Minimum Viable Product “MVP”, a concept that gives an overview of the market segment to a budding entrepreneur or a company, about how the audience is going to comprehend the product or services.
These learnings about customer behavior, and receiving validation towards it can be extremely useful to the company, considering the fact that it requires minimal efforts and resources but can be a jewel for a startup.
An MVP application penetrates the gist and the core values of a product to the customers, which helps the company improvise their products or services on the basis of customer reviews before jumping into the market.
Let’s learn about a few common flaws made by the budding entrepreneurs during the process of building an MVP application, with an ambition to make it successful and advantageous for the company.
- Failing To Prototype
In the era of technological advancements, companies often end up making a mistake about building assumptions and predications that are difficult to put in action. Especially when the business idea is inspired by an established platform doing wonders in the particular sector.
Well, when a company is prototyping an MVP it can be in various forms such as Paper Sketches or Digital Prototyping, it is about putting the vaguest ideas into practice to test the outcomes.
Present the ideas in front of your targeted audience, it sure requires a lot of trials and errors, but the final results are worth all the investment. One of the most important point to consider while prototyping is that does the prototype module convey your USB?
If not, reconsider the entire process, and begin with including the key segments and factors in the prototype module.
- Thinking “M” Is For Maximum
One common mistake that every developer commits is not sticking to the roots and instead beating behind the bush with ample of features on an application. A well-known stereotype that the more you offer, the better the response is from the audience has led to the failure of plenty of applications.
Conveying the prime service or product should be the foremost thing in an MVP because a pile of congested features ruins the user experience and thus eventually leads to the application becoming unusable.
As per stated by Entrepreneur.com, lack of usability ranks on number 6 on the list of top 20 reasons behind the failure of a startup.
The goal should be to incorporate ideas that help in taking a step forward towards the end goal and provide solutions as per promised, ancillary features can only lead to blunders and deterioration of the product.
- Pushing Onward When The Market Says “Pivot”
Pivot is a summary of data from an extensive table of averages and figures about the market segment testing going on, often the entrepreneurs prefer to stick to their desired plans.
Even though their mulish beliefs can prove to be beneficial to the startup sometimes, in most cases, it drives them down and leads them to great failure and thus.
Pivot is considered to be an inevitable part of the MVP development process because it suggests the startups with options they can opt and guide them towards the correct path.
Customer responses are the key importance in this process, and so is the market segment, and thus, when a startup experiences severe competition, especially in terms of resources and development, they should rethink the idea of developing the application.
Resources can never be enough for a business, sure, although most certainly when a similar startup comes up with an enlarged team, and double the size infrastructure, it’s always a good idea to reconsider your choices before proceeding further.
- Over-Investing In Marketing
Marketing is considered to be an investment in any sort of business while overestimating your marketing strategies is surely a purposeful thought, but gaining attention more than required can negate the entire process and flip all the strategies upside down.
While we are at it, one thing that needs to be addressed is that conventional marketing methods have surely brought in successful results, but at times, these methods do not reach out to the targeted audience which leads to unnecessary attention towards the product from the undesired audience.
Before you know it, your product has already been the talk of the town, filled with assumptions, before the final product is launched in the market.
Thus, why not take the advantage of our modern-day technology and get your products and services marketed by social media influencers and bloggers who target a particular audience and bring in the desired fizz about the product.
The end goal, after all, is to make people aware of your product in a certain way and cultivate a sense of curiosity about what is on the plate next.
All In All, Avoid These Errors while MVP Development
And Let Your MVP Application Sparkle
Your MVP signifies the efforts that have been put in the product, rather in the process of building a product, it surely is the first step towards a successful product, but as discussed, overestimating its potential by investing plenty of time and finance can only a loss.
Developing a successful MVP tactfully can create wonders for the upcoming final product by bringing in the right amount of attention from the customers and at the same time reviewing the needs, likes and dislikes of the customers.
Thus, let us hold your hand and guide you through the process effortlessly, and make your pathway as smooth as silk.