Release a product quickly by creating an MVP first and test your concept before putting significant investments into development
MVP (or minimum viable product) is a version of a new product containing the least number of features that is sufficient to satisfy early customers and allow its creators to gather validated knowledge based on user feedback
to release a product fast
to prove product - market fit
to validate hypothesis
to get user feedback
to mitigate risks
Every product is unique and so is its MVP. That’s why to define what functionality to include in a specific minimum viable product, you need to consider the nature of a product, users’ expectations, potential markets, and many other factors. But the basic feature combinations are:
MVP is not a profitable product that you can sell to a broad audience. But building it before the development of a full-fledged application is a widespread practice that always pays off in the end. The main benefits of MVP for startups and established enterprises are similar. They include:
MVP allows you to identify the strengths and weaknesses of your idea and determine if a product solves real customers’ problems before you spend the whole budget on the full development.
Building an MVP takes less time than the development of a complete product. Hence, you can start promoting your product and building a user base early on.
MVP helps you get a better understanding of what your target audiences really want and what they like or dislike about your product.
MVP requires less upfront investments as compared to the full development. Hence, you don’t spend all your resources on the product that might not be the right fit for your target market.
If you want to create a successful product, it’s important to be on the same page with your development team. Building an MVP is a great chance to make sure that you can entrust your project to outsource developers of your choice.
Most software development projects are complex and, thus, associated with many risks. Building an MVP is one of the most effective ways to minimize them.
Startuppers can use MVP to showcase investors their ideas and get better chances to receive funding from them.
MVP is about getting to market fast. But it doesn’t mean that the quality can be compromised. Here, at GBKSOFT, we follow the steps below to build successful MVPs which help our clients reach their business goals
At the very beginning, you share your idea with us and our expert team analyzes all the information you provide.
Working closely with a client, we determine must-have features which have to be included in MVP. We also briefly outline the functionality that is to be added to the product in the future.
This is the core phase of the whole process. During this stage, our whole team works on making your idea a reality, including UX/UI designers who create an MVP design and programmers who write code.
Once the MVP is ready for the launch, you can offer it to early customers in order to learn from their interactions with the product, get feedback, and test your initial assumptions in practice.
MVP is just the first step. After you make sure that you’re going in the right direction, we’ll proceed with the development of the product and its post-release maintenance.
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