Building an MVP App: A Smart Approach for Startups and SMEs
1 min read
Summary
When launching a new product in the digital space, the smart thing to do, especially for start-ups and SMESs, is to introduce a Minimum Viable Product (MVP).
This is essentially a version of the product that focuses on fulfilling the user’s basic needs, testing key assumptions, and stimulating real user engagement.
Before committing significant resources and finances to a ‘perfect’ product, an MVP helps to test the waters and ensure that the end product will be desirable and useful to the end users.
The benefits of an MVP include a faster time to market, more efficient use of resources, validation of ideas, and the creation of early revenue opportunities.
However, startups should be careful not to Misjudge what is ‘minimum’, ignore real feedback, build without clear metrics, focus on design or perfection, choose the wrong technology stack, fail to define learning objectives, and not know when to move beyond MVP.
If an MVP is successfully launched and well-received by users, the next step is to scale up and improve the product.