According to Wikipedia, a minimum viable product (MVP) is:
… a product with just enough features to gather validated learning about the product and its continued development. Gathering insights from an MVP is often less expensive than developing a product with more features, which increase costs and risk if the product fails, for example, due to incorrect assumptions.
A benefit of creating a MVP is that you get to try out the whole process – from making something to sale and fulfilment. My 1-product Etsy shop is itself a kind of MVP. I’m testing the product (which is actually more developed than would be expected under the normal usage of this term), but I’m also testing the experience of making, marketing and selling it.
This approach, while great for testing ideas, and for keeping up momentum, also means you experience all of the kinks and challenges in the process – and all at once, with real live customers.
So I’m now feeling the pain of of one my quick assumptions, that shipping my tree product would cost about £10 in the UK, or £20 internationally. Ha, no way! Turns out it’s more like £45 to ship it to the USA.
That’s the thing abut learning, it’s often painful.