The MVP (Minimum Viable Product) concept is a basic version of a product that includes the most necessary and useful features. This way, you can quickly create a working product for the first users with minimal costs and risks.
The principles of MVP are applicable in any industry, but they have gained great popularity in the field of technology startups and in the development of digital products. Today, the minimum viable product is actively used by the creators of mobile applications, web services, IoT solutions and AI systems.
In this article, we'll look at what an MVP is and what makes a product viable. We will provide examples that will show how simple ideas become successful.
The Minimum Viable Product (MVP) is the simplest but working version of the application. It has only basic functions that help the user solve the main task.
Many people confuse the MVP with the prototype, but these are different things. A prototype is a draft of a product that is used internally. He helps the team visualize the idea and think about how to develop the project further. The MVP is a ready-to-use product. Despite the minimal functionality, it is fully functional and can exist as an independent solution.
The main purpose of MVP is to enter the real market for:
1. Demand testing
2. Collecting feedback from users
3. Determining the directions of further development
4. Testing business hypotheses
The product's MVP helps you quickly understand if users need this solution. As a result, you can change the app's development plans based on the actual needs of the audience.
Let's give an example of a popular social network — Instagram (banned in Russia, owned by Meta). The first version of this application contained only the basic photo sharing function, and such popular tools as Stories or IGTV appeared much later, when the basic idea had already proved its viability in the market.
Our team of experienced developers creates a turnkey MVP, starting with verifying the viability of the idea and ending with scaling the project. Such a partnership is important for projects without their own technical team, when it is necessary to create the first version of the product quickly and with minimal risks.
The very term "minimally viable product" has two principles:
To successfully develop an MVP, you need to follow a simple plan:
1. Market research. Identify vacant niches, find competitors and their weaknesses.
2. Evaluation of the idea. How is the developed product unique? What is his audience? What are the advantages and opportunities?
3. Application functions. Listing all the possibilities and highlighting the most important things to get started.
In this way, it is possible to create a viable product that will meet the real needs of the market and have the potential for further development.
If you go deeper into the Amazon example, then their journey began with the simple sale of supported textbooks for students. The solution allowed the company to test its business model, gain its first customers, and gradually expand. Amazon has grown into a global e-commerce giant with billions of dollars in turnover and a huge range of products.
Such a story demonstrates how a well-chosen MVP product can become the foundation for creating a large-scale and successful business.
To create a product that the audience will like, you need to focus on the most important functionality and benefits for the end user.
Let's analyze the stages of creating an MVP using the example of Yandex.Taxi (now Yandex Go), one of the most successful Russian startups.
Identifying customer issues
We identify a specific problem for the target audience, confirm its existence with research, and evaluate people's willingness to pay for a solution.
The Yandex service.Taxi in 2011 solved the problems of long taxi waits, opaque pricing, and unsafe rides.
Competitive environment analysis
The study of existing solutions, their strengths and weaknesses, the search for a free niche.
Yandex's main competitors.Taxis at the start had traditional dispatch services. The main focus on functions is the use of geolocation technologies, automatic distribution of orders, and integration with Yandex maps to accurately calculate the route and cost.
Interface development and programming
At the interface development stage, the product gets its final form: a logical user path is created, convenient navigation and a visually appealing design that helps solve key user tasks.
The technical implementation includes the work of experienced developers, the use of cross-platform technologies, regular testing and the release of a stable version of the product, ready for scaling and further development.
The first version of Yandex.Taxi:
1. There are only 1000 cars in Moscow
2. Order via the app, cost calculation, machine tracking
3. Metrics: machine pick-up time, number of successful orders, customer reviews.
MVP Testing
Creating a simple version of the product with a minimal set of features and testing the software on real users.
Preparing for the release
Identify success metrics, prepare the infrastructure for scaling, and develop a plan to attract first-time users.
The Yandex strategy.Taxi:
1. Partnership with taxi companies, driver training system
2. User engagement: integration with Yandex.With cards, promo codes for the first trips
Iterative development
Constantly collecting feedback and improving the product based on it.
Scaling Yandex.Taxi:
1. Adding new features: driver rating, different car classes
2. Geographical expansion: access to the regions
3. Ecosystem development: integration with other Yandex services
When we were working on the AllFinance case, our goal was to create a universal mobile financial management solution. There are many financial services on the market, but it is difficult for users to find and compare the terms of loans, cards, and insurance services. To manage personal finances, budget planning and work with cryptocurrency, you need a convenient platform and an intuitive interface.
We started by identifying the needs of the target audience — users had difficulty controlling expenses and managing their budget. The team has developed an MVP financial application that includes basic functions:
Comparison of terms of loans, cards and insurance
Interactive Financial Planning Calculators
Tools for working with cryptocurrencies
This way, the client quickly entered the market, minimized costs, and tested the MVP project.
We adhere to a clear structure of communication with clients. Our development workflow is completely transparent to you.
Weekly reviews:
At the end of each key stage of the project, we make a presentation:
At the end of each month, we provide:
You will always be aware of the project status and will be able to monitor the work process.
If the product does not solve the user's real problem, it loses its meaning. MVP should offer a useful and effective solution for which users will want to use it.
For example, the Aviasales app has become popular due to its convenient search for cheap flights. Previously, users had to manually check airline websites or contact agencies, wasting time and overpaying for tickets. Aviasales solved this problem by offering an aggregator that analyzes hundreds of options and finds the best deals, saving travelers money and time.
When creating an MVP development project, you need to define the first basic functionality that will show the value of the product. Being overwhelmed by secondary features can make it difficult to perceive and scare away. Having a unique feature (killer feature) will set the product apart from competitors.
Don't neglect UX design, MVP, and design. The interface should help the user achieve their goal quickly: it should be simple, intuitive, and aesthetically pleasing. Convenience is always a priority.
