DANGEROUS MISTAKES TO AVOID WHEN BUILDING AN MVP
Despite the differences in size, location, and resources in all different kinds of MVPs, we’ve noticed that a lot of them made similar mistakes along the way.
And while many of the hurdles you will encounter when building an MVP will be specific to you, some are common and easy to avoid.
The result is a list of 7 mistakes you should avoid before you take your first step to introduce a new product to the market.
1. Focusing on the “Minimum” More Than the “Viable”
A product should not be released as an MVP until it is ready. But many startups would call their first product an MVP even when it’s just partially complete. This is a disastrous error that produces a subpar product with a terrible user experience. Keep in mind that the goal of creating an MVP is to test your product’s viability using the fewest features possible. What is the most straightforward method to give a high-value experience while also gathering the most user-validated learnings? Avoid the pitfall of creating a dozen mediocre features when you truly just need two killer ones.
2. Adding a lot of features
Another risky pitfall many businesses make while creating an MVP is feature creep. This is the point at which the number of features you intend to build starts to get out of hand. To put it another way, you give it all. It may happen for a number of reasons. Perhaps you feel compelled to add a feature since your rival already has one. Or perhaps, even if it isn’t necessary to demonstrate your value at the MVP stage, you simply “have to” implement that cool feature. Feature creep can be harmful. Your expenses and time to market both go up as a result.
3. Sacrificing Security & Privacy for a Shorter Time to Market
This point is worth mentioning in and of itself even if it frequently results from focusing on the “minimum” rather than the “viable.” Speed is crucial when creating an MVP, indeed (as I will cover in just a moment). However, you cannot compromise on issues like security and privacy in your rush to the market. In addition to the obvious moral and ethical problems, it might kill your startup as well as your product. No matter how little the risk may seem, never endanger your customers. Before launching your MVP, make sure it is safe and that you have taken all reasonable steps to safeguard the privacy of your consumers.
4. Moving Too Slowly
As I previously stated, establishing an MVP requires speed and a quick time to market. The likelihood that your competitors will outperform you increases the longer it takes you to reach the market. Speed is important not only when launching your MVP, but also when iterating. As a young startup, it’s crucial to make use of your agility and capacity for swift pivots. Launch your MVP as soon as you can (avoid point #1), take note of user feedback, and then make the necessary adjustments to make your users' experience better.
5. Building for Everyone
Your product should be created to address a particular user’s issue. In other words, you’re not trying to win over everybody. If your value proposition aims to be applicable to everyone, you run the danger of it being irrelevant to others. The end consequence will be a poor user experience and little to no adoption of the product. Your value proposition should instead be geared toward a more specialized user base that has a particular issue. This is the most effective method for collecting focused, top-notch input that can properly guide your product plan going ahead (your marketing person will thank you too.)
6. Not Working With the Right Team
People are, arguably, the most important aspect of your startup. And having the wrong people building your MVP can be a fatal mistake for your startup.
By this I mean, advisors, mentors and, if you’re not a technical founder, technical stakeholders.
The team you work with has the most impact on your MVP. Having a professional and knowledgeable team can boost your MVP to a greater level. EWN Bangladesh’s state-of-the-art product management and analytics team will make every effort to comprehend your needs.
7. Ignoring User Feedback
Even though it might seem obvious, pay attention to the feedback that your users begin to give you. This frequently occurs when founders are excessively preoccupied with the product they want to create rather than the issue they want to address. You risk creating a product that no one wants if you don’t pay attention to consumer feedback. This will result in little to no traction and low adoption rates, and it won’t take long for your startup to fail. Never lose sight of the purpose of creating an MVP, which is to determine whether the proposed solution would in fact help your target audience. Listening to the users of your MVP is the only way to learn the results of that test.
These are just a few of the blunders people make frequently when creating an MVP. The truth is that creating an MVP has a lot of challenges, many of which are situation-specific. So, my suggestion for avoiding errors is to:
- Establish and focus your value proposition. What issue do you hope to resolve? How then? Why is this a better method of solving than any others?
- Build with quality but in a little space. Select the fewest features possible while still producing a useful product, but make sure they are constructed to a high standard with security and privacy at their core.
- Only build features that test your value proposition – anything else can wait until you know that people want your product.
- Don’t wait too long to start building; neither your rivals nor the market will wait for you.
- Make sure you are working with experts who know their onions, whether they are in-house or from a third party. Surround yourself with the best talent you can find.
- Remember to pay attention to user feedback; without them, your product won’t be successful. Your goal is to answer their problem better than anybody else on the market.
Thanks for reading.
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