A term that’s often used within software development is Minimum Viable Product (MVP). If your developer has mentioned this term or acronym, you might be wondering what the purpose of it is with regards to your custom software project. An MVP is the very basic elements of your software project that helps to share the primary function and purpose of the work. This blog post will take a look at when an MVP is used and what it could mean for your business.
Minimum viable product – what is it?
When building an MVP, your developer is aiming to create a product or piece of software that offers the basic features that are required to satisfy the demands of your first users. Your developer will generally design this before going further into the design process, so you can give feedback on the basic concept established within the MVP. After receiving feedback from you and your staff, your developer can then continue developing your software and the full range of features you discussed in prior consultations. Your MVP will solely focus on very basic features and won’t look at the more complex or additional features you may still be considering.
Characteristics of an MVP
An MVP, will always have certain characteristics. Firstly, it will need to display enough value so that users can access its viability. It should also give users a good idea about what they can expect from future iterations of the software. Finally, it should provide a feedback loop between you and your development company, which will be used to guide the future development of the software. Your developers shouldn’t waste any time developing beyond the bare bones of what’s required for the MVP, as you’ll want them to start developing the extra features once you’ve assessed and approved the development so far.
After the MVP is developed, you’ll often find that your software changes, and in some cases, the project may be completely overturned. However, you’ll find that you have saved time and energy by only creating an MVP instead of dedicating months having the full product developed to find it is incorrect. The developers’ focus during this process will be on collecting the information and feedback that’s needed to continue your work. However, make sure you are engaging the right audience to gain valuable feedback, especially if your product involves a good level of technical knowledge.
Many of the world’s top start-ups and companies have used MVPs in the past, such as Facebook, Twitter, and Airbnb. Companies find it offers many benefits and helps to create a final product that is user-friendly and appreciated by everyone.
Why would your developer choose to build an MVP?
For anyone wondering why your developer is suggesting building an MVP, we’ve outlined the benefits of this process. Firstly, your developer will quickly be able to put together a useable product, so instead of wasting time and resources on developing the final product, you’ll soon be gaining valuable feedback from users. After the MVP is created, your developer may want to make adjustments to the development team’s work processes to improve their efficiency in your upcoming project. An MVP is a good foundation to build upon in the future, and you can have features added that you feel are required following your user’s feedback. With regular software updates, your software system can continue to be built upon the success of the MVP.
If you are looking for investors for your project, an MVP can help to get across the aim of your software system. Without investors fully on board, it can often be difficult to get the funding and resources that you need for the project, and an MVP will help to get everyone engaged. As you can tell, a lot less time and effort is required to build an MVP, so you’ll definitely save a lot of money this way. Finally, it’s a great way to find out how your users feel about your new software and get their initial feedback and criticisms, which can then be improved upon. This will save time later as you won’t be adding features that aren’t required by your users.
Things to be aware of when using an MVP
While there are many great advantages of having an MVP built for your software system, make sure you keep in mind the few drawbacks of this type of work. Ensure that you fully understand the purpose of the MVP and that your developers add everything that is required to create a viable product. Don’t confuse the MVP with other minimum products, such as a Minimum Marketable Feature (MMF) and Minimum Marketable Product (MMP). These have different expectations, and you’ll want to ensure your whole team and the developers understand what they are aiming towards when creating your MVP.
Finally, the number one reason that companies don’t benefit from using an MVP is that they don’t bother reviewing the MVP fully, thus negating the feedback they could have gained to improve the software system.
As you can see, an MVP is an excellent tool for companies in the process of having a software system developed for their business. It’s an excellent way to save time and money on any software project by ensuring that all features will satisfy your expectations.
BSPOKE Software has developed many MVPs in the course of the company’s lifespan, many of these projects started out as MVPs. If you’re interested in a bespoke software system for your company call for a free consultation today.