Got a fresh idea? No need to go over the top immediately. It's best to first start by building a Minimum Viable Product (MVP) first, focusing only on core features and gathering feedback, iterating, and improving. It’s the path Airbnb, Dropbox, and Spotify followed—and we all know how that turned out.
In this article, we’ll walk through the essentials of implementing an MVP strategy, step by step.
What is an MVP?
First things first: what exactly is an MVP? It’s a concept in product development that refers to the simplest version of a product that can be released to the market. This version includes just enough features to satisfy early adopters and gather valuable feedback for future iterations.
The term was popularized by Eric Ries in his book The Lean Startup. Ries describes the MVP as a way to minimize risk while maximizing learning, enabling startups to develop smarter and faster.
Why should you build an MVP?
There are many reasons to build an MVP, but these 4 are the most important:
1. Test your concept
An MVP allows you to test your product idea with real users before committing significant resources.
2. Reduce risks
By testing assumptions early, you can make informed decisions and minimize risks associated with product development.
3. Show traction
Use the MVP to demonstrate traction and market potential, which can make it easier to attract investors.
4. Validate scalability
If early adopters respond positively, you gain confidence in scaling your product with expanded features.
How to build an MVP in 9 steps
Building an MVP requires a structured process. Here's exactly how to do it:
1. Identify the problem your product solves
Start by pinpointing the specific pain point or gap in the market that your product addresses.
2. Conduct market research
Analyze competitors, assess market demand, and refine your product concept to align with user expectations.
3. Articulate your vision
Clearly define:
- What problem are we solving?
- How do we benefit users?
- Why should users choose our solution over others?
4. Prioritize core features
Create a list of potential features and prioritize those that deliver the core value to users.
5. Develop prototypes or wireframes
Visualize your product’s design and functionality with prototypes or wireframes to ensure alignment before coding begins.
6. Build core functionalities
Focus on implementing the essential features identified earlier. Avoid unnecessary complexity at this stage.
7. Test regularly
During development, conduct user tests to ensure the product is user-friendly and meets the desired functionality.
8. Launch and gather feedback
Once the MVP is ready, release it to your target audience and actively collect feedback.
9. Iterate and scale
Use insights from user feedback to refine your product, add features, and scale based on market demand.
How to get customers for your MVP
Building a great MVP is just the first step—you need customers to validate it. Here’s how to attract and engage users:
☑️ Create a landing page
Develop a simple yet informative website that highlights your MVP’s features and benefits. Include engaging explainer videos and high-quality visuals to capture attention.
☑️ Make the most out of social media
Generate excitement by sharing teasers, updates, and behind-the-scenes content on platforms where your target audience is active.
☑️ Engage directly with potential customers
Reach out to users in your niche, respond to feedback, and foster a community around your product.
☑️ Start building an email list early
Encourage interested users to sign up for updates. Share newsletters with insights into your product’s development, launch dates, and special offers.
☑️ Collaborate with influencers
Partner with niche influencers to boost awareness and credibility within your target market.
☑️ Invest in targeted ads
Use online advertising to quickly reach a broader audience and drive traffic to your landing page.
Examples of Successful MVPs
Airbnb
- Airbnb’s MVP was a simple website showcasing airbeds for rent in the founders' apartment during a fully booked convention.
- The website featured an ad and photos of the studio, with airbeds and breakfast included for guests.
- The founders called the concept "Airbed and Breakfast," inspired by their offering.
- The MVP succeeded by meeting demand with minimal setup, validating the concept of affordable, home-based lodging.
- This early success proved the potential of a lean, straightforward MVP approach.
Groupon
- Groupon's MVP focused on capitalizing on people's love for bargains by offering local deals through online coupons, moving away from traditional newspaper cutouts.
- The MVP was a basic WordPress website with minimal design or complex features, demonstrating a focus on functionality over aesthetics.
- Deals and coupons were sent to subscribers via email in PDF format, keeping the process straightforward and cost-effective.
- After validating demand, Groupon expanded into a full marketplace where vendors could submit various limited-time offers, promo codes, and discounts.
Dropbox
- Dropbox's idea stemmed from Drew Houston’s personal struggle of frequently forgetting his USB drive, leading to the concept of cloud storage accessible across devices.
- Instead of a functional prototype, the team created a 4.5-minute explainer video demo showcasing the product’s capabilities and value to tech-savvy users.
- The demo video went viral, increasing the waitlist from 5,000 to 75,000 users in a single day, effectively validating demand and generating buzz.
- The MVP development encountered technical difficulties, such as synchronization across platforms, and marketing challenges, including a lack of traction and investor funding.
- The video MVP helped gather valuable user feedback, attract early adopters, secure funding, and lay the foundation for Dropbox's success as a subscription-based cloud storage solution.
Duolingo
- The language learning app was available for free from the start, attracting significant interest and building a loyal user base early on.
- A private beta with six languages in 2011 generated a waiting list of over 300,000 users, which grew to 500,000 by the official launch, alongside securing $3.3 million in Series A funding.
- Over time, Duolingo expanded its language offerings to over 40, introduced premium tiers, and attracted continuous funding, becoming a billion-dollar startup.
- The app’s mascot, Duo the Owl, uses notifications and reminders to encourage daily practice, maintaining high engagement and retention rates.
Spotify
- The initial MVP was a basic, free desktop music streaming service supported by ad revenue, prioritizing core functionality over extensive features.
- Spotify's MVP was tested in a closed beta, allowing the team to gather feedback and refine the product before broader release.
- A paid plan was introduced post-MVP to offer an ad-free experience, transitioning the platform into a freemium model.
- Spotify now features millions of songs, operates on both online and offline modes, and has become a global leader in music streaming with a freemium and subscription-based model.
Recommended Stacks for Building Your MVP
Here are some recommended tech stacks for building an MVP, based on different levels of coding experience and project requirements.
1. The Mobile App Stack
- Flutter
- Supabase
- RevenueCat
2. The "I Don’t Know How to Code" Stack
- Webflow
- Memberstack
- Bubble
3. The Quick SaaS Stack
- Next.js
- Supabase
- Stripe
- Vercel
4. The "My Technical Needs Are Quite High" SaaS Stack
- Next.js
- Go
- Auth0
- PostgreSQL
- Stripe
- DigitalOcean
These stacks cater to different levels of technical expertise and project complexity, helping you choose the best tools for building and launching your MVP.
That's a wrap on how to build an MVP, make sure to check out our weekly newsletter "The Full Stack Entrepreneur" for more founder tips like this.
