What is MVP? Understand everything about Minimum Viable Product

MVP (Minimum Viable Product) is an important component for the successful creation of new products and services. Understand what it is and its importance!

Despite having emerged in the startup world, where entrepreneurs come up with new ideas to solve everyday problems, the MVP concept is growing in the market and is already being used in companies of all sizes and segments

We all know that structuring and developing these solutions is not an easy task, as several factors must be considered to achieve the quality and success of the final product or service. 

Therefore, the MVP should be a mandatory step during this process. To understand what it is and its importance, keep reading our article! 

What is MVP? 

MVP stands for Minimum Viable Product

It is a test version of a product, made with minimal resources (and even efforts) possible. Its main purpose is to be a sample for the creator to present the idea to the public, observe improvement points and get new ideas and insights. 

Being far from the final version, the MVP doesn't require such a high level of detail and shouldn't consume much of the available budget. Thus, it is also possible to avoid wasting resources that can be used more efficiently during further development of the product. 

What is the importance of MVP?

Having the MVP in hands, the creator succeeds:

  • Present this initial version to consumers;
  • Understand what the consumers' perception of that product is;
  • Improve the product according to the feedback received;
  • Develop a high quality product that really meets the needs of the market. 

What comes after MVP?

The path between MVP and its final version is long: after creating the MVP, presenting it to the public and collecting feedback, you need to move forward in product development to improve it and bring it to new versions. 

But once you have received consumer insights, how do you continue? Many techniques and methodologies can be used to keep production going and one of them is design thinking.

Design thinking is a thinking methodology that puts the human being at the center of the strategy. It is usually used for the development of products, services and solutions in general. 

This method has 5 steps that can be used for the development of your product after the MVP. Check it out:

  1. Empathy: After receiving feedback from the audience, reflect on what your customers' real needs are.
  2. Definition: Organize your insights to find your niche in the market and define the main problem you seek to solve.
  3. Ideation: Brainstorm ideas related to your solution.
  4. Prototyping: Create a new version of your product based on what you have structured so far.
  5. Test: Present the new version to the audience to gather new information and feedback. 

The process doesn't have to be linear, you can adapt it to your project. The important thing is to continually learn more about your product, improve it strategically and get to a high-quality final version. 

About Indico

Here at Indico, we believe in innovation and we are used to work with MVPs. In fact, most of our platforms, such as Scuta.ai and Agata were developed from a MVP, just like several of our clients' demands and needs that have been implemented and are now transformed into solutions that are part of their daily operations. 

Bring your idea to Indico and find out about our approach of developing innovative solutions that generate real results. 

Contact us!