Startup MVP development. 10 rules to start and succeed in e-business

Part 2.

Read time: 5 minutes.

Continuing with the first part of our article, we are going to tell you about our practical rules and tips for MVP application development services. We have come to each of the following conclusions through years of practice and work with different clients. This does not mean that you have to follow them completely, but we hope that everyone will find something useful and inspiring for themselves. 


1. Fast time-to-market

Time is the name of the game in most business cases. Opportunities come and go, circumstances change dramatically, and successful products meet their customers at the moment suitable for both sides. Getting to the market fast is a matter of the design process — a part of functional requirements. In practice, to speed up time to market, you initially need to choose a suitable technology stack base that will not stop the process. And we can help with that in response to individual and unique goals and requirements.


2. Risk less, but more often

This is about treating resources while having a huge number of functional ideas in mind. The initial trend is to design a complex and multifunctional product to deal with a lot of use cases. This will unfortunately eat into the finance you will need later to evolve the product. Our startup MVP development includes benchmarks to spot must-have functions and helps to focus on the most profitable user scenarios. The other part of the savings comes from a soft launch on one platform. The entrepreneur has both the product that delivers the most valuable service and the finance to evolve it according to the client’s feedback and analytics, or distribute the product to more clients on other platforms as soon as KPIs meet the threshold.


3. Efficient environment

It’s not a secret that success has two parts: the work and the environment that can truly appreciate this work. We set an IT environment that lets an entrepreneur retain clients, see them, know them, and know everything needed to run his or her new business, hear everything, see everything, devote time to analyzing information and synthesizing decisions, and spend a reasonable amount of time doing that.


4. Get clients first

Getting first clients is a huge milestone for a business. Achieving this milestone opens up the door to reality. This is actually the first time Big Idea faces this phenomenon — reality. Start sharing a Big Idea with your friends, selling it to potential partners and employees isn’t exactly “facing reality” even before the MVP application development: to make it clear, it’s the same if you expect the country to vote the way your community does. Clients bring you their feedback, their cash and the proof that what you are doing is important. These three deliverable are essential for a startup to evolve.


5. Argument-driven, not opinion-driven decision making (Ask-your-client concept)

If you don’t know what to do — ask your audience. Apply user behavior analytics to decision making on all functional and nonfunctional requirements. Communication and attention to the target audience is the best clue for choosing to further develop the project. Choose the most convenient method of analytics for you and observe your users in real time to improve the service on time. Well-structured numbers are the best possible arguments to advocate product evolution. Argument-driven decision making is one of the basic paradigms in Fingers MVP application development company.


6. Plan and control

Every step in project management is aimed at achieving a specific goal that can be measured and is presented as a KPI. All KPIs are needed to be tracked, and actual results are needed to be compared to the planned ones. Then retrospective analysis is conducted followed by replanning. Our application development services include this process that lets us know if the decisions we make provide what is expected and if the hypotheses we work out are true or false.


7. Get strategic vision

Sometimes strategy is mistakenly perceived as a presentation with an overall view of the product's roadmap, with milestones that contain approximate numbers “just to get the idea”. This may be good enough for an elevator pitch, but isn’t enough to guide a product to success. We, as an experienced MVP application development company, help entrepreneurs build a 1-year planning horizon holistic system of KPIs that covers every part of e-business, including product efficiency, promotion, development, resources, risk management, and a framework for revision on a regular basis. 


8. Start monetize ASAP

Focusing on cash flow lets you achieve two very important outcomes: a) Wow, it works!; b) replenish resources for faster growth. In case when an entrepreneur is applying an exit strategy (growing audience for further selling his share to investors), the idea is very similar — the focus will be on an active audience.


9. Find partners you feel comfortable with

E-business is a long journey, so make sure that at the stage of MVP development you know who’s on your boat and that your relations are regulated well. Any fundamental change, especially a change in the team, is always reflected in the effectiveness of the product. After a shake-up, it may come out as a positive result, but in times of change, it's stressful. That's why it's so important to be attentive to the people on the team from the beginning. 


10. Develop your new business, not just MVP

Big ideas as well as startup MVP development may work or not, but your e-business that delivers the service should work the right way. A classy and running product in the long run is better than an idea because in the future, if properly developed, it will increase the target audience, profit, and attract investors. 

Rely on our approaches and rules to figure out your special way to success, and get in touch with us via the contact form or email if you need help building your first business or upgrading the existing ones. 

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