How An MVP Software Development Can Help Start A New Business

When it comes to checking the feasibility of your project idea, one of the things that can be economically reasonable and helpful is MVP development. This tool lets you test your business idea quickly, qualitatively and within short terms. And one more advantage of MVP development is its competitive cost compared to traditional software products.

If you want to learn more about an mvp software development process, follow the link. Professional tips from Purrweb experts will help you clear up many questions, avoid mistakes and get the product you dreamt of.

What’s are MVP benefits

MVP is an excellent opportunity to find out whether your offer is required in the market. The theory is a theory, and only practice can confirm or refute your hypothesis regarding people’s needs and interests. 

There’s a widespread delusion about MVP development. Some startup owners think of it as a draft or prototype of their future project. This is not so. MVP is a simple but absolutely functional product that can help you earn first money in a new business. 

Since there’s no guarantee that your idea is what will bring millions to the table, it isn’t reasonable to spend tons of money to check its practicability. You can embody your project within an acceptable budget. If your startup doesn’t require super complex functionality and UX, MVP development will cost approximately $5000-10,000. An MVP can be built several times cheaper than a full-fledged solution. 

When we are talking about fundraising, it is essential for success to have something tangible to attract the attention of investors. MVP allows you to prove the viability of a business idea and get money for project scaling. 

Thus, there are three main benefits you can win with MVP development.

  • You get a functional product that can be used by real users in the short term. The faster you deliver your app to the market, the more chances to overtake your potential competitors.
  • You don’t spend too much money to check your business hypothesis. As far as launching MVP is just a start of your business journey, it’s better to keep the money for further development: advertisement, marketing and other needs. 
  • You increase the possibility of getting investment in case your project will show growth. Business angels prefer to encourage entrepreneurs with tangible products and results. Since you get first money via MVP, there is a chance to be successful with fundraising.

How to start an MVP software development

The process of MVP software development can be subdivided into several stages. Like the traveler who is intending to discover new lands, you need to prepare for adventures. Draw the map with checkpoints in order to know that you are on the right path to success. 

1. Learn more about the market, research your competitors.

Sailing in unknown waters can become a dangerous adventure if the captain didn’t prepare for the obstacles and uncommon situations. The same thing is fair for an MVP software development. Try to figure out what people need and what they are ready to pay for. Check if there are competitors in the market, identify their strengths and weaknesses and transform the last ones into your advantages. 

2. Depict your idea in a few words

Every startup owner is eager to change the world for the better. Try to explain in a nutshell how people will benefit from your project, why it is worth using. The more precisely you can formulate the idea of your product, the greater results you will get as far as the development team could be able to deliver the core value to users. 

3. Identify the core features of the product 

Gather your team in order to brainstorm what functions in your MVP will be the most important. Your aim is to define what features are crucial for your product and what can be implemented later. Here your ability to think critically and prioritize properly will play a significant role.

4. Draw the user flow

Now, when you know who will use your project and why, it is time to answer the question: how? Put yourself in the place of your potential client and describe all the steps you need to do in the app to achieve your goal. Write them down, discuss and check whether it’s the shortest and the easiest way to solve the problem.

5. Entrust an experienced IT-team MVP software development

At this stage, it’s time to cooperate with the trust-worthy developers who can turn your plan into a real product. This process traditionally takes about three months. Step by step, every two weeks you will see interim results. If the team works in an agile approach, it’s possible to add changes to the backlog – something like technical tasks for specialists.

As long as the team is devoted to the nuances of your business, they can share their vision and help you improve your solution, leaning on the experience in the industry. 

6. Download your app to the store and get feedback

The information from real users is precious. Thanks to it, you will be able to make your app better: add functions the users need and get rid of those which they don’t use. You can also discover new opportunities to monetize your product in the process. Like Yandex Go or Uber figured out they can transfer new offers to the same audience.

Amazon, Uber, Zappos, Dropbox… There are plenty of companies that started their business successfully with an MVP development. You never can predict what idea is worth a million. The only way to find out is to start a business.

One of the things that prevent startup founders from an MVP development is fear of having troubles with project scaling in the future. This can be solved with properly chosen technologies and well-thought architecture of the product. If you work with an experienced team, UX designers will plan your product with an opportunity to add advanced features later. So, the growth of the product will be smooth and painless. 

You can face a lot of questions starting an MVP development process like native or cross-platform development, traditional UX design or original, etc. The best way to solve them is to communicate with an experienced MVP development team. Specialists at Purrweb are open to discuss all the issues you worry about and to find a solution that matches all your desires.