So, you do not know if your idea will be successful or will bring profit. Will the business model work and gain users? In the case of MVP with low cost, you can build a basic product (website, web portal, or application) equipped only with the necessary functionalities so that you can verify your business idea. MVP will effectively acquire customers; however, without implementing full functionality, it will also allow you to gain the necessary information about your target group and the chances of business success. MVP development for a startup is indeed an essential tool. Find out what an MVP is and why it will help verify assumptions for your business.
How to start and make an MVP?
If you are wondering if your customers will buy an idea, product, or service, and you do not want to spend a fortune on implementing advanced functionalities, it is worth considering making a primitive version of your idea before making a full-fledged version. It will allow you to convince yourself of the legitimacy of spending more funds on your idea.
It is worth building a prototype of the idea and using the potential of analytics and user feedback on its functioning.
How to design an MVP website?
MVP can be profitable and useful and provide valuable customer information. You can build an MVP model using a piece of paper or notebook where you put down your basic assumptions, i.e., the necessary functionality that is needed to launch a website, portal, or application.
By the way, take a look at Node js example sites: some of them were MVPs at the very beginning!
Defining basic needs in MVP
Suppose you do not have a marketing strategy for your business. In that case, with consistent visual identification or an idea of monetizing a product, a digital agency can help determine your needs to start. An important factor before creating an MVP is to determine the following:
- Why will users want to use it?
- What will distinguish your idea from existing similar products on the market?
Build a target group and personas for your business
The solution to the basic questions about designing and creating MVP is to find the target group. For this purpose, it is worth doing workshops with a potential group of recipients and conducting surveys and research. It is also a good idea to talk to friends and colleagues about their vision of the product.
As a result of workshop work with the developmental agency, you will know the profile of your client and the way he will want to search for information and use the product. Properly designed roles and user levels will help to visualize the needs of your future customers concerning the created product.
During the workshop and “brainstorming,” a list of potential questions, problems to be solved, and functionalities will probably be clarified, which will have to be divided into priority ones to be implemented in MVP.
Examples of questions that are worth asking yourself before creating an MVP
- Who are my potential customers and recipients of services?
- What device will people use most often?
- Which functionalities are necessary for the basic operation of the product?
- How many roles of users do we anticipate for the start, e.g., administrator, user, editor, B2B client?
- How will we validate people who want to register in the system?
What are the costs of creating an MVP product
After the workshop stage, creating personas and profiles of people from the target group and preparing preliminary functionalities of our website or portal, you will receive several valuations from different companies. Each agency will be able to determine the project’s cost, implementation, and support of the project based on your MVP ideas. In the case of receiving valuations, it is worth a determined budget you do not want to exceed; in this case, the agency will be able to adjust solutions and implementation optimally for your MVP product.
Advantages of creating an MVP
To sum up, if you are implementing a larger project, it is worth commissioning an MVP because you gain:
- Security and reduction of investment risk.
- Cost savings.
- Flexibility in building the basic version.
- You will check your idea on real users.
- Possibility of A/B testing of various product implementation options.
MVP protects the owner against bad decisions made before the idea’s implementation. Implementing the basic version itself can give a different picture of your idea because being evaluated by real users can change the perception of the problem that your product will solve.
Conclusion: what is an MVP for your business?
The MVP product concept allows you to collect data; it is a prototype for your idea that has an essential minimum of functions.
Minimum Viable Product allows you to verify the assumptions and direction of further application, portal, or website development.
In addition, MVP allows you to test your business in real life, minimizing the risk of losses, and allows you to find a niche and an opportunity for business.
MVP development is an iterative process at the prototyping stage and in conducting workshops while creating usability. MVP’s profitability and success depend on the value and understanding of users’ needs. These at the stage of implementation of the basic version of the concept can be very easily checked.