How To Build A Minimum Viable Product (MVP)
A minimum viable product (MVP) is a product development technique in which a new product or website is developed with sufficient features to satisfy early adopters. It is a development and marketing strategy targeted to get feedback from the product’s initial users. It enables companies to test their product in the market early in their lifecycle. MVP is the best way to test your idea in market without huge risk.
“You are selling the vision and delivering the minimum feature set to visionaries, not everyone.” Steve Blank
Here we list out the way in which you can build a MVP for your idea right from scratch
Why, what and for whom?
The very first step towards building a successful MVP is to clearly understand the in and out of the product’s business prospects. To carry out this clearly, you need to analyse the potential gap that currently exists in market between the customer’s need and the current solution that is available in market. Then you need to scheme how you are going to fit your business model in such a way that it addresses the customer’s concern in such a way that it ends in a win-win situation.
Do a clear market research to understand how your competitors have distinguished themselves to create a niche of their own. Analyse the bandwidth of the services they are offering to the same group of customers you are targeting, their key highlights and the places where they lag so you can pitch in to leverage your business in the right way.
Structure a lucid user flow
Put yourself in the shoes of a user and list out all the outcomes he expects from your business model. Now when you have listed the necessary goals of the product, clearly explain all the steps to attain the steps. Sketching out the process stages ultimately helps in drafting a crisp and neat user flow.