The MVP is the ultimate prototype of your product that contains all the features that are needed to place before the market. So, developing a good Minimum Viable Product aka MVP help to build a strong base for your startup and avoid lame failures. It helps you to release a half-baked product in the market with features or solution that can solve the major pain points of target customers. This will eventually give you a scenario or test case, how the fully grown app will perform. Will it be acceptable in the target market? Does it miss out on any feature? Or is it simply a failure?
MVP can enlighten the pros and cons of your products and help you with your business. Though unfortunately, startups usually neglect the MVP and often handicap their product right from the beginning. But that is what you should never risk.
So, here I am to help you swipe through the loopholes and develop the product you desire.
But prior to that, you need to know…
What is a Minimum Viable Product?
MVP is the basic version of your desired app. With the elementary features, the minimum viable product justifies your startup idea.
Read More: A Guide to get Started with Your MVP
The MVP is made to try out the reaction of the users to your app and receive a feedback ASAP during the development phase. This helps minimize the risk of failure and shortens the wastage of both time and cost involved in the development phase.
5 Usual MVP Development Mistakes
We agree with Alexander Pope on his saying, “To err is human” but to build a successful product, you must watch your steps and dodge these 5 mistakes I’m gonna tell you about.
1. Wanting A Complete Product
Startups usually do the common mistake of misunderstanding the purpose, the idea, with which an MVP is made.
An MVP is supposed to be a bare-bone product created with the sole purpose of trying out the most basic proposal the startup had ideated.
This approach towards the product makes them misunderstand the users’ requirements. This unfortunate happening leads to misuse of development time, economy and effort in search of a finished product.
2. Neglecting The Market Research
Not being aware of the market is one of the prior reasons for a startup to fail. Most startups fail as the ideas they created are not unique. This happens only due to insufficient market research, which costs them both with money and time. And after completing the process of building an MVP, they find out there are a lot more similar products in the market and they don’t even have any competitive advantage over their competitors.
3. Dodging The Prototype Phase
Prototyping is one of the most important phases while building a perfect MVP. Though many startups tend to skip this phase to start the development phase as soon as possible, which a startup is never supposed to do.
Creating prototypes allows one to bring the project hypothesis to life. It also lowers the monetary risk and clears the doubts about the product. Even while presenting the app to a client, visual representation with the help of a prototype is the best way to serve the purpose.
4. Improper Development Team
Having an inexperienced and unprofessional team for the development of an MVP is another reason for the startups to fail. Building an MVP requires having a professional team of designers, developers, QA engineers and PMs with proficient skills and capable of delivering a project within a strict deadline.
Missed deadline and feedback interpretation issues are a must when a startup is working with an unprofessional team. The team that never delivered an MVP is surely gonna miss deadlines as timing matters the most in this sector.
Other than that, once an MVP is out, the team assigned to develop it is meant to deal with the feedback. Usually, an inexperienced team faces problems with the feedback interpretations and fails to take further steps and deliver the final version of the product.
5. Creating The Ideal Product
An MVP is meant to serve the purpose of representing the best minimum version of the complete product. It consists of the features it requires getting tested and turn it marketable. So the startups should keep in mind, they are providing the customers with what would your app look like, instead of the actual app. In spite of putting too many features, try to put the best of them in your MVP to make it acceptable among your users.
Ready To Build Your Cost-effective MVP?
Do you have any idea why maximum startups fail? Well, the utmost product they had placed in the market, sunk.
The moment you realize this fact, developing the MVP in the best way possible becomes your only target.
Identify your mistakes and walk them off. And if you haven’t started yet, guess, our blog has already given you a guideline of what to do and what not to.
If you still face problems building the perfect MVP for your startup, we got your back. Innofied never disappoints their clients.