Successful MVP Development for Startups and Entrepreneurs

Minimum viable product (MVP) development is currently a service highly sought after by startups, entrepreneurs, and larger companies that want to launch a successful product.

An MVP is a very basic operable version of your product with just enough features to solve a customer problem and validate your business idea.

In today’s competitive market, it’s more important than ever to get your business idea or product to market quickly and efficiently in order to test its reception. The MVP approach allows you to do just that. By focusing on the core value proposition of your product and getting feedback from real users early and often, you can reduce your risk and increase your chances of success.

Contents

A. Benefits of MVP Development

B. What is the MVP Life Cycle?

C. Steps to Develop an MVP

Some core tasks in MVP Development Stages

D. How to Create an MVP Roadmap

E. Defining Your MVP

F. How Long Does an MVP Take to Build?

G. Identifying the 3 Key Areas that Form a Good MVP

H. What is MVP prototyping?

I. The Technical Aspects in MVP Software Development

1. Backend development
2. Frontend development
3. Mobile development
4. DevOps
5. Security
6. Performance optimization
7. Scalability

J. Is it best to use Agile or Scrum Methodologies for MVP Development?

K. How to Build a Successful MVP

L. Metrics Used to Measure if Your MVP is Successful

M. Common Mistakes to Avoid When Developing an MVP

N. What if Your MVP Fails?

O. Case Studies: How Airbnb, Dropbox and Stripe used MVPs for Success

• Airbnb
• Dropbox
• Stripe

P. What Comes After Developing an MVP?

Q. Who We Are

R.  Reasons Why You Should Hire Era Biz to Build Your MVP

S. Our Easy 4-Step MVP Development Process

T. Conclusion

A.  Benefits of MVP Development

There are many benefits to developing an MVP, including:

• Test Hypotheses: The primary goal of an MVP, unlike in standard software development, is not to create and launch a product, end of story. Instead it is to understand what works in your hypotheses behind the product idea, and start on the path of learning and understanding your product better. Think of it as an architect building a small scale-size model of a complex building he plans to develop to identify what works and any flaws in the concept. Only in the case of an MVP you can use it as a base to develop it into a fully detailed product by adding features.
• Product Market Fit: The MVP stage allows you to understand the target audience and market demand for your product and adjust your product specifications accordingly. This ensures that your product can last in competitive market conditions.
• Reduced risk: MVP development allows you to test your product idea with real users before investing too much time and money into development. This helps to reduce your risk and avoid building a product that no one wants.
• Attract Investments: Investors are more liable to fund an idea if they can see the value of the product in the physical format or, even better, some positive results from a sample space. MVPs are often used as a proof of concept for investors. They give businesses the opportunity to display their products better to attract investments, and often provide measurable results in real-world tests.

• Faster time to market: By focusing on the core value proposition of your product and building an MVP, you can get your product to market faster than if you tried to build a fully featured product from the start. This is important in today’s competitive market, where users are constantly looking for new and innovative products.
• Valuable User feedback: MVP development allows you to get feedback from real users early and often. This user feedback is invaluable for improving your product and ensuring that it meets the needs of your potential customers.
• Increased chances of success: Studies have shown that startups that develop and launch an MVP are more likely to be successful than those that don’t. This is because MVP development allows you to validate your business idea, learn from your mistakes, and iterate on your product with reduced time and money, before launching it to a wider audience.

Looking for experienced MVP Developers? Era Biz Solutions has handled many successful MVP projects over the past 12 years! Contact Us to make full use of our expertise!

B.  What is the MVP Life Cycle?

The MVP life cycle is the process of developing, launching, and iterating on your MVP. It consists of the following stages:

1. Ideation: This is where you come up with your product idea and define your MVP.
2. Product Development: This is where you build your MVP.
3. Launch: This is where you launch your MVP and get it in front of users.
4. Feedback: This is where you gather feedback from users and analyze the data.
5. Iteration: This is where you make changes to your MVP based on the feedback and data you gathered.

C. Steps to Develop an MVP

At Era Biz, with over 11 years of experience, we have identified that developing an MVP (minimum viable product) needs 4 core steps:

STEP 1: Define your MVP and Prioritize Features.

What is the core problem that your MVP solves? What are the essential features that your MVP needs to have?

STEP 2: Design and prototype.

Create a design and prototype of your MVP. This will help you to visualize your product and get feedback from potential users.

STEP 3: Develop your MVP.

Build the core functionality of your MVP. Focus on the most important features first.

STEP 4: Test and Launch.

Once your MVP is developed; test it with real users, gather feedback and make necessary improvements / clear bugs. Once you are satisfied with your MVP, launch it to the public and start getting feedback from users.

Some core tasks in MVP Development Stages

• Market research: Understanding your target market and their needs is essential for building a successful MVP.
• Product design: Designing a user-friendly and visually appealing MVP is important for attracting and retaining users. Ensure you hire a good UI/UX designer for this.
• Software development: Building the core functionality of your MVP requires technical skills and expertise in programming languages, frameworks, and tools.  
• Quality assurance: Testing your MVP thoroughly to ensure that it is bug-free and meets user expectations is important.
• User feedback: Gathering feedback from users early and often is essential for iterating on your MVP and improving it over time.

Building an MVP for lean startups is a collaborative effort. It is important to have a team of people with different skills and expertise working together to build and launch your MVP. This means that you may have to hire product designers, software developers, quality assurance engineers, and marketing professionals from a reliable and experienced MVP Development company such as Era Biz Solutions.

D. How to Create an MVP Roadmap

An MVP roadmap is a plan that outlines the steps you need to take to build and launch your MVP. It should include the following:

• A clear definition of your MVP: What is your MVP? What are the core features?
• A timeline for development: How long will it take to build your MVP?
• A budget for development: How much will it cost to build your MVP?
• A plan for testing and feedback: How will you test your MVP with users and get feedback?
• A plan for launch: How will you launch your MVP and get it in front of users?

E. Defining Your MVP

Here are some questions you should ask yourself about your MVP:

• What is the core value proposition of my MVP?
• Who is my target customer for my MVP?
• What are the most important features for my target customers?
• How will I measure the success of my MVP?
• How much will it cost to develop and launch my MVP

F. How Long Does an MVP Take to Build?

The amount of time it takes to build an MVP will vary depending on the complexity of your product. However, as a general rule of thumb, at Era Biz Solutions, we aim to build an MVP within 3-6 months.

G. Identifying the 3 Key Areas that Form a Good MVP

The three key parts to a good MVP are:

• A clear value proposition: Your MVP should solve a real problem for your customers. What makes your product unique and valuable? Why should your customers care?
• A focus on the core features: Don’t try to build too much into your MVP. Focus on identifying and developing the core features that are essential for your customers.
• A way to measure success: How will you measure the success of your MVP? Are you looking for a certain number of users, signups, or sales? Having a clear metric for success will help you to iterate on your MVP and improve it over time.

H. What is MVP prototyping?

MVP prototyping is the process of creating a working model of your MVP. This can be done using a variety of tools and technologies, such as wireframes, mockups, and prototypes. MVP prototyping is a great way to get feedback from users and test your product idea before you invest too much time and money into development.

I. The Technical Aspects in MVP Software Development

1.    Backend development

Backend development in product development involves building the server-side logic of your MVP. This includes the following tasks:

• Database management: Creating and managing the database(s) that will store your MVP’s data.
• User authentication: Implementing a system for users to authenticate and log in to your MVP.
• API development: Developing APIs to allow your MVP to interact with other systems and services.

Backend development is typically done using programming languages like Python, Java, and Ruby on Rails. These languages are well-suited for building server-side applications and provide a wide range of frameworks and libraries to make development easier and more efficient.

2.    Frontend development

Frontend development involves building the user interface and user experience (UI/UX) of your MVP. This usually includes the following tasks:

• HTML: Creating the structure of your MVP’s web pages using HTML.
• CSS: Styling your MVP’s web pages using CSS.
• JavaScript: Adding interactivity and dynamic behavior to your MVP’s web pages using JavaScript and connected frameworks such as React or Node.js.

Frontend development is typically done using a combination of HTML, CSS, and JavaScript. These languages are the foundation of the web and are supported by all major browsers.

3.    Mobile development

Mobile development involves building native or cross-platform / hybrid mobile apps for your MVP. Native mobile apps are developed specifically for a particular mobile platform, such as iOS or Android. Hybrid mobile apps are developed using a single codebase that can be deployed to multiple mobile platforms.

Mobile development is typically done using programming languages like Swift and Kotlin for native iOS and Android apps, respectively. For hybrid mobile apps, there are a number of different frameworks and platforms available, such as Flutter and React Native that act as a connecting layer to allow mobile apps built with other programming languages to conform to iOS and Android operating systems.

4.    DevOps

DevOps involves automating the build, deployment, and testing of your MVP. This helps to ensure that your MVP can be developed, deployed, and updated quickly and efficiently.

DevOps is typically implemented using tools and technologies such as Git, Jenkins, and Docker. These tools and technologies can be used to automate the entire software development lifecycle, from code development to deployment to production.

5.    Security

Security involves implementing robust security measures to protect your MVP from cyber threats. This includes tasks such as:

• Data encryption: Encrypting sensitive data stored in your MVP’s database.
• Input validation: Validating user input to prevent malicious attacks.
• Session management: Managing user sessions securely to prevent unauthorized access.

Security is an essential part of MVP development. By implementing robust security measures, you can protect your MVP from cyber threats and keep your users’ data safe.

6.    Performance optimization

Performance optimization involves enhancing the performance of your MVP to ensure faster and more responsive functioning. This includes tasks such as:

• Caching: Caching frequently accessed data to reduce the number of database queries.
• Minification: Removing unnecessary characters from your MVP’s code to reduce the file size.
• Load balancing: Distributing traffic across multiple servers to improve performance and scalability.

Performance optimization is important for ensuring that your MVP provides a good user experience. By optimizing your MVP’s performance, you can make it faster and more responsive, which can lead to increased user engagement and satisfaction.

7.    Scalability

Scalability involves designing your MVP to be scalable and capable of handling an increase in user demand. This includes tasks such as:

• Using a cloud-based architecture: Deploying your MVP on a cloud-based platform such as AWS or Azure can make it easier to scale your MVP up or down as needed.
• Designing a modular architecture: Designing your MVP using a modular architecture makes it easier to add new features and functionality without having to rewrite the entire codebase.
• Monitoring and tracking your MVP: Monitoring your MVP’s performance and tracking user metrics can help you to identify areas where your MVP needs to be scaled.

Scalability is important for ensuring that your MVP can grow with your business. By designing your MVP to be scalable, you can avoid performance bottlenecks and ensure that your MVP can continue to provide a good user experience even as your user base grows.

J. Is it best to use Agile or Scrum Methodologies for MVP Development?

MVP development is compatible with both Agile and Scrum. Agile and Scrum are both iterative development methodologies that focus on delivering value to customers early and often.

Looking for the Best Agile Developers? Era Biz has your Solution! Contact us for a free consultation!

K. How to Build a Successful MVP

Here are some tips for building a successful MVP:

• Focus on the core value proposition: What is the one thing that your MVP does better than anything else? Focus on building that feature first.
• Get Plenty of User Feedback: Test your MVP with real users as early as possible and gather feedback. This will help you to identify any areas where your MVP can be improved.
• Be prepared to pivot: The MVP development process is iterative. As you learn more about your target customers and their needs, be prepared to pivot and change your product vision.

L. Metrics Used to Measure if Your MVP is Successful

The success of your MVP will depend on your specific goals. However, there are a few general metrics that you can use to measure the success of your MVP:

• User engagement: How many people are using your MVP? How often are they using it?
• User satisfaction: How satisfied are users with your MVP? What feedback have they given you?
• Product adoption: How many people have signed up for your MVP? How many people are using it on a regular basis?
• Business metrics: Are you generating revenue from your MVP? Are you meeting your sales goals?

M. Common Mistakes to Avoid When Developing an MVP

Here are some common mistakes to avoid when developing an MVP so as to prevent failure:

• Not solving a real problem: If your MVP doesn’t solve a real problem for your customers, it’s likely to fail. This is one of the biggest mistakes that you may make in the ideation stage. If a problem already has a solution, is the solution you plan to create strong enough to make clients choose your solution over existing ones (Read the Dropbox Case Study later in this article to understand this concept better). Make sure that you understand the needs and wants of your target customers before you start building your MVP.
• Building too much: One of the biggest mistakes startups make is building too much into their MVP. Remember, the goal of an MVP is to validate your business idea and get feedback from real users. Don’t waste time and money building features that no one wants or needs.
• Not getting feedback early and often: Another common mistake is not getting feedback from real users early and often. MVP development is an iterative process, so it’s important to get feedback from users early and often so that you can improve your product before launching it to a wider audience.
• Being resistant to change: The MVP development process is unpredictable. You may need to be flexible enough to change your business idea or your product based on user feedback. Be prepared to evolve as needed in order to ensure the success of your product.

N. What if Your MVP Fails?

If your MVP fails, it doesn’t mean that your product idea is bad. It simply means that you need to iterate on your MVP, learn from your mistakes, and do the changes necessary to make your MVP a success again. Here are a few tips for dealing with a failed MVP:

• Gather feedback from users. What did you do right? What did you do wrong? What features did users find most valuable? What features did they not find valuable?
• Analyze the data. What metrics were you tracking? How did your MVP perform against your goals?
• Identify areas for improvement. Based on the feedback you gathered and the data you analyzed, identify areas where you can improve your MVP.
• Pivot your product. If necessary, pivot your product or business idea based on the feedback and data you gathered.
• Iterate on your MVP. Make the necessary changes to your MVP and launch it again.

O. Case Studies: How Airbnb, Dropbox and Stripe used MVPs for Success

Here are a few examples of successful startups that used MVP development to launch their products:

●      Airbnb:

Airbnb started out as a simple website when a couple of hard-on-cash developers came up with the concept that there should be people willing to pay to sleep on air mattresses in their living room during tech conferences. The founders focused on building a basic MVP that allowed themselves to show their house location with photos and book reservations. Once the MVP was validated, the founders began to add new features, such as better branding, being able to host other homes and view their availability on a map, secure payments and user reviews.

●      Dropbox:

Dropbox founder Drew Houston has to formulate a different sort of MVP. The concept of file sharing through sharing a drive was unheard of at the time. People were used to finicky file sharing services that often had data limits and did not work well. However they were not able to develop a product as it was highly technical and too expensive and time consuming to develop without a lot of funds. However, investors were unconvinced about the need and success of the product due to existing file sharing services. Drew Houston and his team then created a video showcasing how the product would work and used it as their MVP which led to the massive success of Dropbox.

●      Stripe:

In 2010, Stripe, then called ‘/dev/payments’, started out as a simple way for businesses to accept online payments. The founders focused on building a very simple lowtech interface that accepted and sent payments and refunded them when necessary. They only used an error triggering code to test out various errors that could arise with credit card processing errors and had no specific pricing. Once the MVP was validated, the founders began to add new features, such as recurring payments and fraud detection.

P. What Comes After Developing an MVP?

Once you have developed and launched your MVP, you will need to continue to iterate on it and add new features based on user feedback. You will also need to start marketing and selling your product.

Q. Who We Are

Era Biz Solutions is an offshore software development company in the UK and Sri Lanka that was formed in 2011. The organization focuses on providing custom software development, web development, and mobile app development services to clients in a transparent and reliable manner. It is known for the innovation and creativity of its talented dedicated developers and dedicated teams sourced by its tech hub in Sri Lanka. In addition to the custom development projects offered in the form of full project outsourcing, Era Biz also provides flagship solutions for CRM, ERP, LMS and Logistics, as  that have many loyal users over the years.

R. 9 Reasons Why You Should Hire Era Biz to Build Your MVP

1. Advice on the most effective technologies for your project

We will advise you on the best technologies to use for your project, taking into account your specific needs and requirements. We have experience with a wide range of technologies, so we can help you to choose the right ones for your project and ensure that you are getting the most out of your investment.

2. Highly experienced and educated developers guaranteed

Our team of developers is highly experienced and educated, with a proven track record of success. We have a team of experts in every area of software development, from backend development to frontend development to mobile development. We also have a team of DevOps engineers who can help you to automate the build, deployment, and testing of your MVP.

3. Comes with a project manager who will manage your product with no hitches

We will assign a dedicated project manager to your MVP who will work with you to ensure that your project is completed on time and on budget. Our project managers are experienced in managing complex projects and will keep you updated on the progress of your project at all times.

4. Fluent communication in English and many other languages

Our team of developers and project managers are fluent in English and many other languages, so you can be confident that you will be able to communicate with us effectively. We also have experience working with clients from all over the world, so we understand the cultural differences that can exist.

5. Agile Development which allows you more flexibility and adaptability

We use Agile Development methodologies to develop MVPs. This means that we work in short sprints and deliver working software to you at the end of each sprint. This allows you to get feedback on your MVP early and often and to make changes as needed. Agile Development also allows us to be more flexible and adaptable to change.

6. We have over 12 years of MVP Development experience under our belt

We are a reliable IT company with over 12 years of experience in developing and deploying MVPs. We have a proven track record of success and have helped many startups and entrepreneurs to launch their successful products.

7. Highest cost-effectiveness through offshore software development

Offshore software development can be a cost-effective way to develop your MVP. We have a team of experienced and educated developers located in offshore locations, which allows us to offer our services at a lower cost than onshore development companies.

8. Top-quality work with the highest efficiency

We are committed to providing our clients with top-quality work with the highest efficiency. We use the latest technologies and development methodologies to ensure that your MVP is developed to the highest standards. We also have a dedicated team of quality assurance engineers who test your MVP thoroughly to ensure that it is bug-free and meets your expectations.

9. Timely completion and assistance with implementation

We will work with you to ensure that your MVP is completed on time and on budget. We will also provide you with assistance with the implementation of your MVP to ensure that it is launched successfully.

S. Our Easy 4-Step MVP Development Process

We make your life easy by making all the complex steps easier with a simple 4 step process:

1. Product Planning / Ideation
2. Hiring the Team
3. Product Development
4. Testing and Launch

Throughout this 4-step process we offer absolute support and ensure that your valuable product funding is not wasted on unnecessary procedures.

T. Conclusion

MVP development is an essential process for any startup or entrepreneur who wants to launch a successful product. By following the tips and advice in this blog post, you can increase your chances of success and create a product that your customers love.

Contact Era Biz to discuss how to make the most effective and efficient MVP for your concept.