When you launch your digital product into the market it's common for this version to be the proof of concept (POC), which is better known by the terminology — minimum viable product (MVP). The purpose of the MVP is to prove there is a market of buyers (users) for your product.
When the beta version of the product for my first startup tech company, Virtual Race Bags, launched it was truly a simple proof of concept. In beta there was enough functionality in the product to provide a solution for event organizers to connect their sponsors directly to their participants via a digital goody bag. If the target audience of events would pay to use the product we were in business. We quickly found the proof and the next move we made was maybe one of the most stressful moves you could experience in the early days. We decided to go big and rebuilt the entire product from the ground up.
As a growing number of events began to adopt (more than 10)
, we believed the beta version would not scale to sustain the larger event customers we were targeting. If our MVP version was a project, this simple proof of concept version would have been the end of the line and customers would have suffered from lack of continuous improvement. Instead, as a product with the continuous delivery cycle was just the beginning and continues still today (even post-acquisition).
Castle's CEO, Travis Parsons, looks at this further in Your Digital Product Will Never Be Finished