Minimum Viable Product (MVP) is a common term but it can mean different things to different people. In our view, the MVP should be the simplest and most impactful first version of your product. Target audiences can use it and derive value, but it should include only the minimum number of features needed to solve pain points and validate the market opportunity. It shouldn’t do everything, it won’t be perfect, and it should be considered a testing tool.
The process of bringing the MVP to life can present some challenges. Here are the top mistakes we see, and how to avoid them.
Overcomplicating the MVP
Many founders envision perfection for their MVP; they want all the features, a pixel-perfect design, and a fully customized build. This strategy leads to scope creep, an extended timeline, and a much larger software budget. If your MVP is bloated with features, you risk wasting time, money, and energy on aspects that might not even be what customers care about.
Avoid this by being strict about the experience and ensuring it delivers on your critical path, and no more. The MVP doesn’t need to be all custom software - using third parties and low code tools are ways you can get to market quicker in the early stages.
Ignoring user feedback
Founders often believe their vision is spot on and that they don’t need to waste time on validation or research. They want to get to market ASAP before anyone beats them. By jumping in without understanding the opportunity in the market, or having the insights to support prioritization, you may build things unnecessarily or miss the mark altogether. Building an MVP that caters to too many people, or too many needs, often leads to a diluted product that doesn’t effectively solve the specific problem for anyone.
Begin all MVP efforts with validation and research. We have lots of resourcesthat let you do this yourself (for free!) in a matter of weeks. Learning these skills will set you up for continuous feedback cycles, which will be helpful when scaling from MVP to v1.
Neglecting the technical feasibility
It’s worthwhile to consider how challenging it will be to implement the necessary technology or features in the short-term and also scale down the line. A common oversight we see is missing data sources or failing to understand how different parts of the experience will connect.
It’s crucial to have a clear understanding of the technical requirements and limitations of your MVP. We suggest creating prototypes and conducting experiments to test feasibility. If you aren’t a technical founder, consider working with a trusted partner to explore your options.
Not setting clear metrics for success
Without specific, measurable goals, it will be hard to determine whether your MVP is successful. These metrics are also great talking points with investors. Before launch, define key performance indicators (KPIs). KPIs for MVPs could include user engagement, customer retention, conversion rates, or feedback scores. These goals will indicate whether you’re gaining the necessary traction. If you aren’t hitting them, they’ll signal that you need to pivot sooner rather than later.
We hope avoiding these mistakes increases your chance of success and helps you minimize wasting time, money, and resources. Our top suggestion - prioritize the right, simplest user experience by conducting research before design and development begins. If we can help you plan and ship the right MVP or you want to discuss our ideas above, please send us a note.