According to Eric Ries, author of The Lean Startup, startup success can be engineered by following a methodology. One of the components of this methodology is the build-measure-learn feedback loop. In other words, you need to identify a problem, build a minimum viable product, measure how customers respond, and learn as quickly as possible. We provide MVP development services for startups.
Learn about the customer
A successful startup does one thing – it solves a problem for a clearly defined group of people, the target audience. An MVP is a great way to learn more about this audience. You start learning when you talk to your customers, listen to their feedback, respond to their inquiries, and analyze their behaviors in your app. Knowledge of the customer is fundamental for developing a successful product.
Iterate to make a better product
When you develop a product, you want to make it perfect. But the truth about MVPs is that they can't be perfect before you let people use them. The earliest version of your product shouldn't be great; it should be good enough to be launched on the market. Building a great product requires constant work on the functionality and customer experience. You can improve your product if you rely on data and well-defined metrics.
Pivot if your MVP isn’t working
Since an MVP is a test, per se, sometimes it may deliver unexpected results. When your MVP isn't showing the desired outcomes, this may mean you’ve failed to find product/market fit (a phrase coined by Marc Andreessen that means "being in a good market with a product that can satisfy that market”). In this case, you can change direction or start all over. Either way, an MVP saves you time and money and minimizes risk.
Check out our expertise by exploring other solutions that we’ve developed for a variety of business spheres.