February 24, 2024
Business

Why does your business need mvp development services

Why does your business need mvp development services

When a bright idea starts chasing you, you’re at risk to begin a profitable business and make a difference in the market. The only obstacle that seems insurmountable is the lack of investment and a fear that some else can overtake you in completing the project. 

But there’s an approach that can make you rejoice since to communicate your idea to the audience you don’t always need a complicated solution that is time consuming and hurts the budget. The decision to resort to mvp development services fosters turning a cute concept of the product into a really working startup. 

Why MVP is worth considering

As a rule, at the very beginning you can’t be absolutely sure whether all the features you’re planning to implement are necessary for users, and you can’t predict whether the whole idea of the project will be accepted by the public without alterations. Bearing these factors in mind, MVP development first can be preferable to a fully embodied solution. Targeting at reasonable spending investment and quick driving the project idea home, MVP development feels like a wise approach to launch a startup. 

When you cook a vegetable salad, you need only a few ingredients to get the dish cooked. Yes, different species and sauces contribute to make it tastier. But if you want a simple and rich in vitamins dish, you can reach goals with the minimal set of products. In these terms, MVP is a simple salad from features which facilitate the satisfaction of users’ needs. 

MVP development: success stories

Puzzled with the task, how to sieve the features your product needs first? These descriptions of various approaches to mvp development facilitate to clear up your understanding of the process and principles you can be guided by. 

One-featured MVP

These entrepreneurs noticed that there’s a problem with getting paid for creative content. The musicians couldn’t charge for their compositions since there were only a few percent of users ready to buy their favorite tracks. So, they decided to try another approach. What if people get access to music for free, but the service will earn on advertisement? So, the monetization strategy was determined. The second step was mvp development.The guys faced the task to decide which features matters for the service viability most of all. They wanted not to spray money and effort and focused on delivering a web app with one essential feature – music streaming. As the further events showed, this approach was foresight as it gave them an opportunity to check the audience’s needs in practice and practicability of the whole project idea. So, a well known Spotify was born. Only when they earned first money with MVP, Ek and Lorentzon invested in scaling. Spotify invested in a mobile version. 

As for nowadays, as the world is used to mobility and flexibility, we’d recommend you to start with a mobile app. But of course, there are some nuances linked to the specialty of your project. So, discuss all the pros and cons with the team you can trust. It will empower you to get the right decision for the type of mvp development and spend investment directly for purposes you conceived. 

Wizard of Oz MVP

Yes, it’s cute when all the functions run automatically in the product and all the processes are tuned to be effortless and smooth. But when you’re at the very beginning of your business, you can afford to spend tons of money on a product that can fail for unaccounted reasons. In this case practice testing is necessary to gain certainty and assurance that you’re moving in the right direction. For example, when Nick Swinmurn started his business, he didn’t disdain doing a major part of work himself. In this case mvp development resulted in a website where the entrepreneur set photos of shoes he could buy in the nearest shops. Since he had got money for the first orders and seen people are ready to buy this type of goods online, he started to develop the project known as Zappos further.

Testing a project idea with MVP development

There’s no restrictions on the quantity of basic versions of a digital product. You can test different MVP for different target audience or various monetization strategies or various types of business logic. 

The simplest example of MVP is a landing page. As you probably have seen, the companies create diverse simple websites in order to test demand for different groups of goods or services or to understand what actually impacts the conversion: style, color, architecture etc. 

As for your mvp development, you can try the same approach to optimize business strategy and get real feedback from customers. When you have a proven revenue, the possibility to get support from investors is also growing. 

How much will mvp development cost?

To answer this question directly and short is impossible because the cost depends on a variety of factors like complexity of the product and related to this indicator time required for completing the task. There’s a great difference between creating a landing page and a social media app. If the first can be performed in several weeks, the second will take up to nine months of a fully staffed team (six experts). 300 or 600 or 900 hours – that is what determines the cost of work. 

The more features you want to add at the start, the more complicated a technical task and time consuming are. So, selecting the features for mvp development, be exigent to those you really need and avoid excessive ones. 

When you carefully picked the features that match your project idea, you can ask for quote in different mvp development agencies in order to compare the price. 

As for offshore outsourcing, the companies which are located in Eastern Europe charge 30-50% less providing the equal quality the US agencies offer. 

For example, the Purrweb team charges $50-90 per hour of expert’s work and carefully contributes to mvp development specializing in user-centered approach. That means all the team’s work is founded on creating a perfect user experience that motivates and inspires users to recommend the service. 

Jump into the market research and define how you can improve people’s life with new services. For example, the Etsy founder heard how uncomfortable eBay was and decided to offer a specified marketplace for them. How this story continued, of course, you know. What if you can start something similar in other domains?

Avatar for Radhe Gupta

Radhe Gupta

Hello, I am Radhe. I am absolutely in love with writing and by working with News Whizz, I have developed a passion for it. It helps me to stay updated and know what is happening around the globe.

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