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When you’re starting a project, it’s far too easy to spend all of your time in the weeds, imagining a final product that has all of the bells and whistles. On the other end of the spectrum, there are bare-bones proofs of concept that leave too much to the imagination and might lose you potential users. This is where MVPs, or minimum viable products, come in.
There are a lot of misconceptions about what MVPs actually are. In this series, we’ll discuss those misconceptions and how startups can quickly and effectively develop scalable MVPs.
What Actually Is An MVP
An MVP is a working, but simplified version of your product to help attract investors and early adopters. It allows you to incorporate user feedback and learn what consumers actually need and how they use the product, keeping you from wasting time and money. MVPs are fully working and functional products, not almost-fully-built proofs of concept that users will be instantly frustrated with.
Ultimately, an MVP is a simplified version of an app or product that will give you a chance to gain user feedback and confirm (or not!) the market research you have done. When 42% of startups fail because they built something nobody needs, that validation is crucial. The old adage about not reinventing the wheel could not be more accurate. For a successful MVP, clients need to understand their market position and have a compelling, novel solution.
To illustrate, imagine you’re building a ridesharing app. The MVP would include core features like the ability to hail a driver, share your location, and receive a price estimate. It wouldn’t include premium options like luxury car choices or a rewards system. The focus remains on solving the fundamental problem—connecting riders and drivers—without investing in extraneous features until user validation supports their needs.
MVPs are particularly good for finding product-market fit and refining ideas with real user feedback. With the combination of early adopters, future customers, and investors, you can validate all of that market research as you continue the development cycle while not wasting money on extra features so early in the process.
What MVPs are Not
Now that we have a basic understanding of what MVPs are, here’s what they aren’t. A minimum viable product is not a prototype or beta version of a product, nor is it a V1. While typically less expensive and with a shorter development time than a V1, the focus on core functionality—and not a product with all the bells and whistles—is crucial.
MVPs are also not an excuse to skip product strategy. A “good” idea is simply not enough, you still need to make sure you’re on the right track and building something users actually want. “Minimum” here does not mean minimum effort.
MVPs are not prototypes of a product. Prototypes are not meant for consumer consumption. They’re meant to communicate ideas through visual mockups, whereas users can actually (and successfully) use an MVP. MVPs are a much bigger commitment while still focusing on the core features and functionalities of the final solution, going beyond a proof of concept that might never leave a boardroom.
Neither are MVPs the end of the road. There will be plenty of additional time and development required for building a successful V1, so don’t fall into the common mistake of trying to shove too much into your MVP. Incorporating user feedback and doing extensive competitor research is crucial to continued success, and your MVP is the foundational tool you’ll use to get started.
Let’s go back to our hypothetical ridesharing app. An MVP might enable users to request a ride and pay through the app. A prototype, however, might be a static mockup showing what those screens could look like, while a V1 could include additional features like ride-sharing options, integrated music services, or advanced user profiles. MVPs sit between these extremes, delivering just enough functionality to test the concept while being serviceable and usable.
Examples of Successful MVPs
One of the more famous MVP success stories is Airbnb’s. With limited funds, the founders created a skeletal website for renting out an air mattress on their own apartment floor in San Francisco. With a couple of photos and details about the setup, they instantly found customers who were looking for an alternative to more expensive hotels for short stays. Thus, the industry-leading peer-to-peer rental housing giant was born. What was once the AirBed & Breakfast MVP website is now a global powerhouse, complete with websites and apps that go way beyond scheduling a couple of nights on someone’s couch (but you can still do that, too!)
Another example of a successful MVP is Foursquare. The original app had one focus: a location-based social network where users check in and get gamified rewards. The basic but novel check-in app was an immediate hit and the team incorporated growing user feedback to expand into recommendations, crossovers with other apps, and other expansive features.
Both Airbnb and Foursquare demonstrate the power of starting small and iterating based on real-world usage and feedback. These companies didn’t invest heavily in a feature-rich V1 from the outset but instead focused on delivering a core value proposition through an MVP. This approach allowed them to refine their product, avoid wasted resources, and pivot based on validated user needs.
The Role of Product Strategy in MVP Development
MVPs are a great way to bring an idea to market while using the process to gain valuable insights into the product you are creating. Product strategy encompasses understanding your market, identifying customer pain points, and clearly defining your value proposition. It helps you prioritize features that address the most pressing needs, ensuring your MVP delivers meaningful value to users.
In our ridesharing app example, product strategy might involve researching transportation challenges in urban vs rural areas and identifying gaps in existing services. This strategy would inform decisions about which features to include in the MVP—such as real-time tracking and ride requests—and which to save for later versions.
Without a clear product strategy, it’s easy to fall into the trap of building features that don’t resonate with users or failing to address the core problem your product aims to solve. A well-defined strategy ensures your MVP is both viable and valuable, setting the stage for future growth and success.
