How to Build an MVP? The Complete Guide for Development

For you to build your own MVP, we offer you here a step-by-step, indicating everything that must be present in the product and how to build an MVP and its creation process works.

Define the value proposition

The value proposition is related to the product, more precisely in its ability to attract the attention of consumers. It is important to think of an MVP that is useful, attractive, and, at the same time, viable, that can be used by the public.

Set deadlines

One of the main characteristics of an MVP is that it takes less time to create.

The explanation is simple: in an increasingly competitive market, with innovative ideas emerging all the time, entrepreneurs cannot afford to miss out on opportunities.

With this in mind, we suggest that you create a calendar of actions, from planning to the launch of your product, and establish possible deadlines for carrying out each one.

Define the basic functions of the MVP

The moment of emergence of the minimum viable product is the idealization phase of the product. If the entrepreneur has a potentially profitable business idea, it is time to start developing its trial version.

It is important to note that the MVP was designed to be cheap, practical, and built-in the shortest possible time. Therefore, it is essential that you work to deliver a minimally functional product to the public, with its most basic characteristics.

It does not work, for example, to give the customer a wheel, indicating that the next step for the company is to produce a car. The wheel, by itself, does not correspond to any of the basic characteristics of a car.

Reserve the budget

Depending on the fact that it is not the final version, the development cost of the MVP tends to be exponentially lower. The product, however, must correspond to a minimum of expectations, since it must please the public.

In other words, it is important to develop the MVP at the lowest possible cost, but without sacrificing the minimum to make it commercially viable.

Make an inventory of all the investments that will be necessary for the creation of your MVP, such as expenses with material, labor, and distribution. Next, make a projection of how many products you will need to sell to recoup the invested value.

Create a specific customer service channel

When developing the minimum viable product, it is important to think of strategies to know its impact. An MVP who can't get feedback completely loses his purpose.

Test the market response

In a second moment, the minimum viable product must be available in the market. With that in mind, we'll give you tips on who to send your MVP to in the next few steps.

The response of the market, that is, the degree of interest of people in the product must be taken into account by the Producer, as it will be decisive to validate whether or not it is worth investing in your idea.

Analyze the data obtained

Finally, the data obtained through the tests must be carefully and systematically analyzed.

This implies the interpretation of the feedbacks, the monitoring of the accesses, and the time spent on the page, among other factors that will serve as the basis for making adjustments to the product before its launch.