A lot of product companies focus on the MVP or minimum viable product, when what they should be focussing on is the Minimum Viable “Business”.
This is important because the goal of a startup or even new product teams is not just create a product, it is to create a sustainable business around a product/ solution or service.
I define a MVB, as the minimum work that you can do to check if your customer will pay for your service or product!
The reason I want to check if people will pay for something is because that is a very good indication of whether it solves a real pain point, or is something valuable to the customer.
There is a big difference between somebody saying that they will buy something and they actually buying it.
The MVB model prevents you from wasting time building a product BEFORE you have an idea of whether anyone actually wants it.
It forces you to focus on a thin slice of all aspects of a business like marketing, research and sales and not just product development.