Minimum Viable Product (MVP) Business Journey

An MVP (Minimal Viable Product) is the standard starting place for building an app. The idea is to create a simple version of an app, test it with users, and use their feedback to improve the app. Initially, an MVP's definition includes anything that could prove a concept. Yet, developing a basic version of the final product as an MVP has become the norm.

This focus on product building has its logic. On the one hand, users expect more and more out of the products they use. On the other, founders are anxious to put something real and attractive in users' hands. Also, investors need to get the most valid testing results. Since an MVP can be costly, this can be a risky gamble. This strategy has caused many founders to flame out before they could start up.

What is the Process to Create an MVP?

Understanding the journey from idea to product isn’t a direct route is essential. It’s a dynamic process that transforms an idea into a solution. The feedback loop doesn’t affect only after an MVP gets released. Instead, feedback opportunities exist before writing any piece of code. You can follow common steps to cut risk and guarantee a complete product.

1. MVP Problem

Define and understand the problem of your MVP.

Behind every great idea is a problem needing to get a solution. And you know that "need" is a tricky concept. There's a big difference between "have to have" and "would be nice to have." Think about MVP Design: this is always much clearer in hindsight than in the moment. As a founder, you'll have to play the role of the investigator. This is relevant to determine whether their supposed user pain point is fundamental. You can apply several learning processes to understand the problem at this stage. For example, surveys and interviews.

2. MVP Assumption

Identify and test the assumptions of your MVP.

Every idea has an assumption (or several) that underpins its potential for success. If that assumption becomes false, the whole business is not workable. Imagine, for example, if people were unwilling to buy shoes without trying them on first. If that were the case, Zappos would never have existed. Its founder, Nick Swinmurn, built a simple site offering shoes from local stores. If users ordered shoes, Swinmurn would pick them up from stores and ship them himself. This thought process was to test home-shoe buying assumptions. Its results were enough to prove that, in fact, users would be willing to buy shoes online.

3. MVP Solution

Create and test solutions for your MVP.

“I want to build….” The idea of solving a problem is usually in mind from the beginning. Yet, at some point, a project will start to focus more on the solution than on the problem. So, the solution phase begins after the problem and assumptions have been worked out. Only then does product building starts. In many cases, this process can begin with prototyping tools like Invision. The idea is to make a clickable wireframe where users can try your app and give you their feedback.

Conclusion

When making a product, there’s no one formula for getting it right. What’s common to all is that going all-in on a product without validating the idea is a bad strategy. Bringing an idea to a full product is a complex process. Those who work hard to test products with as minimal risk as possible has the best chance to win. Do you have an idea? Take it to the next stage and make it an MVP!