You have a kickass mobile app idea and cannot wait to have it developed? Hold on to that thought for a bit.

So, the vision is clear, the ambition is high, and the drive to succeed is there too. But going all in on a product without testing the market can be a costly mistake. To test the potential of your app and its chances of success – you need an MPV, aka Minimum Viable Product.

An MVP is a stripped-down version of a product that includes only its core functionalities. It is not a half-cooked product or an app that barely works kind of situation. It is a fully-functional mobile app with just enough features – hence called minimum viable.

It is designed to solve a specific problem or fulfil a particular need while allowing businesses to test their assumptions, gather feedback, and make changes if needed. Launching an MVP before diving headfirst into full-scale product development can save you from major blunders and failures.

I’m not sure if you really need to take the longer route by launching an MVP first.

Let’s talk about why it is crucial.

Validate market demand early

One of the greatest risks of building a fully featured product without an MVP is investing significant resources in something the market might not need or want.

An MVP allows businesses to gauge interest, test hypotheses, and assess customer reactions to core features. It ensures that before you spend millions, you are confident the problem you are solving is real and that people are willing to pay for it.

And most major companies started like that. Dropbox began as an MVP with a simple explainer video and basic file-sharing functionality. By launching the MVP, Dropbox could test whether people would find value in their product without building out the complete suite of features. The result? An overwhelming response, proving market demand, and validating further investment.

Reduce development costs

Building a full-scale product requires substantial capital and higher risks. You can minimise upfront costs with an MVP. Instead of building every potential feature, focus on developing the essentials, saving on resources and time. The feedback gathered during this phase will guide further development, preventing the risk of a full failure.

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Even Zappos, now a multi-billion-dollar company, began as an MVP where founder Nick Swinmurn tested demand for online shoe shopping by posting pictures of shoes from local stores. He didn’t build the full inventory or logistics system before validating that people were interested in buying shoes online.

Launch sooner

An MVP enables companies to get to market faster, avoiding delays caused by trying to perfect the product. And first-mover advantage can be crucial. An MVP can help secure that position. Launching quickly also provides the opportunity to adjust to market changes, pivot if necessary, and stay ahead of competitors.

Just like Airbnb started with just a simple website to rent out air mattresses in the founders’ apartment during a conference, tested out stuff, and soon turned into a global marketplace for short-term rentals.

Mitigate risks

Launching an MVP helps businesses mitigate the risk of failure. By building and testing, companies can adapt and iterate based on real data. This helps improve the product and reduces the likelihood of investing too much in a direction that may not work.

Having an MVP in the market gives you the space to identify opportunities and challenges, minimise risks, and ensure you launch a product that your audience would love!

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