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

You create a minimum viable version of your product and ship it to market. MVP introduces your initial application idea with its core features. This is how you can test your minimum viable product with your potential users and get their feedback.

TWEAKING YOUR MVP FOR YOUR USERS

With the feedback, you get started on the next stage. You enhance your MVP with additional features, add more functionality and let your users approve it once again to make sure you are on the right path.

FULL PRODUCTION

When the advanced version proves to be a success, you can start with the full production stage. You double down on additional features and design to see your small MVP blossoming into a complex application or even an ecosystem.

BUILDING AN MVP

You create a minimum viable version of your product and ship it to market. MVP introduces your initial application idea with its core features. This is how you can test your minimum viable product with your potential users and get their feedback.

TWEAKING YOUR MVP FOR YOUR USERS

With the feedback, you get started on the next stage. You enhance your MVP with additional features, add more functionality and let your users approve it once again to make sure you are on the right path.

FULL PRODUCTION

When the advanced version proves to be a success, you can start with the full production stage. You double down on additional features and design to see your small MVP blossoming into a complex application or even an ecosystem.

 
 
 

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.

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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.

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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.

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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:

SHORTER DEVELOPMENT TIME

That means lower costs and a quicker release for your app to the market.

SLASHING YOUR DEVELOPMENT COSTS

Well, we’re repeating ourselves, but at the end of the day, every startup is bootstrapping even after their initial seed round. Building an MVP gives you a cheaper path to market which means better numbers for you to present to potential investors. Just remember that it’s always better to save funds with a well-considered development strategy than with a cheap development team.

A MINIMUM RISK FOR YOUR BUSINESS

The quick release brings you faster feedback. Which means you can tweak your app at the early stages when it’s less painful. If you get app-changing initial feedback from your audience you can stop any minute and change any major issues, so you will save funds and time on development.

A CHANCE TO STAND OUT FOR THE INVESTORS

Investing in a substantial MVP that proved to be viable is not the same as investing in a startup founder’s vision. Your potential investor will always ask to see the numbers to back up the dream that you’re selling them. It’s easier to make the right impression with a binder full of data than with a long-winded story. When investors are signing the big checks, you’re going to be glad you built your MVP.

SHORTER DEVELOPMENT TIME

That means lower costs and a quicker release for your app to the market.

SLASHING YOUR DEVELOPMENT COSTS

Well, we’re repeating ourselves, but at the end of the day, every startup is bootstrapping even after their initial seed round. Building an MVP gives you a cheaper path to market which means better numbers for you to present to potential investors. Just remember that it’s always better to save funds with a well-considered development strategy than with a cheap development team.

A MINIMUM RISK FOR YOUR BUSINESS

The quick release brings you faster feedback. Which means you can tweak your app at the early stages when it’s less painful. If you get app-changing initial feedback from your audience you can stop any minute and change any major issues, so you will save funds and time on development.

A CHANCE TO STAND OUT FOR THE INVESTORS

Investing in a substantial MVP that proved to be viable is not the same as investing in a startup founder’s vision. Your potential investor will always ask to see the numbers to back up the dream that you’re selling them. It’s easier to make the right impression with a binder full of data than with a long-winded story. When investors are signing the big checks, you’re going to be glad you built your MVP.

 
 
 
 

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?

FORGET ABOUT CREATING AN APP TO SATISFY EVERYONE

MVP is about the core features only. Save your users from useless features. Not only will they be thankful, but you will save you funds and resources.

DON’T EVEN TRY TO IMPLEMENT ALL KNOWN FEATURES IN ONE APP

MVP is about the core features only. Save your users from useless features. Not only will they be thankful, but you will save you funds and resources.

AVOID CREATING APPS FOR ALL KNOWN PLATFORMS

The idea of MVP is to know will it fly or not. You don’t need an app that failed on multiple platforms. So again, learn your audience and choose the platform they use the most.

FORGET ABOUT CREATING AN APP TO SATISFY EVERYONE

Everyone wants to create the one app that’s going to do it all. We get it. However, trying to create an app for everyone is the quickest path to failure. The best advice ever — know your audience.

DON’T EVEN TRY TO IMPLEMENT ALL KNOWN FEATURES IN ONE APP

MVP is about the core features only. Save your users from useless features. Not only will they be thankful, but you will save you funds and resources.

AVOID CREATING APPS FOR ALL KNOWN PLATFORMS

The idea of MVP is to know will it fly or not. You don’t need an app that failed on multiple platforms. So again, learn your audience and choose the platform they use the most.

 
 
 

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