When a start-up plans to develop a new product, they face many hurdles. What is the best development approach? What are the necessary features? What will be maximal benefits for the given timeline and budget?
For the most cases, the right answer is minimum viable product or MVP development.
On the initial stage, start-ups focus on MVP development process because an MVP enables to provide enough functionality to offer value, but still keep investment to a relative minimum. MVP can be offered in the market to get initial feedback and determine further development directions on its basis.
An MVP, minimum viable product, has only core features to solve market needs. It helps start-ups find out what the market thinks about their idea. Users help start-ups by telling them what they really want and what they are willing to pay for. Development of an MVP ensures entrepreneurs do not spend their time and resources on a not-in-demand end product. An MVP enables gathering information either to help develop a software solution relevant to expectations of a target audience or to abandon it.
The main requirement for every MVP: the product has value. If a product has a flawed design or provides no benefits, no one cares about its fine architecture, perfect stability under load or future extensive feature list. All the most useful features must be implemented with minimum time and costs. An MVP must be a finished, fully featured product that solves tasks in a clear and correct way, has demand, and can be sold.
Unfortunately, there are no definite criteria for a successful MVP. When a project starts, it is crucial to comprehend its limitations: time, cost and scope of work – the classic triangle. These criteria depend on each other. When one is changed, two others must be corrected respectively.
We enjoy the experience of working with over 100 start-ups and 10+ initial starts. Our company works closely with start-ups as a technical partner. We share our expertise, our network of professional contacts, and our technological know-how to help them become a market success. Our partners come from different industries with different ideas. Our developers, with their well-honed skills, develop a properly functioning MVP and make it extendible in the future. Contact us today to discuss the details for MVP development of your idea. It’s absolutely free for you.