Previously we have written an article about MVP development for startups. We have already mentioned that MVP is a version of product or service with minimum set of functionality and startups commonly create it mainly to test hypothesis, confirm marketing demand and even acquire a base of initial users. In today’s article we will sort out some other cases when development of an MVP is also required.
Code Inspirations’ clients are divided into the following categories:
- company that has a product and needs development of additional functionality;
- large company that operates in several niches.
The last mentioned type of company usually needs to create an MVP to test market demand in order to see if it is a constructive step to invest resources in this or that niche.
So let’s define what is an MVP development action plan for the company’s case.
How to develop an MVP
In general MVP development consists of 9 steps:
The first important task is to collect stakeholders and end users feedback. These groups are asked to indicate what do they expect of the future system, what tasks they would like to execute using the system, their vision and so on.
This leads to a description of functionality that is a basis of further prototype development. After prototype is ready it is sent to usability testing. Usability testing is a kind of research when a prototype is demonstrated to users, and they are asked to try the system, to perform some tasks. Results of usability testing are a good source of valuable information on how users interact with the system. These results should be analyzed in details. In this way we get feedback and can understand which functionality is required, which is not and which should be modified. What’s more, acting in a such way doesn’t require significant budget spending. In case of necessity usability testing can take 2 iterations.
The next step is to form a specification document which should be discussed with business analyst. We would like to add there is a best practice to involve business analyst at the very beginning of the process. We are talking about an analyst who is an expert in the niche of the product you create, who can consult and inform of any special aspects in the given niche and advise on features you plan to implement.
After consultation with an expert you can address to your software development partner and ask for estimation and consultancy. At this stage a representative of a software partner will analyze the scope of work and offer a development strategy, select right architecture, technological stack on the basis of project’s requirements and business needs.
In case scope of works is defined and will not change, it is possible to ask for fixed price estimation for the MVP development.
According to the statistics, the term of MVP development usually takes 1-3 months depending on business goals. The thing is that a customer’s goal is to enter the market quickly and there is no time for development of entire system. So, it takes 1-3 months to release a product with basic functionality and then develop additional features in case MVP is successful.
During the period of development a customer can meet with business partners, define further business strategy, maybe look for investments, define or change monetization strategy etc.
There is also a case when the task is to create a complex enterprise-level software product. Then, definitely, MVP development will take longer than 3 months and budget will be increased. And in fact MVP in this case could be similar to ready product. So preparation stage of getting stakeholders feedback and prototype development is of high importance because if a customer correctly defines the requirements at the very beginning, — later there will be no need to spend efforts on a development of additional functionality or modification of existing one.
Time and Material model of work could also be applied. When a customer has just and idea of a product, so it is possible to start with design development and define features, plan architecture, select technologies as a parallel activity. Dividing the development process into 2-3 weeks’ sprints and selecting a set of tasks for each sprint makes possible to create an MVP starting with a single idea.
The thing is that MVP development and release is just the beginning. It is also important to continue the process of product development after MVP is released. We are going to describe this process in the series of articles that might be interesting to our customers to know some special aspects of this process. We plan to write about further product development, methodology, types of projects, how the development process is formed etc. Obviously, there is no completed successful product because a good product requires constant improvements.
In case you are on the stage of an MVP development, do not hesitate to contact us via the form below to get our consultancy and discuss how we can contribute.