Minimum Viable Product vs. Uncertainty

At the initial stages of development of a product or a service many critical strategic decisions have to be made in the absence of sufficient data. As a result, the developed functionality may turn out to be redundant or cumbersome, which will lead to the need for redesign and rewriting of elements already developed, changes in the architecture, significantly increasing costs and time required for the product to enter the market.

To protect the project from these risks, it is important to get feedback from the early adopters as soon as possible by offering them a useful product with a minimum set of functions. This approach to development and its first result is called a «Minimum Viable Product» (MVP).

«You’re selling the vision and delivering the minimum feature set to visionaries, not everyone»
– Steve Blank, Silicon Valley “godfather”
Strategic Decisions
Proof of Concept

Developers use the term «terminating technological risk» to describe a technically impossible solution that can bring the entire project to a halt. In order not to stumble into such a situation after significant investments, a number of tests are carried out at the initial stages to help determine whether it is possible to implement a function before going into production.

Will it work?
Prototype

The prototype helps to give the concept a visual form. At this stage, important issues of implementation between internal stakeholders are identified and resolved, and presentation material for potential investors is created. This tool helps to bring ideas to their first embodiment, protects against the risk of additional remodeling costs for the already developed elements, and provides material for subsequent stages.

How will it work?
Minimum viable product

Have you correctly identified the needs of your target audience? How will your first users react to selected front-end solutions? Are you missing any important aspects from the real life conditions of use? A minimum viable product allows you to find the answers to these questions. Without allowing real users to try your product live, it is impossible to understand the direction of further action and the veracity of the original hypotheses.

Does anyone need it?
Business tasks an MVP solves
Minimum Viable Product vs. Uncertainty
Verifying market demand
MVP allows you to get the reaction of the market and your first users — early adopters — at the initial stages of development. This information can serve to verify hypotheses about the presence of demand for the basic functionality of the product, as well as about the selected interface implementation and the overall convenience of using the product in the intended situation.
Minimum Viable Product vs. Uncertainty
Foundation for further development
A minimally viable product is designed with the expectation of further bringing it to full functionality and maximum load and provides for the possibility of scaling and adding new elements.
Minimum Viable Product vs. Uncertainty
Quick product launch
MVP development allows you to reduce the time to the first launch by cutting back on secondary functionality, and reduce the time to the full version launch by verifying hypotheses and reducing errors and investments in development of unnecessary elements.
Minimum Viable Product vs. Uncertainty
Well-thought-out architecture
When designing an architecture, it is important to consider load balancing and possible system vulnerabilities. Without a clear-cut understanding of what is important and what is secondary in a product, you run a higher risk of prioritizing secondary functionality or making on-the-go decisions during development.
Minimum Viable Product vs. Uncertainty
Insurance against strategic mistakes
A minimally viable product is a tool for working out uncertainty, whether it is in business hypotheses or in technological solutions. This is a progressive approach that protects against unexpected discoveries after a large release by making them at the earliest possible stage and after minimal cost.
Minimum Viable Product vs. Uncertainty
Save time and resources
The first version begins with the most basic function of the product, which saves time and resources by cutting secondary elements and design. Subsequent versions are developed with the acquired objective information in mind, which allows you to spend resources efficiently and accurately.
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