Do you want to create a startup but are unsure of its success? Or do you need to understand whether a new feature in an existing software will be in demand? It looks like it’s time to launch the minimum viable product with an experienced MVP development company like Codica!
Definition of a minimum viable product
An MVP is an early version of the solution that has all the core features but still needs to be tested with real users. It allows developers to identify bugs and issues at a very early stage, collect customer feedback and refine the product’s functionality.
Statista shows that 25 percent of globally downloaded apps were only accessed once after downloading. To save your business from this final, check the idea with MVP. With an MVP, you can evaluate the viability of your business idea and enhance it without spending a lot of costs.
Benefits of an MVP for your business
MVP is a great way to realize ideas based on customer needs and owner requirements. Among the successful projects that have grown out of MVP are giants such as Uber, Twitter, Snapchat, Apple, and Youtube.
MVP is suitable for everyone: both beginners and mature businesses. A startup needs an MVP because, with it, the founder can choose the right development path at the start with minimal investment and get a chance to grow into a lucrative, global project. For a large business, creating an MVP will be helpful in the case of adding new features to an existing product or creating new business directions.
Now, let’s look at the most obvious advantages of developing an MVP.
Setting clear goals
The minimum viable product works as a simplified version of a large project. With it, you can determine what users want. Also, you will define the market needs and features vital for product success. The MVP development is the perfect way to test assumptions and clearly understand the project’s path.
Reducing money expenses
Indeed, it cannot be said that MVP development is very cheap, but developing a product with full functionality is many times more expensive. To your attention, development costs in Eastern Europe will be much lower than in the United States region.
Also, developing an MVP enables you to use resources more rationally. You will create and gradually improve the structure of your solution instead of designing everything at once.
Startups’ owners can get investment with the help of MVP much easier because MVP is a direct presentation of a working solution. The minimum viable product shows the seriousness of intentions and strengthens the position.
Another benefit of MVP development is saving resources for creating the product’s first version. Creating an MVP and improving with each new iteration will take much less time than building a solution with full functionality from scratch. Thanks to the MVP, you will get to market quicker and still have enough room for change.
Obtaining feedback from early users
One of the main reasons for making an MVP product is to get feedback from the target audience. If you want your project to succeed, you should focus on users and bring their wishes to life.
Surely, user feedback on your MVP is not the same as feedback from the finished product. However, this is the first step towards understanding and dialogue between you and your audience. Analyze feedback throughout the development process and react to it, and you will achieve success.
MVP development with Codica
The Codica MVP development company provides minimum viable product development services, applying our huge multi-domain expertise. So, Codica’s experts deliver your MVP within your expectations about timeframe and budget.
When creating MVPs, the Codica team uses the build-measure-learn approach. It is part of the lean startup methodology. This approach lets you save costs, eliminate uncertainties, and launch your solution quickly.
Codica has helped many clients start with MVP and grow solutions into profitable businesses. For example, Codica’s specialists developed a successful MVP for a service marketplace, PlanMyKids. The MVP was built on time and below the client’s budget from the United States region. Now, this solution is operable and successful in its domain. PlanMyKids helps busy with work parents plan and book kids’ activities nearby.
Injecting funds into a useless project makes no sense. So, build MVP to test your idea and save money on development. If the feedback from users is positive, then you can proceed to the creation of a full-featured solution. Wish you well!