What’s a
Minimum Viable
Product?
Got an idea for a product?
Begin with KISS principle – Keep It Simple, Silly.
Minimum
Minimum features, minimum cost possible, minimum time-taken for being market-ready.
Viable
Feasible enough to encourage the user to try the product or pay for its use.
Product
The outcome which can be a service or a tangible item.
Amazon started with
an MVP approach.
By July 1995, Amazon started as "Books on Internet"
Within two months Sold books to 50 states 45 countries. Sales up to $20,000/week.
By 1998, it added product categories, innovative products, customer-centric features and much more.
Became "The everything store".
Why MVP building is trending ?
Not an MVP
Follow MVP
Benefits of MVP
Reduces time to
market
Data backed
iterations.
Lowers the cost of
development
Receive market
validation
Analyze technical
obstacles
Can all ideas be turned into an MVP?
Practically, yes. This is what MVP experts say.
It can be a simple network building website, like Facebook, when it started in the year 2004. Or an idea to integrate the system with Artificial Intelligence technology. And everything else, between these two.
Tips for a good MVP
Build your MVP for one person
Remember, it is not about building less
Take enough
feedback
Small, contained launch
Market testing
is a priority
Talk to our MVP expert for consultation
You can estimate the scope, cost and time for
your MVP development using our “Scope
Estimation Tool”.
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