What is your strategy to commercialize your idea?
The question that bothers every startupper is: “How to minimize risks when bringing a new product to the market?” The answer is “Build a Minimum Viable Product first”.
Building an MVP in real life
To help you understand how things work, we have a real-life example. Let’s say you are building a house with an MVP approach.
Building an MVP in real life
To help you understand how things work, we have a real-life example. Let’s say you are building a house with an MVP approach.
Imagine that you have to build a house, with no background in architecture or construction, to safeguard yourself and your family from the harsh elements. What strategy would you use to ensure that your home can withstand all that nature can throw at it? You would begin with a floor, or maybe even a pit to build a basement. From there, you would build walls and a roof, design windows and install a central heating system.
Suddenly, your family no longer has to fear a coming chill or downpour of rains. But what if you want to go further? You might add a second floor. You might want to leverage the latest technologies and add solar batteries or windmills. Then, last of all, you might build a golf course or a hothouse to grow your own greenery. The same is true when you are building your app to bring to market.
Creating an app is complicated for even the most experienced developers. Many of them get bogged down in the nitty-gritty of creating a UX/UI that fulfills their entire wishlist of features. However, in order to avoid the costly development cycle, developers choose to create a barebones version of their app that introduces the initial idea to the public while gathering feedback. In app development, this is the MVP that leads to you building an entire ecosystem and community around your application and service.
Why MVP is the right strategy for your startup?
Building an MVP allows you to determine if your app will fly or fall in the early stages of development. Some key advantages of building an MVP include:
What do you need to develop an MVP?
As soon as you have your startup idea — you are 70% ready to build your MVP application. In order to finish the job, you need to know your budget and how much you are ready to spend on your MVP. Any good application or service has to have a deep understanding of their target audience and whatever issues that they are having. From there, you simply need to determine how your app will solve those issues and what must-have features you’re going to want to build into your app. What should you avoid when building an MVP?