If you are an entrepreneur, have a company or want to launch a startup, you've probably wondered how to validate your business ideas before investing time and resources in them. The answer is with an MVP (Minimum Viable Product).
The minimum viable product is a key tool for validating business ideas and minimizing risks, and in this article we explain why and tell you how you can develop it.
MVP, or minimum viable product, is the simplest version of a product or service. The MVP is often used by companies and entrepreneurs to validate their business ideas with a simple, fast and affordable strategy.
The MVP concept has been widely adopted by startups thanks to its origin in the movement created and spread by Eric Reis, a successful entrepreneur from Silicon Valley.
To ensure the success of a startup, it's essential to develop scalable products that are introduced gradually. This practice is very functional to reduce risks and avoid excessive expenses.
The MVP is an integral part of this idea, also known as Lean Startup, which is based on real validation, without guesswork, based on tests and customer feedback.
As we have reviewed so far, the MVP serves to validate a business idea with a minimum cost, and to collect feedback from users before investing in a final product or service.
In this way, companies and entrepreneurs who develop an MVP can identify problems and opportunities for improvement, and adjust the business model accordingly.
Whether it is a company that has several areas or an entrepreneur who continues to develop their business model, there are certain angles that must be evaluated to develop an MVP.
Design Thinking, UX and the technological profile for developing apps or software are three of them. However, this isn't essential for creating an MVP. Here's a deeper dive into these approaches:
The entrepreneur or company must have a clear business vision and know the objectives and needs of their prospects or customers. This helps define what characteristics are essential for the MVP.
The entrepreneur or company must have a vision focused on the target and be able to design an optimal user experience for the minimum variable product.
In addition, you must be able to create rapid prototypes and test them with users to get feedback. For this you must rely on professionals in these areas.
Companies or entrepreneurs should focus on developing the MVP with a minimum set of characteristics.
For this task, you can rely on experts in no code. This is because non-code tools allow you to develop the MVP quickly and efficiently, which undoubtedly represents advantages.
In Latin America, companies specialized in no code such as Arcus are already helping entrepreneurs and companies from various sectors to develop their MVPs in a short time and optimizing resources.
The MVP app is a simplified version of any type of mobile application that allows you to validate the business hypothesis and collect feedback from users.
The MVP must have a minimum set of features that allow users to interact with the application and evaluate its usefulness.
For example, a food delivery application could have as its MVP a simplified version that allows you to order and pay online. A marketplace could also have an MVP to test the payment or messaging process.
Also, a financial services company may have as its MVP a simplified version of software that allows it to improve its automatic billing or inventory management processes.
There are many examples of minimum viable products that have been key to the success of companies such as PayPal, Airbnb or Amazon. These companies used this tool to validate their business ideas and adjust their business model accordingly.
PayPal launched its MVP in 1999, allowing users to send money via email.
This allowed PayPal to validate the hypothesis that there was a need to send money quickly and easily, and to evolve towards a complete online payment service.
Airbnb launched its MVP in 2008, allowing users to rent inflatable mattresses in their apartment. This allowed Airbnb to validate the hypothesis that there was a demand for affordable and personalized accommodation, and to evolve towards a complete housing rental service.
Amazon launched its MVP in 1995, allowing users to buy books online. This allowed Amazon to validate the hypothesis that there was a demand for the purchase of books online, and to evolve towards a complete online sales service.
Arcus, the route to developing your MVP
Creating an MVP may seem like a complicated task; the good news is that there are companies like Arcus, a company that specializes in the rapid and efficient development of MVP.
Arcus is an expert in no-code tools, technologies that are ideal for developing prototypes quickly and affordably.
In fact, no code is becoming the standard and recommended route for launching MVP's, as tools of this model such as bubble, make and zapier have proven to be extremely useful for developing intuitive, highly functional MVP's in a short time.
As if that weren't enough, the Arcus model can reduce the development time of MVP's by half, compared to the conventional way of developing MVP.
In conclusion, if you want to create an MVP and you don't have technical knowledge, don't worry, at Arcus we will be happy to help you. Contact us now!
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