Why MVP development is key in software projects

If we were to translate MVP literally, we would get "minimum viable product/service." It is a product that, although simpler in structure, possesses the minimum functionality that makes it launchable to the potential target audience. The emphasis here is on speed, testability, and further developability.

A startup cannot afford to bring a fully developed digital product to market on a tight budget, which, on the one hand, may not necessarily be successful, and on the other hand, it would have to wait long months for the software to be completed. The success of the business largely depends on its speed: it must respond to a current customer need as quickly and efficiently as possible before competitors can catch up.

Moreover, it is also crucial that the product meets real customer needs. If it turns out right at the start that there is no interest in the digital solution, the company will not only forgo further capital investment but will also have no chance to modify or perfect its product. Developing a fully developed product would likely deplete its reserves.

However, MVP development for startups is not only advantageous for startups. A large company that wants to develop with the agility typical of startups and quickly launch a new web or mobile application capable of generating revenue should also consider this route.

The MVP development approach allows a startup or larger company to quickly create a basic prototype of a new web or mobile application that already offers solutions to potential users' problems.

A shorter development cycle means that businesses can enter the market faster with an MVP than their competitors. This gives them enough time to create a market niche and establish a brand reputation. Thus, they can acquire their first customers, start generating revenue faster, and further perfect the product based on feedback. Facebook, Dropbox, Airbnb, Uber, and even the iPhone are excellent examples of where starting with an MVP can lead.

The MVP is an important tool for analyzing potential users' feedback. Based on this, the business can start making modifications and developing additional features that were perhaps not initially considered. This further helps in creating a digital product tailored to user needs, ensuring that future developments represent added value for customers.

One of the most significant advantages of introducing an MVP is the opportunity to minimize risk. A failed product launch wastes time, money, and resources for the business and may even seal its future: potential investors and customers may already view the company unfavourably.

With an MVP, the company can "test" the targeted customer base and make quick adjustments based on feedback before investing significant amounts in software development or marketing.

An MVP development solution can be produced with a smaller budget than a "full-fledged" digital application. If it does not meet expectations, the business can terminate the project before incurring significant losses.

The MVP development company allows companies to focus on core functions. It forces them to prioritize essential aspects from the outset: instead of developing every potential feature, they start with only the most important ones.

What matters is not how much a product can do, but that its core structure, "core functions," and user experience are adequate to ensure long-term customer satisfaction.

Since the MVP software development can be brought to market, there is a chance to attract additional investors for the project and further develop the product.

The business needs to identify the "core features," the basic functions that solve the problems of the potential user base. This requires a willingness to compromise, prioritize functions, and maintain flexibility.

For the development of a new digital product, LogiNet offers MVP development services that include Service Design validation methods, needs assessment, and system design, assisting businesses. As the first step in the software development process, companies can formulate their business concept for creating a digital product or validate a pre-prepared concept with user tests, interviews, and analyses. Our IT consultants and system designers help determine the minimally necessary MVP functions (MVP scope) and the functions to be included in the backlog.

This process takes 4-6 weeks but provides a solid foundation for the company's MVP development to be ready within 12 weeks.

During this 12-week implementation phase, the basic functions of the new, unique digital application and the necessary integrations are developed. At LogiNet, UX/UI designers, developers, IT consultants, project managers, and testers participate in this phase of the project. Strong client-side dedication is also needed for a faster launch.

After the launch, our support team handles the maintenance, operation, and further development of the already completed MVP application with functions in the backlog or new requirements.

Get to know LogiNet's projects where we performed MVP development services for startups.