MVP Development is the Best Process for Idea Validation

1. MVP Development is the Best Process for Idea Validation

2. Introduction Out of all the three tools POC, Prototype, and MVP, MVP yields the best results and that too in the most cost-effective manner. A Minimum Viable Product (MVP) is the fundamental version of an app with a minimum functionality. In simple words, it works as that ‘laboratory experiment’ guinea pig on which the market research is conducted. Whenever an app is still in the phase of “ideation”, MVP will help to test your hypothesis and iterate the features according to the feedback. The next question could be how you determine if the MVP is suitable to the app. www.techtic.com | info@techtic.com

4. Features of MVP 1. MVP should be focused on a single buyer persona. It works well when intended to solve the problems of one individual. You should always avoid building for multiple audiences. 2. It should be easy to build and facilitate a faster launch. 3. Despite building the MVP for a single individual, you should take into consideration several feedback. It is quite likely that diverse reviews can resolve most of the issues. Take the feedback more seriously if the reviewer fits into the target audience of your product. 1. The minimalism of MVP does not imply that you expect more by putting in less efforts. It should highlight the problems that can be solved with the app and how it can do so. www.techtic.com | info@techtic.com

5. Features of MVP This becomes all the more imperative if you have to overcome the competitive bottleneck in your market. 5. It is not even remotely possible to monetize a failed MVP in spite of all the hard work. Therefore, MVP testing should be an important aspect of your development process. 6 The objective of an MVP is to collect feedback and identify the shortcomings in the product. It is a prudent idea to limit the launch of MVP to fewer people. That said, do you know how the dating giant Tinder gained such a huge momentum? Well, it began as a simple app where the user was supposed to tap a “heart” or “x” to express their approval or rejection. It required minimal technology to build this functionality. www.techtic.com | info@techtic.com

6. Advantages of MVP Development 1. It is a cost-effective method of idea validation. When you develop a full-fledged app with an attractive design and several features, the development cost soars higher. An MVP, although developed with limited resources, can still be called a product. It costs around $5000 to $10000 to develop one, while a full-fledged product will cost anything between $50,000 to $85,000 (which off course will make sense if you are sure of its market validation). 2. You can easily get paid customers from the existing user base. It is a daunting task to attract new users without any paid advertisements or promotions. MVP is a good idea for startups who are looking forward to bringing new customers without expending more. Read About How to Turn Your Idea into a Multi-Million Dollar Business www.techtic.com | info@techtic.com

7. Advantages of MVP Development 3. Feedback for the product can help you iterate and build a better product. Customer reviews can let you understand how you should build the features of your app. That’s why developers usually build an MVP and seek the feedback from the early users. It not only facilitates iterations before the big launch but also ensures that the product renders a flawless experience to the user. 4. It saves your time and efforts. The biggest nightmare for any startup is that the product does not get enough downloads when launched. By preparing an MVP and investing in receiving genuine feedback, it will save the developer’s time and also mitigate the likelihood of failure. www.techtic.com | info@techtic.com

8. Advantages of MVP Development 5. Getting funding becomes effortless. An MVP, if done right, can bring investors to fund for your startup business. Building an MVP that aids in the monetization of the app is better than developing the final app that hardly gets any funds. You can approach platforms such as Kickstarter, Indiegogo, AppBackr, etc. to fund your apps. www.techtic.com | info@techtic.com

10. About Techtic Solutions Tons of people are talking about the effectiveness of an MVP and several successful entrepreneurs endorse its execution. Uber, Instagram, Snapchat, and several other apps started off with simpler functionalities and evolved to be huge successes-all thanks to the remarkable minimum viable product they crafted. Your app can be the NEXT. Hire a full stack development company with proven experience in building minimum viable product that helps you impress your target audience and investors alike. Techtic Solutions has been in the forefront when it comes to offering strategic support to startups with not just mobile app development services, but also in guiding them with end-to-end MVP developmentacross industry verticals from Travel, Chatbot, Healthcare, to Marketplace applications. So, if are you ready to make the BIG move with minimum viable product, get in touch with our MVP expert.You can also hire full stack developers to work exclusively on your MVP project. www.techtic.com | info@techtic.com

11. Contact Us Contact Us Visit us: https://www.techtic.com Email: info@techtic.com Phone: +1 201.793.8324