Why do you need an MVP?

Whether you're thinking of a new mobile app, want to modernise an old version of a digital product or have decided to change the software settings of your hardware, the best way to test ideas is with an MVP.

A Minimum Viable Product (MVP) is a ready-to-launch solution that can be easily tested using the most simplified software possible. MVP allows you to realise your vision with minimal risks. The main function of MVP is to collect information and valuable data as a result of actual user interaction. What should the customer know and require from the executors when developing MVP? This is what Emat EOOD Bulgaria developers have learnt.

Preparation and Terms of Reference
What functionality and assumptions need to be tested? Will the final product be successful on the market and interesting to users? These are the main questions that must be answered by the MVP to be developed. The more data the IT company receives from the customer, the higher the chances of success. Work on the project starts with visual identity, schematics, drawings, models, wireframes, screens.

At the preparation stage, based on the budget, the customer must decide which MVP will be used: a one-time MVP that will stop functioning when scaled up, or a platform that can be expanded in the future by adding additional functions.

Design and functionality
These are the two main aspects of MVP development. What is important in the product being developed? What will the user interface look like? How much space will navigation, customisable gestures, buttons and transitions have in the development? Everything beautiful and functional is not cheap. Take this into account, experts of Emat EOOD it company recommend.

Code minimisation, deferred loading or automatic unloading of background processes help to reduce the size of the software product and increase its productivity.

Launch and feedback
In general, MVP development can take anywhere from 2 to 6 months. Even the most comprehensive and high-quality market research is based on assumptions and generalisations. Feedback from real users is concrete, and it is easier to make adjustments, add and build new functionality based on it. Testing the product at the initial stage guarantees that the result will meet user expectations.

How much does an MVP cost?
The cost of developing an MVP with initial size optimisation can vary depending on complexity: from a few hundred dollars for a simple application to several thousand dollars for a more complex one. Hourly rate is the basis of any MVP cost calculations.

The more technically complex the solution, the more resources will be needed for development. Opting for certain frameworks or programming languages can significantly increase the price of the final product. Launching an MVP includes testing it in the environment of the target audience and collecting feedback. The costs of these processes should also be considered in advance.

MVP: development of customised solutions
In order for an MVP to solve the set tasks, be functional and bring profit, it is necessary for the development company to be fully immersed in the customer's business system from the first steps of development. Emat EOOD creates MVPs for: iOS (Objective-C/Swift platforms) and Android (Java/Kotlin platforms). The software customer can control the entire development process. After launching the MVP, Emat programmers test the product, its key features, integrating Validated Learning processes, testing hypotheses and assumptions.

Advantages of using MVPs
Savings: developing an MVP is many times cheaper
Often requires less time and resources to create an MVP because it focuses only on key features.

Reduces business risk
Launching an MVP allows you to quickly test the viability and market demand for the product, which reduces the risk of financial loss in case of failure.

Facilitates market entry
With a rapid MVP deployment, a company can get to market and start attracting users faster than with full product development.

Provides feedback from target users
Launching an MVP allows you to get feedback from real users, which helps you improve the product, address market needs, and make adjustments.

Requires less investment
Since MVP focuses on core features, it does not require a large investment at the initial stage, making the project more affordable for startups and companies with limited budgets.