The 5 Stages of MVP Development in 2022- Thecodework

MVP is still a foreign concept to so many entrepreneurs out there. Hopefully, this article will reach you people and help to build and grow your dream business. MVP or minimum viable product is the approach that allows you to test your business idea in the market.

MVP or minimum viable product is the approach that allows you to test your business idea in the market. That too without draining your resources. Sounds interesting, right?

The MVP is a test version of the final product which is improved or iterated as per client feedback. This in turn helps you be confident about the market and the customers that you are targeting, even before the final launch.

We are here to talk about the 5 stages of MVP development. Have a look!

5 stages of MVP development in 2022

Hopefully, you have got an overview of what a minimum viable product is. So let’s dive into the gritty details of the Minimum Viable Product Program. Here we go!

Stage 1: Market Research

You obviously want an outlook of the market in which you are targeting to launch your product. What better way to research than to ask questions, right? Consider the following questions while researching the market:

● What do the customers need?

● Is your product going to solve their problem?

● Is your target audience ready to pay for your product?

● Why should the audience choose your product and not the other available options?

Hosting this research will help you know your target audience in a better way. So start doing this already!

Stage 2: Understand and evaluate your core features

Now comes the task of designing the core features of your MVP. The design needs to be user-friendly and most importantly, easily navigable. The UX should not suffer in order to make pretty designs. I hope you are getting my point here.

Build a hypothesis and give suitable priority to the features that seem capable of solving the customer’s needs.

Stage 3: Select the type of MVP that you want to work with

There are several types of MVPs to choose from when you are building your product. For instance,

- Pre-order MVP

This is more like a tricky game where the core features of the planned product are advertised first. All this, even before you start building the product. How cool is that? The best part of this approach is that the product manager taps well into the demands of the market. This, in turn, helps in the iteration process.

- Concierge MVP

This type of MVP mainly focuses on early adopters. By keeping tap on a few of the whole lot, you get to know their demands and needs in a better way. Once you start iterating, you can keep increasing your customer base.

- Wizard of Oz

In this approach, the startups pretend to build a tech solution but actually, the solution is provided by humans only. Why is this relevant? Well, it helps to know the audience better in a gritty way.

- MLP

MLP stands for Minimum Lovable Product. It is a type of MVP which is solely focused on user experience, design, and the satisfaction of the target audience.

Stage 4: Launching MVP

There’s not much to do at this stage. All the work is done already. All you need to do is launch the product with proper testing and revisions. Pretty self-explanatory, right?

Stage 5: Analyse & learn

The learn-build-measure loop is what you need to seek at this point.

The basic motive of the MVP approach is to know your audience better and put that to use, right? So once you launch your MVP in the market, collect proper feedback (learn). Also, do not forget to check the analytics and metrics (Analyse).

This is what you need to make the revisions and iterations for your final product. So get going!

Overview

Wrapping it up, these 5 stages are all that you need to build a good MVP for your product. MVP is still a foreign concept to so many entrepreneurs out there. Hopefully, this article will reach you people and help to build and grow your dream business.

Also if you are an entrepreneur who wants to try this MVP approach, then reach out to us at ThecodeWork. We are here for you!

Comments

Ezinnovation22 October 2021 at 04:03
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