The main idea behind literally any modern software is to make users’ lives easier. It should be an instrument that will solve a specific problem. For this very reason, before launching literally any product, it is important to find out if it is going to find a proper audience of users.
The concept of Minimum Viable Product helps in the development of the best possible strategy for making a good start for literally any piece of software.
The process of building the MVP is perfectly described here, it is not that hard in fact. But before doing that, people should realise exactly why they should be interested in this cocncept in the first place.
MVP Helps To Minimise Risks
MVP can be implemented before the creation of any product in any sphere, but for the most part it is used for startups that are tied to the development of digital services and software.
The concept is pretty straightforward – a studio creates a product, it can be a service or commodity and the task of the developers team will be to analyse the behaviour of people who in theory should use this website, application or automatized service.
Thanks to the information that was received during the tests, it will be much easier to continue the development process. If there is going to be no interest in this product and it will be really hard to find a proper audience of users, it is better to stop the work on this software.
Any startup is based on a certain hypothesis. It helps to check its capacity:
- Drawing up a list of criteria that determine its viability;
- Creation and launch of MVP;
- Measurement of performance indicators;
- Analysis of results, drawing conclusions and, if necessary, making a decision to test the next hypothesis.
According to a number of official studies that are available on the internet, the reason for the failure of most startups is the lack of market demand. Many new entrepreneurs take months or even years to realise that their hypothesis is wrong.
Coming to the understanding that the product is not interesting to the audience, having spent a lot of effort and money on its development, is not the best way to release the product. Risks can be minimised by using the MVP concept.
Why is it important to create a Minimum Viable Product?
The main reason to launch an MVP is the opportunity to get feedback from real users and understand whether the product is really interesting to the audience and what needs to be implemented.
MVP is a working test version of a product in which only the main functions, even if it is a simple one function, are implemented. It is very important to verify capabilities and relevance in order to obtain the feedback from real internet users. Here are the main benefits of using MVP
- It helps to make the business much more profitable thanks to the money saving, because of the risks reduction;
- Niche can be measured and it will be easier to understand if a certain software will work properly in accordance with expectations;
- It is possible to find out the level of interest of users in the specific product;
- Determination of the best vector of development with the help of a number of improvements that are going to be implemented before the release of the software.
Feedback is really helpful in implementing improvements to the final product. Some features should be refined after a number of tests in order to make sure that the feedback will become more positive and the audience of users will be pleased to see the full-fledged release of the service. Such preparation allows developers to find a good place on the modern software market.