Today we are going to talk about something very interesting because we will talk about Minimum Viable Product (MVP) development.
We will understand what is Minimum Viable Product (MVP) and what is MVP in software development and how it has completely revolutionized software, service and mobile app development.
We will discuss the entire proposition of why MVP works and how to build an MVP. Along with that and along with the MVP meaning in software development, we will also try to understand why this is the best practical approach to both in-house and outsourced software development.
Along with that, we will also understand why startups really love utilising the model of Minimum Viable Product (MVP) in software development.
So, buckle up for this MVP in software development guide where we tackle the question of Minimum Viable Product (MVP) and why you too should adopt it.
What Is the Meaning of Minimum Viable Product (MVP)?
We are going to try and give you the simplest explanation of a Minimum Viable Product (MVP). It is the concept of software development where the software is only developed to an extent.
This bare minimum level of development is just enough for early adopters to use the software and the concept behind this is the developers only develop the software further on upon feedback.
This means that the software is only developed to a certain degree which is the bare minimum necessity for it to work so that people can test it and provide their feedback and pave the journey for future development.
If we think about it in other terms as an example then it is just like buying the land for a house and then inviting architects over to decide the shape of the house and then building on top of that land as time goes on.
This is the same thing with Minimum Viable Product (MVP).
This model of software development is feedback-based development where feedback is the guiding stone that leads the software development.
This is a very new approach to product development, the product being the software. This is because it reduces the chances of assumption-based failure.
What Is Not MVP And Assumption Based Failure?
In order to understand assumption-based failure we need to understand how software used to be developed and how things have changed and also why things have changed.
Previously, developers would create a final product and this development was based on assumptions that people are going to like it. If people did not like it then the product would fail.
The previous method of software development did not have feedback in the software and app development life cycle because the end users would get the end version of the software and not something that is barely standing and needs feedback for development.
If we compare it with the land example then the previous models of software development were about buying the land and building the house with assumptions that the end owners are going to like it. You can see where the problem was with this model.
This is how a lot of startups and a lot of software companies simply failed because they failed to deliver what the end users actually wanted because they did not have any place for feedback in the system.
We will help you further with the subject by talking about the key characteristics of a Minimum Viable Product (MVP).
Key Characteristics of Minimum Viable Product (MVP)
Core Functionality
An MVP is all about core functionality and it is just about creating a product that has all the essential functionalities of that product.
This means the product does not need to have an extensive set of features because it only needs to have something that it is about.
For example, if you build an MVP for a food delivery app then that should only have core functionalities like showing the listing of restaurants nearby and a menu to choose the item and just that.
It should not have things like a premium membership for free delivery and other features like a mini video player in the food preparation menu. You can even choose to not add the map that shows the location of the delivery driver.
MVP is just about making it work and then adding things later only after feedback.
Quick And Efficient Development
Since the product development does not have every possible kind of functionality, the development time is very fast compared to any other product that is not built on the model of MVP.
This also means that the development process is very efficient and not very resource-intensive when it comes to development.
It is just about creating a bare minimum product that just stands on its own and will need feedback for further development.
Feedback-based Iterative Process
The process of MVP development is not a complete final process because it is all about feedback and it is about multiple updates as well as feedback forms.
This means the product will get recognition and refinement with time with every update the product goes through and it will be according to the wishes of the users.
The reason why this is important is that MVP development removes the factor of assumptions and that is why there is no prediction involved in the process and that is why the product is always going to be stable and loved by the users.
This is not just a concept because it actually works.
Best Risk Mitigation
If you are worried about unnecessary risks whether it is risks of market rejection or simply product failure then you should try the process of MVP development.
MVP development ensures the lowest form of risk because the development is quick and does not involve a lot of resources and the refinement is done over a period of time.
This ensures the product gets refined naturally and does not take up a lot of resources of the development company.
This means less risky investments and fewer chances of failure.
So, How Does MVP Compare to PoC and Prototype Models?
Proof of Concept
Proof of concept is done much before MVP and it is exactly what it sounds like. It is just the pre-production stage of software when things are put together just to see if they work.
This is then presented to the investors so that they can gather trust in the project and give the green signal to create the prototype.
PoC is just here to prove a concept and it is usually done before any kind of full-scale development. It also takes the least amount of time to complete because it is just about proving a concept.
This also means it takes the least number of resources to do.
Prototype
These models of software development can be done independently or they can even be done chronologically because after the proof of concept is successful, a prototype is created.
This prototype focuses more on the interface and further proves the concept to be a viable option.
However, it showcases functionality and features and is usually done with the help of internal testing and design concepts are tested only by the software developers.
Prototypes are a little bit more resource-intensive compared to the Proof of Concept because this is not just about proving if the concept works but this is also about showing the workings.
We still can’t call this a completed software that is ready for user testing.
Minimum Viable Product (MVP)
And finally, we come to MVP, a functional product that is ready for users. However, when it comes to the MVP, we are still not looking at a completely refined product because that refinement will take place only after user feedback.
We can see all the core functionalities of the product when it comes to the MVP because it is a working model and not just a display model.
That means the development time is also a lot longer than the other two types of software development and the resource utilisation is also larger.
Why Should You Do MVP Development?
If you want to do software development in a way that is usually done in 2024 then you should do MVP development.
This is because it does not really matter if you have a lot of resources or if your resources are tight, MVP development will help you create a functional product which you can then keep on updating and adding features with feedback.
This is also great from the point of view of risk mitigation because you are not developing software and investing a lot of resources based on assumptions. You are just presenting a product with the bare minimum core features that it should have in that particular category.
It will save you time and money and it will provide you with the legroom to improve it and make changes to it.
This Is How You Develop a Minimum Viable Product
Find The Problem
The first thing you need to do is to find out a problem and a need or scarcity in the market because without that your MVP is going to fail even before launch.
You need to do market research to find out if the market needs something and then come up with your ideas.
Research is very important in this stage and you can do this research through multiple channels and it can be through customer interviews of existing products or it can even be through surveys and polls.
It is all about finding a gap in the industry and filling that gap.
This will help you not only in understanding a missing link in the market that needs your attention but it will also help you understand your target audience.
And understanding the target audience is very important from the onset because this will help you build the MVP. You should always have the audience in mind when you are trying to build something.
Existing Market Analysis
While your product should be unique, it will fall into a particular category or a particular industry such as the food delivery industry or cab ordering industry.
It can be the eCommerce industry or it can be the grocery delivery industry or anything else.
You must select that industry and then check out the popular players in that industry. This is going to be your competition and your job is to study everything they do.
You should start by studying their products and apps as well as website and web apps and anything else they provide as an outlet for their services.
You should study the market and find out if their marketing strategies are successful and if they are able to meet the demand. This will be an opportunity for you to make a list for your MVP’s features. This will come in handy later.
This is also your opportunity to make sure that your product has some distinguishable features from the competition and that is why you must find out the things that your competition lacks.
Core Features Planning
Now is the time to compile all that research and start the software development which begins by planning the core features of the MVP.
It is important that you only include the basic features and not additional features that contribute to more development time.
Your primary goal here is to simply push out the app as soon as you can with the bare minimum features.
You must also make sure that the app development does not cost a lot because then it will defeat the purpose of creating an MVP.
For example, if you are creating an eCommerce app or website then it should only contain the basic features of e-commerce such as the product page and the option to buy the product.
You can also add some fundamental features such as a Cart or a Wishlist but that is just about it. You should never add additional features because you should only do that after feedback.
Now that you have finalized the features, you can move on to the next stage of the process.
Creating The Prototype
Creating the product is just as important because this will provide you with an estimate of resource expenditure in the future.
This step is also very important if you have any investors because this will help them understand the concept even better and it will also be a great marketing tool.
You should not spend a lot of time creating the prototype because it is a prototype after all and it is not even the MVP.
You must make sure it is just not a video but an actual prototype with functionality. The prototype should be interactive and it will help you with the planning process as well.
Some startups simply skip this process but you should never skip the prototyping process because even if you do not have investors, the prototype will help you get cost estimates.
Creating The MVP
This is your time to shine because this is when you create the MVP by culminating everything including the research as well as the experience from the prototype.
This is when you compile everything into a functional app or software with the simple goal of launching it as soon as you can.
If you do not have experienced developers you can also hire app and software developers to help you in this process and simply lead the project with your vision.
But you must make sure that it only has the bare minimum features that are absolutely needed for its basic operations.
You don’t even have to worry about the UI or the UX because you can change it later on with feedback.
However, you must keep something in mind.
When it comes to MVP development, you must always leave room for future development because this is a feedback-based development model.
You must never finalize any feature and you must always leave everything to the feedback of the users. In order to generate feedback, you can do something.
You can put in place reward options for people who submit their feedback because feedback is not a luxury but an absolute necessity in the MVP software development life cycle.
Feedback Collection and Updates
This is the final stage of the process but there is no final stage in reality because it is a continuous process of feedback collection and updates.
After you launch the app, you must heavily incentivise the users into providing feedback and you can even create an internal community where people can add themselves and talk about the changes they want.
You can even hire some of these people as moderators of those communities and you can even hire people who understand software development into your development team when you plan on making the changes.
This will be an excellent opportunity to not only gain feedback but also a loyal community.
You must not treat this app development as regular app development where you can simply launch the app and forget about it because this is all about providing regular updates.
We hope this blog will help you understand the importance of Minimum Viable Product (MVP). This is a model of software development that is suitable for everyone from big tech giants to new and ambitious startups.
You can be the owner of a restaurant and create a world-class app or service with the help of the Minimum Viable Product (MVP) model of software and app development.
And if you want the finest app developers to work on your app and software then we are here for you. We are Think To Share IT Solutions and we understand Minimum Viable Product (MVP).
We have developed multiple apps in the form of Minimum Viable Product (MVP) and we trust this process so much that we even utilise it for our proprietary apps and services and it is an ongoing process of feedback and updates.
We would love to create the perfect app for you and we would love to get in touch with you to transform your vision into a working reality. We welcome you to visit our website and check out everything we do.
Common Minimum Viable Product (MVP) FAQs
What is MVP for Agile?
MVP for Agile is just the same as MVP for any kind of framework. When we talk about MVP we mean Minimum Viable Product (MVP).
And when we talk about MVP for Agile we mean creating a bare minimum product that just works and has all the basic features and functionality and was created in the Agile framework.
The MVP technique of software development is probably the most economical and efficient way of producing software.
It is all about releasing the software with its core features and adding functionality in consequent updates. It is a feedback-based software development model and removes the element of assumption.
What does MVP stand for in programming?
The concept of MVP is just the same everywhere and that is also the case when we talk about programming.
The Minimum Viable Product (MVP) model of programming is just about creating a program that is basic in nature and then consequently improving and refining that program with the help of feedback.
It is not about releasing the completed final product that needs no changes but it is just about releasing something for the users so that they can provide their valuable feedback.
It is a very economical technique of programming.
What are the MVP development costs?
Well, you can expect the same aspects of development costs when it comes to Minimum Viable Product (MVP), just not all at once as with a traditional model of software development.
For MVP development, you need a development team and along with that, you need a technology stack. You also need the basic functionality and the infrastructure and hosting to support those core features and functionality.
You are going to need resources for testing and you also need people for quality assurance. Then you need to push out regular updates with new changes and new features and there is a cost involved in that.
And finally, there is the marketing aspect of it and the promotional aspect of it.
The key difference is that it is going to cost a lot less compared to any other kind of software development model because you are just producing a basic final product.
It is going to cost the same if you add up everything but it will not be a one-time investment because you can invest gradually when you keep on adding features and release updates.
What are some examples of MVPs?
MVPs are everywhere because you can find MVPs in mobile app development and you can find MVPs in website development as well as software development.
You can also find MVPs when it comes to different subscription model services because the service provider simply starts the service and then adds features gradually.
You can even find MVPs when it comes to specific hardware products that are initially released as a standalone gadget and then features or additional parts or attachments are made available later on.
MVPs are everywhere so to speak.
Is it necessary to launch an MVP for every software project?
While it is not absolutely necessary to create your app in the Minimum Viable Product (MVP) model but if you plan on doing it then there are advantages.
You do not need a lot of resources and if you have a tight budget then you should definitely release a Minimum Viable Product (MVP).
You must also understand that if you have limited time and limited manpower and you simply do not have any threshold for risk in investment then you should absolutely release a Minimum Viable Product (MVP) rather than going for a traditional model.
However, if you have an unlimited budget and you do not have any constraints when it comes to resources or manpower and you have a high threshold for risk then you can afford not to release an MVP and release a fully-fledged service or software complete with all its features.
But we would still suggest you to launch a Minimum Viable Product (MVP) and make changes and updates as you wish.
