How to Build an Effective Mvp

Everyone who wants to start their own company always finds themselves in a dilemma with the initial product called MVP. Ironically, most founders I’ve met want to build an MVP without a clear definition, relying solely on their work experience. If you’ve worked under a big company, an MVP usually contains numerous features with nice-to-have tools, rather than focusing on one killer feature. Additionally, founders often aim to launch their first MVP within a few months.

If you don’t have a CTO with hands-on experience among your founders, your only option to get an MVP may be hiring a product/project manager and outsourcing the development to a studio. While this may seem like a viable option, it can sometimes lead your startup down a path to failure and deplete your cash reserves. The main reason why this approach is risky is that the MVP requirements are not clearly defined, resulting in constant changes requested from the outsourcing team. You might find yourself saying things like, “Hey, I think we should do this instead of that. Sorry to inform you, but we need to prioritize this change over the original idea.” And before you know it, your MVP turns into a game of MVP Whack-a-Mole, where requirements keep popping up and changing, making it hard to stay focused and deliver a cohesive product.

Usually, founders meet many people while preparing to release their first MVP, such as potential investors or other founders who have already invested in startups, as well as friends or family. While they may offer advice to help you, it’s important to remember that they are not your co-founders or customers. You can only get real feedback from customers, not from them.

If you want to secure initial investments without having any real traction like most founders, all you have are simple slides showcasing your ambitions. Typically, investors or individuals in VC firms provide direct opinions, pointing out potential flaws in your idea. Then, you want to prove that you are right through your valuable MVP. Eventually, you will deliver your ‘Frankenstein’ MVP to the market.

If the response is not as great as you had hoped, you may fall into another trap of thinking, ‘My idea is still great, but I think I should add these killer features ASAP, and then everything will be great.’

But let’s be honest, if you keep adding more and more features, we might have to drop the “M” from MVP and just call it a “V,” because it’s definitely not minimal anymore!