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The Structured Process Behind Developing a Successful MVP [2022 Guide]

If you're reading this, it probably means you’re considering a lean approach to develop your MVP. That’s a great first step.

But lean product development methodologies alone won’t cut it into today’s entrepreneurial landscape.

I know this because over the last ten years I’ve built my own startup (which crashed and burned), worked on dozens of MVPs with Altar.io and witnessed hundreds of other founder stories.

The hard truth is, building a successful MVP is not as simple as coming up with an idea and taking it to a team of developers or a software development company.

Before writing a line of code, you need to make everything you can to reduce the risk of that product becoming a part of the:

  • 42% of startups that fail because of no market need;
  • 19% that get outcompeted;
  • 17% that fail because they build a user-unfriendly product;
  • 13% who mistimed their product;

…you see what I mean.

A great idea is a good start, but if you want to have any chance of succeeding, it’s vital that you focus on the product from a business standpoint.

That usually starts with thorough research, from numbers on the market to competitor benchmarks or any other information that can help you turn your vision into a rock-solid value proposition.

From there, you set the main assumptions to prove and outline the journey your users will take through your product.

At this point, you’ll have all the information you need to create the ultimate list of User Stories and features necessary to prove the main assumptions in a Minimum Viable Product (MVP) or Proof of Concept (POC).

At Altar.io we call this The Product Scope.

Check out the article below for the full, step-by-step, process – starting with defining your stakeholders, and finding your value proposition.

The Structured Process Behind Developing a Successful MVP - The Full 2021 Guide

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