IS MVP A GOOD CHOICE FOR MY IDEA?
MVP – MINIMUM VIABLE PROJECTS
MVP isn’t a code word representing a preliminary and unfinished sketch or version of a product of little value. It’s a highly refined and functional blueprint of your application with limited performance and with as much flexibility as possible for future development. Typically a cost of its making is estimated at relatively less figure than the actual cost of fully functional version of application, though it can come on the market prematurely. MVP not only provides you the opportunity to understand whether your developer is quick in grasping your idea in accordance with specification and instructions accompanying a product, but also brings you many more benefits connected with the development process.
WHY CREATING MVP IS BENEFICIAL?
Starting MVP is based on a fairly good reason, when the outlined idea is really peachy keen or when it’s rather elaborate there do not appear to be sufficient reasons for having some of its functional capabilities and advanced features. Such solution brings even more benefits and advantages. It reduces chances that the very same idea would ever occur to someone else with original and unique designs. Now's the time for MVP that offers you the chance to bench-test your applications to compete to be first on the market, and then begin to develop it further for material result without thinking that you’ll spend your money in a wasteful way just because when you’ve brought your project up to scratch, someone unfolded the same thing.
While speaking about improvement of your application, using well-tried MVP tactic you can verify, whether your application will receive any proper attention. The practice is premised on the expectation that the clients will be willing to accept your application in advance, then you can base your conclusions on that knowledge and weigh up your next move.
Final version of your product is usually produced at even higher price, these unanticipated needs are one-time expenses for which funding is not specifically budgeted, so it can be funded by revenue from placing your MVP on market. As a result large budget allocations estimated for project at the start aren’t as scary as they were supposed to be so MVP development saves you a heap of time and money.
HOW MUCH DOES IT COSTS TO BUILD MVP?
The production price of MVP is just about 30% of finance required to distribute a complete version of application with all intended operational functionalities. Obviously this magnitude changes from project to project. Keeping that in mind, creating MVP might be considered to have an opposite effect, despite the fact that it can save a whole lot of trouble by approximating if it turns out that our project isn’t as good as we expected investing more money in it would be the act of wasting it for good. But let us resolve to look at the bright side of things! If our application achieves a high position due to MVP, we can invest our funds more appropriately knowing what is worth to invest in.
TIME AND MONEY ARE VALUABLE RESOURCES
The time spent on creation of MVP is normally 40% of time required to create a fully functional application. It’s all a matter of a project, but our experience records suggest that this approximation is almost always valid. We stay within the same rules: either we don’t waste time doing unnecessary projects and stuff, or we can improve it any.
However every now and then it’s not as distressing as it might sound at the first sight. One example is, integration with Facebook and other social media. Perhaps, it would be even better to include this useful functionality when our application reaches more users. No doubt, it’s best that you have 4 payment methods, but maybe for starters 2 would be a sufficient amount?
Design is most important, especially when we talk about convenience and enjoyment of using our application. Wonderful animations, distinct graphic effects it all is pleasing to the eye, and is designed to attract attention, stick in memory, but it also requires a lot of time and effort. We can choose to ignore it in our MVP, providing crude design and instead of progressing or developing smoothly from one stage to the next in a logical way, we just get our users by surprise in the next stage of project.