An MVP (Minimum Viable Product) is the very basic element of a software project. It helps to share the primary function and purpose of the work. Let’s explore when an MVP is most useful and what it can mean for your business.
Minimum viable product – what is it?
An MVP demonstrates the essential features of a software project. Your developer will aim to satisfy the demand of your first users when developing the MVP. This is so they can give feedback on the basic concept established within the MVP before development continues. 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.
Characteristics of an MVP
An MVP, will always need to have certain characteristics:
- It will need to display enough value for users to access its viability.
- The MVP needs to give users an idea of what they can expect from future iterations.
- It will need to be able to provide a feedback loop between you and the development team.
Your developers shouldn’t waste any time developing beyond the bare bones of what’s required for the minimum viable product. Allowing you to start developing the extra features once you’ve assessed and approved the development so far.
After the MVP is developed, your software may change. In some rare cases, the project may be completely overturned. However, the creation of an MVP normally saves time and energy. By only creating an MVP instead of having the full product developed resources are saved, as errors and misconceptions can be sorted earlier in the process. 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.
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. Once created your developer may want to make adjustments to the development team’s work processes to improve their efficiency in your upcoming project. Users can also provide feedback on the MVP creating a good foundation, to begin with.
If you are looking for investors for your project, an MVP can help to get across the aim of your software system. Investors can provide the resources and funding to get the project off the ground. Finally, it’s a great way to find out how your users feel about your new software and get their initial feedback and criticisms.
Things to be aware of when using an MVP
One thing you need to ensure is that the MVP contains all the basic required functionality. 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.
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.