Feb 07, 2023
Some of our customers came to us with the goal to create a final version of their application right away. After that we spend about 30 minutes discussing and challenging customers with different questions to make sure he understands why he is doing that The reason is simple. 90% of applications when they are just getting started look nothing like they do when they are big and successful. Airbnb, Twitch, or Stripe are just a few examples of how obvious this is So we've decided to explain a bit what an MVP is, what functionality should be included there, what tools you can use for MVP, and what milestones you might encounter.
Focus on core features: The goal of an MVP is to test your concept, so it is important to focus on the core features that are essential for delivering your value proposition. Avoid adding non-essential features that do not directly support your value proposition.
Determine what can be added later: Consider what features can be added later, after the MVP has been validated. This will help you to prioritize what needs to be included in the MVP, and what can be added later when you have more resources and time.
Typically, we spend at least 30 minutes with our customers to understand what functionality should be there in the first steps, sharing our experience on launched tools and discussing what has worked and what hasn't.
How to choose the right option for your MVP
Coding can be a daunting task for those who are not familiar with the layout and syntax of a particular language. No-code tools make it easier for beginners by providing access to code snippets and templates. Additionally, some no-code tools come with integrated development environments (IDEs) that make it easy to build and test your code. However, make sure to choose the right no-code tool for your project before making a purchase. This will ensure that you get the most out of your investment.
Whenever we create MVP, we try to choose a tool for your project which may scale and play out for your project pretty fine. Some examples of MVP realizations are:
1. Landing page - create a basic landing page to let customers know what you have and suggest them to buy it. On this step you can simply put a link to book a call and chat with the customers about the product that may not exist.
2. Application - create a basic application for your customers after a couple dozens of CustDev interviews. The right strategy will be to create a low code application that scales (like Flutterflow app) and publish that. It will cost you more, but will let you to use different product channels
3. Chat bot - put a landing page and all the product flow in the chatbot. A simple chatbot will be twice as cheap as a full application, but you will gain a deeper understanding of how the product works and generates revenue.
4. Post on existing markets - you can use already existing marketplaces and some platforms which may allow you to publish your idea and web with existing traffic and start getting traffic and revshare with the owner. Might be a good way to test applications and get the first traffic. Platforms like that usually have simple internal tools to create a landing page and publish some items there.
Budget for MVP is difficult to specify, but I think it’s around $1k - $10k depending on the type of product you have. With Bleakers.co you can jump on our consultation and think on strategy on how to develop your application and what your MVP may include.
Nevertheless, the point is simple - before you make an MVP, determine the pain points you want to resolve and the best strategy for success.
Some of our customers came to us with the goal to create a final version of their application right away. After that we spend about 30 minutes discussing and challenging customers with different questions to make sure he understands why he is doing that
The reason is simple. 90% of applications when they are just getting started look nothing like they do when they are big and successful. Airbnb, Twitch, or Stripe are just a few examples of how obvious this is
So we've decided to explain a bit what an MVP is, what functionality should be included there, what tools you can use for MVP, and what milestones you might encounter.
Basically, the MVP is a project with core functionality which can help your customers and be a proof-of-concept. This is a good starting point for traction, revenue, and investment.
Understanding what your target audience wants and what can help them resolve all their problems is essential to creating an MVP. The basic steps in this process are:
Identify your target audience: The first step in understanding what functionality needs to be in your MVP is to identify your target audience. Consider their needs, pain points, and goals, and use this information to determine what features are essential for meeting their needs.
Analyze your competitors: find out who their customers are and what their value propositions are by checking their websites and information in Crunchbase, Linkedin and other sources.
Define your value proposition: Your value proposition should define the unique benefits that your product offers to your target audience. Use this as a guide for determining what features are necessary for your MVP.
Determine the strategy for your own MVP