SUNDAY REWIND: The complete guide to building MVPs

This post from Dmytro Zaichenko starts by running through the purpose of MVPs – solution seeking, hypothesis testing, essence delivery, product improvement – using well-known names like Airbnb, Uber, Zappos and Spotify to provide examples.

He explains how MVPs enable businesses to test business concepts, attract investment, reduce costs, analyse demand and polish their products.

He then looks at different types of MVPs – which can be broadly grouped as hypothesis-centric, model-centric or feature-centric – and offers a four-step approach to building one. This entails:

Preparation

Thorough research to evaluate your idea, market, target audience, and more, with a focus on problem-solution flow.

Identification

You need to work out the value of your MVP. Identifying the benefits and painkillers your product can bring to users and in the market enables you to choose the most suitable type of MVP.

Perception

Remember long-term perspectives and develop a roadmap.

Evaluation

Launch the MVP and collect feedback.

Dmytro concludes: “Is building an MVP always an effortless and successful procedure? Nope. But it’s definitely a reasonable, cost-effective, promising move to try.”

Read the original post: The complete guide to building MVPs