Why should you develop an MVP?

MVP Development Services

Examples of companies that have achieved success through MVP? The main advantages of MVP. Main types and functions of MVP.

MVP Development Services for Startups

When starting a business, everyone hopes for a high rating of their products among competitors and a great demand. It doesn’t matter what product you want to launch on the market – you first need to determine the consumers’ reaction. And you need to know this in advance, even before you fill the market with your product. Our company SELCgroup specializes in MVP development for startups. You can contact our specialists, who will answer all your questions and allow you to create this software quickly.

How can this service help you get started?

If the product has already been worked out and does not require an analog stage (of a similar sample), why create an MVP? The minimum Viable Product is the minimum viable product, which differs from the model. And this development option is no longer a simplified version but carries the necessary functions and combines the main goals in the best way.

The sample (prototype) aims to detect weaknesses in the operational process and is needed to achieve the goals. Thus, the prototype can be mapped to a point, and the MVP process involves passing the test. And this is not a test for the development of technologies and solutions. It is testing, which should analyze consumers’ reactions to your product while improving it in accordance with consumer reactions.

Understand that MVP services for startups guarantee that you will be aware of the demand in the market and will be able to test this product option in business without the huge losses associated with curtailing production due to a lack of demand for your products.

How consumers react will help to adjust the leading indicators of products and the business project to determine the company’s strategy when launching a product. Testing only with a sample will give a partial picture of demand but can only confirm the technical implementation of the service. The selection will not give you an answer – whether there is a need for this product on the market. And MVP will provide a rich result, thanks to which you will make the right decision, having checked the viability of your model.

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Why develop an MVP?

The most important task of an MVP is to help you avoid the risks of business “uselessness” and understand the nature of consumer demand for your product. And now, in more detail, what it is for:

  • Keep your launch costs to a minimum.
  • Understand the degree of market demand based on the test data.
  • Decide to adjust the business model initially or abandon it entirely due to unprofitability.
  • Find real consumers.
  • Prepare a basis for your business for further business development, and if there is a benefit in this, invest in the project yourself or look for investors.

It follows from all this that it is only worth starting a project with an MVP – you risk losing your investments.

Important in MVP Services

Before launching an MVP, it is necessary to have as much information as possible about the planned market for the sale of goods. It is the basis of the strategy. Thoroughly study competitors’ offers, comparing with consumer demand for their product. You must launch such a product so that consumers feel a positive difference between your product and what is already on the market. Otherwise, you will not be competitive and will burn out.

Targeted Consumers

The next step in the MVP launch process is to work out the demand audience. No need to focus on a large audience – this will be a mistake. It would be correct to narrow the center of consumption, enabling competition and hence the development of your marketing. Your product must have distinctive characteristics from competitors, so you can subsequently build a large-scale business program. But remember, at this stage, to calculate the credit part of the economy.

What is a roadmap?

The roadmap is a lever for visualizing your company’s development strategy, the stages of launching a business program and promoting a product on the market.

Your next step is to take the consumer’s side and look at your product’s release to the market through his eyes. Create a plan for the customer to follow to purchase your product. This route should be as convenient and uncomplicated as possible. It is part of the success of attracting a customer base.

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Important MVP Features

It is also essential to decide on the list of functions that will be available to the consumer in the main version of the product. It is necessary to prioritize and adjust the strategy. To do this, you need to think about what can create maximum demand and motivate a return contact with the client while solving at least one of their essential tasks.

Then launch the product and test it. Based on the data collected, the future and viability of your business and startup will depend.

Types of MVPs

The MVP format can be different; for example, be like a pending with a presentation of your product and services or a promo video where the idea of a product is proposed. A little more complicated is the “concierge.” This format is a full-fledged service where people perform the primary tasks. But you can also use ready-made forms – “constructors.” There are ready-made tools for this – scripts, application schemes, and software. The most popular and well-known format is a product with only one parameter, which will test your model’s competitiveness. If this parameter is not in demand, then further development does not make sense.

Examples of successful MVP creations

This service is in high demand these days. For example, Facebook – when it was launched, only one parameter was used – “find classmates for messaging.” Later, having been convinced of the practicality of this idea and having carried out tests, they began to increase the number of functions. Currently, Facebook is one of the largest corporations with great potential.

Initially, Uber had only two functions – to connect the driver with the passenger and to make payment. Thanks to this simplicity and relevance, it has conquered a considerable demand market and attracted investors, forming a business with billions of dollars in investments. Today, there are many more functions than two.

There are enough examples: Amazon, Twitter, Snapchat, and many others. They all started as MVPs to test their ideas.

Before launching your business, we recommend using the MVP development service. Efficient, reliable, and minimizes the risk of losing investments.

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