MVP stands for Minimum Viable Product. It means a product with the core minimum features needed to demonstrate how a product works.
A company that wants to launch an effective product needs to create a good product. Creating an MVP helps companies test user flows with complex onboarding systems. Example 1: a smart shower app that connects multiple users to multiple smart shower heads throughout the house. This company raised $139,032 to launch their idea and bring it to market.
Delay in getting their product out to their backers brought frustration. Frustration in setting up the product lead to more upset backers. Luckily they turned this around. With rapid prototyping and relaunching their MVP they gained back their users support.
90% of startups ideas fail. If you want to create an effective product that does well in the market- it's ideal that beta users are not frustrated or confused. Don't let frustrated users be one of the reasons your product fails.
Creating an MVP could also mean revolutionising the medical industry by connecting doctors, patients, insurance companies and pharmacies all in one place. Big ideas need big budgets, but what investor wants to invest in a product that sounds risky and one they can't see? Creating an MVP helps visualize complex ideas and earns trust.
To create an MVP you need a small team of strategists and designers who aren't afraid to ask questions. This team includes at least 1 UX Designer, 1 Creative Director and 1 Tech Specialist ...or someone who is a combination of each and can facilitate you and your team to collaborate in a series of workshops. At Chayland we provide this service.
At Chayland we put together a team of 1-3 to understand your goals, what you want to achieve, who the product is for and what features we should include and exclude in the first round of ideation. After we help you create the first MVP, we help you test it and revise it.
Phase 1: Collaborate and Discuss 20 Mins- Like/Dislike Warm Up: What products and companies do we admire? Who do we dislike and why?
2 Hrs- User Persona Workshop Who are your top 3 users? How old are they, where do they live, what are their hobbies, do they prefer a Ford or a Tesla? Do your services align your goals and the needs of your customers?
2 Hrs- Revenue, Awareness, Efficiency Workshop (RAE) In this workshop we discuss how to grow revenue, what will generate awareness, and what will make operations more efficient.
2 Hrs- MVP Features Workshop In our MVP workshop we outline and determine what is necessary to create a powerful cost effective web application. Here we will decide what features we keep and leave out for the MVP. The power of your web application lies within prioritising your goals and our effectiveness in addressing the needs of your users.
At the end of each workshop we provide you with a pdf of information to keep your team aligned with your company's vision and a plan of action to achieve your company's mission.
Who are the top competitors? What are they doing well and what can you do better than them? Are there gaps or pain points in the industry that they overlooked? Can you address these issues with your product?
During phase two we compile an analysis of your industry and your top competitors. We do this to challenge the viability of your idea and bring new ideas to the table.
During phase three we bring your idea to life. Using Invision we create a clickable prototype that feels coded, but without code.
Nice! Your MVP is complete! Now you now have something to show investors or test with real users to get feedback. Collecting feedback is essential in revising your idea to accommodate your users' needs. This process that will validate your idea and save you time and money in building out the actual product.
Contact me at email@example.com and let's talk!