Intermediate Vocabulary #startup #product #mvp #lean-startup

MVP & Product Vocabulary

5 exercises — MVP and hypothesis validation, North Star metrics, product-market fit, pivots, and dogfooding. The core vocabulary of product-first engineering teams.

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Product vocabulary quick reference
  • MVP — Minimum Viable Product: smallest release that tests the core hypothesis with real users
  • North Star Metric — single metric capturing the core value the product delivers
  • PMF — Product-Market Fit: product satisfies strong market demand; users love and retain
  • pivot — structured change in strategy (not quitting; not just iterating)
  • dogfooding — using your own product internally before releasing externally
  • P0 — highest priority: critical blocker requiring immediate response
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A product manager says in a planning meeting: "We're not building the full feature yet — let's start with the MVP and validate our core assumption." What does MVP mean here, and what is the "core assumption"?