The core set of features is critical to your product launch. This is often the most challenging part of product design.
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Startups should aim to develop the first product for a small target market via a Minimum Viable Product (MVP). The object of the MVP is to get a product out there for the early adopters (called earlyvangelists here) to play with.
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The Minimum Viable Product is the simplest, most basic form of a product or service, which can be sold in the market. This doesn't have all of the bells and whistles but has enough features to work. Basically, it is good enough but not perfect.
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The Pareto Principle or 80/20 Principle says that 20% of your activities will account for 80% of your results.
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