Minimum Viable Product (MVP)

Theodo is a software and app development company that helps enterprises and startups build minimum viable products (MVPs) quickly. We work closely with our partners to create a product with the feature-set required to validate assumptions while gaining traction in the marketplace.

What is an MVP?

A minimum viable product (MVP) is a stripped-down version of an application with the minimum features needed to satisfy and solve a customer challenge. In business, organizations use MVPs to validate assumptions they make about their product or service. It’s the first step towards cementing a product strategy. In technology, building an MVP should result in a solid codebase architecture and a technological foundation that supports longterm scalability and growth.


What is the Purpose of an MVP?

An MVP allows organizations to launch a simplified version of their product while gathering critical user insights. MVPs are great for lowering the barrier to entry and gathering feedback from real end-users to guide the design of future product iterations. Ideal for start-ups and enterprise organizations who are trying to cost-effectively enter a new market, building an MVP can be the first step to an effective long-term product strategy. 

As a low-risk approach to product development, MVPs allow organizations to test the marketplace without investing too many resources and risking failure if the product isn’t successful.

 

Benefits of an MVP

Large scale, fully-featured apps can take years to develop and launch. The agile nature of MVP development provides organizations who have limited resources, like funding or development talent, with various benefits in both the short and long term.

How to Build an MVP

For an MVP to be successfully built, a strategic approach must be taken to slim down the ideal version of the end product to the most streamlined version. An MVP’s only function and goal should be to solve the challenge end users are experiencing. If the feature doesn’t directly contribute to solving that problem, it shouldn’t be in an MVP.

Typically, organizations follow these steps to successfully build an MVP:

  1. Conduct market research to identify and understand your user's needs
  2. Map out the user experience and product design to ensure your customers’ pain point is solved within an intuitive interface
  3. List all potential product features that you’d like your final product to include
  4. Conduct a cost/benefit analysis on the feature-set and eliminate features that are unnecessary upon initial launch to determine which vital features will be included in the MVP
  5. Begin to build the MVP with an expert development team, measure results, and make long-term product decisions 

Organizations taking initial steps toward creating an MVP often face two main challenges: 

  1. Determining the right features to include in an MVP can be a challenge
  2. Assessing the complexity of feature delivery during cost/benefit analysis

Partnering with an expert development organization can empower your team with the strategic guidance and expertise needed to identify the most important features to include in your MVP. By partnering with software developers, you also gain access to a full development team who have experience building MVPs and can ensure your product will be developed and brought to market quickly.

 

Working With Theodo to Build an MVP in Weeks

Theodo is a world-wide MVP development agency that helps organizations bring product concepts to life in record time. By working closely with our partners to understand their business goals and leveraging our long-term experience with building MVPs, we provide the insights and expertise needed to bring the right features to the right users in weeks. 

Our expert team of developers work hand-in-hand with your team to ensure deadlines are met. Our team has years of development experience using various frameworks including React, React Native, Node.JS, and Python. We take the time to train your internal development team on the specific framework used for your project to set your team up for long-term success.

Tell us about your project to learn how Theodo can help quickly bring your software concept to life.

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