Venture capitals are no longer giving investments for just an idea. You have to prove that you put your skin in the game and have made your first product steps.
Initial customer research is hardly enough to risk with the whole project budget. Test idea with MVP and get valuable feedback - that’s important.
There is no sense to make a fully working product until you’re sure that all the features are technically possible. Test Scalability, 3rd party integrations and algorithm realization first.
We believe that time to market is an important thing for any MVP. That’s why we limit the production timeline of any product to 3 months and $30000 as a budget limit. Within that budget, you can achieve a value bringing a product that your users can start paying for.
To build a solid product, you need to get it prototyped, designed, developed and tested. To cover all these stages, it will take you about 3 months.
So, yes, you need 3 months to build MVP. However, it’s hardly possible to claim something like ‘3 months to spend on MVP development,
and I’ll be done with it’. In fact, you’ll never become ‘done’ - because product building is never a destination but an ongoing process.
Firstly, there’s no need to spend years on MVP development. Time to market matters, so you should validate the idea within the shortest possible time.
From our experience, the 3-month time frame is perfect to build MVP. Within this time, it’s possible to get a high-quality product that brings real value
to users and looks convincing enough to turn them into paying customers or be proposed to investors.
Unlike prototypes, MVP is a functional product, not just a set of paper-based sketches. It somehow works (not the same as poor execution, though)
and already brings real value to end users. It is meant to be your ‘true’ starting point, so you can use it to start tracking purchase intent (how many users
will turn into customers) or get funded.
Whether or not you wanna get started with MVP, idea validation must be the top priority.
You can pawn your house and get the money needed to build a complete product. Another scenario would be to take small steps (not giant leaps)
and test things out with something very small. In both cases, it might turn out that the idea isn’t worth pursuing - the difference is that in the second case
you won’t end up being a homeless entrepreneur :)
We firmly believe that the MVP development path is like “Get started with something very quick and simple → test → improve → repeat”
You’re likely to know that MVP development is an ongoing process of improving, right? It means that once you’ve got your MVP designed, developed
and tested, you’re not done - in businesses, it’s hardly possible to ever become ‘done’. So, share your ‘done’ MVP with the market and ask for opinions
- because the only way to arrive at the ‘Truly Viable Product’ stage is when all the tweaks are feedback-based (not imagination-based).
No fancy documentation or white papers needed. It’s good if you have such, but to initiate the process a simple interview is enough. We’ll ask the questions about your idea and document it in a proper way.
Go write to us at [email protected] to schedule a call.
Our strength areas are UI/UX, development, QA and management. Not marketing. Bringing you ‘average’ results isn’t what we strive for,
so you’d better find true marketing experts for that purpose.
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