Reis defines the Minimum Viable Product as a “…version of the product that enables a full turn of the BML loop with a minimum amount of effort and the least amount of development time.” (YEAR: 77)
The notion of entrepreneurial teams has attracted discussion and debate among researchers for a number of years. While many now agree that the lone entrepreneur is potentially misleading concept because it overlooks how a range of people contribute to the realisation of the entrepreneur’s vision, there is disagreement over how the ‘entrepreneurial team’ should be defined.
Cooney (2005) gives a helpful introduction and overview of this debate. Building on the work of Kamm and colleagues, Cooney offers the following definition of an entrepreneurial team: