Approaching an MVP Development Process Effectively

Maria Boyarko

Maria Boyarko

Head of BA at Andersen

Business Analysis
Jul 12, 2022
11 minutes to read
views
  1. How to build an MVP? Let’s begin with a definition
  2. Rationales behind launching an MVP development process
  3. More detailed purposes behind the steps to build an MVP
  4. MVP development stages in the first approximation
  5. Impediments to development efforts
  6. Wrapping up

Assume you, as a business-minded person, have generated a seemingly promising and lucrative idea. If you’re serious about capitalizing on it, in the capacity of an entrepreneur, you will start asking yourself subsequent qualifying questions. The most self-evident ones include:

  • Does a real-world market need exist for a product based on my idea?
  • Who is my target audience?
  • What is its crucial functionality that will cover their previously unmet need in the unique market niche?

The information arising from these queries must be determined before the full-fledged development stage commences, since they lay a foundation for crafting a successful solution that is relevant, necessary for future end-users, and scalable enough. That is why we at Andersen have decided to re-examine the value of an MVP development process. As a trusted and highly ranked vendor of MVP development services, our talent has accumulated extensive multi-faceted experience in this domain, in all involved processes and stages.

So, here is our brief MVP guide.

How to Design an MVP (img 1)

How to build an MVP? Let’s begin with a definition

Statistics are unequivocal. As many as 90% of all startups eventually fail. Each business story is unique. Efforts made by young aspiring teams get undermined by different constellations of factors, at varying stages. Yet, researchers still have some dependable data to analyze. Per CB Insights, having a flawed business idea, in one way or another, is responsible for the following discouraging situations:

  • No market need at all (35%);
  • Getting outcompeted by similar yet better prepared projects (20%);
  • Unworkable business model (19%);
  • Wrong moment to launch a product (10%).

All these causes have something in common. Properly and timely taken MVP steps could prevent them.

Any MVP, aka a minimum viable product, is the inceptive version of a digital tool with a vital core feature that suffices to operate in the market and deliver real value to its users. MVPs might have no polished UI, may have no localized versions for all needed regions, no gold plating, no extra functions, or other minor attributes. However, if all relevant development stages and processes are considered while engineering an MVP, the latter can do one major thing. It can