When is the right time to launch a product?teams face this question all the time. After all, there is a lot at stake: reputation, investments and public feedback. That is why a Minimum Viable Product, or MVP, is the right way to deliver something relevant, even if it is not in its final version .
Contrary to what many people think
we are not talking about prototypes. For PM teams, the work should consist of delivering something ready. Even though we are not talking about the best possible version, it is one that is capable of delivering value through features and a good experience.
reception is important. And the right way to do this is with a minimal, but still qualified, delivery. That’s what MVP is all about! Continue reading and learn more about the topic.
What is an MVP?
Minimum Viable Product, or MVP, is the smallest possible product offering that PM teams can create to validate proposals or monetize with the In other words, it can be delivered as a product for sale, but the idea is that it is a smaller, functional and pleasant version, not as complete as what is actually intended to be done.
The literal translation of the expression
gives us a better understanding: minimum viable product . It is the version that generates the least costs and the least effort, but we are still talking about a sellable product that delivers something to users and consumers. There are many ways to draw parallels to illustrate this, but we need to be careful.
Many people like to compare MVPs with demo versions of games, for example. However, in this case, there is a simple and main difference: MVPs are not demonstrations, but rather smaller and simpler versions. Demos are free and are a sample of the main product, i.e., they are an incomplete experience.MVPs are launched as ready-made Most of the time, when they are sold, the public does not even know that they are consuming versions of this type.
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Smaller but not worse
Perhaps an analogy that illustrates what MVP is well is that of a cupcake, which is a miniature cake. As a product, it lacks nothing. There is frosting, filling and dough, of course. If we can point out something, naturally, it is the size, much smaller than a conventional cake.
However, a cake is a larger version, with more filling and topping options, and also comes in different types of dough. In this version, it also serves israel email library more people (you can buy it for a party and serve 15 people), in addition to having a higher price, which results in greater revenue and profit.
Time is a fundamental issue
PM teams are often in a rush to launch products on the market, which is perfectly understandable. It is a daily challenge, but balancing commercial interests br lists with deliveries that are highly aligned with the market and audience is part of the job.
Given this scenario, MVP is the most appropriate option for making quick launches and raising financial resources . From there, it is possible to work with a product on a different scale, with more functionalities.
How not to make a Minimum Viable Product
Remember the example we gave about cupcakes being MVPs for cakes? Now, imagine if a product development team decided, instead of launching these miniatures, to launch incomplete cakes on the market, which could be without frosting, or even without filling. In this case, there is no doubt that the impact would be negative.
The biggest mistake you can make when delivering MVPs is to believe that half-baked products that are developed in an embryonic state will do. Working with this basis will result in deliveries that are incapable of providing a quality experience to consumers, even if the functions are not that extensive.
This is what Gerard Chiva explained through the illustration you see below, published in on the Aktia Solutions blog:
On the left, with the misconception of MVP, we see only a product with limited functionality. On the right, we can see the right idea: despite having limited functions, since it is a lean version, there is an idea of a finished product, since it meets general requirements, such as customer satisfaction, usability and reliability.
In more general and objective terms, an MVP cannot:
- be
- be a product that is in the initial phase of development;
- be a low quality product;
- be a product that does not deliver functions linked to its value proposition.
What does an MVP need to have to achieve its goal?
Knowing how to create an MVP involves understanding what its pillars are, that is, what it must offer. We will address these issues below.
Be functional
Being functional means having features that truly deliver value and help users achieve their goals. Thinking about the idea of cupcakes, it is a product that is tasty and offers everything you would expect from a cake, but in a smaller sample. The goal, which is to taste a specific recipe, with its main characteristics, is offered.
Have usability
Usability, in this case, means providing products that are fully usable without restrictions on construction and operation. Imagine using a banking app that doesn’t allow you to view your statement. Would it still be really useful, considering that it is a fundamental action? This idea should be applied in MVPs.
Offer a quality experience
Your product team needs to launch a banking app within the MVP concept. Therefore, it will only allow essential but basic functions, such as checking statements and making transfers. Given this proposal, it is essential that this product works perfectly well . This is what will generate the perfect experience.
Be trustworthy
Would you trust using a prototype in your daily life? Your answer is certainly no, as are many people’s. The reason is simple: something that is not ready may not be safe, simply because it is not a complete product. If MVPs are smaller versions, but ready to use, they also need to be safe and completely reliable .
Understanding what MVP is will help product teams to put minimal but qualified versions capable of testing value propositions on the market. This will allow them to evaluate key issues and prepare even larger deliveries with greater potential to bring outstanding results.
The debate about MVPs can never stop! So, what did you think of this content? Do you think minimum viable products are a good idea for your PM team? Share your thoughts on the subject on LinkedIn and tag Tera in the post!
