Probably every startup founder has heard about MVP (Minimum Viable Product). Still, there are many misconceptions associated with it. Let’s fight the common MVP misunderstandings once and for all. Keep on reading!
We are not here to discuss basketball. Better to mention that at the beginning. 😀 In the startup world, MVP stands for Minimum Viable Product. MVP is a first version of a software product that is developed and launched in a fast manner to receive feedback from early adopters.
Building MVP is not about developing all the necessary features. It’s about delivering key ones. At the beginning of the development process, you and your development team/agency should decide which features will give the best value to your users.
These features should also help you stand out from the competition. Choose only a few – too many will unnecessarily drag the development process.
No, MVP should be a cornerstone of your solution. After the launch, you should keep on developing the product according to users' feedback and analytics data. It means that during the first stages of MVP development, you have to make crucial long-term decisions.
For example, in the case of a mobile app, you have to decide if you build a native or a hybrid solution (one app for Google Play and AppStore).
Change is understandable in innovations. You probably know the famous pivots that were a key reason for the success of YouTube, Twitter, and Instagram. However, you should respect your MVP plan. In the beginning, you establish the key features you want to build.
If you feel like changing the plan during the process, support your decision with strong arguments. Why bother to create any plan at the beginning if we assume everything can change?
Although MVP is a direct way to get users, you should build your potential users' group long before the launch. So when you launch the product, you have leads that you can inform about the product release.
Just when you decide to build the MVP, build a dedicated landing page teasing your solution. Don’t forget to include an email form, so people who are interested in your solution could sign up for notifications.
You should also promote your solution on Facebook, Reddit, and Discord communities which gather your potential users.
Building a product without marketing activities will decrease your chances of success. Product development and marketing have to happen simultaneously.
Last but not least… I believe that nothing is perfect. Yet, if you consider your MVP perfect, then it is probably too late to launch it. There is a big chance someone already launched a similar product.
Even though their solution wasn’t perfect, they already started to attract your potential users...
Also, remember that it is your subjective opinion that MVP is perfect. You should verify it with users.
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