MVP: a Minimum Viable Product as a testing tool for startups

If you are in the early stages of your beginning and you don’t know exactly how your product will be received or whether it will have a place in the market, it’s a good alternative to invest in Minimum Viable Product or MVP (for its acronym in English). However, what is it about? An MVP is a previous version of the product or service used to test a company’s business model. The concept was developed and popularized by writer and consultant Eric Ries in one of the most widely used books by entrepreneurs beginningcalled Lean startupin which he presents an agile and clear concept of the entrepreneurial process.

It’s important not to misunderstand the concept of MVP. It should not be confused with a version of the product with reduced features only to be delivered quickly. Don’t think it’s cheap either: an MVP isn’t just minimal, it has to be viable. It should be noted that in order to have this property, the product must be of high quality, which may cost time or money.

MVP features

An MVP must own some features who define it as such. Between them:

• quality enough for people to start using it.
• demonstrate sufficiently Use caused by the product in order to maintain the loyalty of first-time users.
• Give the development of a return able to guide the entrepreneur in the development and future improvement of this product.

How do you present your MVP?

If you’ve been thinking about an MVP product for a few months and managed to build it, but now you don’t know how to present it, there are some alternatives that can make your life easier. Meet three:

• Make a video go viral: Given the speed of information, betting on a video might be the best alternative right now. With a creative idea, you can make your product go viral and, in some cases, get a much wider reach than you originally planned.
• Slide presentation: However, it may seem simple marketing and the market launch of a product itself do not necessarily have to coincide. You can only demonstrate your suggestion without anything practical. After the idea is approved, move on to the next phase.
• Create a prototype: This is one of the more traditional forms of MVP. It works great if you beginning it refers to e-commerce, for example.

Types of MVPs

There are two most common types of MVP. Know what they are and what are the differences between the two:

• Low Fidelity (Lo-Fi) MVP: This type of Minimum Viable Product takes some getting used to to confirm Basic and initial premises of a company such as B. knowing if people would pay a certain value or if it has an ideal format among other things. Its format is simpler than that of an MVP Hi-Fi (it can be slide or video for example)
• High Fidelity (HiFi) MVP: A High-Fidelity Minimum Viable Product typically includes a value propositioneven if it only represents core functions of the project.