When is a "Minimum Viable Product" not viable?

Introduction

For startup founders who are familiar with the lean startup model, we know that the main goal of an MVP is to learn as much as possible from the users (or the market) while minimizing the time, effort, and resources needed to create the final product.?

Which means, the job of the minimum viable product (MVP) is to quickly test and validate a business idea with minimal resources and investment.?

Only the essential features needed to satisfy your early customers and gain feedback from users are often built into a minimum viable product.

But can a business/founder go wrong with their judgement of what should be in their minimum viable product?

Let's take a look at these 3 scenarios

Scenario 1: Building a product for a large and already-established industry

If you are building a product in a market that is already well-established,

For example, if you are building a social media platform, that competes with the likes of Facebook, Instagram or X(Twitter)

First, you'll require the expected features of a social media platform but you will also require the unique features that set you apart from your competitors; Facebook, X(Twitter) etcetera

Scenario 2: You want to build a product that usually has complex features

If your product requires complex features or functionality, for instance, if you are building an accounting software, or a CRM that's combined with ERP for your organization

You may need to create a first product that definitely includes all the necessary features and functionality you require.

Scenario 3: You want to build a product with a high price point

If your product has a high price point, caters to the wealthy or affluent or is considered a luxury product and must be pitched as such to the users,

For example, if you are building a wealth management app, luxury auctions app or an app with exclusive memberships,

you may need to create a first product that includes all the necessary features and functionalities that your audience requires.

Let's Discuss A Different Concept: The Minimum Awesome/Minimum Delightful Product

A minimum awesome product (MAP) or minimum delightful product (MDP) is an extension of the MVP concept.?

Unlike the minimum viable product, which is focused solely on delivering a basic version of the product,

The Minimum Awesome Product or Minimum Delightful Product is designed to deliver a product with the minimum features required to make it stand out from the competition and provide a delightful user experience.

The difference between a minimum viable product and a MAP or MDP is that while the MVP is focused on providing a product with minimum features to meet the needs of early adopters and validate the concept,

the MAP/MDP is focused on delivering a product that not only meets the basic needs of early adopters but also provides an exceptional user experience that sets it apart from other products in the market.

Conclusion

While as early stage founders or business owners, you may be torn between these two options, it's important to understand that an agency like NerdHeadz - Bubble.io Design Agency exists solely to help you figure out your path, so don't hesitate to reach out.

Most importantly, we offer free cost estimation sessions to determine how much it would cost to build an app idea using our no-code app development service