6 reasons why MVP Development is important for Lean Startup Strategy
By this time, All of us understand very well how important it is to build an MVP for your startup to save the cost and test your amazing idea in the market. MVP Development is at the core of Lean Startup Strategy for a Startup. It can prove to be the most important tool apart from money & customer which can help your startup catapult towards success.
But when we think why, We mainly try to focus on the cost factor.
Actually, there are many more benefits of MVP development for your lean startup than just saving costs. Today I am going to list the 6 most important reasons for you to focus on your MVP development rather than building the product straight away. But before that, I am going to give a little management lesson here.
There is a concept in product development called “Spaghetti Tower Marshmallow Challenge” which teaches you the importance of MVP development more than anything. Now people with MBA other specialized training may instantly recognize the importance of lessons it gives but for a regular dreamer like you and me it’s something special.
If you analyze the results with the Lean Startup strategy in mind, You will notice that Marshmallow is your market. And earlier you put the marshmallow on top, the easier it will be for your tower to handle the load. But if you be creative, You can go higher and higher. Now the tower is your product, So you should only be building up to a level that you can comfortably launch to the market, and then based on the feedback, You re-iterate and build a better version. Sometimes, You even pivot in a different direction but based on the market feedback.