Minimal Viable Product
The Lean Startup, by Eric Ries, took the world by storm with this stunningly simple idea, of putting something small in people's hands, and pivoting in response to the feedback received. Turns out that the same philosophy had been pushed for the last thirty years and probably a lot longer, under the title of 'Prototyping'. But he did a clever thing: by coining a new term (and providing anecdotes about its use) he was able to discard all the baggage associated with the old term. A lot of people abuse and misuse the term MVP, claiming, for example, that a landing page is a decent MVP that can validate your idea.
My book "Choose Your First Product" is available now.
It gives you 4 easy steps to find and validate a humble product idea.