In detail
An MVP covers the one core workflow that proves customers will use and pay for the product, and leaves everything else for later. It is released quickly, measured, and improved in short cycles.
A good MVP is scoped around the riskiest assumption in the business, not around a feature wish list.
How this relates to our work
MVP comes up most often in our startup & business consulting work. Business consultancy for founders and new startups: idea validation, business plan and financial model, pitch deck, MVP scope, technology strategy and go-to-market, from a team that also builds the product.