The term maximum viable product (MaxVP) has sparked considerable discussion among entrepreneurs.
➤ Some believe that a MaxVP is indeed a real milestone in product development, representing the point at which a product has achieved its fullest potential.
➤ Others, however, prefer to say it’s a “mature product”, placing emphasis on the fact that the product is stable, profitable, has market success, and makes customers happy.
Regardless of the terminology, many products DO eventually reach a point where they face limitations. For instance, this could be the case when all the planned features have been implemented. At this stage, the product may be considered highly successful, having met its initial objectives and gained a loyal customer base.
What do you do if it seems like there’s no more room for improvement?
For one thing, don’t force minor upgrades or additional features onto a well-performing product for no reason. Here’s why:
1️⃣ Adding features or random improvements just for the sake of it might not be the smartest idea in terms of business. While it may be tempting to continue rolling out new stuff to show that the product is evolving, it is crucial to consider the potential return on investment for these actions. If they don’t bring significant value or enhance the customer experience in a meaningful way, it may be more prudent to refrain from incorporating them. You could end up wasting your money and time on useless things.
2️⃣ Even worse, your (at large) meaningless additions can actually harm your well-performing product. Tons of features can:
- confuse your customers instead of bringing them benefits;
- slow down the performance of your solution;
- distract new customers from the value and essence of the product that make it a success.
What SHOULD you do if you think you’ve hit the MaxVP mark?
Well, prioritizing value and customer satisfaction could be a start. We’ve shared other insights on this matter in our latest article, which you can find here: