Watch the newest podcast by Przemek Mikus about MVP. What is MVP? How to create it? Do you need an MVP? Is it possible to create an MVP in 60 days?
Transcription
Hi, my name is Przemek Mikus and I'm Chief Operating Officer at Frontend House and Liki. In a few minutes, I will tell you how to understand if your business needs an MVP. How much time will it take and what is the process. And a few bonuses.
What is MVP?
MVP is a minimum viable product. A product with main functionality without additional features. Companies launch an MVP to collect customer opinions. We have to remember that MVP is not a prototype.
It is a fully working application with basic functionality. When the hypothesis is confirmed, we can take the customer feedback into consideration. Fit the product to our customer needs and develop the full version of the product. In other words, developing an MVP helps to collect feedback (gather user feedback) to understand your customer needs and test your hypothesis. Testing your idea, based on validated learning, by building an MVP will save your time and costs. It checks if everything is aligned with your client's needs and requirements.
It also shows the idea to investors. With MVP launch, you can present the fully working application to potential investors. A business plan, marketing strategy and valuable application will increase the chances of success. At Liki and Frontend House, we have a lot of successful cases creating an MVP in a short period of time. Let's take a look at the two latest projects we worked on.
Use cases
Those projects are from two extremely different fields - application for an industrial robot and community application which is aimed to unite people with the same hobbies and interests. Those two cases from different fields have something in common. The MVPs for these products were created in a short time and helped our partners and clients to get investments. So as the practice shows, building an MVP in 60 days is definitely possible. Of course, the duration of the development depends on the complexity of your project, but I'm sure with the right team you will find the best solution for your product.
MVP development process
I have an example for you that will show what a good MVP is. Let's imagine that your final product is a car. To build a minimum viable product, you don't have to make wheels first, then housing, and then put pieces together. To build a really good MVP you have to create a ready-to-use product with minimum functionality. In this case, it could be a simple tool, such as a skate.
In the further stages, you will add more functionality to your means of transport. The next version of your car MVP could be a scooter, bike, or motorbike. Until your product will be complicated enough to become a final product, a car.
Steps involved in MVP development
The cycle of MVP development is the following Product Discovery Workshop, and work of the UI/UX Department based on your workshop insights. The next steps are development and testing. Your role as the client is very important.
At every step of the MVP development. You take part in the process, see the progress and improve the product during the development. A couple of days of the workshop, depending on the complexity of your future application will give us an understanding of the product's main features, plan of scaling the product, etc. By the way, we have a video about the Product Discovery Workshops. You can watch it HERE. After the workshop, our team will create the documentation. Documentation will present the user flow, personas that will use the product, basic charts, user experience, and user interface developed by our UX and UI team.
MVP in 60 days - is it possible?
After the workshop and UI UX design steps we can estimate the development and assign a proper development team, so we complete the team and start the development. The duration of the development depends on the complexity of your project, your purposes, and needs. All the previous steps will help to improve your idea, test it and as a result lead your product to success. Our experts are always ready to join their forces to bring your idea to life. If you are looking for experts to build a minimum viable product / MVP, our team is always there. Reach us via the form at frontendhouse.com and let's have a Discovery Call.
Our experts will advise and support you on each step of software development. From market research to market validation, just to test and analyze what works and what does not. First, build an MVP, then learn from your target users' feedback and be ready to answer your target audience about their needs. Make your business strategy fully effective, because, in the end, you want to deliver the best possible digital product on the market that meets user satisfaction.
Thank you and see you in the next episode. Bye-bye.
