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You have an idea for a product, but you aren’t too sure how successful you are going to be with it. Business always includes risks, but some mistakes can be costly. So, the best way out here is to learn as much as you can about your customers and with the least amount of effort. In other words, you learn all you can about whether or not your customers are going to purchase your product.
And this is where MVP, or minimum viable product comes into the picture. One common way out is, well, obviously, a website with a landing page. Here you present your product. Do note that you can also do this for a service. Now, you get to see what people are going to do with that product.
This way, you get a good picture of your customers’ interest level, and well, if the picture is not a good one, then you back out. Life has better plans for you. This way, you are spared from investing a lot of time and money into a product that is unlikely to be giving you success.
This is what many well-known startups like AirBnB and Zappos did, and this is what you better do. Because, as a new businessman, you cannot afford to be lazy but need all the homework done to reach success. So, here goes, these are the following steps to create an MVP for your startup, after which you can confidently launch out your new business:
Evaluate the Business Idea
In the world of starting a new business, everything revolves around thinking. If you are not going to spend enough time thinking about your new business idea, then chances are you are not interested enough and better not venture out on what looks like a moment’s fancy.
A profitable business is one that happens after a lot of thinking, putting yourself in your customer’s shoes, imagining, weighing the consequences, and so on.
Sell Yourself Well
If there is anyone who can sell yourself best to customers out there, it’s you. After all, no one cares more about your startup as you do. So, better do a good job. This is another step to create an MVP.
For this, you begin by asking yourself a few questions, like who your customers are and how your product will be of help to them? What are your customers’ problems and their best way in which you could be a solution to them? Be creative and think with your heart, and you will be surprised with what you are going to come up with, and this, in the end, will make a big difference to how you present yourself to them.
Make It User Friendly
And one of the best examples you have for this is the Zappos website, which various startups have begun to follow. The idea is to create a design that gets users stuck to your product and quickly move to taking the next steps. Keep the website user-friendly and ensure that everything is easy to navigate.
And once you’re done with that, you go ahead and work on the features. Again, begin by keeping it simple. Include just what is necessary, not everything that looks and sounds like a good idea. Remember, just what will address people’s problems. If it worked for Zappos, it will work for you too.
Feedback
What may seem perfect for you may have some improvement areas that only someone outside of you can point out. It can be someone who used your product or had a look at it.
So, yes, talk about your product, and this sure should be one of the easiest steps when you create an MVP. Get your feedback from visitors, get your feedback from friends, get your feedback from anyone. The more you see your product from others’ eyes, the more you can do by way of improving it.
Fundraising Sites
This is just another form of receiving feedback, but it has another benefit, too, through funds. If you need funds for your startup, consider this as the next step to create an MVP, and if you don’t use it anyway as a part of the last step.
It works like this. You get to see this massive crowd of people willing to lend to your startup, and you know that this is an idea that will receive many responses and work well. You know you have to go ahead.
Have a Look at Competitors
Only a fool would jump in straight away. Looking at competitors is like getting a feel of what your daily fight is going to be like, the challenges you are likely to face, and this is important even if your product is a unique one.
So, take a good look at the kind of feedback they get and compare it with yours, so you know what areas you need to pull yourself up. Insecurity is bad, but not always, you know? On the other hand, it could lead to healthy competition from when you create an MVP.
Final Words to help you create an MVP
So, there you are. And that is what it is to create an MVP or minimum viable product. Venturing into a new idea can be exciting and at the same time can have its risks. But sometimes this could be what is needed for success, provided the risk is a carefully planned one that is more likely to lead to success, and if it doesn’t, well then, the cost you have to pay is at least not going to be a heavy one.
And this is what minimum viable product is all about, the kind that you will need to resort to if the risk that you are planning to take is creating a startup, relating to a new idea that you found but prefer to be wise and feel the waters before lounging out straight into the deep waters ahead! If you would like to work with a team of professional developers to create an MVP, contact us today to discuss your project.
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