This video explains in broad terms what a Minimum Viable Product is, what is its usefulness, how to use it and, last but not least, how to build it. Of course, an MVP would have to be different for every business idea. Discuss with your mentors.
The transcript of the video will help you refer to the knowledge you acquired. Read it, whenever you feel uncertain about the facts you have learned.
You will start designing the demo or Minimum Viable Product that you intend to offer to your customers, according to what you think they need. The demo may be a design on a piece of paper or something more elaborate. It could be a launch page, a twitter account or anything else that represents the basic structure of your idea. After lunch, Refine the solution you will offer to the customer’s problems. This solution may be presented in the form of a demo or MVP, depending on the stage of the startup.