How To Build a Minimum Viable Product for Your Startup [Handbook for CEO]

2354 Updated 10.07.2021
Virliana Tymkiv

Design Team Lead at Northell

5/5

Table of contents

How to create a Minimum Viable Product? And why does a startup need to do this at all? In simple words, an MVP is a service/product that has sufficient qualities to attract the first users.

That is very important in a startup environment – to get feedback and understand which direction to move in (and whether it is worth moving at all, or is it better to bury the idea). 

Gathering information through MVP costs a lot cheaper than developing a full-fledged product with a large set of functions. MVP allows to reduce costs and risks and, with a competent approach, eventually come up with a business idea that works.

What is a good Minimum Viable Product for a startup?

Many startup owners are increasingly thinking about how to build an MVP and do it at the highest level. For you to figure out how to do this, we have prepared this article. We will talk about how to build a Minimum Viable Product, how much it costs, how to choose the best contractor, and many other things.

Examples of MVPs for startups that work

Almost all successful startups in the West start their path to success with a Minimum Viable Product. That is the least risky and costly approach, as the residents of Silicon Valley are well aware of. Another option is to “split off” the project from a larger company or develop a big product after attracting solid investments (often from co-founders).

Still, most of the well-known startups in the US and Europe started with a simple MVP version, which allowed them to test the market, build a customer base, get comfortable, prove their idea to investors, and then start adding new features to the product and continue to build on their success.  

Here are some typical examples:

Yahoo! 

The minimal product here was a simple page with a list of links to popular sites. That was enough functionality to satisfy users in the early days of the Internet. And when the site gained traffic and popularity, its adaptation and development began. Today it is the second most successful search engine in the world, with revenue of $ 5 + billion per year.

Snapchat 

The service started as a simple application: a fast little utility that allows you to exchange messages that would be deleted 10 seconds after reading. When the first version was released on iOS in 2011, it had the only “advanced” feature as image loading. Now the product has 230 million users every day, and the company is estimated at $35 billion.

Dropbox 

A product viability check is not necessarily an off-the-shelf service. In the case of Dropbox, it all started with a demo video where they presented their idea in 3 minutes. At the same time, the product, in fact, did not exist yet.

The video received likes, millions of views, thousands of comments and helped attract investors. And indeed: why not immediately ask the audience about their desires, instead of spending a lot of money?

The main rules in MVP Development Process

  • An MVP is not a truly viable product until it “sells” (= makes a profit or shows growth in its user base, increasing its value). It must have enough value for early users. 
  • It must show enough prospects to retain its first customers months and years later.
  • It should provide feedback to help define a strategy for future development. You need to see if the product is falling short and be able to change course. Or to be able to assess which points need improvement first. 
  • MVP is more about the process than the product. Even a service that does not show results can be made successful if the received data is used correctly. See the story of Instagram, which started as a check-in app with a couple of hundred people (mostly friends), until its creator, Kevin Systrom, noticed that users were “hit” by photo filters and decided to focus on that direction.
  • The MVP concept is based on the Lean Startup philosophy and implies an iterative build → measurement → learning process. The cycle repeats until the product fully meets the needs of the market. 
  • MVP strives to avoid creating unnecessary, useless products, first of all, getting an idea of ​​the needs and the degree of interest of users.
  • MVP is not necessarily a product with the minimum possible number of elements. The main thing is that it should have key functions sufficient to implement the idea and retain early adopters. 

What are the Main MVP Challenges?

Based on our wide experience in MVP product development, we have highlighted the main challenges associated with this process.

Identifying the need for a product

Determining whether people need your product is difficult. It is also essential to do some research to understand what users are missing right now, what problem they want to solve and how they want to solve it, etc.

Establishing prospects and expectations from the product

MVP is a risk and it is very difficult to predict how successful it will be. Don’t set your expectations too high, and don’t think that the product will immediately bring great results after launch. It is essential to understand that MVP is just a test of an idea. It is a test of how much the market needs your idea.

Testing an idea

Will the product be in demand on the market? Will the idea work? Will people understand the idea? Will the product be used? Will the product solve user problems? These and many other questions are asked by everyone who is going to develop an MVP.

Evaluation of the current team

The key to MVP success depends a lot on the team working on it. Before starting to work on a product, you should assess how each team member is ready to fulfill their responsibilities, whether they have sufficient expertise and knowledge to complete the assigned tasks thoroughly, etc. 

It is also necessary to evaluate the team while they are working on the project to ensure that all team members can complete their tasks on time and, most importantly, with high quality. There is only one conclusion it is necessary to set up the management in the team well. 

Northell Experience in building MVP for startups

The Northell team has deep knowledge of MVP development. We very thoroughly study the idea with which the client comes to us, help to improve it and direct it in the right direction. We have extensive experience in research that helps to find and add uniqueness to a project and help it become competitive.

One of the MVP projects we worked on, Oprovi, came to us only with an idea.

Oprovi is a platform where people who have experience and are experts in a particular field can provide quick advice and consultation. The initial version of the platform has already been developed.

First of all, together with the client, we built the entire structure of the platform. Then we started creating wireframes to understand what functionality there should be, how exactly it should work, what we need in the MVP version and what we need to remove from there.

We built the whole system for two parties – for the client and the adviser. We worked on a marketing website and then created a design. Now the project is still in the process. Our next steps are to create a responsive design and translate the platform to Hebrew. 

In general, the client was delighted with our work done, and most importantly, we could fully translate his ideas into reality. 

Another project we worked on was Learning App, an easy-to-use platform on which you can quickly and easily study English through YouTube videos.

 

For this MVP project we have created UI/UX design that captures users attention from the very first seconds of interaction with the product. 

We had close and regular communication with the client. Thanks to weekly meetings, we understood what the client wants to see in the product, what functionality should be in it, what kind of design the client wants to implement, etc. 

 As a result, we managed to meet the client’s needs and create an MVP that can easily grow into a full-fledged large product. 

One more MVP project Northell team worked on was Wealth Club, an investment platform oriented on ladies.

WealthClub allows users to automatically become an investor in private companies with a monthly savings plan. The client came to us with only an idea, ready content for the future landing page and platform.

We have conducted research on similar platforms and thought over the logic and placement of the content for the user flow. One of our main goals was to make the dashboard and charts maximum user-friendly and easy for understanding that we successfully implemented in life. 

Top Mistakes We help to Avoid for Our Partners

When you come up with an idea to create a startup, you need to consider all the risks you face and evaluate them thoughtfully. Also, as a rule, startups are financially limited, so it is necessary to define the business strategy further even more carefully and take all the necessary steps to avoid failure.

That is why, in many cases, a business owner starts a project with an MVP, which is directly related to the success of the future application. 

But not every startup is successful, in most cases due to fairly common mistakes, which we will look at next. Thanks to our experience, we were able to help our clients avoid these mistakes.

Mistake #1 Focus on unnecessary functionality

Perhaps you are inspired by a specific idea, and you firmly believe that the features you intend to implement will be received with honor by your users.

But in some cases, the final product can be completely different from what was initially planned if you track customer behavior and adapt functionality to suit their needs. Focusing on the features that are truly in demand from users helps to achieve success.

Mistake #2 Insufficient attention to users

One of the most important goals of the MVP product development process is to understand your target audience better. If you don’t pay a lot of attention to feedback analysis, you won’t be able to figure out the needs of your potential users.

You can be sure that this or that functionality is important and deserves a lot of love from the customers, but if the feedback from your users is negative, you better take that into account.

Mistake #3 Obsession with your idea

You can convince yourself and others that your MVP is exactly what your audience needs. But users may have opposed opinions, and there is little that can be done. After all, who are you building the app for?

Of course, not only for yourself, so customers’ opinions will have to be reckoned with. This way, you don’t have to be afraid to listen to ideas coming from users and make changes accordingly.

Mistake #4 Perfectionism

MVP product development is just the beginning of a long journey in which mistakes and negative reviews are inevitable. It’s best not to set yourself the goal of creating a perfect product that doesn’t deserve single bad feedback because the more effort you put into development, the closer you get to the pitfalls.

Therefore, it is better to maintain balance and perceive reality correctly.

How To Create a Minimum Viable Product? Part 1 – Market Research

How to build a Minimum Viable Product and do it in the best way? Based on our experience, we have created a step-by-step guide that will help you answer all your questions and build MVP successfully. 

How to Create a Minimum Viable Product: What is the core of your business idea?

Begin your research by identifying what is at the heart of your business and your value proposition. What is the main value your business brings to customers and users? What problem will your product solve? What is the main goal of your product? 

By answering these questions, you can organize all the processes and steps to build an MVP.

How to Create a Minimum Viable Product: Set the main goals of this MVP

Next, you should define your primary goals. What are you building the MVP app for? What do you want to achieve after the release of the product? Examples can be a certain number of customers, positive feedback and enthusiastic user reactions, high conversions, earnings, etc.

The better you formulate your goals, the higher the chance that you will be able to achieve them.

How to Create a Minimum Viable Product: Set a budget and timeline for the MVP

The next step is to define the budget and timeline. This step will help you organize all your MVP product development processes more clearly. It is not worth saving too much and setting a minimal budget.

You will have to invest in development, professional UI/UX design services because potential users will lose interest if the quality of the proposed product is poor.  

Don’t set too long a timeline for MVP product development since you have to remember that this is not the final product; you are only testing the idea for now.

How to Create a Minimum Viable Product: What do your competitors offer?

An essential step in building MVP for startups is identifying and analyzing competitors. This step will help you understand what is in demand in the market now, what exactly your competitors offer, what they have cool and what they lack, etc.

Identifying and analyzing competitors will help you understand what kind of uniqueness you can add to your project so that your product differs from all existing ones on the market.

How to Create a Minimum Viable Product: What are the market trends?

Market trends research is equally important. Your MVP should be modern and include what users are currently looking for in products. It is also essential to study what trends are currently in UI/UX design.

UX consultants can help you with these. Involving additional specialists in your workflows will positively impact the development of your MVP. You will be able to gain additional knowledge and expertise in a field in which you may have little or no experience.

How to Create a Minimum Viable Product: What do your customers want? Check them for technique 20:20

To determine what exactly to add to your MVP product, we recommend using the 20:20 technique. What does it mean? You have to make a list of 20 wishes and 20 pains for your client. This method will help you understand what exactly you should include in your MVP.

How to Create a Minimum Viable Product: What specialists do you need in the team?

For developing an MVP that will attract lots of clients, you should have a strong team with deep knowledge and experience. Typically, the MVP development team includes BA (Business Analyst), UX/UI designers, developers, and QA engineers.

If your budget allows you, you can also involve a web design consultant and startup advisor in your working processes. More about these experts, their roles, responsibilities and costs you can find out in our articles:

Startup Advisor in 2021: Roles, Responsibilities and Cost

Do You Need a Web Design Consultant? [Update 2021]

How to Create a Minimum Viable Product: Set design and development requirements

The final step in this piece is to set design and development requirements. This step will help you be more organized, avoid getting confused, go astray during MVP development, save time and budget, etc. 

Remember, the more clearly you describe your requirements, the better the design and development team will understand what you need. Describe everything you want to see in your MVP (for example, what functionality and design should be, how many modules should be in the MVP, what features you want to add, etc.)

It is also essential to write what you do not want to see in the MVP (for example, what color or fonts not to use in the design, what features not to add, what structure not to do, etc).

How to Create a Minimum Viable Product? Part 2 – MVP Building For Startups

Building an MVP for startups is not as simple a process as it seems at first glance. It requires broad expertise and certain knowledge and skills. Let us share our experience in custom CRM solutions building.

How to Create a Minimum Viable Product: Prepare all the documents for your MVP

To start a full-fledged development process, you must first prepare all the necessary documents. We have already covered the process of writing design and development requirements. You also need to think about legal documentation. 

You will need the documentation at the stage of concluding a contract with contractors. To protect yourself from failure due to the unreliability of the contractor, you should maintain complete and detailed project documentation.

How to Create a Minimum Viable Product: Hire design and development contractors

How to create a Minimum Viable Product without a team? Our answer is – no way! You need a reliable, good contractor and a strong, talented team to get a good product. Today, there are a huge number of MVP design and development companies, but finding one that can do the work efficiently, on time and not for fabulous money is quite hard.

There are several places where you can find a good contractor. Use social media like LinkedIn. You will have the opportunity to evaluate the work experience, look at the team’s projects, read customer reviews, etc.

You can also visit rating websites such as us Clutch.co. Clients leave detailed feedback on the companies they have worked with. Also, you can view the projects that the team has worked on, analyze them and decide how much it suits your company.

We also recommend asking around your colleagues or partners. They may have had experience with a good design and development contractor and can advise a team. They can also directly connect you with the contractor, and you will have the opportunity to discuss all the details immediately.

Have an idea of the next great project?

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How to Create a Minimum Viable Product: Start Product Discovery

Here’s how most companies begin: the owner has an idea. The development team has been assembled to put it into action, and the founder is pleased with the outcome. However, when they try to market the solution, no one is interested.

That is a significant problem that entrepreneurs should address. In reality, 42 % of startups simply fail because they do not satisfy market demand. That is why it is critical to do research before the development process.

During the discovery stage, you should evaluate your idea and its implementation. Usually, a BA specialist, UI/UX experts and developers collaborate to deliver:

  • market analysis;
  • functional analysis;
  • business objectives outlining;
  • user needs and requirements analysis;
  • tech stack recommendations;
  • business model validation;
  • go-to-market strategy, etc.  

Product Discovery allows you to reflect the developer’s vision qualitatively, details the needs of the target audience, and also gives answers to key questions about the product: 

  • whether it is worth solving the problem; 
  • whether the proposed solution will work; 
  • whether customers will use it and pay for it.

Choose the main functions of your MVP and target audience

The next step is to select the main functionality and features for your MVP product. You should also define who your target audience is. If you know exactly who you are building a Minimum Viable Product for, you can determine which features you need and which will be redundant.

You should have a good understanding of the psyche of your audience. If you target young people, keep in mind how filled their life is with content – don’t overload the interface; make it catchy. If your target audience is high-status businessmen, remember how much they value time and make it as easy as possible to interact with the application or website.

For example, working on the Wealth Club project, the target audience of the platform was ladies. So we needed to make everything clear, simple, without unnecessary functionality, and, of course, aesthetically beautiful. 

After a lot of research, you already know what users want from your product, what they like in your competitors, and what not to do. Determine what the result will look like, what opportunities the product will give users, and its technical features. At this stage, you need to describe all future functionality to represent the final product.

For example, working on the Oprovi project, we had some meetings with a client to figure out what features they want to see in their product. We researched what functionality Oprovi’s competitors already have, what the target audience is looking for and what they lack, what already exists on the market and what hasn’t been developed yet, etc.

Thus, together with the client, we decided on a list of the main features for the MVP and began the design process. We have been developing a system for two types of users – for the client and the adviser.

How to Create a Minimum Viable Product: UX design. Create users’ flow

The next step of MVP creation is UX design. Each UX design we start with users’ flow creation. 

Users’ flow creation

User flow is a visual representation of a sequence of actions that a user takes to achieve his goal. It can cover a specific function or the entire product. 

To create a sequence, you need to do research and answer three basic questions: 

  • Who is a user? 
  • What is his goal? 
  • What steps should he take to achieve this goal? 

These are the main questions that can sometimes be difficult to answer clearly, so additional questions may help: 

  • What will the user use the application for? 
  • What motivates the user to achieve this goal? 
  • How will the application help to achieve the goal?
  • What can keep a user from using the application? 
  • What qualities of a product or service are most important to the customer and users? 
  • What are the questions, doubts and hesitation? 
  • What qualities of the application are most important for the user? 
  • What information do users need to take action? 
  • What emotional trigger prompts them to take action?

During the design process, there should always be a lot of questions. The search for answers to them makes it possible to consider every little thing from all sides. Only then can a truly convenient product be the result.

Prototyping

It is the hardest part of the MVP. At this stage, all tasks are closed here and now, one after another. What exactly is created at this stage:  

  • User journey – planning the screens that the user will need to achieve his goal. 
  • Information architecture – building a flowchart or mindmap (site or application map). 
  • Low-fidelity wireframes and prototypes – very rough sketches of the interface itself and prototype. 
  • High-fidelity wireframes and prototypes – more detailed (with mesh and typography), but still black and white sketches of the interface functionality and prototypes.

When the Oprovi client came to us, we immediately built the entire structure of the platform to understand how the client and the adviser will interact with each other. 

How to Create a Minimum Viable Product: Testing

After the UX design is ready, you should test it. UX testing shows how straightforward your interface is to your clients and users, whether they use it the way you intended or in a completely different way. This means that it shows how to change the user flow to make it convenient for users.

Stages of UX testing:  

  • setting tasks and choosing methods; 
  • generating hypotheses; 
  • defining the type of testing; 
  • conducting testing.

At Northell, we have launched our own UX Laboratory. Our team uses UX Eye Tracker that allows exploring user behavior during interaction with the product. Only 1% of companies use this method. An eye tracker is a unique tool that captures the movement of a person’s gaze and helps get a record of where and for how long the user was looking.

User testing with an eye-tracking tool allows us to watch the live eye tracking stream provided during usability testing. It also provides us with a deeper understanding of behavioral patterns and allows our team to ask more relevant and personalized questions for fuller insights into the user’s interaction.

How to Create a Minimum Viable Product: UI design

While working on UI design, designers include colors, animations, logos – in short, everything that helps stand out from the competition, what users pay attention to first of all. 

 Remember: no matter how brilliant your idea – no one is interested in it without a beautiful wrapper and well-developed UX logic.

For example, while working on the Wealth Club project, our main goal was to make the dashboard and charts user-friendly and easy to understand. The main colors we used for the platform were dark blue, light blue, and pink.

Since the application’s target audience is ladies in business, we selected delicate colors and made all the elements look harmonious. We also used an interesting animation for the Landing page, which made the page more interactive. 

How to Create a Minimum Viable Product: Frontend development

Whether you’re creating a mobile app, a website, or a console game, the frontend is the major entrance to your product. As you establish the appearance and feel you want to create for your clients, a consistent UI style enriches the character of a product.

Do you want your product to appear more straightforward or more expressive? It takes a significant amount of time and effort to evaluate the choices and select the best one.

All user interactions take place on the frontend. Your product’s UX is the hook that keeps your users hooked on your software.

It is more than just visual design: it is the important question of how your product tells a narrative and how users engage with it. Your product will need the appropriate layout, copywriting, navigation, and usability to put together and convey your story.

Much here, of course, is dependent on the development team’s degree of expertise and abilities. The better the frontend of MVP is done, the more likely people will return to you. Even the most experienced developers might struggle to select the best framework for a project. If you run across this issue, we recommend that you read our article React Vs Vue Vs Angular: What to Choose for Web Development.

How to Create a Minimum Viable Product: Backend development

The creation of the system’s backend is the next crucial stage. The backend is a collection of tools used to implement the product’s logic. That is what is concealed from our view.

At this point, it is critical that your team is well-versed in programming languages and uses them appropriately. Do you not have any idea what language to use for your project? Check our article Node.Js Vs Python: What Does Your Project Need?

How to Create a Minimum Viable Product: Quality control

When everything is ready, you need to check the quality of the finished product. Check if all the features work as they should, if all interface elements are displayed, if everything is in place, if there are any problems related to the speed of pages loading, etc.

It is essential to devote a lot of time to this stage. The sooner you notice any problems, the sooner you can fix them. When the product is already in use, it will be difficult to change something globally.

How to Create a Minimum Viable Product: Copyright

It’s also essential not to overlook content. Text blocks in an MVP must be written accurately and concisely. Copywriting is also essential if you require a website. Typically, a copywriter and a marketer collaborate to create the site’s content.

For the Oprovi project, we made a marketing website to increase brand awareness, tell as much as possible about the platform and lead people to choose Oprovi.

How to Create a Minimum Viable Product: Launching and collecting feedback

For the project team, work has just begun. From the moment of launch, it is necessary to collect, store and analyze feedback, from statistics to data on behavior and user reviews. 

The data gathered using the MVP will help you understand if your project has any prospects, help generate new ideas and build a product development strategy based not on assumptions but actual facts. Thus, MVP testing will fully pay off.  

Our experience allows us to evaluate the received data and analyze customer feedback. We understand that launching an MVP, testing a product, and processing feedback are complex and costly tasks that require a professional approach. 

If you are launching a new product and do not know where to start, contact us, and we will help you implement your project. 

How to Create a Minimum Viable Product: Make appropriate iterations

After you evaluate all the data obtained, you will understand which direction it is better to move. You will have enough information to start transforming your MVP into a complete product.

However, remember that to start developing a full-fledged product, you will need to go through the preparatory process, namely, hire good specialists, draw up a business plan, conduct research and analysis, etc.

How to create a Minimum Viable Product:  MVP product development cost?

When it comes to numbers, the cost of developing an MVP for a business varies depending on a range of criteria such as:

  • location;
  • expertise;
  • experience;
  • hourly rate. 

For many startups, outsourcing is a suitable option. It’s the same as employing a local agency, but at a quarter of the price. There are two major difficulties to consider when it comes to product creation: establishing trust and involving the team.

However, both difficulties are readily resolved. Before choosing a potential agency, be certain that you have thoroughly researched them. You may accomplish this by reading reviews, visiting company websites, and reviewing recent case studies. More about how to check MVP development contractors, we will tell a bit later. 

How much does it cost to develop an MVP using an outsourcing company? As an example, consider Ukrainian outsourcers. Their average hourly rate is $30. A four-person team will thus cost $120 per hour.

That implies you’ll have to pay up to $19,000 each month to create an MVP. Compared to other regions, this is a fairly reasonable price. Therefore, we recommend paying attention to outsourcing companies from Eastern Europe.

How to create a Minimum Viable Product: check your MVP Development contractors

Before hiring a contractor, you need to ensure that he can provide you with an experienced and skillful team, handle your project, complete all tasks on time, efficiently, and at a reasonable price.

Let’s consider what you should check before making the final decision in favor of any contractor.

Experience

Pay attention to how long the contractor has been in the industry. If this is just a start-up company, be careful. Young companies can provide excellent services, but one should be checked more thoroughly (for example, look at portfolios, rate reviews, etc.)

Portfolio

Portfolios of projects are commonplace nowadays. They emphasize a company’s innovation, growth, and problem-solving abilities.You want to see similar projects to yours if you’re looking for an MVP development agency. If no matching projects are available, consider the quality of work done in projects rather than the amount. 

Some businesses additionally emphasize the difficulties they had while creating those MVPs, as well as what they did to overcome those difficulties. All of this information may be found in the case studies of their previous projects.

Reviews

You should also look for reviews of the company from previous clients. In the reviews, you can find the information you need about the company’s work, the results of projects, the strengths and weaknesses of the company, etc. 

If the company turned out to be unreliable and let one of its customers down, you would definitely find out about this in the reviews. Most often, reviews are written by dissatisfied people, so be sure to pay attention to this to dispose of companies with a bad reputation.

Team composition

The setting of team member characteristics, or team composition, is a critical enabling condition for effective cooperation.

A well-balanced team has the necessary complement of knowledge and abilities while also taking into account how team members’ unique characteristics, such as personality traits, beliefs, and demographics, interact to define teamwork and, ultimately, team performance.

It is vital that the team you select for your project is experienced, has the necessary skills and knowledge, can translate your desires into reality, etc.

Approach to work

Also, find out how seriously the team takes their job, whether the management is well established, whether the team copes with the tasks on time, whether the team uses any methods for work processes, etc.

The key to success is, of course, a well-chosen team. And for this, it is essential to analyze how well the people in the team communicate with each other, how well they convey their thoughts, etc.

Price

Finally, you should make sure that the agency provides you with a flexible price. Before settling on one, contact many MVP development companies and compare their portfolios and ratings. If project-based pricing is too expensive for you, consider specialized teams with hourly pricing and greater flexibility.

How to create a Minimum Viable Product: what is a successful MVP for us?

Based on our experience, we identified several criteria by which we evaluate that the MVP is successful. Here are they:  

Real customers

An MVP is successful when it has customers. You should evaluate how many users are paying you? Who are they? How exactly are they using your application? How long does it take between the first run and first purchase? 

For example, Tinder has 50 million users worldwide, but only about a million pay for premium features.

Subscriptions

If your MVP is a subscription service or product, its success will be measured in the number of real subscriptions. Of course, the more there are, the higher the likelihood that you did everything right and that users need your product. 

In this case, it is also worth analyzing customer churn. If users unsubscribe from your product after a short period of time, you should find the reason and fix the problem that users encountered.

Positive feedback

Of course, you would like to receive positive feedback from users, but not even the most positive reviews are a source of useful feedback. The number of ratings is also essential. It means that users download the application and use your solution.

Number of downloads

The number of downloads can also indicate the success of your project. The more downloads, the better. However, don’t forget to track user churn too.

Recommendations

If your MVP product starts to be recommended, it means you are on the right track, and users like what you have created. That is an indicator that you should not stop there and develop the product further.

How to create a Minimum Viable Product: What to do after a successful MVP?

Very often, a situation arises when a team manages to overcome the pre-seed stage, reach MVP, validate the first hypotheses, successfully exist within the framework of pre-acceleration and even acceleration.

But then, when the team finds itself in a free float, everything falls apart without the support of mentors, trackers, and experts.

And it seems that there is a product, but then you need to engage in operational activities, develop a development strategy, systematize and build sales – for many, life after MVP is a nightmare.  

First of all, to assess growth prospects in a general startup, you need to constantly analyze the market: what potential segments and value propositions, and fields to face. For a startup founder, this is an opportunity to effectively address the issue of market positioning and increase the average check.

The big startup owners’ problem is that they sell without value. If a product has no value, we are in a continuous “force-to-buy” format – through trial versions, discounts, mailings, and so on. This way, we don’t grow our audience, we don’t make our clients happy, our community doesn’t grow – and as a result, the client base doesn’t grow.  

 If there is value, then the client returns. If there isn’t, then we get a one-time use of our product without the expected development of a habit. When we come up with value, sales begin to be made quite simply, almost by themselves. There is a natural growth of the audience through referral programs and recommendations.

How to create a Minimum Viable Product: Summary

The MVP is excellent mistake prevention in any area. It will help you engage people, understand the strengths and weaknesses of the product, and increase the likelihood of future success.

We at Northell can develop a product for you because we have repeatedly helped companies to get closer to their audience and avoid mistakes with its help. Contact us, and we will be happy to make a successful and high-quality technical solution out of your idea.

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