Do you have any idea, but not sure whether it will succeed? The dilemma of getting failed prevents you from taking risk, right? MVP -Minimum Viable Product is the way to check this out.
The MVP refers to Minimal Viable Product that is also the beginning, sketch or blueprint of any project development. In simple term, when you construct a house, you lay the foundation stone and prepare a base structure which defines the building’s robustness and entire edifice.
Similarly, MVP also lays a foundation stone for your project and let you analyze whether the app has all potentials to succeed. In app development, a developer creates an application integrating only the most essential functions and that spread across its investors.
MVP is essential for any new and exclusive app development project as it saves time and cost from waste. You can properly analyze the potential of the project before you go ahead with the initiative. There are few things required for MVP app development which we have explained in this article that you need to know them.
The Significance of MVP
The MVP is said to be the concept based on “Minimum Effort, Maximum Learning”. That means when you start a business, you never know how it will react in future and how the users will interact with the products. Therefore, the MVP reinforces the Build-Learn-Repeat Model so that you can take action based on the user’s reaction to the product. In short, you get chance to test your ideas in the real market by providing minimal yet sufficient features.
Let’s find some of the market findings which help you understand why MVP important to begin with.
- 74% startups fail due to the premature scaling, even after having high growth internet
- The startups that scale perfectly achieves 20 times faster growth rates
- 20% of startups just run out of funds or have loose investors by the time they fully established
These stats clearly show that how you can grow smoothly and competitive with the help of MVP.
MVP Eliminates Riskiest Assumption
One of the ultimate goal or you can say the ultimate yet the riskiest assumption is your conversion or selling proposition. And that is validated with the help of MVP. It is important to make sure the outcomes.
Help You Create Marketing Strategy
MVP gives your chance test your product strategy and testing the product strategy helps you understand the most of characteristics of the products, define products’ habit, needs and recognize the target audience. Having all these things will enable you to create final products which hardly fail.
Help You Avoid Overbuilding
When a product is created without product strategy, there is a chance that you will end with many undesirable features. This usually happens while creating a product hypothesis and that is validated when the MVP is introduced in the market. So, the MVP enables features testing and the final products should be built on the basis of that.
MVP Reduces Re-Work
If it is not MVP, then it is possible that you may have to start from the beginning over and over again. In fact, it takes a lot of efforts, manpower, resources, and cost throughout from ideation to implementation. If it is MVP, then you do not need to start all over again. It will, definitely, reduces the rework.
Validates Concepts instead of Guessing
Validating concepts make you confident and provide you energy in a positive direction. Validating concepts means it does not resolve anything hypothetically, but it identifies the problem and proactively addresses it with the solutions.
In simple term, when you construct a house, you lay the foundation stone and prepare a base structure which defines the building’s robustness and entire edifice. Similarly, MVP also lays a foundation stone for your project and let you analyze whether the app has all potentials to succeed. In app development, a developer creates an application integrating only the most essential functions and that spread across its investors.
Why MVP Integral to Business?
- MVP as blueprint can help attract early investors
- Helps business avoid failures
- Get comprehensive analysis
- The maximum and minimum success percentage of the project
- How far the project is important and useful for potential users
- Let you the understand the required way to develop the project
Who Needs MVP Development?
MVP is a common practice that is applied to every business enterprises and startups when they take any initiative. If a new enterprise starts applying the traditional way of implementing, then it could lead to failure as there no analysis of its potentials and success percentage. Therefore, MVP development is very significant for a startup or small and medium scale business to save cost and time.
How MVP Development Helps Startups?
MVP is designed, especially for startups or small business enterprises just because they are with limited resources and capitals. In such case, MVP helps them achieve success in less resource and cost. For example, a Full Stack Developer, on the other hand, offers more relief in terms of cost and time. Here is couple of case studies in brief which explain you how things start with MVP.
Here we have explained two case studies of popular Foursquare and Airbnb which will help you understand how these two start became brand.
Initially in 2010, Foursquare started with location-based service only with couple of features only. For example, the app contained only one main feature -Check-ins and badges. Now, it is quite different what it used to be at its initial stage. In fact, the app is full of features, complicated designs. You will find plenty of features including city guides, recommendations, and stickers.
When you have a product concept and you launch products, then it is possible that you will come across some new ideas and new way to re-introduce the concept. In fact, some ideas you will come across accidently and that is possible only when you introduce MVP. Something similar happened in the case of Airbnb.
In fact, the idea of creating Airbnb came accidently as the two friends when they faced difficulties and were not able to pay rent, they thought to offer the apartments, and they were living, on rent. They offered apartment as cheap accommodation to the people in the region. That’s how it started.
Interestingly, how they started this big initiative: They did nothing except a simple website with couple or more photos of the apartment. Now, you very well know the popularity of Airbnb.
Very soon they found out that a demand for the service was extremely growing. Nowadays Airbnb offers to its users, except millions of available flats and houses all over the world, such an unusual experience as cycling, visiting VIP parties and food tours.
Now to Make your MVP Project successful yet cost effective, You need qualified Full Stack Developer as your MVP development Partner. In the following paragraphs you will find everything about Full Stack Developers.
Here We Go;
The Glimpse of Full Stack Developers
So far you may understand what MVP development is and how Full Stack developer help develop it. However, let’s begin with who are Full Stack Developers.
For beginners, a Full Stack Developer is someone who knows both Front-end and Back-end development. In short, he is the one who can manage all stages of development of the project from ideation to implementations. To make an application need to hire many individuals to carry out certain tasks. For example, you need to hire Front-end developer for front-end tasks; back-end developer for back-end tasks; designers for UI and UX; test engineers and give lots of time and money. But, you can minimize development cost and time by hiring a single Full Stack developer.
A Full Stack Developer is a master in;
- Post-deployment support
Among development fraternity, full stack developers are known as Jack of all trades. So, that (the tag) actually defines their work. You have plenty of benefits of hiring Full Stack Developers. At the same time, it will help get your project completed within the given time. You can also go through our previous post that gives you complete overview and Significance of Front-End vs. Back-End vs. Full Stack Development.
Benefits of Full Stack Developers to Make MVP Projects
As MVP project is (at the initial stage) mainly for testing the potential of it, Full Stack Development can best fit such project. Because, Full Stack Developers can work on every need (Front-end & Back-end) of the project. As a result, it will save time and cost. Here’s the detail why you need to Hire Full Stack Developers for MVP Development;
Full Stack Developers have knowledge of both Front-end and Back-end
- They know better about making the projects damn successful
- Full Stack Developers handle project one-handedly
- Switching between Front-end and Back-end becomes easy for them
- Deadlines followed as he has wait for no one
- Post-deployment support given
There are defined the purpose of the MVP project and that is to attract early adopters and analyzing the potential of the application. Therefore, it has to be developed within a limited budget. It does not contain any precise details of the products and services; rather it is just like a sketch of planning that gives people glimpse of what the project is going to be and what it will deal in.
So, if you are looking to hiring an individual to build MVP -Minimum Viable Product for you, then you may find many options as far as the cost of hiring Full Stack developer is concerned. The cost of MVP development will differ on many factors such as the developers you hire and the country you choose to hire from.
Full Stack Developer Cost in the USA for MVP Development
Basically, the cost to build MVP app development by Full Stack developer may cost around $20,000 to $30,000. However, it will be extremely cheaper if you choose to hire developers from other countries like India. You can get your app developed just in a $15/per hour.
The bottom line of the content is to provide you with the glimpse of MVP software development. At the same time, to let you know how Full Stack developers and development tend to save your invaluable time and development cost. MVP is the just the initial part, and it enables you to analyze prospect of the application. Once you are satisfied with the result of the MVP, you need to work more attentively upon the further parts that include;
- MMR – Minimum Marketplace Release
- MMF – Minimal Marketable Feature
- MMP – Minimal Marketplace product
So, hire a Full Stack Developer from established MVP Development Company and get purpose served. The article aims to provide the information that required to build MVP app. Hope it helps you in your efforts. Don’t shy ask if you come across any fruitful suggestion for us. We appreciate your time.