Why a Minimum Viable Product Should Be The MVP of Your Business

One might be confused upon hearing the term “Minimum Viable Product,” but it’s something everyone interacts with at one time or another. Beta testing products or maybe even software can be considered use of an MVP. 

MVP examples can be found everywhere, believe it or not! Companies love using them to cut down on the cost of product development itself. This process is considered The Lean Startup Method, and is not only applicable to minimum viable products but also most (if not all) businesses as a whole. 

All the marketing and well-placed ads can’t possibly match up to the punch of a perfectly executed minimum viable product. MVPs are the backbone of successful businesses.

What is a Minimum Viable Product (MVP)?

By definition, a Minimum Viable Product is the first version of a product that goes into testing with consumers. This product might not have all the bells and whistles that its final form may. However, it’s the MVP when it comes to a business’ consumer and developer relationship.

For example, any usable product that customers can ultimately test out and report back on is considered an MVP—demo videos, social media pages, new games, or potentially household appliances.  

What can MVP’s do for my business?

To put it plainly, the MVP’s (Minimum Viable Products) are a go-to way to get some buzz started about a company as soon as possible. It forces the company into the spotlight, and even if the MVP needs more work, they still have an opportunity to tweak the design and get it right for the next time.

The Minimum Viable Product gets you a more up-close inspection of your product than you expected. What does that mean? Sometimes consumers are more likely to find and report problems or trouble with a product that one may not even know exists. 

Minimum Viable Products are not just for show. These are sturdy pieces of the business’ making that can be used reasonably. The better they are, the more promising the full release will be.

Additionally, utilizing MVPs can save a company money in the long run. Testing a product with the general public allows real people to explain what they liked or disliked. It can honestly be “make or break” in some cases. 

What defines a product as Viable?

A basic version of the concept is created and brought to fruition. The marketable sustainability is determined through a variety of factors set by the company itself. (i.e. If it’s a social media platform, they wouldn’t build a physical model but would select beta testers among their users)

Minimum Viable Product Verdicts

Companies would be wise to implement MVPs into their everyday operations. When presenting something new to a consumer base that has constant ads and forever-breaking appliances, the MVP can come in handy. 

It’s human nature, but everyone loves to complain. Of course, it’s impossible to expect to please everyone all of the time, but there’s no reason not to try. Generating an MVP has got to be one of the most clever ways to work out all the bugs before something gets mass-produced.

While an MVP will save a company money, it might not make their money—right away, that is. Since a minimum viable product is a step above a prototype, it can be a bit of a costly stage in your process. However, assuming you have the funds ready to get your MVP on the move, then you’ll be sure to make the cost back in revenue.

Author Bio:

Jonathan is a technocrat and an avid outdoor enthusiast. He is a community manager and a committed team member at Userwell.com – a subsidiary of saas.industries. When he isn’t working to make the internet a better place, Jonathan can be found exploring the great outdoors and beautiful coastlines with his sidekick, Zen, a very energetic Weimaraner.