If you are creating an MVP for your company, you should go through this article.
On average, an incredible 30,000 new mobile apps are submitted for review and hosting at the Apple App Store every month.
It is a considerable number, and it says a lot about the importance of technology, the industry focuses on mobile applications and broadly convinces us for believing that mobile app development companies are vigorously active and they mean nothing but business.
Irrespective of how well a start-up scales itself or tries to limit the focus of resource allocation, the ultimate objective of every start-up is to be as profitable as possible.
So, the monetary aspect or the budget of any start-up leads us to a critical choice which every product-based start-up has to make.
Whether a startup should go with MVP or EVP?
It requires a comparatively more massive amount of resources and also delays the launch or increase time-to-market for any product.
Why do you need a minimum viable product?
Every new business is born out of chaos. Three-quarters of enterprises do not go past the initial stage, which is also the most decisive one. Whether you survive or go under depends on how well you steer through the troubled waters of startup. And that’s exactly where a minimum viable product (MVP) may be your beacon.
In a simple phrase, an MVP meaning is a product, which includes minimum features, or one main feature.
Well, there are lots of reasons, and the main is that customers can start using it before the overall product appears.
Thus, a user gets acquainted with the idea or concept of the future, more complex product and even can influence on its development.
In such a way, the product owner can create an app, which satisfies his and customers' requirements.
Yet, lots of startupers are prejudiced against such development method.
They are frightened that they won't be able to show the overall idea with an MVP model.