- 2024
- Susan McNicholl, Solution Architect Lead at BoatyardX
Whether you are a startup or a large corporation, it’s likely you will face many of the same challenges in building the first version of a new product or application. We explore some of the critical success factors and lessons learned from supporting a broad range of clients in bringing new products to life.
MVP Mindset – Focusing on Value
Team – Diverse, Experienced Teams lead to better outcomes
Bringing new products to life and taking a concept from idea to MVP is challenging and requires a diverse set of people and skillsets. Teams that have done this before will be more resilient in the face of challenges, as they benefit from real-world experience and an understanding of the risks and pitfalls they are likely to face along the way.
A mix of product, design, technology, and commercial skills is required, and within that team, it’s important to have a diverse blend of realists, visionaries, creative thinkers, and doers. Knowing your team’s strengths and identifying any gaps will enable better decisions on how, where, and when to augment the team to achieve success. The earlier gaps are identified and addressed, the greater the impact on the outcome.
Technology Selection – Keep it Simple
The Balancing Act Between Value, Quality, Speed, and Cost
Building an MVP is a constant balancing act and a series of trade-offs between value, speed to deliver, quality, and cost. Every decision is under the microscope, and rightly so, but cutting too many corners will hurt in the long term. Here are a few things to watch out for:
- User Experience
Users want a product that solves a problem and works as expected. Therefore, it’s better to build fewer features but build them right. Performance issues, bugs, and a poor user experience will have a greater impact on users than having fewer features. Remember that users don’t know what’s on your roadmap, only you know something is missing. Depending on the customer segment, product type and market, you might only get one shot, and unhappy users typically won’t return.
- Technical Debt
Opting for the cheapest, quickest solution may, at worst, leave you in a position where you need to rebuild entirely with the delays and additional costs that entails. At best, you may have to reinvest heavily in refactoring, which will impact the cost of developing new features and enhancing your product. Where you do make this choice intentionally, know the risks and have an exit plan.
MVP delivery is a challenging and rewarding journey, whether in the context of a startup or a large organisation. By embracing a value-centric MVP mindset, choosing the right technologies, and assembling an experienced team with the right mix of skills from day one, you set the stage for success. Remember, simple is often better, and a well-balanced approach to product, design, and technology is the key to achieving your goals.
The BoatyardX Discovery framework is a great starting point – contact us to learn more.
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