What role do MVPs (Minimum Viable Products) play in your product strategy?

Launching an MVP is great because you can find out what's working before spending too much time and money on development. If no one is interested in your MVP, it might mean you misidentified the problem you're trying to solve for your target users, or overestimated the importance of the problem. Maybe it's time to pivot and try something else. I've recently been interested in this idea from the book Million Dollar Weekend. Basically, the idea is that you can create a landing page and start a waiting list even before you spend a dime on development. If no one is signing up for your wait list, it might not be worth developing the product.

@abhishek_ux In the process of going from 0 to 1, an MVP serves as a tool to gather evidence of market response. If there’s no market response, it indicates that the product lacks market demand. However, if there is a response, the direction of that response helps clarify customer needs and shape the direction of the product.