How to Build MVP: 6 Steps to Develop an MVP

A Minimal Viable Product or an MVP is a basic product developed with the core idea that describes the application’s functionality. The MVP is worked out to attract investors and to get the feedback of the customers. MVP development helps the team to analyze the product much better and deliver the best final product to the users. MVP development involves various processes, let's get to know about them in this article.

MVP Product Development

MVP product development involves a strategic process as per the product idea, each product goes through a series of tasks to find the right tools and technologies for development. After getting out with the whole development idea, the team moves in the right sequence to develop the final product. MVP development focuses on the core idea of the whole project on which the entire business model works.

Maticz offers MVP product development that helps clients plan their next move in developing their ideas. The development process involves various teams as per the project requirement from designing to development, testing, and more. Developing an MVP attracts investors and helps in raising funds to develop the idea into a final product. Let’s know more in detail about the MVP development process in the follow-ups.

Why Create an MVP?

The simple and easy way to take your idea into the market is by creating and launching your MVP as it is mainly focused on that. Also, launching an MVP is the easiest way to know the user's reaction to the product and to get their feedback which helps the team to improve the user's need in the final product. And going with full-fledged product development involves more time and cost and then again moving with updates based on the user's need requires further time. So, going with MVP neglects all these things and eases the whole scenario.

To create an MVP a team works for a minimum time and brings the core idea to the market, that is how many corporates make their move in every product development. This helps to develop a product with more focus on the user’s need and the product features than the extra add-ons.

How to Build an MVP?

The MVP development process involves various processes from analyzing to development and testing. Here is a basic common outline process on how our team works to create an MVP 

market research

1. Define a Problem

2. Conduct Market Research

3. Analyze the Solution

4. Define the Features

5. Develop Your MVP

6. Test and Launch

Define a Problem

Getting out before the MVP development, the team must know about the problem their product is going to solve, with that the development team may move with the right tech stack and plan their work for a better result of the product. So first the team has to define the right problem and its cause to analyze and build up solutions.

Conduct Market Research

Once the problem is defined, it is time to analyze the market on how the product will be making sounds in the market and what the users require. With market analysis, the team will be able to come up with ideas on how to plan and produce the product as required. This step is crucial as it determines the whole model and the development process.

Analyze the Solution

After conducting the market research, the development team sits down for a discussion on how to design the present the solution for the problem as a product. With the analysis of various statements and research reports, the team has to analyze and come up with the right solution idea to cover every point users would look for.

Define the Features

Got a solution to develop, now it’s time to add some features to the list to complete the core idea of the product. With the right required features, the product is all set for the development process. All the features described must benefit the launch of the core idea and benefit the user in accessing the product for the launch.

Develop Your MVP

Once all is set, the development team may finalize the tools and technologies of the product and plan the development process from designing, and front-end development to back-end development. The development of the product is just the basic version that represents the idea of the model on how it works.

Test and Launch

Once the MVP is completely developed the team takes it through a series of tests which helps to remove and fix all the vulnerabilities and bugs. After passing out every process in the testing phase the core product is all set for the launch which helps to attract investors and to get feedback from the users, for the further development phase.

Benefits of Developing an MVP

There are numerous benefits to developing an MVP, we have listed a few benefits down here for your insights 

Better Outcome

MVP is preferred to get the best idea out in the market, with the MVP launch users get their feedback on the product and this helps the team to develop the final product with better outcomes.

Meet Customers Need

MVP is the representation of the final product so with the feedback of the users and their requirements, the team is all set to develop and produce a product as per user need.

Minimize Failures

Developing an MVP reduces the probability of failure of the final product as the final product is developed with the feedback of the users from the launch of MVP. 

Attract Investors

MVP helps in attracting investors for raising funds to build the final product, every idea needs a simple working model to raise huge so MVP development is the right choice for it.

Minimal Risk

The time and amount invested in MVP development are very low when compared to the development of a complete product, so in case of any failure it results in minimal risk.

Check out the blog and you may know more benefits of building MVP

Challenges in Building an MVP for Startups

Every product development faces certain challenges and here are a few challenges we need to overcome while building an MVP for Startups. Experts and MNCs with years of experience move on with the right process to develop and launch their MVPs, but most of the startups fail because of the wrong move in MVP development and their initial stages. Going with the wrong move in MVP development lets the startup make their final product move in the wrong direction. Here are three things you must focus on,

Failing to identify the need: Working on developing an MVP model, but before going with that make sure you identify the right problem and find out what users need. Failing in this case makes the product underperform in the global market.

Choosing the wrong methodology: Sometimes thinking out of the box results in implementing functionalities that change the flow of the MVP development. Changing out the flow or adding up unwanted functions would end up on the wrong side.

Wrong tech stack: Developers may move with the wrong tech stack just keeping the core functionality in mind which takes the product development in the wrong way and this results in the final product development.

Why Choose Maticz to Build a Minimum Viable Product?

Maticz is one of the leading software development companies that offers various MVP software development to clients around the globe. We have successfully developed and launched more than 200+ projects in the digital space in the last three years. With experience in new-age technologies, our professionals have developed numerous projects for various industries from startups to enterprises.

We work with new-age technologies like Blockchain, AI, IoT, Metaverse, and more to develop and launch an MVP. If you have an idea and looking for the best team to develop your MVP, connect with our experts and we analyze the scope of the project and come up with the right plan to initiate the development process of your MVP.