How do I get an MVP and what are its benefits?
Don’t waste your money because you skipped this crucial step for your idea. What can an MVP do for your project? How to implement it? Find it out!
I've been trying to find an easy way to explain MVP. In this case, the MVP is not the most valuable player. Remember when our folks used to tell us: "learn to walk before running"? MVP is like that. It's the minimum viable product. You might be asking yourself: "a product of what?". Suppose you have a clever idea for an app but don't have many of the resources (money and time, mainly) to venture into it. You visit some investors and talk to them about your glorious app but have no luck. They want to see it.
That's when MVP gets into action...
Stages of an MVP
Developing an app can take years and a lot of money. Building MVP cuts that time and money by at least half, giving you time to present something tangible to possible investors and stakeholders. After you hire a software factory, they begin to work on your project, dividing it into parts or steps:
- Research: you need to establish your target audience and the problem you are trying to resolve for them with your app. Don't leave out the competitors, since they are a source of information, too. If they have reviews about their app, research to know what they are not offering.
- Find the product's value: after you know who your target is, what their needs are, and the weakness of your competitors, it's time to get to know what your app will offer to make it different, stand up, and be more useful for your customers than the competitors' app. Your product has to solve a problem your target and the potential investors can instantly relate to.
- List all of the features: after you visualize the list, think about if they are core to the product's value. If they are not, cross them out of your list. You will have time to add other features later. If they are needed to get your product running, keep them. Think that for every feature added, it will take more time (and money) to launch your MVP.
- Build, launch and test: It's time to design the UX/UI (user experience and user interface) and the code. After your team is done, share the app with friends and gather their feedback. Make adjustments, and re-release it among them. When you think it's ready to see the world, it's time to launch the Beta test with your target audience. Check out all the relevant data and metrics( clicks, downloads, conversion rate).
- Listen, adjust, listen, adjust: I know it sounds like a loop, right? It is! After the beta, you will know more about your product and your audience. That way, you can make improvements and changes. It is time to wow investors.
Your prototype is at its highest point. After getting the OK from investors, you can start to add the features you envisioned before but had to sacrifice for the sake of your MVP. No product can succeed without proper research, strategy, feedback, and iteration. It's not a matter of a hunch or good luck. It is hard work and testing.
At Awkbit, we develop your MVP, from the initial research until it's fully grown for you to show the investors and stakeholders. Let's get in touch! We are eager to discuss your ideas and start working on them ASAP.
+1 (786) 321-3247 Mara Destefanis - Marketing
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