Building a Minimal Viable Product (MVP) is the fastest way to engage with the market and find out how it responds to your product. MVPs focus on getting the product ready as soon as possible, rather than offering a complete set of features.
Traditional product development — where you create a fully-featured product before shipping it — is virtually obsolete. That’s because with that approach, companies were running out of money before finishing their product. And many realized they wasted months on developing features nobody cares about.
With an MVP, you save money and let users guide your product development. You can rely on real-world data instead of untested assumptions.
But now that you have decided to go with an MVP, how do you actually go about developing it?
Planning for an MVP That Is Actually Minimal
MVPs follow the mantra “keep it simple”. If Word is Microsoft’s fully featured product, then Windows’ Block Notes is the MVP. Both software do the same thing in a nutshell: they allow you to write, create documents, and save files on your computer. But Word has a host of advanced features (many that the average user won’t ever use) that Block Notes doesn’t. Block Notes is straight to the point, and was surely far cheaper and faster to develop.
Now, here’s how you build something like Block Notes instead of something like Word.
1. Focus on the MVP’s Main Job
The simplest way to avoid adding useless features is by asking yourself what your product’s main function is. Consider the end user. What is the problem they are looking to solve?
List out the features that are directly correlated to achieving the product’s goal. Everything else is extra and can be saved for later.
2. Include Features Your Competitors Lack in Your MVP
While a very basic product that works is a great start, it shouldn’t be barren. Why should someone choose your product instead one of your competitors?
Think about what sets you apart from the rest. Do you have a feature that saves users time? Is your product’s workflow smoother? Or maybe it simply has a useful feature that others don’t have.
Whatever the case, you must include at least one feature that makes you different. Otherwise, people might not be interested enough in your product for it to survive, let alone do well.
3. Add a Couple of Extra Features to Your MVP
So far we’ve emphasized keeping things as minimal as possible. But the truth is that, while barebones software is great (as long as it works), users still like some bells and whistles. This is the trickiest part of the features-picking process.
How do you pick the right extra features? It’s difficult to prioritize the right things when you don’t yet know what is urgent and what isn’t.
To help figure this out, you can use the Eisenhower matrix. Or, simply create a list of features that integrate nicely with your core features.
Other Advantages of Saving Features for Later Versions
In addition to saving you the frustration, time, and money, there are even more advantages to keeping features for later versions:
- Upcoming features make for terrific marketing material. New features give you the opportunity to make announcements and fresh marketing material. Press releases and social media posts, for example, are an ideal way to get the word out
- You can poll your users to decide what to prioritize. Once you have some sales, you can ask your current users what they’d like to see added to the product. This gives you a better idea of what’s needed than trying to guess. Let the market guide your development.
- People will notice you care about your product. Few things in life are sadder than abandoned software. Active development demonstrates that you are committed to building an outstanding product and implementing user feedback.
Limiting the amount of features your product has keeps development agile and can actually help you market your product.
The Right Firm Will Help You Pick the Right Features for Your MVP
When deciding on features, it’s essential to figure out which ones to prioritize and which ones to save for later or skip altogether. That’s where Albright Labs can be a major help.
Get in touch with us today to discuss how we can assist you in narrowing down your options and delivering the most efficient, cost-effective MVP possible. We’ll put together a development plan that works specifically for you and your product. We’ll help you create realistic development goals, and a roadmap to launch your product and get feedback quickly.
Contact us now to learn more!