In every startup founder’s journey, there comes a crucial point that feels like walking a tightrope. The path forward is uncertain, where successful opportunity and danger coexist. This is the beginning of entrepreneurial journey.
And like every great success, it begins with a question: Which path leads to success? The choice is to build a Minimum Viable Product (MVP) and try out or leap the head first into developing a full-fledged product.
Consider a Movie trailer, it is like an MVP for a film. It showcases the most fascinating aspects of the film, such as key scenes, main characters, the cinematic tone and atmosphere.
The trailer’s purpose is to generate interest, build anticipation, determine audience reaction. The response to the trailer provides valuable feedback to filmmakers, helping them to refine their marketing strategy, guide on more creative choices for better film outcomes.
The MVP Path
An MVP is the simplest version of your product that includes only the essential features necessary to satisfy early users and provide feedback for future development. This approach helps startups to validate product ideas quickly and efficiently.
Think about Dropbox. Instead of building complex file syncing infrastructure straight away, they made a demo video and released it. where the video clearly explained the concept of their cloud storage platform which went viral overnight and drew in thousands of users. This response from viewers validated the need for their product without writing a single line of functional code.
Why founders choose the MVP path?
- Cost efficiency: It just focuses on building the core part alone, building less means spending less.
- Focus: MVP forces only the clarity of the products core value.
- Market validation: Tests the product whether it is fit for market before full development of the product.
- Speed: MVP helps startups to enter the market very quickly.
MVP is not just for tech companies. Consider Facebook, in its earliest days Mark Zuckerberg launched a platform called TheFacebook, where only students at Harvard University were allowed to use it, which was a very limited version of the platform. The users were allowed to create profiles, post photos and connect with others in their college.
None of the features that we see on Facebook today existed before, it was so minimal. The core idea was digital identity and social connectivity. The MVP focused only on the core idea, how students could identify themselves online. The college students used it and like it, which proved that the idea worked. Eventually Facebook become the world’s largest social network. The MVP validated the core idea and helped by setting the stage for Facebook’s massive expansion.
So MVP is like a practice battle before the real war.
The Full Product Path
Now picture a hero who has to dive into a deep sea. Instead of analysing about the sea, she dives into deep end. Similarly the full product path is for those who believe their idea can solve real life challenge, flawless and can bring impact right from the start.
Consider Apple, they have never launched MVPs. Apple invested their time, to design, engineer and they delivered a complete product that was always desirable.
Why do some founders choose the full product route?
- If there are already similar products out in the market, then launching an MVP might not stand out.
- If you already know that the product has high demand in the market or if you know that there is broad customers who shows interest, launching a full product is appropriate.
- If people sees a fully functional and well designed product, people are more likely to trust the brand and see it way more professional and reliable. It helps to position the brand.
However, this path is very risky. A full product requires greater investment of money, time and energy. Failing to deliver the needs can lead to a harder fall.
Common challenges on each path:
MVP pitfalls:
- Feature blindness: There is this thing in MVP, cutting too much and just focusing on the core can limit the user experience.
- Feedback overload: Users may also request for featured that deviate from the vision of the project.
- Poor design: Even if the MVP is good at its functionality, a poor interface can drive users away. But making it well designed can engage users and can retain them.
- Launching too soon: MVP should be minimal. If it is too buggy, then users might not appreciate the idea even if it’s great.
Full product pitfalls:
- Over investment: Investing a lot of money, time, efforts before the product fits the market.
- Time loss: Investing a lot of time to build the product while other competitors are testing and learning feedbacks.
- Delayed launch equal to miss opportunity: Spending months and years to perfect a product can make you miss the ideal time to launch, especially if competitors work faster or the market shift. Sometimes they are not used to updated things.
- No user feedback: During the development process no real user gives feedback, builders make decisions based on assumptions on user needs and behaviour. This may cause massive downfall if the assumptions were proven wrong.
- Mentors might be advisors, or collective wisdom of the startup community.
Here’s what they say:
“Build something people want. Fast.”- it was told by Paul Graham, Y combinator.
“If you are not embarrassed by the first version of your product, you’ve launched too late.”- it was told by Reid Hoffman, LinkedIn.
Conclusion
Startup companies begin their entrepreneurial journey with a question: MVP or Full product? In this blog you have read many characters, learned from legends.
The answer for what should I choose MVP or full product completely depends on your resources and your market. But always remember if your product needs validation, learning and if you are unsure about the startup go with an MVP. If your users demand is clear and solid backing then go for full product development.
Every successful and great company began with a bold step into the uncertain future. It depends on you, whether you launch with simple version or a full featured platform, what matters is that you took the leap and entered the arena.
