Cute references, talented team, innovative technology: What makes MVP in software development efficient? 

Do all these success stories of digital entrepreneurs fire your imagination with ideas and desire to try something on your own? In the majority of situations, the budget limitations serve as a stumbling block for checking your concepts in practice. But what if we say there’s a secret path to the realization of your ambitions painlessly and gradually? In the picture, you have found a picturesque place where you’re going to build a ritzy hotel.

You can invest tons of money right away, promising investors fabulous ROI. But what if the location you’re considering as the most appropriate place for your enterprise wouldn’t become popular among tourists? What if they have some hidden preferences you didn’t keep in view while constructing infrastructure? What if transportation isn’t convenient for customers? What if competitors could offer something better at the same price?

To avoid mistakes and overpaying for testing your hypothesis you can build just one residence in the place with minimum facilities, using catering instead of your restaurant, for example. And if people are ready to get there and pay for apartments in that place, you can reinvest profit for further expansion and development. So, you’ll be protected from unjustified expenditures and the wrong direction for business development.

At the initial stage, it often makes sense to start with minimal investment, and, respectively, risks. If the idea isn’t vital, not so much money will be lost. If it shows promising results, you can improve business, gradually adding new functionalities and leaning on real-world feedback. The same scheme works in digital space as well: and if you are wondering what is mvp in software development, read the Purrweb experts who can explain it simply and clearly.

How to benefit from MVP development

If we start getting under the skin of the issue, we’ll discover that there are two big privileges conjugated MVP development:

• Cost effectiveness

Since you’re focusing only on the core functionality, there are no excessive features to overpay for. That doesn’t mean that your product will be defective. It will not be sloppy either. Yes, all the unnecessary features will be excluded, but those that stay in the backlog will be tailored perfectly. The more limited number of functions entails a more balanced budget requires.

• Fast delivery

If you have a fresh business idea, it’s a pivotal point for success to overtake the competitors and stake out a place in the market. The key advantage of MVP development is linked to the opportunity to launch the product just in a few months. The Purrweb demonstrates it is often possible to show tangible results three-four months after starting the project.

Common mistakes when developing MVP

Targeting to create a worthy product, you need to have some set of knowledge and skills to receive exactly the results you need.

Prioritize properly

If one looks at this task superficially, it seems to be simple. In reality, most troubles connected to MVP development are caused by a lack of fair prioritization. It’s hard to be merciless when every feature seems to be valuable, and all of them you want to see in your product. But there’s no other way that directly bolsters business goals and objectives than skillfully performed prioritization.

Cooperate with an expert team

Don’t underestimate the significance of a reliable partner with relevant experience and a high level of skills. They contribute at least 50% to the foundation of a thriving business. Be careful when selecting IT colleagues: don’t let extremely low pricing or fantastic, empty promises tempt you.

Select the appropriate technology stack

People who are working in the software development industry for a long time know the secrets to optimizing expenditures. When you’re planning a mobile app, create your MVP with flexible tools. As you remember, there are two groups of potential target users for the app: iPhone owners and smartphone ones. And to reach both these audiences, you have to hire native developers. But there’s a trick. Thanks to React Native you can cut MVP development costs by 30 or even 50%. Why is it cheaper? Because the experts can reuse code for various systems, and it saves their time, and your budget respectively. As for the quality, don’t hesitate: the end users will discover no difference between these two variants of products. But you get an essential advantage: in case you need any renewal or additional features, it would be faster and cheaper to add alterations.

MVP: three steps to achieve results

Conserving to drive your project idea home at an adequate price and within a short timeline, you can follow this plan.

1. Learn the market.

You can catch a bunch of shticks observing the diversity of similar products in the market. Analyzing the strong and weak features of competitors, you can gather the variation of the service that can delight users. Write down the list of obligatory features which provide fast and effortless problem-solving for users. Since you know what and how the user can get through the app, focus on searching for the appropriate contractor.

2. Create a clickable prototype

At this stage it’s better to start cooperation with the full cycle app development agency as it will be more convenient to get over to the next step of the process. Working with the UI/UX team, you transfer your ideas into a visual form. Colors, fonts, illustrations and animation, ux copywriting, modules, buttons, and slides: the experienced team organized all the elements into a well thought architecture. The first users get access to see what and how it looks and works in the project.

3. Build a fully functional product

As the logic and visualization of the product is determined and the first feedback is gathered and UI/UX design is tested, you can attract investors to support further development. It’s time to transform a prototype into a product working as required. At this stage, you need talented frontend/backend IT engineers, experts in quality assurance, and PM.

Which is an adequate cost of MVP development

Cooperating with an expert team, you can count on getting a good bang for your buck in case all the components are chosen properties.

The total bill for the services is usually a result of the multiplication of hours that specialists spent working on the tasks and their hourly rates. As for MVP development of average complexity it often starts from $30,000-$40,000 and requires at least three months.

Why is it worth investing?

When it comes to MVP development, you are possibly splitting between two scenarios: wait for favorable circumstances to get enough investment or try checking your hypothesis with the available resources. One of the most tangible advantages an MVP offers is the availability of work with not imaginable, but real customers.

That means you won’t lose the path among the characteristics that were offered by your fantasy, but you’ll find the functions that are truly interesting for your audience. That means that even if your first attempt fails, you’ll become closer to your dream than you were before. Remediating mistakes makes success feasible. What if the Amazon founder didn’t risk opening his bookstore? He hadn’t got experience in e-commerce. But starting working with minimal service, he explored the industry, figured out what people wanted, and offered it. Such a nice sample demonstrating how the mentioned approach works.