Have you ever wondered if it would be possible to test a product before investing time and money to put it into development? Well, in short, this is the concept of MVP, a method that is becoming popular in the startup ecosystem precisely because it integrates a way to validate an idea in the labor market. After all, it enables the collection of feedback from real users and allows the implementation of improvements in a possible second version of the product.

In fact, many well-known companies around the world, such as Facebook and Amazon, started their processes with a simple MVP and later improved their products until they reached a version close to what we know today. Therefore, if you intend to start a startup and change the direction of your business in 2022, you need to find out what an MVP is, what its main concepts are, and how to create yours. Continue reading and check out the article that the Codeblog team has prepared for you.

After all, what is an MVP?

MVP stands for Minimum Viable Product. In short, the methodology involves the first version of a product and its main characteristic is offering the fundamental applications to ensure its functionality and usability.

Thus, it significantly contributes to testing an idea in the market and analyzing demand.

Extremely useful, the process helps the entrepreneur identify if the product is truly appropriate and if it has growth potential. This is because people often get excited about a project in theory that, in practice, does not work the same way.

Official concept

Eric Ries, in his work "The Lean Startup", defines the MVP as a version of a new product that enables a team to collect the maximum amount of validated learning about customers with the least effort.

According to the result of the process, it is possible to discover the capacity a product has to achieve good sales or if it is better to reconsider the idea.

Without a doubt, validation is fundamental for the future of a business, especially when we consider that 42% of the reasons why startups fail is precisely the creation of products that do not meet market demand.

6 biggest advantages of MVP:

1. Smart investment

Taking into account that most new entrepreneurs do not have a high amount to invest, it is worth mentioning that developing an MVP requires fewer expenses, since its evolution occurs progressively.

In this way, if the product is well accepted by the target audience, it becomes easier to win over and attract new investors.

2. Less rework

Considering that an MVP is the most basic version of a product, it must be highlighted that, in this format, it will not display extra features that, right at the beginning, could compromise the user experience.

Therefore, turning your dedication to the core business reduces potential rework and optimizes the process for the team as a whole.

3. More clarity and objectivity

To create your MVP, you need to prepare a very clear and objective value proposition, mainly to avoid distractions and loss of focus with extra features. This is an excellent way to identify opportunities, set goals, and invest your time in what really matters.

4. Long-lasting relationships

By now, you probably already know that one of the focuses of the MVP is generating real feedback. This close contact with your target audience helps build good relationships.

With this proximity, your potential customers can actively participate in the optimization procedures of your products, suggest changes, or even new features.

This entire process can positively impact the creation of lasting bonds between your business and the users.

5. Failures identification

With the MVP, possible failures are identified - and changed - more quickly. Thus, it is easier to ensure that your product has its features working fully.

6. Better understanding of the customer

Last but not least, creating an MVP also enables a closer analysis of your customers' real behaviors, preferences, and interests regarding the product, even without having fully developed it.

With this, in addition to obtaining much more valuable data, it is also possible to closely monitor your users' actions.

The MVP in practice

If you really want to make sure a product is capable of addressing the pain points and solving the needs of your target audience, the best option is to develop an MVP.

However, as much as this method involves a "Minimum Product", this does not mean that the version presented to customers should be unfinished, poorly made, or full of bugs. In fact, the word "Viable" in the acronym indicates that your MVP must be able to solve a problem, show value to users, and attract potential customers.

In other words, the product must already deliver its value proposition with excellence and will undergo a validation to be further refined in terms of usability, features, or design.

How to create your MVP:

Step by step to create your MVP

1. Identification

Analyze and document which problems your product solves and focus on developing a good value proposition.

2. Get to work

After observing the concepts of your product, it's time to put the ideas into action and move on to development.

For this, having highly qualified professionals is essential.

3. Test!

With the MVP still in progress, it's time to start the validation phase. Before launching it to the broad market, offer a beta version to a limited number of users. An excellent way to execute this step is by creating a complete landing page that explains how the product works and provides a registration option.

4. Analyze the collected data

Once your list of interested parties is in hand, it's time to grant access to these people, start collecting data, and monitor the behavior of the beta testers with your product.

5. Accept whatever feedback comes

After testing your product for a while, users will give their opinions on the features presented, share overall impressions, and point out possible errors and flaws.

At this time, it is important to be tolerant and not react to negative comments (if any). Absorb what comes as an opportunity to optimize your processes.

6. Adjustments

After receiving the feedback, you will have a good idea of whether the product is truly efficient and meets its value proposition. This is the time to define whether it is really ready for the market or if it is better to rethink the project as a whole.

Important: get inspired and do research!

Having good references is always important when it comes to MVP.

Therefore, research, study, learn about companies that have already used this method, and fill your background with knowledge and experiences.

Anyway, did you enjoy discovering how to build an MVP? If this article was interesting to you, share the content on your social networks. Furthermore, keep an eye on the Codebit blog. Soon, we will have lots of news here.

Best regards and see you in the next post!