MVP Development Company

Approximately 10% of new businesses do not survive the first year, while 90% collapse within the first ten years. Creating a Minimum Viable Product (MVP) could have avoided most losses in the initial stages. This popular product development solution helps verify the value of the unique idea and adapt it to market needs.

Consider how to meet your future customers’ needs and mitigate potential risks. Make up your story, and then explain what makes it stand out. What is the value offered, and what problem are you solving?

At DICEUS, we have sufficient competence to deliver high-quality MVP software development services. We build our work based on your business goals, carefully prioritizing and giving you an effective solution to reveal your project’s potential. Our customizable, low-code approach can reduce the time and money required for launching MVP products that best satisfy your overall business goals.

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MVP development explained

A Minimum Viable Product (MVP) is a basic version of the product with the core features brought into the market to check its relevance and collect feedback for improvement. You can create an MVP and test a few features, such as the landing page from a website. The collected feedback influences further incorporating those features and guides the whole project. Imagine that no one likes the landing page, so there is no sense to continue designing the rest of the website in the current concept.

The MVP meaning in software development applies to mobile, web, and desktop applications with key functionalities that meet customer needs. A light software version plays a strategic role in defining the project’s success. Here are the main reasons to develop and release an MVP:

Test an idea using minimal resources
Release a product as quickly as possible
Maximize the information learned
Reduce the time required for the project realization
Learn what resonates with the target market and what does not

Many well-known companies start with MVPs. It is an experiment to the viability of their proposal from a business perspective, at a lower cost, and with managed risk. You might be surprised to know that Airbnb’s first landing page did not allow you to make online payments. Every time customers found a place to stay, they exchanged money with the host in person. It eventually became a real problem, so the necessary amendments had to be made.

The difference between MVP, POC, and prototype

People often mix up these terms by assigning the qualities of one to another. Make sure you know their meanings:

Proof of concept

POC is a project idea at the pre-product stage. A tech team assesses the technical side of the potential product to save time on something attainable. In other words, they aim to verify that a business idea can be turned into reality from a technical perspective.

Prototype

The prototype represents a potential product highlighting major user flows and software layouts. It usually has clickable, but not necessarily functional, screens to demonstrate how users will navigate the interface. The perfect prototype should be of Goldilocks quality that is not too high or low — but just right. Once ready, it can be presented to investors at the pitch meeting.

Minimum Viable Product

MVP is a fully functional product ready to be brought to the market. Do people want the product? Are they willing to pay for it? You can authenticate a business idea based on user feedback by answering these questions.

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Steps to develop an MVP

A poor understanding of the MVP software development process could potentially harm the project. Below are described the standard steps we at DICEUS take to build an MVP successfully.

Carry out the discovery phase The best way to bring a good idea for a product is to find a problem it will solve. Why should your product exist? What makes it valuable? Our team, consisting of business analysts, technical specialists, and designers, may take up to four weeks to clarify your vision and goals, research the current market, estimate the scope, and identify risks. They will analyze the current competition to determine what works best. You will eventually understand your future product and how it will perform on the market.

Make up the list of basic features Now is the time to think about what your Minimum Viable Product software will look like. Remember that you do not need to incorporate everything you want to see in the final product. You only add the features that the software requires to answer fundamental questions, such as: “Does the solution solve a real problem?” “Is the problem important for people?” and “What benefits does it offer?” The vision you develop will be improved at the latter stages of the software development process.

Map out user flow and design the MVP You need to predict the user experience with the product and help them interact with the MVP effectively. UX/UI designers create an information architecture or a user flow map to let you analyze whether your interface is intuitive enough for clients and how they reach the necessary information. Regular meetings can help you monitor the design process and give immediate feedback.

Proceed with MVP development The MVP software development stage is where the strategic plans and visual designs are transformed into functional code. Our engineers decide on your project’s most beneficial tech stack and work with tech engineers to ensure seamless software performance, stability, and testability. We enhance the quality since defects are found and fixed immediately.
No-code MVP development suits a startup MVP or an ambitious SaaS MVP. Code-based development includes single-feature MVP and piecemeal MVP that require more time for processing. There is no general rule on how much development can last, as it usually depends on the project’s complexity. The simplest MVP programming tasks can be completed in a few days, while more intricate projects can sometimes take several months.

Do MVP testing and launchEvery MVP undergoes various manual and automated tests to validate its performance, compliance with requirements, device compatibility, etc. Testers prepare documentation certifying the product quality before the final launch. The creative team also makes release notes highlighting the key information for end-users. Finally, the MVP is submitted to the specific platform, with our engineers monitoring its proper launch. When the product is used, you can start gaining and analyzing data.

Keep track of performance and collect feedback Once you have a ready-made product, the next step is to test it with the target audience. The goal is to have enough customers to use the product and give you feedback. Developers will refer back to real-time metrics outlined in the main plan and track the app’s progress regarding the percentage of active users, number of paying users, engagement levels, client acquisition costs, app store ratings and reviews, etc. Qualitative feedback in the form of reviews highlights the main areas of improvement. Valuable insights will help you optimize the final product.

Use feedback to improve the product When users give feedback about the product, you must implement it into the software MVP efficiently. If the feedback is positive, you can determine other features to add to your product based on the information received. You may not be able to resolve all the issues at once. Instead, you can focus on the most pressing issues that affect the user’s experience with the product here and now. Based on feedback, it might be necessary to remove some features that do not have any real value for consumers.

Benefits of MVP development

The MVP benefits are closely associated with the main purpose it serves, as well as its main goals and features. We will review some of them in detail:

Possibility to attract investors

Releasing MVP software strengthens your approach to potential investors. The chances of raising funding with a working MVP are much higher than with a concept detached from any action. Once you get feedback from real users, you can prove that your idea works for stakeholders and investors at the pitch meeting.

Reduced engineering hours

MVP software development minimizes the workload. It protects you from doing a large piece of work and then realizing that you must rebuild many components and features. You receive feedback fast, so you can work on the improvement immediately and release an upgraded version quickly. You release the product quickly, which makes the whole project move forward.

Testing product ideas

No matter how smart your business idea might seem, you must do in-depth market research to understand its relevance. MVP development can collect hands-on feedback from the target audience and eventually eliminate the functions that prove to be unnecessary, fix the bugs, or integrate new features. Detailed analysis of your product based on customer experience allows you to implement updates smoothly and bring the release closer.

Cost-efficiency

Investing all the money into a full-fledged product without doing any market research involves huge risks. Instead, you can create an MVP, gain feedback from the target audience, and distribute the funds most reasonably. A lot of startups have collapsed due to inefficient financial planning. MVPs allow you to validate your idea before spending your money on things without value. This way, you minimize risks and optimize the creative process.

Why choose DICEUS as your MVP development provider

Being a leading software development company, the team of DICEUS can validate your business idea and transform it into a tangible and viable product. Our expertise allows us to integrate the best practices and minimize pitfalls associated with your niche. Have an idea? Contact our consulting services. We will help you pick the most feasible features.

Make quick changes. If you want to integrate some new features along the way or the requirements of your app have to change regularly, we will do our best to accommodate. We have many methods to handle the most challenging tasks.

Monitor the development process. We allow you to keep track of the project’s progress. If you have any thoughts on improving the product, just let us know — we will make the necessary changes.

Release your product in the shortest time. We usually need around four months to release MVPs. Depending on the project’s complexity, we may take less or more time to bring a ready-made product to the market.

Get software development that meets your business needs. Whether you have an education app or an admin panel? With a sizable portfolio of successful projects, we can find an MVP developer with the relevant expertise in your niche.

Factors affecting the cost of MVP development services

As you might have guessed, many aspects influence the cost of MVP development. When you know exactly what you want to build, you hire developers to realize it. Several factors can affect the overall startup MVP development cost:

Design scope. UX/UI designers work on wireframes, user flows, and the end-product look. This step can take much time on MVP design alterations, influencing the MVP development cost.
Technology stack. The more complicated your solution will be regarding tech, the more resources you will need for its development and further release. Therefore, the tech stack you implement for the project will also influence the MVP cost.
Some features. You can make up a long list of features, some of which can be eliminated at the MVP stage. The MVP cost can grow if you integrate many of them, especially if they are complex and require a lot of time and skill for incorporation.
Experience and location of specialists. Even the hiring model can’t answer how much you must invest. The more experience the specialists have, the higher their rates are. Their location also plays a significant role in influencing the rate.
Third-party integrations. Many projects require additional tools, extensions, and plugins. The third-party integration costs for an MVP project can drastically differ based on the specified solutions, their quantity, etc.
Deadlines. The shorter the deadline, the more workforce will be required. As the team of specialists grows, so does the price.

Factors affecting the duration of the project

MVP coding, testing, and management increase the scope of work and, eventually, the duration. In other words, the duration of development equals the time spent by our engineers. Let’s find out what factors significantly impact the project duration.

Size of the development team
Project complexity
Set of technologies
Number of features, etc.

Generally, building an MVP for a startup can take 3 to 6 months. The main goal of an MVP is to make a quick launch and test the product with users to gain insights for future development.

FAQ

What is MVP development?

An MVP in software development is a basic product with sufficient features to satisfy early customers and receive feedback for further development. It is created to achieve the market fit at the early stage.

How does Minimum Viable Product (MVP) development work?

An MVP comes up with minimal features to be used by first customers, who can then provide feedback for future product improvement. It allows a team to gain validated customer needs and preferences information.

Why is MVP development important for startups?

Startups can gain valuable user feedback, explore market demand, and make informed decisions about further development. This iterative approach helps startups reduce risks, optimize resources, and enhance their chances of creating an effective product.

What are the key benefits of using MVP in product development?

Companies can attract investors, reduce engineering hours, test ideas, and invest all the money into implementing a valuable product.