The development of a minimum viable product (MVP) is a great option for those who want to test out the app’s chances to succeed before investing money in a full-scale product.
What is an MVP?
An MVP is a form of your web or mobile app that can already function and bring value to users but still has limited functionality. Though such a product has only core features, it will be enough for a team behind the project to understand how users react to it.
Being a basic model of a final app, an MVP should solve the key problems that it is supposed to address. As a result, based on the feedback of early users you will have a possibility to make a grounded decision on the feasibility of the real app development.
As the MVP development and launch can be viewed as the way to try out your assumptions regarding the functions and capacities of your app, sometimes the release of only one version is not enough for developers. In such a case it’s worth diving deeper in the peculiarities of the build-measure-learn philosophy.
Lean startup methodology: what does it presuppose?
The launch of an MVP is an integral part of the broader lean startup methodology that has gained high popularity in the IT sphere today. It is based on so-called build-measure-learn feedback loops. These loops, or cycles, consist of the following components:
· The MVP development;
· Its release to a select group of test users;
· Feedback gathering;
· Analyzing the issues that can be improved;
· Introduction of the upgrades with a further release.
The build-measure-learn cycle can be repeated more than once. The idea is to gather as much data about users’ preferences and expectations as possible and to learn how to offer a product that will perfectly fit the market.
What can you do if you see that your MVP has failed? What does it usually mean? As a rule, such a situation can occur in two cases:
· The product is cool but you’ve chosen the wrong target group for testing.
· Your product doesn’t fit users’ needs and it requires updates.
But you shouldn’t give up after the first attempt. Sometimes after analyzing MVP release results and users’ feedbacks, entrepreneurs and startupers change their projects significantly. They may choose a new niche, opt for another target group or define a new problem that they want to solve with their product. And it is completely okay. The lean startup methodology has an aim not to convince you that you are doing everything well but to help you see what you can do better.
As soon as you are satisfied with the results of your MVP launch and you believe that you do not need to introduce any changes, you can proceed to the step of planning the final product development.
Benefits of MVP development
Is it possible to skip all these processes with MVP? So, actually, yes. However, we recommend not to do it.
We are fully confident that such a step as the MVP launch is a crucial one on your way to a successful app release. And here’s why:
It is a possibility to test the feasibility of your project quickly and at minimal costs.
You can better analyze the needs and preferences of future users as well as to learn more about the market segment that you want to rock.
Starting with an MVP, you minimize the financial risks related to the potential failure of a final version (as it is clear that you will not develop a full-scale version if there is no interest from the side of your target audience).
This stage helps to better plan the development process (as developers will have a good understanding of what they are supposed to do), avoid unnecessary iterations and smartly allocate your budget.
If you are looking for investors, a built MVP can prove the value of your project and provide confidence in its further success.
Already have an idea? Let’s transform it into a successful software product together! The Omertex team is always ready to assist you at any stage of the development, including the launch of an MVP. Our experts also can help you to gather and analyze the feedback from early users in order to choose the right direction for your project.
Just contact us and we will discuss what we can do for you.