Before the advent of MVP startup were characterized with wasting of money before getting money and most time startup fails there by loosing investors money.
For most people MVP can be confusing, because its purpose and need differs, for those that want to test demand for their product, they don’t need to build a product with features what they need is a landing page that can accept user email and sometimes credit card.
This usually require small effort, just coding and design. This is type 1 MVP
While those that want to test if their product features has value or liked by their customer will have to humble their selves to learn and iterate according to their customer preference.
They will have to build an MVP that is not so packed with value, in fact their MVP doesn’t have to be perfect, since the purpose of the MVP is to learn.
Those that want to test their product usability needs to build an MVP that is packed with value. Such MVP must contain only the startup core value but must be standard enough to catch the attention of the customers. In this MVP startup need to test their MVP with early adopter, and mainstream.
What you need to know and do when building your MVP
Below are the things you need to do and know
Be precise
Whatever type of MVP you are building, do not go beyond it, let it be simple for the customer to interact with it.
If you are building landing page do not confuse customer with designs, if you are building featured MVP, do not build too much feature. If you are three trying to test your product usability, build MVP with only your core value.
The simpler it is the easier it is to measure.
Be agile
When building MVP always remember you are doing experiment. You will need to iterate a lot when building MVP, so put yourself in position that will make you do that quickly and easily.
Measure
Connect your MVP to API that will let you measure your users behavior. The primary purpose of MVP is to understand, if user will interact, and how they will interact with your product.
Call to action
This is very important, when building an MVP let there be call to action to whatever you want user to do with your MVP, failure to do this would make it hard for you to measure your users behavior.
Things to measure when building type one MVP
- Number of Traffic
- Number of Username or Email
- Bounce rate
In Type 2 and 3 MVP, this are the thing to measure
Acquisition
Where do your users come from
Activation
Those that use your core features
Retention
Those that keep coming back
Churn rate
Those that never visit again
