You have a great idea for a software product or service and you’re eager to share it with the world. Now you need to decide: should you spend a lot of money to build all the features upfront, or should you wait months for the product to be ready, risking that others might launch something similar before you?
Most people in the industry agree that creating a minimum viable product (MVP) is the best approach. Whether you’re a new startup or an established business, an MVP shows that the effort you’ve put into your idea is worthwhile.
Because of its importance, engineering managers, product managers, and startup founders focus heavily on getting the MVP right. This might mean pushing the engineering and design teams to work as fast as possible or delaying the release until leadership feels the MVP is ready. Either way, preparing for the MVP is a busy and exciting time for a business.
The downside of focusing so much on the MVP is the fear of getting it wrong. Releasing it too early lets you adjust quickly but risks damaging your brand if the product is buggy or incomplete. Waiting too long can waste money and time, allowing the market and competitors to move ahead.
All this leads to one question: When should you release your MVP? The answer depends on your goals.
The True Purpose of an MVP
Earlier, I mentioned that you can use the MVP to check your product’s direction, but what does that mean? If you ask different stakeholders, you’ll get varied answers. Here are some common perspectives:
In technical startups, the MVP often showcases new technology. Sometimes, the technology is so advanced that the team has to invent problems for it to solve. This can be problematic if these problems aren’t based on real market needs. For example, the Samsung Galaxy Fold from 2019 showcased foldable OLED displays. It was expensive and didn’t offer significant advantages over regular phones. It generated some buzz but fell short in sales.
I’ve worked on projects where the MVP was built to showcase new technology, and neither was successful. In both cases, we had to start over and involve potential users to find a real application for our idea before building the next version. This process is expensive because you might have to discard all your previous work. one project even failed to create a new MVP before the startup ran out of money.
Another reason companies build MVPs is to test the market. For a more established company, less focused on showcasing new tech, an MVP can ensure the idea meets user needs and gauge market interest before further investment. This is a valid approach, but there are cheaper alternatives. You could use surveys to gather market data before building the MVP. Alternatively, you could use crowdfunding, customer registrations, or pre-orders to gauge interest before starting production.
Another reason for building an MVP is to test your idea. This is similar to testing the market, but in this case, you don’t have any initial users yet. Building a full MVP might be too much at this stage. Instead, use prototypes and proofs of concept to test your idea. These can help you engage with potential users and build an initial following. With feedback from the market, you can then develop the MVP based on real data.
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What Is an MVP?
You might wonder, “How is a prototype or proof-of-concept different from an MVP? Aren’t they the same?” Not exactly. Let’s use an example of an email app to explain.
A prototype is a mock-up. It shows the user experience (UX) for your product, but it doesn’t have real functionality. For an email app, a prototype might show the inbox, compose screen, and how you can read and reply to emails, move them to folders, or delete them. However, it only uses sample data. It wouldn’t actually send or receive real emails or change a user’s inbox. For more on the product design process, you can read this article: https://linkupst.com/blog/product-design-process.
A proof-of-concept is the opposite. It verifies the technology behind your product without focusing on user interaction. For the email app, a proof-of-concept would connect to a real email server and download emails, but it wouldn’t display them nicely. It might just show a simple list of email subjects without proper formatting.
An MVP is different because it is fully functional. It combines the user experience (UX) with the actual working features. An MVP is the simplest version of your idea that can still be considered a real product. The main difference between an MVP and a full product is the number of features. An MVP has just enough to be usable. For example, an MVP for an email app would let users see a list of unread messages, read emails, and send new messages. It might not include more advanced features like saving drafts, folder support, or reply-all and CC options. The MVP does a few things well, even if it doesn’t have all the features of the full app.
These three elements—prototype, proof-of-concept, and MVP—can work together. I’ve seen projects where we started with prototypes and proofs-of-concept before developing them into full features. This process is often called productization. The insights gained from the prototype and proof-of-concept help shape the final, polished product. For tips on selecting an outsourcing UI/UX designer, check out this guide: https://linkupst.com/blog/your-ultimate-guide-to-a-stress-free-selection-of-an-outsourcing-ui-ux-designer.
Prototypes and proofs-of-concept are often combined into a version that includes both user experience and basic functionality. In these cases, productization means improving the quality and stability of both the user interaction and the underlying code to make them suitable for real-world use. This work happens behind the scenes, so it can be hard to explain its importance to other stakeholders. They might think the prototype or proof-of-concept is good enough to release as the MVP. However, when creating prototypes and proofs-of-concept, the team focuses on getting something ready quickly, often neglecting edge cases and performance issues. It’s important to highlight these shortcomings to stakeholders because releasing an unstable MVP can harm your company’s reputation. While getting to market quickly is important, making a quality product is even more crucial.
For a deeper understanding of product design and AI influence, you may watch this video.
So, How Long Should It Take?
Earlier, I mentioned that you can use the MVP to check your product’s direction, but what does that really mean? If you ask different stakeholders, you’ll get varied answers. Here are some common perspectives:
In technical startups, the MVP often showcases new technology. Sometimes, the technology is so advanced that the team has to invent problems for it to solve. This can be problematic if these problems aren’t based on real market needs. For example, the Samsung Galaxy Fold from 2019 showcased foldable oLED displays. It was expensive and didn’t offer significant advantages over regular phones. It generated some buzz but fell short in sales.
I’ve worked on projects where the MVP was built to showcase new technology, and neither was successful. In both cases, we had to start over and involve potential users to find a real application for our idea before building the next version. This process is expensive because you might have to discard all your previous work. one project even failed to create a new MVP before the startup ran out of money.
Another reason companies build MVPs is to test the market. For a more established company, less focused on showcasing new tech, an MVP can ensure the idea meets user needs and gauge market interest before further investment. This is a valid approach, but there are cheaper alternatives. You could use surveys to gather market data before building the MVP. Alternatively, you could use crowdfunding, customer registrations, or pre-orders to gauge interest before starting production.
Another reason for building an MVP is to test your idea. This is similar to testing the market, but in this case, you don’t have any initial users yet. Building a full MVP might be too much at this stage. Instead, use prototypes and proofs-of-concept to test your idea. These can help you engage with potential users and build an initial following. With feedback from the market, you can then develop the MVP based on real data.
Also Read: Prototyping and MVP Development: Key Steps Towards a Successful Product Launch
