What is MVP?

1. WHAT IS MVP? An MVP (Minimum Viable Product) is the initial version of a product that includes only the essential features needed to meet the core needs of early users. It's developed quickly and at a lower cost to gather user feedback and validate the product idea before further development. www.agicent.com/blog/what-is-mvp-minimum-viable-product

2. What makes a product an MVP? In the world of Startups doing Software, App Development, Web Development, the following are some real “pointers” that can define an MVP: An MVP is a smaller and quickly developed version of a potentially bigger software product idea. An MVP is the version of your software product that should be created and launched within 3 to 6 months. An MVP is not a “Proof of Concept” for testing, it’s a working product that is launched in the market in front of real users. An MVP can be both paid or free product. In the current world, it is often times Freemium i.e you use it for free for a limited time and limited features and then pay for the full features. An MVP is often times easily scalable, it just waits for more users to jump on and next features are implemented. An MVP is a tangible (and proven) form of your product idea and hence an ideal candidate for raising investments. It is okay to test 2 different MVPs for the same product for the sake of A/B testing with slightly different names so you can later stick with and capitalize on the version that is better received. You do need to market your MVP product to reach more users and that can involve both paid or organic marketing efforts. Not properly marketing an MVP is the biggest mistake (and sadly most commonly done) an Entrepreneur can do. You can’t ideate an MVP properly if you don’t have a larger product vision at first place.

3. The difference between an MVP, Prototype and a Proof of Concept? Parameters MVP Prototype Proof of Concept An MVP is the first version of your product with core features and is launched for the users. A PoC is the proof that the product is feasible, and is meant for feasibility internally. A prototype is a blueprint of a potential product meant for internal reviews. Definition AN MVP is launched to the market commercially. A prototype is not launched commercially. A proof of concept is not launched commercially. Commercially An MVP can be very much scalable with more features and technology to become a full product. A proof of concept is not scaled, but utilized for actual development as the base technology. A prototype can be scaled to become an MVP or a full product. Scalability A proof of concept needs to be functional in order to establish the feasibility of the concept. However, its raw and not commercial level usable as its not launched commercially. An MVP is always functional for the features it is intended to offer to the users. An MVP is never non- functional. A prototype can be non functional or functional both depending upon what the internal stakeholders want. Functionality A prototype is for internal teams, not sold as a paid product to the customers. Can be sold to investors though. An MVP is usually offered as a paid product, or freemium, or generate revenue through ads. A Proof of concept is for internal teams, not sold as a paid product. Can be sold to investors though. Payment

4. When to Scale to a Full Product? Different strategies for different product types, but largely you should become really serious about scaling to full product from MVP as soon as: 1. 2. You have 5 to 10 K active users on your App. You’ve gained some early rounds of funding from investors (Angels in case of MVP). You start generating revenue on an everyday basis, however small or big it can be but a revenue every day proves your business idea as solid and it becomes worth risking everything for. You have equally or more aggressively active competitors in the same niche, and therefore you will need to scale up faster than them or in a better way. 3. 4.

5. THANK YOU! seo.agicent@gmail.com +1 3474671089 www.agicent.com/blog/what-is-mvp-minimum-viable-product