Putting the V in MVP

If you search for “minimum viable product” on Google, you’ll find no shortage of resources. An MVP is a product with just enough features to satisfy early users and shed light on future product development. Instead of spending 10x the money building every feature, build just enough to get valuable feedback. This ensures you build the right product — the one users actually want, not the one you think they want. Seems easy, right?

Unfortunately, it’s not that straightforward. The question I see many founders get hung up on: where is the line between ‘viable’ and ‘not viable’? This is 100% subjective, but there are a few questions you can ask to help determine where this line exists.

Know Your User

When building an MVP, it helps to focus in on one particular group — your primary user. Focusing on one specific segment helps you learn about their problem and build a valuable solution.

Question: Who is my primary user?

Know the Problem You’re Solving

Founders can get carried away with the grand vision for the app or software they build. It’s helpful to constantly revisit the problem you’re solving to make sure you’re staying on the right track. This might evolve over time as you test your product with users and realize new opportunities. But having a clear focus of the value you’re providing a user is key.

Question: What is the main problem I am solving?

Needs vs. Wants

Every parent has this conversation with their children. Do you need that candy bar or do you want it? The same thing happens when building a tech product. It’s easy to get caught up in the excitement of a product with the bells and whistles. But if it doesn’t provide actual value, all those great features won’t matter. Start with the core functionality and add on special features later.

Questions: Which features are “must have”? Which features are only “nice to have”?

Crowded vs. Untapped Market

When building a software business, you need to consider your competition. Are there major players who have the resources to rip off your idea and push it out to their large user base? If so, ‘minimum viable’ might be a more polished product than you would build in other situations. You’ve got to quickly acquire users and market share. Enough that you are viewed as an actual player. You do this by making a product better than what’s already out there, or by executing your unique idea better than anyone else.

Questions: What does my market look like? Who are the other players?

Budget Constraints

Be realistic about your financial constraints. If you only have $10k for an MVP, don’t expect your app to function like AirBnB overnight. Find creative ways to hack cheap or free technology into your MVP to validate your idea. And whatever you’re budget is for an MVP, try to stay 20–30% below it. This will leave room for you to take advantage of opportunities you identify as you walk through the product build.

If money is a concern—and let’s be honest, it usually is—do everything you can to validate your idea before building. Find ways to prove the value of your product before ever writing one line of code.

Questions: What is my budget for building an MVP? Have I validated my idea enough to justify building it?

Want more help mapping out the features for your app or website? Checkout our App Feature Guidebook.