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Ideas Development: Our Financial analyst spent a week and prove that our idea has $15 Billion TAM.It is a Freelancers platform but in focus niche. What`s next? Start MVP
RC
RC
Ripul Chhabra, AI & MVP Expert answered:

yes, you should think about MVP, This model can save you money and increase your business. here are some insights which help you
(MVP) A minimum viable product is a specific type of product that has a satisfactory amount of features that should attract the consumers or people who have just started to use that. That also works for the product idea which is in the development cycle and yet has to be launched.

Especially when we talk about the software industry. The MVP technique helps the developers to collect feedback and use it to alter or add features to that product. The process of user interaction becomes one of the most important things for agile development under the umbrella of MVP.

Benefits of MVP
The main advantage of a minimum viable product is that you can get across your customers and knowing their interest is one of the most important things to bring success to your product.

When you as a developer start to find out about the customer’s interest and whether they would love your product or not then create the product according to them and it also helps eliminate the unnecessary items from the product. The minimum viable product can have certain reasons to exist;

The company wants to launch it in the market quickly
Checking the initial idea
Learning the response of target market and target audience

Analyzing Market Demands
MVP is as powerful as marketing, and it is indeed one of the best marketing strategies too. With the help of MVP products, we can figure out our potential target audience and users. We also check the demand of the market. And that is also a major purpose of the existence of MVP products.

Testing Usability
One of the main benefits of MVP is testing the usability of the app. According to the statistics many people keep using the app if they like the interface, however; 21% of people abandon the app on their first use. And experts suggest it is the user interface that they did not quite like. And MVP offers a great opportunity to know what kind of UI/UX people are searching for.

Defining MVP
Let us talk it further and get to know how you can develop an MVP product. And how would the developers know whether or not you have developed a Minimum Viable product which is working and now ready to set in the market? So let us discuss some strategies.

First of all the MVP product has to be aligned with the business goals. When you start to plan your MVP product, make sure it reflects the goals of your business. Thereafter you start to focus on developing features. From the beginning, you should map out the product features.

After working on your goals you can now work on the solution which you will be provided through your product, to do that you must make a strategy and to do that you need;

Proper market research
Analysis of your competitors
Receive feedback
Determine the cost to implement it
Make a development and action plan

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