<h3>Why do 90% of the startups fail?</h3>
Because, founders haven’t adequately tested their theories.

Founders didn’t ask –“How will my product be beneficial to my audience?”
 
It becomes a costly affair when you launch the product without knowing about the market strength. And therefore, here comes MVP (Minimum Viable Product) Strategy. This strategy has worked wonders for Canva, Uber, Slack, Dropbox, Figma and more.


So, STOP rushing to code and START investing into MVP first. Hire the [professional](https://radicalloop.com) for **MVP Development Service** and start testing your dream project now! 	
 
<h3>What is the Minimum Viable Product?</h3>

An MVP is a basic and launchable version of the product. It has some basic features and functionalities needed for testing the hypothesis about the product. It allows a team to procure the maximum amount of validated learning about customer behavior with the initial efforts.

![What is mvp?](https://radicalloop.com/storage/blogs/e1704b23-88bf-4d73-bc1c-e69a4cd11012-mvp.png)

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The main objectives behind building MVP are-

- Enabling faster time to market
- Pulling customer insights based on experience
- Achieving a perfect product market fit
- Finding the right audience for the product 
 
<h3> How to Build a Minimum Viable Product?</h3>
Planning an MVP is a part of agile development. Follow these steps and start building your MVP to work on your dream project CONFIDENTLY.

<h3>STEP 1: Understanding the Market</h3>
No idea is a perfect fit for all of the market needs. Therefore, before your begin ideating and embarking on the MVP process, understand –

- Who is your target audience? (Demographics, motivation, values etc.)
- What are the needs of your target audience?

The more you learn about your audience, the better insight you can catch from the market.

Make sure you keep a constant watch on what your competitors are doing. Keep a track of their offerings and new launch products.

? [Grockit](https://en.wikipedia.org/wiki/Grockit) is an online learning game company that created MVP signup forms for validating and improving their product idea.
 
<h3>STEP 2: Defining the Value Proposition</h3>
The competition in any industry is growing at a breakneck. And, in this massive crowd, you’ll have to make your product STAND and KNOWN. Therefore start working on these points-

- What values does your product offer to your users?
- Why will your users buy ONLY your product?
- How can you differentiate your product from ‘me too’ products?

While creating MVP, define the value proposition of your application. List out what are the existing features of any ‘me too’ app and write down the ‘UNIQUE’ features that you will offer.

? [Buffer](https://buffer.com/) created MVP that allowed users to schedule their tweets and posts for social media platforms.
 
<h3>STEP 3: Mapping out User Journey</h3>
Defining the user journey is a vital MVP stage. It often leaves a lasting impact on your users. Therefore, during the designing process, look at everything from the user's perspective.
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Right from the opening version of the app to the final stage, focus on how it can add convenience to your users. Focus on the interface, ease of navigation and other designing elements that can deliver a delightful user experience.
<br><br>

? The founder of [Dropbox](https://www.dropbox.com) planned on an MVP by creating a video on features included and how the app will work. That’s how he mapped out the user journey. 
 
If you are looking for [MVP development services](https://www.radicalloop.com/contact) for startups, we are all here to help you out.
 
<h3>Step 4: Bolding the MVP Features</h3>
Now it’s the time to decide the most important features. And it’s quite easy to get carried away and confused between which features to add now and later. So, to start prioritizing the features by answering these questions-

- What are the pain points of users?

- Which features can solve these pain points?

**Start categorizing features based on-**
- High Priority – Add Basic features
- Medium Priority – Combination of basic and augmented features
- Low Priority – These are potential features

![customer impact vs customer expectations](https://radicalloop.com/storage/blogs/f846d93e-21fa-49e2-9f52-4042e671cc30-customer-impact-vs-customer-expectations.png)

Whatever features you add, it should be a blend of – primary need of brand & what your competitors are not offering.

? [Zappos](https://www.zappos.com) tested his business idea by taking pictures of shoes he found at stores. He did this to check if anyone would be really interested in buying a pair without even trying. It turned out to be a likable model!
 
<h3>STEP 5: Launching the MVP</h3>

And the most awaited moment: **Launching the MVP.**

Once you’ve studied the market and audience and added the required features, release MVP in the market. See how people are reacting to it. Based on the feedback add/remove the features as required.

Also, analyze client acquisition cost (CAC) or check the users who are interested in your product.

However, the above discussed steps are not a one-time event. This is a continuous and on-going process where the test market will throw features at you. But keep following ‘Build –Measure- Learn Feedback’ loop to keep yourself posted for-

- How to ensure the best results out of your MVP editing?
- How to know whether calculative features make sense to your users?

![build - measure - learn feedback](https://radicalloop.com/storage/blogs/a41c88a5-e43b-42b4-a45e-9af600dbf39a-build---measure---learn-feedback.png)

? Lou Mongello, who launched [Walt Disney World Radio](https://www.wdwradio.com) created audio content before creating the product and launching the podcast. After MVP, the podcast garnered millions of attention.

 And, if you are stuck anywhere while creating MVP, look for **MVP App Development service** to pace up with the flow.    
 
 
<h3>The MVP of Canva  - Example – How it started?</h3>

[Canva](https://www.canva.com/) started as a **‘Fusion book’** with a concept of allowing students and schools to create their own yearbooks with simple Drag and Drop tools. It also offered a huge library of customizable templates with image, graphics and fonts. For 5 years, it rolled out ads on social media platforms.

Gradually, Canva launched a premium version of its services at a price of $10 a month. Initially, it targeted corporate businesses with high-quality design features and offered royalty free images.

The designing software and user friendly interface together make it the most successful designing app.
 
 
<h3>Top 3 Mistakes to avoid while building an MVP (with solutions)</h3>

**1. Having an inadequate or weak product strategy**

**Mistake:**

- When your sales and marketing are vague
- When you don’t know what is differentiating your product
 
**Solution:**

- Start planning marketing strategies and activate sales campaigns
- Figure out your product vision
 
**2. Over-infused features**

**Mistake:**

- When your MVP is taking more than 3 months in building
- When you can’t identify your basic features
 
**Solution:**
- Prepare a team of productive engineers
- Prepare a 2-dimensional cause and effect table for basic feature selection
 
 
**3. Too Much Feedback**

**Mistake:**
- When you’re changing designs very oftenly
- When rework is done on every feedback
 
**Solution:**
- Create a specific client advisory board
- Streamline client and strategists’ feedback
 
<h3>Final words:</h3>

Developing a perfect MVP in one go is inherently a difficult task to master. However, building an MVP lets you explore the most untapped pain points of your audience.

In fact, MVP is a great idea to build a basic product quickly. Make sure your objectives and targeted demographics are crystal clear before you start.   

So have you spotted a gap in the market? Or wondering that your business idea is workable and looking for professional **MVP software development services?** Hire [RadicalLoop](https://www.radicalloop.com/contact) now!       

Get in touch with us today to discuss your dream project.
 
*Image Courtesy: x-staticmediagroup.com*

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Here we will discuss everything about the Minimum Viable Product, How to build an MVP, the top mistakes to avoid while building an MVP, and solutions for that mistakes.

How to Build Minimum Viable Product (MVP)? - An Ultimate Guide

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