Building a minimum viable product (MVP), helps you learn how your product’s core idea serves real users. MVP is a version of a product that has enough ready features to be used by early adopters.
We have compiled a list of good practices for building a successful MVP.

Good practices for developing MVPs

1. Define your business needs and conduct market research:

First, you need to define your project scope and the business needs that the MVP is supposed to meet. It is important to be clear about what user pain points you want to solve and what are the desired results to be achieved.

To make sure this is the case with your MVP, conduct market research – and make sure to speak to people (investors, users, experts, etc). There’s a good chance that a solution like yours already exists. This doesn’t mean you should give up on your idea, but you need to learn from, and improve upon, existing solutions. Additionally, consider filling a specific niche – that kind of focus can be all the advantage you need.

• Who will be your user?
• What value does your product offer?
• What problems does your product solve?

2. Define your features list:

Drill down and list all your requirements for the MVP, it will give you a bigger picture and help you plan your next actions. Once you have all the features you can segregate them into essential features, nice to have features and add-ons.
Such a division may be helpful with extracting the bare essentials for your product. With this, you will know what you want to build.

3. Building a proof of concept:

A PoC (proof of concept) can be designed by creating clickable prototype or demo before you start working on an MVP. It can be a fantastic tool for early-stage practical verification of your business idea. It will also help you build belief in your product among your own team, stakeholders, and investors.

4. Define your MVP’s success criteria:

Define the MVP’s success criteria with your stakeholders and investors. List the KPIs that will help you decide the success matrix. Share the KPIs with your development team so that they are ready to scale.

5. Build an useable MVP:

Throughout the entire development process, your focus should be on building the minimum viable product. Remember, however, that minimum doesn’t mean sloppy.

Your team should build the core functions of your app that are necessary to solve a defined problem, and very little else – but these core functions need to be well-designed and compelling to users. In this context, viable means usable and effective in attracting a user base.

6. Don’t cut corners:

Don’t cut corners thinking you’ll come back and deal with issues later. Likewise, don’t compromise on expertise. Treat an MVP as the best way to ship and test your product and get it out there fast. Don’t go overboard with fancy functionalities, either. There’ll be time for that after you perfect your core features. Track user behavior and use what you learn to improve your initial ideas.