In this article, we will briefly review the steps to build a Minimum Viable Product (MVP) for software or application development. For a detailed review of each of the steps and phases, see our article, ‘MVP Software Development: Everything You Need To Know (The What, Why And How)’.
The technology research firm, Gartner reports that new product failure rates in the software industry are between 40% And 80%. If you don’t want to be included in those statistics, you may wish to consider building a Minimum Viable Product or MVP. One of the benefits of building an MVP for a potential software app or a new set of features in a software product is to reduce the failure rate for your product and to better prepare for the final product features in order to achieve the desired customer satisfaction.
Let’s talk about Minimum Viable Products, otherwise known as MVP. If you are reading this article, it is because you are curious about MVP. Maybe you are even considering employing the MVP process to support your product ideas. So, let’s get started!
This U.S. based Client is a start-up company, focused on a concept and software application that will unite the world of fantasy sports and sports gambling. The Client wished to capitalize on the growing popularity of fantasy sports and sports betting with a world-class platform, that would provide a unique perspective and make a positive difference in the sports and sports gambling community by encouraging social impact and community charitable outreach.
If you have a small or medium sized business, and your team has some great ideas for software applications, or software products, software re-engineering, user experience design, or maybe even a mobile application, it is understandable that you would be frustrated! If you have an in-house IT staff, they are nearly always swimming against the tide. There is too much to do and too few resources and you may not have the skill set or training to tackle these types of products. But, IT consulting and expertise is costly, right?
