People start their businesses with an idea, however, only a few of them are winning. “Is the idea good just for me or for many people?”- this is the key question that may keep you up in the middle of the night.

Many entrepreneurs and individuals dream of establishing a winning business with a great startup app idea. Even after spending months or even years developing or improving their final product, they tend to fall short radically. The most common reason is that the founders do not communicate with their potential customers and tend to directly launch their final product thinking that the users will flock to use their product.

It’s better to find out if the product you plan to launch is required by other people or not. The best way to do that is by launching a minimum viable product (MVP). Rather than releasing a full-fledged mobile app with all the features, you can go for building an MVP.

The app will save you money and time and help identify the risks associated with your MVP App Development at a comparatively low cost. By adopting this strategy you may sleep well at night without distressing yourself with a major product failure.

What is a Minimum Viable Product?

MVP – A minimum viable product is a technique used by startups and developers in which a new product is launched with just enough features that are core to the product.

MVP product development incorporates only the core features set, good U/UX, and standards-based design. It is created to demonstrate the product idea, examine the key assumptions about interactions, and determine customer reactions.

MVP for startups is an adaptation of the final product that helps you validate your idea with your potential customers with the least amount of efforts. Launching a product based on your gut feeling about what the market might need can be disastrous both from time and money aspects. The MVP concept redefines this and ensures that you launch a thin product to get feedback about the idea from potential consumers at an early stage, to follow their reaction and willingness to purchase a product. The concept of Launching the “Minimum Viable Product” (MVP) has become popular in the business and startup community over the last few years.

MVP – the term was coined by Eric Ries. He is the author ‘The Lean Startup’ and one of the founders of ‘Lean Technologies Why is it necessary to build an MVP app?

An MVP App is the quickest way from an idea to a business. It provides a quick market entry and therefore real user experience that allows assessing a project’s potential. An MVP App is the fastest way from an idea to a business. It provides a quick market entry and therefore real user experience that allows assessing the potential of a project.

The advantages of MVP app Development

Strategic Fundraising

MVP App allows you to show a reflection of your final product to your potential users. MVP helps you to provide innovative features initially and bring more features in the future. It is affordable to launch a thin version of your Full-Featured Mobile App in the form of an MVP and test the market traction and feasibility. Once you have the required traction it becomes much easier to raise the funds.

Evolutionary Product Life-Cycle

Since the MVP Mobile App only incorporates the core features of your product, it becomes much easier to pivot your product roadmap based on customer requirements. Mobile App Founders can modify their product roadmap or change it completely to ensure that the users get the product they need based on the actual data that is gathered with the MVP.

ROI-Driven Investment

The development of a full-fledged mobile app can take several months. In some cases, it might take a year or more. The cost of such a development is also very high. The MVP, on the other hand, reduces the upfront cost significantly.

The Benefits of MVP/POC for VC Funding  

Minimum Viable Products (MVPs) and Proof of Concepts (POCs) can enhance your startup’s appeal to venture capitalists and secure crucial funding.

Many promising startups struggle to secure funding. A key strategy to overcome this hurdle lies in demonstrating your product’s potential through a Minimum Viable Product (MVP) or Proof of Concept (POC). But what exactly are the benefits of MVP/POC for VC funding, and why do they matter so much?

Building Investor Confidence with Tangible Results  

One of the primary benefits of MVP/POC for VC funding is that it provides tangible results that investors can evaluate. VCs are more likely to invest in a startup that has a working prototype or a validated concept rather than just an idea on paper. An MVP or POC shows that you have already taken significant steps toward building your product and have a clear understanding of the market demand.

Demonstrating Market Validation  

Market validation is a crucial factor in securing VC funding. By launching an MVP, you can collect real-world data on user engagement, preferences, and pain points. This data serves as proof that there is a demand for your product, which is exactly what VCs want to see. Market validation reduces the perceived risk for investors, making your startup a more attractive investment opportunity.

Accelerating Time to Market  

Speed is essential in the startup world, and an MVP allows you to get your product to market faster. By launching an MVP, you can begin generating revenue, building your customer base, and establishing your brand presence while continuing to develop your product. This not only provides early cash flow but also positions you ahead of competitors who may still be in the development phase.

Enabling Early Feedback and Iteration  

One of the most valuable aspects of launching an MVP is the feedback loop it creates. Early users provide critical insights that help you refine your product and ensure it meets market needs. This iterative process allows you to make data-driven decisions, which can significantly improve your product’s success. When pitching to VCs, you can showcase how you’ve used feedback to enhance your product, demonstrating your commitment to building a product that truly resonates with users.

Showcasing Commitment and Capability  

Developing an MVP or POC requires time, effort, and resources. By presenting these to VCs, you are showcasing your commitment to your vision and your capability to execute. This proactive approach can set you apart from other startups that may still be in the ideation stage. Investors are more likely to back founders who have already invested in proving their concept.

You’ve launched your MVP Mobile App. What Next?

Continue Development and Perk Up

If your MVP App plan goes well then continue working on launching incremental updates. Make improvements and add new features as demanded by the users.

Make Amendments

If your MVP Mobile App fails to get the attention you had hoped for, then try some amendments. You can tweak the existing features or pivot to something new quickly and launch a newer version of your app.

End The Project

If your MVP Mobile App doesn’t stand true to the hypothesis multiple times, it might be the right time to dump the project and think of a new idea. Remember the whole idea of the MVP is to test and fail fast.

MVP mobile apps are an excellent way for startups to validate ideas and assess risks quickly with minimal time and cost, compared to full-scale product development. Opting for a Minimum Viable Product (MVP) helps you avoid failures when launching a fully-featured product. This approach allows you to gather user insights through a basic app without significant investment. All you need to do is define your business hypothesis, identify key features, and partner with a reliable mobile app development company for your project.

MVP mobile apps are an excellent way for startups to validate ideas and assess risks quickly with minimal time and cost, compared to full-scale product development. Opting for a Minimum Viable Product (MVP) helps you avoid failures when launching a fully-featured product. This approach allows you to gather user insights through a basic app without significant investment. All you need to do is define your business hypothesis, identify key features, and partner with a reliable mobile app development company for your project.

It is the most appropriate alternative to save money and time as well. Hence, build an MVP for your startup and gear up to achieve huge business success.

For over three years, Nerdbug has successfully launched numerous apps and SaaS platforms for entrepreneurs and early-stage startups, helping them generate hundreds of millions of dollars in revenue. If you have an app idea but aren’t sure where to begin, we’re here to help. Reach out to us here.