We at Parallel Minds follow Minimum Viable Product (MVP) development approach. Our services allows the clients build bare minimum software features and functionalities with rapid development pace. We ensure that these features would be sufficient for clients to approach their target audience. Deciding the features for Minimum Viable Product is more of a tactical decision to start with, without losing the foresight of future possibilities.
One way for a start-up to secure feedback is to deliver the minimum viable product (MVP). The MVP approach is based on the premise that you can provide sufficient customer value by delivering minimal features that early adopters will use. You can then collect feedback that will enable you to build a better product that will resonate with future users. According to the MVP approach, you do not need to address every problem at once. Solve the most important and most basic problems, and then gather feedback. The idea is to maximize learning and minimize development costs.
The term “minimum” may conjure the notion that functionality is small and not valuable. But that is not the case.
Parallel Minds follows Lean Startup methodology in figuring out the problem that needs to be solved and then arriving at a MVP - Minimum Viable Product. This further ensures measurement - learning and identification of actionable metrics that can demonstrate need of additional features which are critical for making up of an EVP - Economically Viable Product
We at Parallel Minds, have engaged with Start-up customers
Across the world
Serving in following domains
- Music industry
- Construction and Building Information management
- Oil and gas well data management
- Hospitality and loyalty
- Automobile service industry
- Social networking 2.0
- Mobile POS
- Automated property management
- IoTA in coal mines for smart equipment dispensers
MVP Best Practices
- Got an Idea? Look at existing market & similar products
- What is their value proposition?
- What is the differentiation and how is it better?
- Review every feature & verify the necessity; if not - drop those features
- Check for open source, 3rd party APIs, SDKs, frameworks & costs
- Plan releases & roadmaps ensuring clear monetization strategy
- MVP ensures that the product is going to weather the storm of market demands and has no superficial features those may disappear with time. This also ensures 100% ROI on each of the features developed.