How to Plan an MVP: A Practical Guide

Planning a Minimum Viable Product (MVP) can be a daunting process, especially when you’re eager to bring your idea to life. But fear not—here’s a step-by-step guide to help you navigate the journey from concept to launch.

What Is an MVP, and Why Does It Matter?

An MVP, or Minimum Viable Product, is the first version of your product that includes just enough features to satisfy early users and gather feedback for future development. It’s your way of answering a critical question: “Is my idea worth pursuing?”

Think of it as your laboratory experiment, designed to test assumptions and gather insights without unnecessary clutter. With a well-crafted MVP, you’re not just building a product—you’re setting the stage for growth and innovation.

Step 1: Define Your Core Value Proposition

Before anything else, align on your product’s core value. What pain are you solving? Who is your target audience? The narrower and more specific your focus, the easier it will be to design and test your MVP.

Use this simple template to clarify your value proposition:

[Product Name] provides [Service] to [Customers] in [Environment] with a [Voice], helping them feel [Impact].

For example:
“RED-ID provides Design Sprints to Startups in a structured environment with a professional voice, helping them feel innovative and informed.”

Step 2: Understand Your Timeline and Budget

Budgeting often feels straightforward—you know how much money you have. But time is money, and as your project grows, complexities arise. Set clear and feasible timelines, keeping in mind factors like team costs, market opportunities, and investor expectations.

Pro tip: Don’t forget about go-to-market costs and maintenance. Supporting your MVP can be more time-consuming and expensive than you think. Always account for iterations—you’ll make mistakes, and that’s okay.

Step 3: Map Out the User Journey and Features

Outline the core use cases your product must support. For example, if you’re building a vacation booking app, you’ll need:

A filtered search.
Hotel details.
A booking process.

If direct communication with hotels is your differentiator, include it in your MVP. Use post-it notes or brainstorming tools to map out features and dependencies, ensuring nothing essential gets overlooked.

Step 4: Prioritize “Must-Have” Features

Identify the non-negotiable features that define your product’s core experience. Speed, for instance, was a game-changer for Google Search—it wasn’t just a feature; it was a promise.

Get your team involved. Let everyone vote on the most critical tasks, and finalize the list of must-haves to ensure alignment.

Step 5: Categorize “Should-Have” and “Could-Have” Features

Next, group the features that aren’t essential but would enhance the user experience. Evaluate their effort-to-impact ratio. Features with high impact but low effort should take priority in your should-have list.

For could-haves, consider items that can wait for future iterations. These features are nice-to-haves, not necessities.

Step 6: Create a “Won’t-Have” List

Here’s the tough part: deciding what not to include. A well-prioritized MVP must have a clear won’t-have list. Without it, you risk diluting your product’s focus and wasting resources. Share this list with your team to keep everyone aligned.

Final Thoughts: Start with a Design Sprint

If you’re unsure about where to begin, a design sprint can clarify your vision. Testing a prototype with real users before committing to development can save you time, money, and headaches.

Remember, an MVP is about starting, not perfection. Align your team, make tough decisions, and iterate as you go. It’s better to launch and learn than to wait for an elusive perfect moment.

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See you next time!