What Is a Minimum Viable Product (MVP)?
A minimum viable product or an MVP is a digital product with limited functionality, yet which is often enough to satisfy one particular need of a target user. It is a test version of your project that allows you to receive users’ feedback and ensure that your idea has chances for future success.
Minimum viable product development for websites and mobile applications is nowadays common practice in the information technology sector. It is extremely important in the planning phase of any business project or startup. If you have some uncertainties regarding the potential of your product and want to first test your market and see the response from your customers, then an MVP solution is the best tool to use before investing in the full product development
Why an MVP is Important?
- 1. It Materializes Your Idea
Having an idea in mind or document is fine, but receiving a complete clickable version or a design concept may make a big difference. It may look or feel not like you expected it to be. MVP allows you to digitally realize your idea and see whether it matches your expectations, without investing too many resources. Moreover, sometimes your idea may be beyond available technical possibilities for its realization, and that is when Proof of Concept comes handy. Check our MVP development services section to find more about it.
- 2. Fast & Cheap Product Launch
Launching an MVP does not require much time or a significant amount of resources. The product itself should include only the core features of your idea and minimum functionality. Yet this minimum is enough, which allows you to launch it and make a profit right away. You can then expand your project, adding more and more new and tested features to your product.
- 3. Widens Your Audience
It is always better to release a product that already has the audience that anticipates it. If your MVP manages to hit the nail on the head by satisfying a particular user’s need, then you can be a hundred percent sure that there is a wide audience of people waiting for your project to expand. Thus, when you release the full version, you already have customers craving to obtain it.
- 4. It Allows for Real-life Testing
An MVP can also show if the solution that your product offers works in a real-life situation. Theoretically, it may be flawless, but you can never know for sure how your product will prove itself in practical use among target customers. In turn, an MVP allows for going beyond predictions and actually test your digital product in action. If there are some issues, you can always modify and improve the product and then release an impeccable full version.
Choose OTAKOYI as Your MVP Development Company
OTAKOYI is an MVP development company with over 9 years of continuous experience. We dealt with a diverse range of MVP cases and understand that bringing your own idea to life is a challenging and even delicate endeavor. Our company has the necessary knowledge and technical capacity to realize even your boldest venture. We are always attentive to your requirements and focus on your project individually. Our team will choose the development approach and technology stack that suits best specifically for your idea.
We offer MVP development services for startups and for successfully-established companies since we believe that MVP is crucial whenever one wants to release something new and innovative.
Our MVP Development Services To Assist Your MVP Startup
OTAKOYI provides a full range of custom MVP development services that you can choose based on the specifics of your project or its stage of progression.
Discovery Phase is the first and the most crucial stage in the project development. It is an idea validation process when you dig deeper into the details, setting your business goals and collecting the information on your end-customer needs, market response, and eventual business success.
Discovery Phase usually lasts 2-6 weeks, during which you can expect to receive the following Deliverables: business and market research results, user research, user stories, information architecture, interactive prototype, and a UI design.
At the end of this stage, you will get the necessary artifacts needed for project realization. It will help to define actual project terms and allow you to estimate the development costs.
If you have an idea for a complex project and not sure whether it can possibly be technically realized, then you should definitely choose our Proof of Concept (PoC) service. Our MVP development company will examine your idea and apply the best methodologies to prove that your endeavor is feasible and has real practical potential.
As a rule, we can immediately determine feasibility based on our previous experience, but sometimes there is a need to test whether it is possible to finish the project within the set scope, whether the functionality would not affect the performance, to find optimal technology stack, etc. The whole process of PoC usually takes around two weeks or less.
A good idea is often based on solving one particular problem for users, thus bringing value both to them and the market segment. When you have identified your audience and a place on the market, you need an MVP. It is the first usable version of your digital product.
An MVP tests whether your solution actually works in a real context — whether it corresponds to users’ needs and copes with satisfying them. Moreover, with users’ feedback at hand, it is much easier and faster to upgrade your product and implement new features.
Our MVP development company understands the importance of this step and always strives to make the first version of your product flawless.
Choose our MVP development services and get access to a large talent pool of dedicated experts who specialize in custom MVP development.
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