Hey Devs, happy Friday 🦥💚
As always, it's been an eventful week in the tech industry. We've got a lot to talk about! And today I want to discuss...minimum viable product (MVP).
I recently got this question in my inbox:
How do you plan a project from scratch, and how do you know when you have MVP?
This is a great question! For folks who aren't familiar, MVP refers to the stage of a build where you have just enough features needed to get early adopters using your product. No more, and no less!
Here's some more reading on this product approach from Forbes:
A Review Of The Minimum Viable Product Approach
The truth is, there are no rules. But by applying at least some of the rules, you can accelerate your entrepreneurial spirit.
forbes.com
So, what do you think? Share your thoughts in the comments and let's discuss!
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Top comments (1)
When planning a project from scratch, it's important to start with a clear understanding of the problem you are solving, who your target audience is, and what specific needs your solution will address. Research the market, your competitors, and the needs of your potential customers. Based on this, you can define your product's unique value proposition.
The concept of an MVP, as highlighted in the Forbes article, is integral to this process. An MVP is essentially the most basic version of your product that still solves the problem effectively. Knowing when you have an MVP can be tricky, but the key is to focus on the core features that address the problem, and are necessary for your solution to function. Anything beyond that should be considered for future iterations based on user feedback and market response.
Keep in mind, however, that there are alternatives to the MVP approach like MLP (Minimum Lovable Product) or MMP (Minimum Marketable Product). Each approach has its own pros and cons and the choice between them should be made depending on the specifics of your project and market expectations.
Your MVP (or MLP, or MMP) should be enough to attract early adopters. Feedback from these early users will be invaluable in refining your product and preparing it for a wider launch. Remember, the key objective of launching an MVP is to learn and validate (or refute) your assumptions with minimal effort and resources.
Planning a project from scratch is a systematic process of understanding your market, defining your product, and developing a basic yet functional solution that serves as a stepping stone towards a more refined and market-ready product.