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Don't know if your idea will be successful, will it be profitable ? Will the business model work and gain an audience. In the case of MVP, at a low cost you can build a basic product (website, web portal or application) equipped with only the necessary functionality so that you can verify your business idea. MVP will be effective in gaining customers, however, without the need to implement full functionality at the beginning, it will also allow you to gain the necessary information about your target audience and the chances of business success. Learn what an MVP is and why it will help verify the assumptions for your business.
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If you're wondering whether your customers will buy your idea, product or service, you don't want to spend a fortune on implementing advanced functionality, it's worth considering doing a beta version of your idea before doing a full-fledged version. It will allow you to convince yourself of the legitimacy of spending more money on your idea.
If you don't know if your product will work
It's worth building a prototype of the idea and exploiting the potential of analytics and user feedback on its performance.
It is often the case that during the advanced development of web portals, a website or dedicated software for your business, we face questions that are difficult to clearly define at the prototyping stage, for example: :
An MVP can be profitable, useful and provide a lot of valuable customer information. You can build an MVP model using a piece of paper or notepad where you write your basic assumptions, i.e.: the necessary functionality you need to launch a website, portal or application.
If you don't have a marketing strategy for your business, a cohesive visual identity or an idea for monetizing your product our digital agency is able to help you determine your startup needs. An essential and important factor before undertaking the creation of an MVP is to determine :
Build a target audience and persona for your business
The solution to the basic questions of designing and creating an MVP is to build personas and a target audience. To do this, it is a good idea to do workshops with the potential audience, conduct surveys and research. It is also a good idea to talk to friends and colleagues about their vision for the product.
As a result of the workshop work with the agency, you will know the profile of your customer and how they will want to search for information and use the product. Appropriately designed roles, user levels will be able to visualize the needs of your future Customers in relation to the product you are creating.
In the course of conducting workshops and 'brainstorming', a list of potential questions, problems to be solved, and a list of functionalities to be broken down into priority ones for implementation into the MVP will probably emerge.
When creating an MVP, it is worth using the MOSCOV method, i.e.: properly define the necessary areas for the implementation of the idea according to the keys :
A base product with limited usability and functionality should be designed and implemented in successive iterations:
After the workshop stage, creating personas and profiles of the target audience, preparing the initial functionalities of our website or portal, we should receive several quotes from different companies. Any interactive agency will be able to determine the cost of the design, implementation and support of our project on the basis of such a prepared MVP. If you receive quotes, it is worth agreeing on a predetermined budget that you do not want to exceed, then the agency will be able to match solutions and implementation in an optimal way to your MVP product.
Top-down costs defined for MVP construction
However, the cost in the case of creating a portal or website will be cheaper than when it comes to developing mobile applications, here the implementation will have to follow the principles of universality of applications for both iOS and Android users. However, it is often the case that a hybrid solution is possible to implement.
In conclusion, in case you are implementing a larger project it is worthwhile to commission an MVP, because you gain:
The MVP protects the owner from bad decisions made before the idea is implemented, and the implementation of the basic version itself can give a different view of your idea because, when subjected to evaluation by real users, it can cause a change in the perception of the problem your product will solve.
The MVP product concept allows you to collect data, it is a prototype for your idea.
Minimum Viable Product allows to verify the assumptions and direction of further development of the application, portal or website.
In addition, MVP gives the opportunity to test the business in real life minimizing the risk of losses, gives the opportunity to find a niche and a business opportunity.
Building an MVP is an iterative process during the prototyping stage and in a workshop model during the creation of its usability.
The profitability of an MVP and its success depends on the value and understanding of users' needs, and these can be very easily checked at the basic concept stage.
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