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Road to Successful MVP Development: A Quick Guide
Avoid these 5 traps if you want to excel in MVP development.
For startups and founders, a Minimum Viable Product, or MVP, is the foundation of one's entrepreneurial pursuits. Its primary goal: collecting invaluable market data and attracting interest from stakeholders that can help transform an idea into a business.
5 Non-Technical Founders Who Changed the Tech Landscape
Non-technical founders who prove success in tech aren’t exclusive to the tech-savvy.
The world often shines a spotlight on the technical masterminds who bring groundbreaking innovations to life. But a large group of non-technical founders, armed with an unwavering vision, determination, and a willingness to learn, have also left an indelible mark on the tech world.
The Importance of a Proof-of-Concept for Software Development
Innovation comes down to thinking up an idea for something that doesn't exist yet. But before you can pour tons of money into building it, you should probably try to verify that it's even possible to build.
That's where a proof-of-concept (PoC) comes in. Usually, a PoC isn't intended to be a working product. Instead, it is intended to be more of a toy model for a future working product.
Building a PoC provides several benefits, including:
- Proving that your idea is feasible.
- Aligning goals with all stakeholders by creating a tangible example of your idea.
- Clarifying your vision by providing a model for the finished product.
- Selling your idea to investors who want to see that their money is going to be spent wisely. This is critical since 47% of startups in 2022 alone failed due to lack of financing.
Financial Transparency in Tech
In an increasingly connected world, financial transparency is becoming more and more important. Employees and stakeholders need to know the financials of their own companies in order to play a more active role in their development.
With rising interest rates and the toughest market in over a decade, tech firms in particular can benefit from improving their level of financial transparency. The collapse of several banks earlier this year illustrates this fact. Greater internal awareness could have mitigated its effects, and startups with greater financial transparency might have addressed their exposure to the collapse sooner.
A Non-Technical Founder’s Guide to Building a Tech Startup: From Development to Success
In my last article, I discussed what building a tech startup looks like before development begins. Because this is such a big part of the whole process, it shows how non-technical founders can bring their skills to the table.
In this article, I will cover what the rest of the process looks like: building an MVP and beyond.
Here are the main steps to consider during and after development:
- Building an MVP
- Navigating the development process
- Marketing and launch strategies
- Scaling and growth strategies
- Long-term maintenance and support