KnubiSoft's approach to MVP development
New product failures are common in the tech industry. According to Gartner's research, the failure rate ranges from 40% to 80%. However, MVP development can become a go-to solution for startups to validate their idea and prove business value.?
The McKinsey & Company study confirmed that companies taking their first steps with MVP development were 1.5 times more likely to exceed their business goals than their slower counterparts. In this article, we’ll define the MVP and focus on KnubiSoft case studies to uncover the key principles that helped companies drive success.
What is MVP?
MVP stands for Minimum Viable Product. It's a concept in product development that emphasizes creating a product with just enough features to be usable by early customers and validate a product idea before investing a lot of resources.
Here's a breakdown of the key points of an MVP:
From disruptive tech startups to established companies venturing into new markets, all types of organizations can strategically benefit from MVPs, validating their assumptions, mitigating risks, and making informed decisions. We will equip you with tangible examples and actionable takeaways below.
MVP Development Case Studies
Knubisoft has many examples of successful MVP cases. Through these real-world examples, you'll gain valuable insights into the practical application of MVPs, learn about the challenges encountered along the way, and understand how to overcome them.
Working Eye
MVP for a web-based platform that addresses a crucial gap in career guidance for teenagers.
Challenge?
Our client’s goal was to craft the solution with tight budgets and strict deadlines.?
Expectations:
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Solution?
Instead of using HTML/CSS, our Solution Architect offered to opt for React and TypeScript. With these technologies, data creation and dynamic uploading became much more manageable, aligning perfectly with the client’s aim to create a future iOS, Android, and Smart TV platform.
KnubiSoft front-end developers used React and the React Router Dom to craft and connect pages to databases. Our team integrated IBM Watson into the front end and customized its capabilities to build a chatbot. Also, we employed Discovery Watson for the database. This allowed uploading custom files or performing web searches using keywords whenever the chatbot received user requests.?
Our QA team conducted manual testing, examining the workflows and chatbot extensively. KnubiSoft engineers used tools like WhatFont, Perfect Pixel, and ColorZilla to match the MVP with the actual mockup.? ?
N?z
Intuitive and engaging prototype for the Mindful Consumer Club app.
Challenge
The KnubiSoft team’s task was to build a functional prototype from scratch to help the client test and validate ideas, receive feedback, and get funding for future app development and launch. The client didn’t have any technical background and needed IT consulting on software development to present the product to investors.
Solution
Our team developed product requirements and a backlog. Then, we created two user workflows: the first focused on clothing recycling, and the other on clothing repair. Also, our designers produced wireframes and mockups. Additionally, we developed the necessary infrastructure, devised a technology roadmap outlining technical specifications, established a timeline and budget, suggested a technical team structure, and defined post-development support.
As a result of our partnership, the client got a functioning prototype ready to be showcased during the WORTH Partnership Program to secure funding.
Conclusion
MVP development is the proven way to open doors to innovation, increase your chances of market success, and lay a solid foundation for future growth. It provides many strategic advantages for businesses, helping them validate ideas, gather feedback faster, and get funding easier.?
If you want to learn more about MVP development or need a consultation, the Knubisoft team is here to help you. Contact us here or reach out to our sales team at [email protected]