A Brief Guide To MVP Software Development For Start-Ups
A Brief Guide To MVP Software Development For Start-Ups
The past, present, and future of start-ups are defined by the unique product that they offer to the target audience and the investors. In most cases, it is either software or an application that promises task simplification for a singular user, an enterprise, or an industry. The specs vary, but the intention remains similar.
Now, when developing such a web or mobile application, start-ups are usually confronted with two hurdles; financial constraints and lack of technical expertise. Moreover, there is the issue of timeliness where it takes too long to build the mobile or web application. These hurdles can very much jeopardize the deployment of that one software application upon which the branding of your start-up depends.
So, what can you do as a start-up with limited financial and technical resources, and not that much time in hand? Here is the solution for your start-ups. Read continue to know more.
What is an MVP (Minimum Viable Product) Development?
MVP or Minimum Viable Product is defined as the primary version of a product that allows the development team to gather maximum insight about the consumers to modify or perfect the same in the later stages of product development.
The new custom web or mobile application is built with essential features to attract early adopters or investors and suffice their needs. The final version of the web or mobile application is designed, developed, and deployed considering the initial user feedback.
The concept was introduced and popularized for the start-up ecosystem by Eric Ries, a consultant specializing in start-ups. Some of the common examples of MVP are:
- Crowdfunding projects
- Product demos
- Landing pages
- App demos
An MVP has three distinct attributes:
- It creates sufficient value for the target audience to buy and use the product initially.
- There are demonstrated benefits of the product for customer retention.
- It generates a feedback loop for driving future development and modifications.
MVP for web or mobile app development ensures the release of the product phase-wise, eliminating the possibilities of major development failures. It saves time and the cost of development. The changes made as per the user’s requirement get incorporated via an iterative process of developing, measuring, and learning, which ensures that the end product meets all market requirements.
Why Do Start-Ups Need MVP For Web Or App Development?
We had briefly touched on the point at the beginning of the blog; now let’s get to the details. There are multiple reasons why a start-up might feel the need for MVP for web or app development. Here are the common reasons why:
- Create a test version of the product: Instead of pooling all resources and finances to develop a final product, building an MVP for web or app development is like creating a test version. For a start-up, there is a higher chance for errors due to skill-gap or lack of market insight.
Releasing a test version allows the core team to understand where they are lacking, what needs to be fixed, and what the specific requirements of the target audience are. It saves time, resources, and cost as well. Since it creates a hypothesis for the product; it becomes easier to fix the bugs and operational challenges.
- For Crowdfunding: The MVP is a great way to present a prototype in front of investors to get funding to complete the project. Many start-ups take this road, especially since financial limitations are common for them. Releasing the MVP allows their investors to judge the potential of the product in the long run and the immediate viability from the consumer’s perspective.
- Easy & Faster Release: Software development is usually a lengthy and complicated process because there are multiple stages involved including testing and quality assurance. If a start-up wants to develop a custom web application or mobile app fast giving the target audience a take on the product, then MVP is the way to do it.
- Understand Technical Gaps: Since MVP is a prototype built to test the market and consumer reception, the feedback can reveal a lot about the technical gaps that require fixing in the final product. The team can assess technical aspects for improving the software and incorporate the same in the final version.
- Consistent Product Evolution: Building an MVP leaves room for future scaling of the mobile or web application, which adds product value and fulfills the diverse requirements of the end-user. It also enables the integration of newer technologies to enhance the performance of the product.
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Success Stories of MVP Software Development
Let’s check out some successful case studies of MVP development by renowned companies.
- Facebook: Initially named “The Facebook” we have seen the origin story of the social media platform on the silver screen, but did you know that it was launched as an MVP. The idea was to keep the students connected through the platform.
In the initial phase, it was launched across four American universities. At that time it was a simple application or prototype that was tested on a particular group of audience. A year later it was launched across geographies, giving access to large and diverse demography of users.
- Amazon: Amazon’s MVP was a customized multi-page shopping destination for consumers. It initially began as an online bookstore in the early 90s. It took some time but through continuous evolution of the MVP through the next couple of decades, and the introduction of more products to be sold on the platform, Amazon eventually became the premier eCommerce platform with warehouse and distribution networks across the world.
- Groupon: The initial app was an MVP with the idea to accumulate consumers who would help each other in shopping, run a crowdfunding campaign, and disregard stores and establishments that were negligent in their services. Eventually, the users started sharing promo codes and coupons via the platform, which became the USP of Groupon. This MVP approach helped the company, saving them millions in software development and gaining more insight into what their target audience wanted from them.
How Can Brainium Become Your MVP Development Partner?
So far, we have explained to you in detail, what it means to develop and launch an MVP, how it can help a start-up, along with some of the success stories to give a glimpse of the MVP potential.
The most important step for any business interested in MVP development is partnering with an MVP software development company. That’s where our team of knowledgeable dedicated MVP software developers enters the picture. We have 10+ years of experience delivering 2000+ projects involving web, app, and software development, including MVP software development for start-ups.
We offer competitive quotes, on the same day as you raise the query, after assessing your requirements and business objectives. Post-assessment we will ideate custom solutions ensuring the growth of your business and the popularity of your brand.
Brainium offers a dedicated team of project managers and developers to each client, ensuring that our focus and attention remain undivided when developing a project.
For any other queries, feel free to reach out to our team for an initial consultation and quote for MVP in web development, app, or software development.