MVP - Should I build an MVP? What are the advantages?

An MVP, short for Minimum Viable Product, is a well-known concept for startups and the tech industry. It's a key element of the Lean Startup methodology which says you should build an MVP and test it with users as soon as possible, so flaws can be detected sooner while it's cheaper to correct them.

What is an MVP?

It is a product with a minimum set of features to attract early users and validate the idea in the initial phase of product development. It tests the main and most basic features of a product with users so this data can be used to make smart business decisions. Building an MVP allows entrepreneurs to assess the viability of their product based on customer experience. In the end, it comes down to two possible alternatives for MVPs: to scale up based on the customers’ needs or to shut the project down at an early stage while investment is still low if the product doesn't appeal to its target audience.

The illustration above is famously used to explain what an MVP is. In the case of building an MVP of a car, for example. Instead of starting to build a car piece by piece and calling each part a stage of an MVP, an MVP would start with the most basic form of transportation on wheels, being a skateboard or a scooter. An MVP would evolve each step of the way, first by building a bicycle, then a motorcycle, all the way up to a fully functional car.

What is the difference between an MVP and a PoC?

Although a Minimum Viable Product and a Proof of Concept (PoC) might be similar in essence, as in a stripped-down version of a product, what they differ are in their purposes. While a PoC's addresses building and testing a product’s features to see if they are technically possible, an MVP has to have these features tested with the public. In simple terms, a PoC is about the drafting process and the idealization of an idea, and an MVP is about implementing that idea with the public.

When to build a PoC?

Building a PoC before an MVP is a good idea when you are unsure if your product is technically viable or about the competence of your developing team. That way if the project run into technical issues and the product cannot be completed as intended, it would not cause a big loss of investment considering PoC development takes about 2 weeks to be finished instead of 3 months like an MVP.

Why build an MVP?

• To release the product in the market sooner
• To test the concept with users before further investment
• To learn what’s resonating with the market (and what’s not)
• To minimize the resources and time that would be spent on developing a product that wouldn’t sell