Why does the product need an MVP?
Answer
We recommend developing an MVP as it offers immediate value, reduces development costs, and allows gathering user feedback to improve future versions. An MVP serves as a way to test your business hypothesis with real customers without investing excessive resources into a product that may not have demand. Some benefits of opting for MVP development services include:
- Flexibility: By starting small and obtaining early customer feedback, you can adjust your offering and conduct further testing to develop a unique solution that generates significant profits.
- Cost-effective resource allocation: A minimum viable product with limited features is more budget-friendly compared to a complex solution in terms of design, development, marketing, and maintenance. You can evenly distribute your budget across these areas without any major gaps.
- Quick return on investment: By getting your product in front of customers soon after ideation, you can gain an advantage over competitors and improve your product before they can create a comparable alternative.
Why should a startup use an MVP development?
Answer
An MVP for startups reduces risks and conserves your budget, time, and effort. Moreover, utilizing a minimum viable product enhances your likelihood of captivating investors.
How long does it take to develop MVP software?
Answer
To provide an answer, we require information about the web product or mobile application you plan to create, its complexity, your industry, the extent of research needed, and your budget. A simple tool such as package tracking can be completed within 3-4 months. However, an automation service or a marketplace MVP may take 6-9 months or longer. It is important to note that rushing MVP development increases the risk of failure.
At Chudovo, we prioritize thorough concept research, market analysis, and interviews with target clients. With this information, we develop a stable product that can be scaled and easily modified based on feedback. This approach allows you to use the validated MVP as a foundation for the full-scale product, saving you from starting from scratch.
How much does it cost to make an MVP?
Answer
There's no single way to answer this question, and if you contact multiple MVP app development companies, you'll likely get different estimates. That's because the cost of developing a minimum viable product depends on many variables, including the scope of work, complexity of business logic, integrations, the rate of the development team, and the interaction model chosen.
If you outsource the MVP development process to an offshore country, you can save on wages, as the rates become lower with increasing distance from the US. Thus, at Chudovo, you can expect to receive MVPs, depending on the project's complexity, at reasonable prices.
There is yet to be a definitive answer to this question, and if you reach out to multiple MVP app development companies, you're likely to receive different cost estimates. The price of developing a minimum viable product depends on various factors, such as the extent of the work, the complexity of the business logic, integrations, the development team's rate, and the chosen interaction model. If you outsource the MVP development process to a foreign country, you can save on wages due to lower rates than in the US. At Chudovo, we offer reasonably priced MVPs based on the project's complexity.
How do you choose a reliable MVP software development company?
Answer
When conducting research on MVP product development companies, it is crucial to analyze the range of services they offer to determine if they can fulfill your requirements.. Additionally, reviewing their case studies can provide insight into their experience with projects similar to yours. Customer testimonials can offer valuable information about their commitment, quality of work, and communication style. Reaching out to the company's previous clients for private feedback on their experience may also be beneficial. Lastly, ensuring that your prospective tech partner is willing to sign a non-disclosure agreement (NDA) to protect your sensitive data from being shared with competitors is advisable.
