MVP is an acronym for “minimum viable product,” which refers to a version of a new product with important features that makes it usable for new customers who provide a team with necessary feedback and future development. While a minimum viable product has enough features to be functional, it is not the final version. There are two ways to develop a minimum viable product. It can either be built in-house or outsourced.
Building minimum viable products in-house involves:
- Recruiting tech talents and putting them together.
- Coordinating.
- Managing a team to develop a successful product.
On the other hand, outsourcing a minimum viable product development involves hiring an already established team of remote developers and tech talent to develop your product. However, you must know where and how to hire remote developers for quality assurance. In this article, we will discuss signs that indicate your readiness to outsource your MVP development.
Reasons for Minimum Viable Product (MVP) Development
The following are reasons why companies may choose to develop a minimum viable product:
● To test a product idea with real public users. Creating a minimum viable product requires lesser production and marketing resources than the main product. Early users of your product can provide relevant feedback, which is necessary before allocating larger resources to the full development of the project.
● To attract potential customers and investors. By releasing a minimum viable product to the public, potential customers are gotten from people who engage with the product. They give feedback about their experience with the product, which helps to shape the full development of the final product. In addition, an MVP practically pitches the product idea to potential investors who might provide financial support if the MVP interests them.
● The development of an MVP ensures that the product hits the market in the shortest time possible. This ensures that the product reaches the target market in time for the feedback needed to make the necessary changes to the final product.
● Most importantly, MVP development helps to save time and resources. The reaction of users to an MVP determines if there would be a full development of the final product.
Signs To Outsource MVP Development
Many famous companies, including Google, Alibaba, and Slack, have once outsourced their MVPs. The following are five signs that you are ready to outsource your MVP development:
- Budget constraints: If you have limited resources for MVP development, you should consider outsourcing the project to reduce costs. This way, you can spend less and still rest assured of the product quality.
- Excess projects: If you already have tech talents in the company working on other projects, they do not need to be distracted by MVP development, as you can always outsource such projects. In addition, outsourcing your MVP development ensures that the project gets the full attention it deserves.
- Expertise: Some stages in your MVP development may require expertise you do not possess. Therefore, if you lack the knowledge or your company does not have experts to develop your MVP properly, this is a sign that you may need to outsource your MVP development.
- Deadlines: Outsourcing your MVP development leads to a rapid turnaround time. That is because the work gets divided between a team of professional developers, and you get the highest quality within the shortest time. Recruiting tech talents for an in-house MVP development might waste time compared to outsourcing to an already established skilled team of developers.
- Diversify risks: By outsourcing your MVP, your team would be able to focus fully on the business side of your product development. That will result in more productivity while the outsourcing company takes care of product development. However, for quality, you can still choose to be involved in some aspects of product development.
Read more articles on JayDevs.
