What is an MVP App?

As apps have become more integral to how businesses operate, having an app for your company is more important than ever. But how do small businesses and entrepreneurs keep up?

The concept of an MVP, or Minimum Viable Product, is one that has been floating around the technology and mobile industry for a while. An MVP essentially boils down to “the earliest working version of an idea that can be shown off or shipped”. The idea allows things like mobile phone applications to be created very rapidly and very cheaply, whilst still allowing customers or investors the chance to see what the app is aiming to achieve. This also means that if the idea turns out to be unnecessary or have no market, you’ve only invested a small amount of time and money into finding this out.

For entrepreneurs and small businesses, MVPs can be exceptionally powerful. As the number of businesses starting each year in the UK continues to increase, more and more of these businesses want a mobile phone application. Sometimes, the app they want is just to help with customer engagement or to provide an easier way for the customer to interact with the business. Other times, the app that they want will be the main focus of the business (Uber being a prime example of how a good idea and a simple app can change how we do business). As these businesses are starting out, they don’t have the sort of capital necessary to get a fully featured and styled app created by a large development studio, as that can set you back as much as £50,000. On top of this hefty price tag, they still wouldn’t know if their app was something their customers wanted until after the lengthy development process (oftentimes between 4 to 6 months!)

MVPs are a solution to the two biggest hurdles businesses face when trying to enter the app market: cost and uncertainty. As an MVP is an app that is stripped down to its most core features, the time, and therefore money, required to develop one is a fraction of the cost of building a full app. Plus because the cost of development is so low, the cost of failure is much lower too. If it turns out customers do not like or need your app, only a few weeks and a couple of thousands of pounds have been spent to figure that out.

So an MVP app can get you into the app market with much fewer risks, much smaller costs and in a much smaller time frame. An MVP might allow you to get to the market before somebody else and start getting customers interested. Or if it turns out your idea wasn’t a winner, you’ve not broken the bank to find out.

If you have any questions or thoughts on the topic discussed in this article, please leave a comment and I will try to reply as soon as I can!

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