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The Importance of Innovation in Creating MVPs

MVPProduct Development

The Importance of Innovation in Creating MVPs

Innovation is important for disruption and for an innovative disruption to occur, MVP is your best bet to make sure you are on the right track.

An MVP or Minimum Viable Product helps product owners and entrepreneurs create a proof of concept of their idea in a minimalistic way. It helps them give shape to their idea in a “no-frills” manner. At the same time, it provides a great framework based on which product managers, designers, owners, and other stakeholders can innovate and add further value to it.

While an MVP is a great idea to place in front of the investors to bring their attention to your idea, just having a product there on the table is not good enough. In today’s date, people, be it end users, stakeholders, or entrepreneurs, all are putting a lot of importance into the look and feel of each and every product. Product and service are not the only components end users are looking for anymore. Experience has a huge role to play in the entire matter.

Given this idea, the look and feel of a “no-frills” MVP, too, would need some innovative ideas to shine through to prospective investors. So how do you go about generating innovative ideas for your MVP?

While you would not want to spend a lot of your time or resources on your MVP, it might still be a good idea to do some brainstorming along with your product team and design team to find out ways you can make more out of your MVP.

Ideate with a fresh mind

The moment you put in a lot of restrictions and frameworks in place, you are not letting the best ideas to flow in. Even though your product and design team are working on creating the product, have them look at the MVP as an end consumer or as an investor. Let their minds smell some coffee beans and adopt a fresh perspective, altogether. Have them step out of their role as a developer or designer, so they can think without any bias.

It is understandable that focus group might not be a part of the MVP budget, so it makes sense if a team takes on the task and thinks of ways to make the product more experiential.

Never underestimate the power of words

When presenting your MVP, know that the content you back up your MVP with is what will help you sell it to your investors and to your end consumers. If the content on your MVP is fluid, be it an app interface, website, analytics dashboard setup, or any other product, then it will help your prospective investors to not only flow through it but understand it the way you want it to be understood. Innovation by way of good content helps your MVP speak to your investors and focus group in a way like never before.

Design using trending yet innovative techniques

Whether to swim with the current or against it is a question many of us have asked ourselves before. Well, truth be told, swimming with the current is always the easier option but might not be best. Given that even you feel some industry trends are doing well, you can always innovate. Do some research on the industry trends in the design of the type of product you are pitching.

Conduct a competitive analysis to find out what is working well with consumers. This will give you a good idea of what might work well, and then go a step beyond and innovate designs that add a personal touch to your offering.

An MVP might be a no-frills prototype, but by adding a good dose of innovative design thinking and content to it, you can improve the chances of your idea getting the accolades it deserves. Consult us today for a 30-minute consultation and find out how we can make your product idea, a reality.