Minimum Viable Product (MVP)

Have you come across a great idea, the implementation of which will take your business to a new level? Do you already know that, although its implementation will be labor-intensive, is it worth taking a risk? Consider MVP!

What is MVP?

MVP (a minimally finished product) is a natural consequence of the “Idea to product” approach, the premise of which is to test whether the product we want to launch is right. Once we know the answers to the questions:

• What will my product be?
• What problems does it solve?
• What is the market opinion on my idea?
• Is there something similar on the market?
• What makes my product stand out?

creating the actual product becomes the next stage. Many originators here define all possible functionalities and claim that only preparing all of them can bring success. But are you sure? From the Facebook creator’s point of view, in the first stage of application development, were the “fundraisers” or games necessary? Definitely not – the platform was aimed at creating a community and communication opportunities between its members.

The same should happen with the implementation of your idea. Assuming that your idea is to create a new messenger for entrepreneurs, you should not start its implementation from managing the list of company suppliers, when the key functionality – communication module – has not even been touched.

Why MVP?

MVP preparation works for several key reasons:

1. Preparing a minimally working product, we can relatively quickly launch it, thus verifying the rightness of the path we have chosen
2. MVP means cost reduction. Limiting ourselves to key functionalities, we do not focus on the implementation of additional modules, which makes the workload much lower.
3. The product introduced to the market gives the opportunity to obtain a real opinion about it, which automatically allows you to determine what to focus on in subsequent iterations during its development

In our opinion, the combination of MVP and agile methodology allows achieving very satisfying results. On the one hand, we reduce the cost of the client, on the other we are able to react and introduce new, key functions from the user’s point of view.

If you want to talk to us about your idea, write us or call. Let’s create something great together.