What is MVP (Minimum Viable Product) in Agile?

#startup #agile #mvp

As a startup, you have only pure assumptions when you think about developing a new product. You are assuming that there is a market need for your product or service, and you are fulfilling that need most effectively, or let's say you think your product is the best among the competitors, and the list goes on.

To validate these assumptions, you are going to build MVP. But, there is one more thing, you would like to validate those assumptions in a most affordable way!

Then, developing an MVP with an agile methodology is just the perfect solution.

What is MVP in Agile?

Let's understand is Agile Development still the best way for a startup to build its MVP?

MVP and Agile Development: The Key to Your Successful First Launch

Agile development is quite popular in the software development industry and especially for MVP development.

How MVP is developed with Agile development?

The development of a minimum viable product in the agile is an incremental development pattern. With the agile development approach, your project is divided into iterations that are smaller chunks of your project. At the end of each iteration, your product will be a small working piece that will help you receive feedback and work for improvement.

MVP agile development will look like this;

Your team will be working on the final version of your MVP with agile development. The members of the scrum team will work on sprints. Each of these sprints will be 2-3 weeks that delivers the latest version of your MVP that goes to another sprint for further development.

Thus, while choosing the MVP development company, ensure that they use agile methodology for the minimum viable product development.
Now, let's see why agile development still the best way for a startup to build their MVP;

After each sprint, the product is tested instead of waiting until project completion; thus, a significant amount of money, time, and hard work can be saved.
As the MVP with agile development is based on dividing the project into small sprints, you can quickly respond to changes or market demands.
As you will be able to launch the product in the market early, you can collect feedback from users rapidly.
You can make significant improvements in further development because of customer feedback.
You can develop a product by taking into consideration your target market with an agile methodology.

Agile MVP include the 3 terms that have significant importance for startups;

Minimum: Minimal feature for it to work
Viable: Provide some value to the customers that stimulated them to use it or pay for it
Product: Ready to use the product now!

How to make the minimum viable product concept work for your startup?

Every startup wishes to ensure that their product/service has to be something that customers will be ready to use and pay for. Therefore, building a minimum viable product is essential for you to make sure you are on the right track. You need to make sure the following things to make MVP work for a startup;

Your MVP has to solve any one core problem for users.
It has to serve at least one specific target market.
It should have a satisfying and engaging user experience.
Develop your minimum viable product gradually and launch it quickly.

Your product will not be minimum or viable if the very first version of it does not fit into the criteria mentioned above. Therefore, agile development is still the best way for startups to build their MVP.