For the ones that aren’t familiar with the acronym in the business or tech world, MVP stands for Minimum Viable Product. If you just had an “Ow okay” moment, thats fine. I’ll explain why this MVP can be such a big deal, especially if you are thinking in terms of a web or app platform.
What’s the problem?
For most that are even considering a MVP, they’ve discovered a “problem” which they feel that they can solve through a web or mobile app. This all nice and all but is it a significant problem that truly needs a solution. Let’s paint a picture here for you; AirBnB found a problem in the housing industry and came up with a solution that many were comfortable with (also, because it’s mostly a win-win for all parties involved). Now, the actionable takeaways from this are:
- Write down all features that come to mind when trying to solve this problem (try to do it with more than one person to get the creative juices more fired)
- Try to categorize these features
***When it comes to categorizing these features, I usually se the Moscow method, dividing the features into: Must have’s, Should Have’s, Could have’s and Would like (but probably won’t get)
Who else has this problem?
You identifying a problem is one thing, having others recognize the same problem and wanting a solution, is quite another. This is actually the part where you validate if there’s even a market for your “problem-solving” app. Through marketing research, you find out what the overall consensus is regarding the “problem”. This gives you two things:
- More perspective
- A better sense of direction
You need both before you even think of taking any other significant actions. If you had categorized your features already, as mentioned in the previous section, here’s where you validate if everyone else agrees with you. Here’s where you see if certain features might truly be “Must have” features.
If you are truly a entrepreneur, you might want to get started already, but that wouldn’t necessarily be the smartest thing to do. Especially if your concept requires a big investment, you might want to make sure that it’s really going to catch on with everyone else. By developing an MVP, you mostly try to validate the “Must have” features and maybe some other features which you feel strongly about. You can either test your MVP in a closed group or come up with some other scenario’s to do so. There are several ways to test your MVP, feel free to ask for some more insight.
In the next blog we’ll dive into some testing/validating options for you MVP, depending on how many viewers, this blog receives.