5 things Startup must know before launching MVP

Talking about facts, it takes years to develop a software product loved by millions of users. Instagram, Facebook, Uber and many more apps haven't started as full-fledged products. These apps have developed gradually by adding one feature at a time. Suppose you have a great idea and are looking for ways to run that idea. Look for someone that helps you create the best landing page. Experiment with SEO, pay per click, introduce your product on a Youtube blog, and build essential software. These are the examples of Minimum Viable Product (MVP), which comes with using shapes and forms.

MVP Product Launch Definition

Launching an MVP is one of the essential stages of building your startup. It works as the main tool to test the business idea by considering the real-world market. Yet some founders ignore the idea of validation and prototyping stages. This happens in a few cases due to the wrong calculation of the cost of MVP development.

What is MVP (Minimum Viable Product)?

MVP is the kind of version of a new product that allows a team to build and test the product idea quickly and cost-efficiently. Once we launch MVP using minimal features to test the market, refine your software project based on feedback from early adopters. MVP product development enables you to identify the shortcoming of refining your product for robust release.

1: Why does one need to build MVP for startups?

MVP vs Prototype

There is a mis-concept that the product design prototype is the MVP. Actually, it's not. The main difference between an MVP and a prototype is that the MVP is the first version of your actual product, which comes with limited features. While the prototype is the first draft of an actual product, it is declared after testing. Check the image below to understand the clear difference between the MVP and Prototype.

2: How to build MVP?

• Step 1: Start with Market Research
• There are times when ideas won't fit the market needs. Before a business initiates an idea, one can embark on an MVP development process. In the end, the more the data business has, the chances of success are higher.
• Step 2: Ideate on Value Addition
• It is clear what essential estimations are required for the product. This MVP implies the product the most by adding an essential state to introduce value to the product.
• Step 3: Map out the User Flow
• As we know, the design phase is essential, the businesses need to look at the app from the user's perspective, starting from developing the app to the final process. It helps to define the user flow along with defining the process stages.
• Step 4: Prioritize MVP Features
• In this stage, prioritize the MVP features based on the low to high priority. Also, it uses essential steps with arranging product features.
• Step 5: Launch MVP
• Once the business decides upon the main features, they learn about the market needs and help create MVP. Remember that MVP is not a low-quality product, but it still needs to fulfil the customer's needs with ease of use and engagement.

For further read click here !