An detailed MVP development guide for startups: Process, Cost, Features and Benefits

Explore the MVP development guide for startups & SMEs to understand its process, MVP development cost, MVP features, and benefits of MVP in software development. 

Now there is a common term for MVP or Minimum Viable Product. MVP development is familiar even to those not related to the product development aspect. The MVP development is a perfect choice for any SME and startup. They can use MVP features to test targeted audiences. Moreover, MVP development helps entrepreneurs save launching costs and attract angel investors to the project. 

Before launching any software product, entrepreneurs often face tight budgets and deadlines. Therefore, MVP development is critical for all. Since the Minimum Viable Product is a flexible version of a software development product. This version has enough MVP features to solve customer problems. Furthermore, MVP development also helps product teams learn about their target audience without wasting effort in the development process. Explore the MVP development process, cost strategies, essential features, and benefits. 

MVP development: What is it? & Why is it important? 

What is minimum viable product? 

MVP, or Minimum Viable Product, is a test version of the software development product. Launching a product into the market needs to understand what end-users need. Entrepreneurs ensure to have necessary MVP features and information about what end-users want. It is where MVP development comes in. 

MVP development process helps reduce the software development cost and save the time of product launch. Besides, MVP helps learn and optimize the software development process. Through some testing cycles, MVP development helps minimize errors and optimize ideas. When it comes to outsource mobile app development firms, they advise startups to build an MVP. Building an MVP allows entrepreneurs to focus on relevant mobile app features. It solves the problems of end-users. 

Why do SMEs & Startups need their MVP development? 

According to statistics, about 90% of startups and SMEs shut down their operations. 10% of startups collapse in the first year. Around 70% will not survive between the 2nd year and 5th year. Here are cases: 

• Lack of end-user insights and needs (40%). 
• Running out of money (30%). 
• Competitors’ success (20%). 
• Marketing, pricing, and others (10%). 

MVP development is a way for startups to avoid business challenges. Explore more about how to build an MVP and the benefits of VMP. 

Additionally, the MVP development process is helpful at the beginning of a software development product process. Creating the MVP development will show whether business ideas are worth investing. Moreover, the MVP development process can define a proper business direction to fit market needs. 

With their limited resources, startups and SMEs build an MVP for their product. Furthermore, building an MVP is for a mobile, a tool, or a service to meet the consumers’ demands and needs. Besides, the MVP development process can help solve some problems and improve their life by using a specific product. 

Therefore, MVP development is a component that helps serve targeted audiences better at lower costs and speed up the product launch. With the benefits, the IT outsourcing company suggests startups build an MVP. It is the advice for SMEs to outsource mobile app development for their software development product. 

What are the tremendous benefits of MVP for startups & SMEs? 

MVP features enhance the faster release 

Shortening the launching time is one of the main benefits of MVP development. Dedicated development teams often advise SMEs to build an MVP. Entrepreneurs can release basic yet fully-functional products in a short time. 

Therefore, MVP development helps startups to capitalize on the market opportunities in the fast-paced market landscape. Startups hire an IT outsourcing company for their software development product. 

Basic-and-fully-functional products for release 

When it comes to outsource mobile app development, startups will have mobile apps launched via MVP development. The benefits of MVP development are obvious for the product launch. Since it focuses on developing and improving core MVP features. 

The benefits of MVP support business goals and mobile app features. MVP development helps eliminate the possibility of unnecessary features and rework time. 

Enhancing the evolution of product launching 

Since technology and software development is growing, MVP development creates opportunities for evolution. So when outsourcing mobile app development, startups see technological evolution which depends on various needs. It is critical for product launch, especially in making software products evolve. 

Building customer relationships sooner 

The massive benefits of MVP development make an IT outsourcing company recommend startups to build an MVP. One of the benefits of MVP development is robust customer relationships. MVP development allows end-users to contribute to the overall performance of fully-developed products. 

Moreover, their real-time experiences and insights shape the flow and structure of custom software development products. Therefore, there are lots of factors that make startups build an MVP at the beginning of software development. 

The cost-effective MVP development process 

Perhaps dedicated development teams advise startups to create MVP development for a software product. Entrepreneurs instead of investing in creating a full version of custom software development. 

The MVP features allow them to invest in a software product reducing the risks of losses. Besides, development teams build an MVP based on basic needs. Therefore, it is cost-effective. 

Step-by-step to build MVP development process 

Here are 4 key things of the MVP development process. Thanks to the MVP features, dedicated development teams help startups create an appropriate MVP version. As an IT outsourcing company, we understand the challenges and difficulties while creating software applications. 

Step 1: Define MVP linked to business goals/PRD 

PRD (also product requirements document) defines purposes, features, functionality, and customer behaviors. Before creating the MVP development, dedicated development teams need to review it through PRD. It includes objectives, ideation information, and analysis. 

Let’s take a look at a food-ordering app. Here is the product requirements document. 

Objectives: Your MVP features can solve users’ problems 

MVP development process defines real-time user problems in the food ordering system. The MVP features in mobile apps might solve the demands’ of users. Entrepreneurs connect users to suitable restaurants which can deliver meals at the right time. 

MVP feature ideas: user persona, stories, and epics 

Understanding user persona 

Before creating the MVP development, entrepreneurs help dedicated development teams depict target audiences. User personas tell the type of users and perform a set of actions. There are some types of target audiences with specific actions. 

Understanding end-users helps startups build an MVP in the MVP development process. User personas help UX/UI design and developers to empathize with end-users. Therefore, the MVP development process can define the design and MVP features around their needs. 

User stories and epics: how users interact with MVP 

In the MVP development process, startups and development teams work together to create a user story. The user story is a short description of how an end-user interacts with mobile apps and MVP features. Additionally, the user story helps startups achieve one of their business goals. 

For instance, when a customer takes an order, he/she receives a notification and sees ordering details. Hence, users can review and respond to the order in less than 30 seconds. 

Moreover, a user epic is a collection of user stories. Developers break down the user epic into smaller stories. They can be: 

• Ordering meals 
• Making payments 
• Rating the delivery experiences
• Returning an item (if any) 

MVP feature analysis: assumptions, constraints, and success criteria 

Assumptions: what startups expect and how users will behave 

In the MVP development process, entrepreneurs and startups can define assumptions. Those assumptions are what startups expect the MVP features to do and maybe how users behave. 

In the case of food ordering apps, users expect and use food delivery services at noon and evenings. Restaurants will expect users to order their meals and drinks via online food ordering apps. 

Constraints: define software application limitations 

The MVP development process helps entrepreneurs outline possible software product constraints. For example, users can’t receive notifications after they take orders. Besides solving assumptions and constraints in the MVP development process, startups and developers tackle those problems earlier. Moreover, the MVP development process helps create a better experience for users. That’s why when creating food ordering apps or mobile apps, IT outsourcing companies advise you to build an MVP. 

Success criteria in the MVP app 

Defining success metrics is critical for all kinds of software applications. The success metrics include user engagement, churn rate, and sites on time. They help measure the effectiveness of the MVP development process. 

Additionally, developing success metrics helps dedicated development teams validate the original products. It leads to a better customer experience in the mobile app. For instance, the online food ordering app can define metrics such as the number of downloads, the rate, and the time in the mobile app. 

Step 2: Label and organize content on the MVP development 

The next step of the MVP development process is to organize digital content like pages, sections, and MVP features. In this stage, dedicated development teams define into two sub-steps: 

Define the content for MVP development 

In this stage, startups help development teams define the product’s content: pictures, texts, etc. First of all, entrepreneurs research trends and depict their target audience. Moreover, they create a quick mind map with lots of topics. The mind maps help us visualize all content and link some related ones. 

For the online food ordering app, startups can define restaurant topics (menu, order logs, customer databases, images). Besides, the menu consists of food, drink options, and special offers. 

Cluster the content for its hierarchy 

After producing digital content for MVP features, startups need to think of how they show that information. It is called content hierarchy. Here is our advice for startups to sort the content: 

• Choose topics that showcase the main content 
• Organize the topics into groups 
• Name each group sticking to specific users 
• Repeat the first three steps with other users. 

Step 3: How to build an MVP: choose wireframes and prototypes 

Create wireframes for MVP development 

After startups organize their digital content for MVP development, they can build a basic UI layout with a wireframe tool. The benefits of MVP wireframe are a lot since it allows us to visualize software products while keeping learning. 

Explore how online food ordering apps choose their wireframe. 

• Sketch UI layout for each screen: sizing and positioning
• Develop a basic UI library: headers, footers, content blocks, and menu. 

Test UI layouts with end-users 

The MVP development process involves the measure, learn, and repeat stages to identify and fix problems. For instance, dedicated development teams see that users don’t use app filters or MVP features. Thus, they meet with startups to change and refine types of food, price, and distance. 

Develop a prototype – after validated MVP wireframes 

It is critical for startups to upgrade the interactive prototyping experience after choosing a wireframe. High-fidelity prototypes support pixel-perfect UI/UX design compared to the basic wireframe. Furthermore, the high-fidelity prototype is much closer to the appearance and functionality of the final software product. In addition, developers can use them to infer visual affirmations and collect real-time feedback from users. After all, software developers, UI/UX designers, and clients meet together to change and edit the MVP development process. 

Dedicated development teams can advise startups to convert the wireframe into an interactive prototype: 

• Fine-tuning UI/UX branding: color gradients, palettes, and typography. 
• Using advanced animation: scrolling, tabbing, and micro-interactions. 

Step 4: Completing MVP features, design & QA 

Last but not least, developers and startups have done everything. They expect the MVP development version to run smoothly by clicking via the prototype. Here are the things need to be verified: 

• MVP features resonating with the final software product. 
• Ensuring a natural user flow 
• Considering all use cases 
• Fixing all bugs 

Furthermore, startups and developers summarize and resolve any remaining problems together as committed before. They have to finish those issues in one or two weeks before launching the MVP development. 

Advice for startups: MVP development cost 

We have explored in-detailed how to build an MVP. It is time to estimate the MVP development cost and estimated time. Our dedicated development teams in Adamo provide various software development solutions for clients. We recommend clients build an MVP for some projects, especially in e-commerce. 

Furthermore, we have received a lot of questions. Some of them are “how much does an MVP development cost?”, “How much money do we need to build an MVP?‘, etc. 

All estimations are rough. The MVP development cost and timing might change, depending on the specific requirements and MVP features. If you want to get an accurate estimate of the cost, contact us for a consultation. 

Additionally, we use the PERT model (program evaluation and review technique) for any project estimation. It includes three components: pessimistic, realistic, and optimistic. 

If clients want to build an MVP for a custom software development project, an average expected estimate is calculated based on three points. Here is an estimation formula: 

(optimistic + pessimistic + (4 x realistic))/6 = expected estimate 

Besides estimating the MVP development cost, we also estimate a QA engineer, UI/UX designer, developers, and project manager. Our experts highly recommend not skipping these specialists. 

Wrap-Up 

Launching a new software application to the market can be challenging for its competitors, lack of time, and money. Besides, entrepreneurs need to collect real-time feedback from users. Thus, building an MVP is the right software development solution. It can avoid risks, minimize expenses, and satisfy end-users by capturing and adapting their demands. 

The MVP development is a sophisticated process, which needs to be carefully planned and divided into stages. Follow our detailed MVP development guide for startups, and make sure you don’t make any mistakes. If you have any questions about MVP software development, feel free to contact us.