min read ·
May 14, 2021

A Guide to Creating a Minimum Viable Product

When inspiration strikes and you develop a unique and interesting product, you'll feel an urge to put it out there. However, it's not that easy — bringing a product to the market can be tricky and risky. But to reduce the risk, a great step to take is to develop a minimum viable product or MVP. 

Diagram exemplifying what an MVP is in a value and features pyramid

MVP is a product that is a single important service which is its core functionality. Once the product is out in the market, you can test its efficiency from real users, learn from them, and find ways to continually improve and develop the product. 

Software and mobile applications fall under this type of product, and to ensure that it performs well and functions the way it should, it's best to work with skilled professionals. Custom software development companies specialise in developing digital platforms that help businesses reach their full potential and market value. To reduce the risk, it's best to work with companies like Fabric Group to ensure a quality MVP.

Now that you have an idea of what an MVP is, let's run through the steps on how to build one:

Step #1: Know the Problem of Your Market and How to Solve It

The first and probably most crucial step of building an MVP is assessing your business idea. To do this, you need to ask yourself and the team simple but hefty questions, such as what is the market's problem? What do they need? How can I help?

When designing a product, you need to keep in mind that your target market should choose your product because it will solve their problem. You need to know why they should use your products and if it could solve their current issues. 

Step #2: Know Your Competitors

It's important that, when you're developing a business idea, you evaluate the current state of your industry, meaning you need to analyse your competitors. 

When you evaluate your competitors, ensure that you note all their strengths and weaknesses, what their product is missing out on, what you could do better, and how you can convince your target market to choose your product instead of your competitors. 

Step #3: Have a Clear User Flow

Now that you have the meat of your product, all you need to do now is polish your user flow to ensure a quality experience. Ideally, you want to ensure that the steps are simple. 

For example, Airbnb offers to rent properties for people worldwide, and their flow is quite simple. The user just needs to type their location, renting dates, find the perfect property, and book it! 

Step #4: List Down All Necessary Features

Customer experience is significant as it can make or break a sale. As soon as you define your user flow, it's time for you to create a list of features that will help users navigate their way through each step. 

Remember, you want to ensure that you only put down features that are needed and set aside "nice-to-have" features for the future. Ideally, you want to work with custom software development companies because they'll know how to prioritise the most valuable features to incorporate into your MVP. 

The Bottom Line: You Can Change the Game of MVPs by Sticking to Your Primary Goal

A truly successful minimum viable product does exactly what it's meant to do. This is why it's crucial to go through each step of the building process with much thought and research to produce a product that could provide users with what they need.  

Working with a custom software development company is a smart move, so you can build a product that's so simple but hits all the targets. If you have an idea and want to manifest it into reality, follow each step and create an MVP that will take the digital world by storm.

Why Work with Fabric Group?

If you're looking for a custom software development company, look no further — Fabric Group is here to help you. 

Our team of experts combine innovative principles in analysis, quality automation, design, and development to produce high-quality digital platforms that generate maximum business value. 

Learn more about how we can help you today!


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