What if you have a great new business idea, but don’t know whether it will work. You prototype it, right? Of course. But what do you prototype? How do you define what that minimum viable product (MVP) is that will prove whether your business idea is a great one or a non-starter?
As Steve Blank says in this article, it’s not necessarily a smaller, cheaper version of the final product. The important thing is to define what you don’t know about the product, and work out the quickest, cheapest way of finding out the answers. It’s about smart learning.