What is an MVP?
The minimum viable product strategy has become extremely popular in all kinds of business ventures due to the minimum risk that it gives when you are looking to test a new product without having to make a full investment. In this article, we are going to give you 10 powerful tips that are going to help you get the best results when trying to build your MVP.
We all fear getting started. Stepping forth into the unknown future. Taking the risk of following our dreams. This seems to be the hardest hurdle to overcome. If only there was an easy way to get started, build momentum, and keep that momentum.
There is — and it’s called a Minimum Viable Product (MVP).
1- Create a roadmap
You need to be able to create a realistic roadmap if you want to be able to get the kind of results that you want when you get started with the product development. You need to focus on the core customer needs and forget everything else.
2-Find a good niche
The more exclusive the niche, the higher the chances customers will find it very useful to them.
3-Check the competition out
You need to know exactly what your competitors are doing and how much they are charging for similar products.
4-Get the marketing going before the product is ready
It might sound like too much of a risk, but if you already have a product plan in mind, you can start advertising it even before the MVP is ready.
5-Once it’s done, stay with it
This means that once you have your MVP, you should avoid trying to tweak it too much as it will become a complex solution and that is the last thing you want when you are running tests.
You need to ask people in your team and also individuals unrelated to the project for their opinion. This is going to allow you to get better results in the long run.
7-Unfinished should not mean buggy
When you release an MVP, you need to make sure that it will work properly and that it will provide the required results. Even if the product is bare bones, it should be functional and bug free.
8-Make sure that you focus on good PR
Customer service and PR are essential with your initial audience because they will be the first people to spread the word about your product. Make sure that they are satisfied with the results and that your customer service is as good as the product itself.
9-Be creative and maintain the MVP mindset
You should always keep the MVP mindset even after you start to upgrade your product. This is going to be very important and useful in every aspect of your product development. Never lose sight of keeping things as simple as possible.
10-Constantly improve your MVP
It can be hard to improve something and attempt to keep it simple at the same time, but it can be done with proper research and tons of creativity.
Keep in mind that the MVP is meant to help you test the waters, but you should also take risks and improve on the successful MVP that you launched. The trick is to make sure you reduce the cost for the customers as much as possible without sacrificing quality.
Does Your Startup Need MVP?