Simon Jenner
Monday, 14 December 2020
Building an MVP is crucial step in your startup’s success. Here is an inside look into how to achieve a successful and great MVP.
Posted in:
Startups
Once the time comes to build your MVP, you’re likely very eager. You’ve cycled through the excitement of thinking up your Big Idea, spent some time validating your business case, and perhaps even been amped up by your friends and family who are boasting with pride. You’re now yearning to create that Minimum Viable Product and throw it out into the world.
Although, you may begin to wonder… What does a great MVP app actually look like?
The answer to this question is a bit tricky. We must first establish one thing: a great MVP app does not equate to a successful MVP app. Most successful MVPs actually aren’t very great at all, in the traditional sense of the word.
Let’s dive into why that is.
What an MVP Should & Should Not Be
Your MVP app is not supposed to be a perfected, gorgeous version of your business idea. Building your MVP should not take all of your startup’s resources and time, and most certainly should not be a finalized product that you plan to launch among live customers.
Instead, the motivation behind building your MVP is to create the bare minimum product that can be brought to a test market in order to receive feedback about the direction you’re moving in. This iteration should be a bit rough around the edges but contain the proper components to convey your startup idea. Think of it as an experiment: you have a hypothesis that your startup idea will be successful among your target audience through solving a problem they hold. Your MVP is your way to prove or disprove this hypothesis by testing it on a small scale among early adopters.
The feedback you receive will allow you to determine if you are on the right path or if you would benefit from a simple pivot. This is why we advocate for no-code MVPs instead of traditional methods at Million Labs. No-code tools significantly minimise the time and financial resources you’ll need to devote to building your MVP while also allowing you to easily revise your MVP app once you receive feedback. Similarly, as the current saturated consumer market tends to develop at a rapid pace, the speed that no-code MVPs provide will allow you the resources to test, perfect, and launch your final product before the market has moved on.
Characteristics of a Successful MVP
Unfortunately, there is not a fail-proof list of features that will guarantee your MVP achieves success. However, there are some characteristics we’ve noticed among the successful MVP builds we have been a part of.
1. Build with simplicity in mind.
2. Build quickly and for a low cost, typically through no-code platforms.
3. Include the basic components to adequately represent how your product will act within the larger market once finalised, such as your Unique Selling Point (USP) and main features.
4. Launch on a small scale to early adopters for testing as to not draw negative attention to your in-progress idea.
5. Apply the feedback you receive. At Million Labs, we like to follow the Lean Startup Method by Eric Ries: Build, Measure, Learn. First, you build your MVP, then you test and measure it. Finally, you learn from the resulting feedback and create the next iteration of your MVP, cycling through the process until you have your final product.
Remember, a great MVP isn’t great because it is aesthetically pleasing or a final rendition of your product. Instead, a great MVP is one that is successful. Our team at MLabs is passionate about helping founders build their MVPs with the help of no-code. Sign up for our No-Code Bootcamp to get on your way to building a successful MVP for your Big Idea.
Although, you may begin to wonder… What does a great MVP app actually look like?
The answer to this question is a bit tricky. We must first establish one thing: a great MVP app does not equate to a successful MVP app. Most successful MVPs actually aren’t very great at all, in the traditional sense of the word.
Let’s dive into why that is.
What an MVP Should & Should Not Be
Your MVP app is not supposed to be a perfected, gorgeous version of your business idea. Building your MVP should not take all of your startup’s resources and time, and most certainly should not be a finalized product that you plan to launch among live customers.
Instead, the motivation behind building your MVP is to create the bare minimum product that can be brought to a test market in order to receive feedback about the direction you’re moving in. This iteration should be a bit rough around the edges but contain the proper components to convey your startup idea. Think of it as an experiment: you have a hypothesis that your startup idea will be successful among your target audience through solving a problem they hold. Your MVP is your way to prove or disprove this hypothesis by testing it on a small scale among early adopters.
The feedback you receive will allow you to determine if you are on the right path or if you would benefit from a simple pivot. This is why we advocate for no-code MVPs instead of traditional methods at Million Labs. No-code tools significantly minimise the time and financial resources you’ll need to devote to building your MVP while also allowing you to easily revise your MVP app once you receive feedback. Similarly, as the current saturated consumer market tends to develop at a rapid pace, the speed that no-code MVPs provide will allow you the resources to test, perfect, and launch your final product before the market has moved on.
Characteristics of a Successful MVP
Unfortunately, there is not a fail-proof list of features that will guarantee your MVP achieves success. However, there are some characteristics we’ve noticed among the successful MVP builds we have been a part of.
1. Build with simplicity in mind.
2. Build quickly and for a low cost, typically through no-code platforms.
3. Include the basic components to adequately represent how your product will act within the larger market once finalised, such as your Unique Selling Point (USP) and main features.
4. Launch on a small scale to early adopters for testing as to not draw negative attention to your in-progress idea.
5. Apply the feedback you receive. At Million Labs, we like to follow the Lean Startup Method by Eric Ries: Build, Measure, Learn. First, you build your MVP, then you test and measure it. Finally, you learn from the resulting feedback and create the next iteration of your MVP, cycling through the process until you have your final product.
Remember, a great MVP isn’t great because it is aesthetically pleasing or a final rendition of your product. Instead, a great MVP is one that is successful. Our team at MLabs is passionate about helping founders build their MVPs with the help of no-code. Sign up for our No-Code Bootcamp to get on your way to building a successful MVP for your Big Idea.
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