It definitely depends on what your product is. Some customers will not be very forgiving while others will be relentless champions for you. Our approach has be

It definitely depends on what your product is. Some customers will not be very forgiving while others will be relentless champions for you. Our approach has been somewhat unique. Our MVP is mostly a throw-away version we got out into the world as fast as possible to test the idea. As such, we didn't do much testing. We excluded most of the back-end stuff we'd like to have but was not absolutely essential for basic operations (mainly automation of some tasks). This worked because we can do most of the required tasks for a small number of customers by hand in the mean time. This has been very successful and has been helpful on a number of levels -- we know our core customers quite well, they get personalized service and seem to be very loyal, and we were able to launch much earlier. The idea was to avoid spending a lot of time in development/testing in case things didn't go well. Now that we know there is a place in the world for our product we can build a 2.0 version with everything we want/need in it. Plus, given our experience in the field and with the customers, we have a much better idea of what exactly our software will need to handle. Rather than mod our product to fit the requirements, we'll just build a new one and migrate the existing data. In the mean time we have some grass roots growth and customers who give us constant feedback. I would note that if you are seriously looking at the possibility of growing very quickly then you probably don't want to use a throw-away MVP. If we got hit hard right now we would be in a tough spot for a few weeks (maybe more). Since our niche is rather small we felt a bit more comfortable taking on this risk.