Minimal Viable Product (MVP)

A Minimal Viable Product (MVP) is a streamlined version of a product, designed with just enough features to satisfy early users while also providing a base for future enhancements.

It's the most effective way to turn an idea into a tangible product, without compromising on delivering genuine value to users.

Our MVP development process is rooted in a deep understanding of user needs and business objectives.

Incorporating Design Thinking, we begin by delineating the primary pain points your product aims to address. We then, in alignment with Agile methodologies, rapidly prototype, test, gather feedback, and iterate, ensuring that the MVP remains focused, user-centric, and primed for market validation.

For startups, especially those looking to establish a foothold quickly in dynamic sectors, an MVP isn't just a product – it's a strategic asset. It allows for efficient market validation, minimises initial investment, and offers insights for future scaling.

Keen to transform your visionary idea into a tangible MVP? Engage with our digital strategist, and together, let's craft a product that paves the way for success.

Success stories

Recent examples of our work

Launching a fintech startup in just three months
HD Decisions

Launching a fintech startup in just three months

How we helped two fintech founders launch their startup and grow to acquisition in just three years.
Launching an MVP for the UK’s first fintech platform designed to close the gender investment gap
Obu

Launching an MVP for the UK’s first fintech platform designed to close the gender investment gap

Creating the UK’s first fintech platform designed to empower women and close the gender investment gap, for good.
What makes us worth talking to?

Why choose Distinction?

One project, one team

We spin up a dedicated team to work exclusively on your project. From the moment we start working together, we're never distracted by other projects. It's all about yours.

Specialised focus

Unlike consultancies and digital agencies, we're focused 100% on the creation and growth of digital products. Our knowledge, systems and processes are finely tuned.

Full product lifecycle

Our expertise covers the full product development lifecycle, from research, through design, development and launch, to ongoing support. There's no knowledge lost between phases.

Transparent collaboration

Our team will work with you like it's an in-house team. Daily communication, transparent dashboards and agile boards, and shared Teams/Slack channels are the norm.

Tech with a creative edge

Every project team includes a blend of strategists, techies and creatives to ensure no stone is left unturned.
RECENT AWARDS

Industry recognition

Insights

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Frequently asked questions

What are some common mistakes to avoid when developing an MVP?

The most common mistakes we see in MVP development include:

  • Trying to include too much in the MVP - losing the 'minimum' aspect
  • Neglecting user experience
  • Underestimating the importance of design
  • Ignoring market research
  • Not paying attention to feedback

It's essential to focus on core functionalities that reflect the product's value proposition.

Misinterpreting what the market needs, focusing too much on perfection, and launching too late can also hinder the success of an MVP.

Avoid making big assumptions without proof (ideally backed up by data) and ensure to gather and act on user feedback to iterate and improve the product continuously.

What are the key components or features of an MVP?

The key components of an MVP include just enough features to satisfy (ideally delight) early customers and provide feedback for future product development.

The essential features are those that solve the core problem for your target audience, which obviously vary from product to product.

The MVP should include a basic user interface, essential functionalities to test the primary hypothesis, and enough value to make the user interested in the product. 'Enough value' is a subjective measure, and will also vary from product to product.

It should also be able to collect user feedback effectively for future improvements. The focus should be on simplicity and the minimum set of features to address the primary need of your target market.

How does an MVP differ from a prototype or full-fledged product?

An MVP differs significantly from a prototype and a full-fledged product.

A prototype is a preliminary model to explore ideas and design concepts, not necessarily intended for release to the public. It's more about testing a concept than a market-ready product.

In contrast, an MVP is a simplified version of the product, developed with enough features to attract early adopters and validate a product idea early in the product development cycle.

A full-fledged product is a completely developed product with all intended features and functionalities, ready for the mass market.

We elaborate on the differences between and MVP and a prototype in our journal.

What is a Minimum Viable Product (MVP) and why is it important?

A Minimum Viable Product (MVP) is a development technique where a new product is introduced with basic features to satisfy (ideally delight) early adopters.

The main goal of an MVP is to quickly gather user feedback to iterate and improve the product.

It's crucial because it allows businesses to test a product hypothesis with minimal resources, reduce time to market, and avoid long and potentially unnecessary work.

An MVP helps in identifying the interest of the target audience and gathers valuable insights about customers' needs and preferences, which can guide future development.

We elaborate on this in our guide to MVPs.

What's the approach towards creating a Minimum Viable Product (MVP) and how does it evolve into a full digital product?

Creating a Minimum Viable Product (MVP) involves identifying and implementing the core functionalities that showcase the product's value, then launching to get user feedback to evolve the product.

The evolution from MVP to a full-fledged digital product is a structured process that entails iterative design, user testing, and feedback incorporation.

This iterative process ensures that the product continually improves and aligns with market demands, eventually culminating in a well-rounded digital product

Get in touch

Discuss your project with our senior digital strategist today.