SUPER GUIDE: Minimum Viable Product (MVP) The Super Guide about Minimum Viable Product (MVP) is a complete guide to get a product out into the market and the hands of consumers as soon as possible so that they can give feedback on what they like and what they don’t. Table of content What is a Minimum Viable Product (MVP) A Minimum Viable Product Is Minimal How “Minimum” Should an MVP Be? A Minimum Viable Product Is Viable A Minimum Viable Product Is a Product MVP Is Not a Product, It’s a Process Minimum viable product case study History of MVP Related Concepts to the Minimum Viable Product Prototype MLP vs. MVP The Minimum Viable Product and Lean Startup Philosophy Minimum Viable Product vs Minimum Marketable Product Minimum Viable Product vs Proof of Concept Minimum Awesome Product (MAP) vs MVP Minimum Marketable Feature (MMF) Minimum viable brand (MVB) Minimum Viable Co-founder Minimum Viable Team Difference between MVP (minimum viable product), working prototype, and beta version MVP Working Prototype Beta Version Common Pitfalls Key Characteristics of a Minimum Viable Product What is not a Minimum Viable Product A product that does not remain true to its assumptions A product that is not developed iteratively Non-Minimum MVP A poor quality MVP How MVP works Types of Minimum Viable Product Low-Fidelity MVP Types The Fake Door Landing page MVP Email MVP Marketing Campaign MVP High-Fidelity MVP Types Single-Feature MVP Pre-order MVP Concierge MVP Wizard of Oz MVP Piecemeal MV Could Your Startup Be Using an MVP? What Type of MVP is Best for You? The Purpose of a Minimum Viable Product To Enter the Market with a Small Budget To Find the Right Audience To Create a Balance Between Company Offerings and Customer Needs To Minimize Errors To Collect the Maximum Quality Feedback What is the MVP Development Process? MVP Product Development Benefits More Focus on Building the Core Meteoric (Speedy) Product Development Market Validation Minimizing the Product Development Cost More Feedback = Improved Product The Need to Build an MVP Stats Emphasizing the Need to Build an MVP How to Build an MVP: A Simple Guide Start with Market Research Ideate on Value Addition Map Out User Flow Prioritize MVP Features Launch MVP Exercise ‘B.M.L.’ — Build, Measure, Learn MVP Metrics Business vs. User Metrics Vanity Metrics vs Actionable Metrics Key MVP Development Mistakes Choosing the Wrong Problem to Solve Skipping the Prototyping Phase Targeting the Wrong Set of Persona Inappropriate Development Method Confusion between Qualitative and Quantitative Feedback Tips to Target the Right Market while Building an MVP Analyze the Competition Geographically Segment the Customer Base Find the Motivation Behind a Purchase Tools to Build MVP MVP Implementation Steps Why You Should Test an MVP How to Validate Your MVP Product? Crowdfunding Pre-Order Pages Customer Interviews Piecemeal MVPs Landing Pages Explainer Videos Ad Campaigns Social Media Surveys A/B Testing New Signups How to conduct an effective user interview for your MVP Before the Interview: During the Interview After the Interview Few more Ways to Test an MVP Experimental MVP Testing Manual-first MVPs Concierge MVPs Digital Prototyping Paper Prototyping Single-feature MVPs Hallway Testing How to conduct effective usability testing Plan thoroughly Prepare a prototype or product for testing Find the right users for testing Conducting usability test Document the tests well Analyze and repeat Examples of the Minimum Viable Product Airbnb Foursquare Facebook Twitter AngelList Buffer Amazon Groupon Dropbox How Much Does an MVP Cost? Initial Budget to Build an MVP Time Required to Build an MVP MVP Cost of Design Number of Features and Complexity Technology Stack How to reduce costs of building a Minimal Viable Product (MVP) Prioritize and start with key features Choose cross-platform development Adopt a suitable project management approach Use continuous integration and continuous deployment Start testing early Choose a partner with a trusted IT service provider How to Calculate The MVP Development Time? Should You Outsource the Creation of Your MVP? Measuring Success After Building an MVP Key metrics to measure your MVP success Feedback Net promoter score Activations Active users CAC (Customer Acquisition Cost) MRR (Monthly Recurring Revenue) ARPU (Average Revenue per User) The Existing Alternatives To An MVP Approach Minimum Lovable Product Minimum Marketable Product New Alternatives To An MVP, MLP, Or MMP Approach Minimum Catchy Offer Black Hole Strategy Lean Investor Steps to Move from MVP to Full-Scale Product Collect Feedback Prepare to Scale Get Your Pricing Right Market Your Product Analyze and Test What is MVP in mobile apps? How to Build MVP Apps Understand the Market Requirement User Journey Research and Planning Features of the Mobile App Design, Develop and Launch MVP MVP Value Addition Examples of Mobile App MVPs That Are Now Massive Successes Spotify Uber Instagram Minimum Viable Product (MVP) in UX Design The Role of UX in Developing an MVP How the MVP was ruined Criticism of MVP The MVP is still incredibly important What Comes After Minimum Viable Product Conclusion Read an excerpt from this Minimum Viable Product (MVP) Super Guide: “An MVP, in the world of business, is a product with all the basic features it needs to offer, but without additional bells and whistles. The point of an MVP is to get a product out into the market and the hands of consumers as soon as possible so that they can give feedback on what they like and what they don’t, which helps guide the company in improving the product. The MVP approach to developing new products is premised on the idea that you first produce a real product — in other words, something that’s functional and is not just a technical prototype or an imaginary idea. The goal with an MVP is to have a product in hand that you can then show to customers and users and see what they do with it — a much closer approximation of market reality than asking people what they would do.” This is must-have knowledge for entrepreneurs and business model analysts, and consultants if you want to dominate business models, this super guide was made especially for you. Product images are for illustrative purposes only