Minimum Viable Product Development: At the CORE
An initial version of software known as a minimum viable product (MVP) is developed to be shipped at the earliest stage. Generally, an MVP encompasses only the fundamental features required and possesses sufficient allure to resonate with the intended user base. The primary objective of MVP development is to gather valuable feedback from users and begin reaping benefits at an early stage. As soon as an MVP is released, it can be progressively enhanced with additional features until it evolves into a comprehensive application.
Delivery time
The duration of development can range from as short as 2 weeks to as long as 8 months, depending on the approach taken. Development stages can vary from 2-5 days for no-code/low-code development to up to 6 months for code-based development.
Costs
The cost of MVP development typically falls within the range of $40,000 to $300,000 or more, accounting for approximately 10% to 50% of the total software cost. For more detailed information regarding average MVP development costs, please refer to the dedicated section below
goLance is a reputable company specializing in the design and development of high-quality MVPs across many industries. We offer comprehensive consulting services to support your MVP development project at any stage. Whether you are just starting out or already in the midst of development, our team is ready to provide the expertise and guidance you need to ensure the success of your MVP.
MVP / PoC / Prototype: How do they Differ?
PoC (proof of concept)
A small-scale project, such as a simple software demo, a hard-coded piece of complex functionality, or even a detailed document, serves the purpose of demonstrating the feasibility of your idea in practical terms. In this context, the primary emphasis is placed on the technical aspects rather than UX/UI design. The goal of this endeavor is to showcase that your concept can be successfully implemented in real-life scenarios.
Prototype
An interactive representation of the future product design serves as a visual demonstration of the major user flows and software layout. This representation provides an interactive and engaging experience, allowing stakeholders to navigate through the design and gain a comprehensive understanding of how the product will function. By showcasing the user flows and software layout, it enables stakeholders to provide feedback, make informed decisions, and ensure the design aligns with their requirements and expectations.
MVP
A fully functional product in this context refers to a release-ready version that encompasses the necessary features to be launched in the market. It is designed to meet the minimum requirements and expectations of users, providing them with a valuable and usable experience. This version includes just enough functionality to fulfill its intended purpose, allowing it to be deployed and made available to the target audience.
Process to Build your Minimum Viable Product
The number of MVP development steps and their duration may vary based on the complexity, novelty of the software, and the type of minimum viable product being built. At goLance, we follow a typical set of steps to construct an MVP, which are described below
Ideation and Conceptualization
This initial phase involves brainstorming ideas, refining concepts, and determining the core value proposition of the product. It is crucial to define the problem the MVP aims to solve and identify the target audience.
Requirements Gathering
In this step, we gather detailed requirements for the MVP by conducting user research, market analysis, and stakeholder consultations. This helps us understand user expectations, define essential features, and prioritize development efforts.
Feature Definition
Based on the gathered requirements, we define the essential features and functionalities that will be included in the MVP. These features are chosen to deliver the core value proposition while keeping the scope manageable.
Design and Prototyping
UX/UI designers create wireframes, mockups, and interactive prototypes to visualize the user interface and user experience. This step helps validate the design and gather feedback from stakeholders and potential users.
Development
The development team starts building the MVP, focusing on implementing the essential features and functionalities. The duration of this phase can vary depending on the complexity and scale of the MVP, ranging from weeks to months.
Testing and Iteration
The developed MVP undergoes rigorous testing to identify and fix any bugs or usability issues. Feedback from users and stakeholders is collected to guide further iterations and improvements.
Launch and Feedback Collection
Once the MVP is stable and meets the necessary quality criteria, it is launched to the market or a specific user group. Feedback and analytics data are collected to evaluate user response, identify areas for enhancement, and guide future development efforts.
Benefits of MVP Development with goLance
Cost-effectiveness
You avoid excessive investments at the start and stay flexible in the future.
Market testing
You get an opportunity to enter the real market and check the viability of your concept.
Early feedback
Early user feedback will help you zoom in on necessary product improvements.
Quick idea monetization
The income from MVP can become a solid base for product evolution. Besides, it’s a chance to be noticed by investors.
Access to advanced techs
We can enrich your MVP with AI, VR, data science, blockchain, IoT, and more.
Faster time to market
Code-based MVP will be ready for users in ~ 2-6 months, which allows you to roll out your product fast and stay ahead of the competition.
Typical Roles in Our MVP Dev Teams
Project Manager
Oversees an MVP project, including delivery on time and on budget, preventing feature creep, etc
Business Analyst (BA)
Elicits functional and non-functional MVP requirements, technical limitations, defines MVP modules and integrations with other systems
Back-end developers (1-3)
Builds the MVP server side and APIs.
Front-end developer
Creates the MVP client side
UX Designer
Performs UX research, designs minimum necessary user interactions with an MVP, and information architecture, conducts usability testing
UI Designer
Working closely with UX designers, creates aesthetically pleasing, custom visual style of the user-facing MVP interface
Quality Assurance Engineer (optional)
Designs and implements the test strategy, plans and cases, validates the developed MVP and produces test summary reports.
Start Off with MVP to Go Big
At goLance, we have established processes and pre-selected teams with all the tech knowledge and skills to deliver your MVP – from initial design to development and launch – in a speedy and lean mode.
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