{"id":13809,"date":"2022-09-03T14:15:26","date_gmt":"2022-09-03T11:15:26","guid":{"rendered":"https:\/\/${domain}\/blog\/?p=13809"},"modified":"2024-07-17T21:42:48","modified_gmt":"2024-07-17T18:42:48","slug":"mvp-minimum-valuable-product-how-to-evaluate-your-business-idea","status":"publish","type":"post","link":"https:\/\/${domain}\/blog\/mvp-minimum-valuable-product-how-to-evaluate-your-business-idea\/","title":{"rendered":"MVP (Minimum Valuable Product) &#038; How to Evaluate Your Business Idea?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Have you just come up with a cool business idea? Good news is, it can bring you millions of dollars. While bad news is, launching its full-scale development could be a fatal mistake.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to Harvard Business School, each year over 30,000 new consumer products are launched, while 95% of them fail. You can see roughly the same situation in B2B. So, how to avoid that?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The answer is testing your idea on the market with an MVP. Today we will go into detail about:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">What <\/span><span style=\"font-weight: 400;\">MVP stands for<\/span><span style=\"font-weight: 400;\">;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Why an MVP stage is a must;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">How to create a minimum valuable product.<\/span><\/li>\n<\/ul>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-white ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69f0dbfeb35d3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69f0dbfeb35d3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/${domain}\/blog\/mvp-minimum-valuable-product-how-to-evaluate-your-business-idea\/#What_Does_MVP_Stand_for\" >What Does MVP Stand for?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/${domain}\/blog\/mvp-minimum-valuable-product-how-to-evaluate-your-business-idea\/#Why_MVP_Is_a_Must\" >Why MVP Is a Must?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/${domain}\/blog\/mvp-minimum-valuable-product-how-to-evaluate-your-business-idea\/#Step-By-Step_Guide_To_Plan_A_Minimum_Viable_Product\" >Step-By-Step Guide To Plan A Minimum Viable Product<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/${domain}\/blog\/mvp-minimum-valuable-product-how-to-evaluate-your-business-idea\/#Things_to_Remember_When_Working_on_Your_MVP\" >Things to Remember When Working on Your MVP<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/${domain}\/blog\/mvp-minimum-valuable-product-how-to-evaluate-your-business-idea\/#Top_3_Real_MVP_Examples\" >Top 3 Real MVP Examples<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/${domain}\/blog\/mvp-minimum-valuable-product-how-to-evaluate-your-business-idea\/#Summary\" >Summary<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Does_MVP_Stand_for\"><\/span><span style=\"font-weight: 400;\">What Does MVP Stand for?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The abbreviation stands for a minimum valuable product. Here\u2019s the <\/span><span style=\"font-weight: 400;\">MVP definition<\/span><span style=\"font-weight: 400;\"> \u2014 it\u2019s a minimum viable version of a product that allows you to <\/span><b>test your ideas, evaluate the market,<\/b><span style=\"font-weight: 400;\"> and <\/span><b>get meaningful feedback from users<\/b><span style=\"font-weight: 400;\"> to understand their needs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This can be a minimal <\/span><a href=\"https:\/\/weblium.com\/landing-page-website-templates\"><span style=\"font-weight: 400;\">landing page<\/span><\/a><span style=\"font-weight: 400;\">, an online store with limited functionality, an application with just a couple of functions, and so on.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">MVP is by no means a raw product made in a hurry. It <\/span><b>takes a minimum of time to develop<\/b><span style=\"font-weight: 400;\">, and contains only key functions, whose relevance should be assessed by real users.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-13810\" src=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-800x437.png\" alt=\"mvp\" width=\"800\" height=\"437\" srcset=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-800x437.png 800w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-320x175.png 320w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-768x419.png 768w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-418x228.png 418w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7.png 1344w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_MVP_Is_a_Must\"><\/span><span style=\"font-weight: 400;\">Why MVP Is a Must?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The MVP concept allows you to <\/span><b>shorten the project launch time<\/b><span style=\"font-weight: 400;\"> by <\/span><b>creating only the necessary functions<\/b><span style=\"font-weight: 400;\"> and <\/span><b>start getting real customers\u2019 feedback<\/b><span style=\"font-weight: 400;\"> on your product.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An <\/span><b>MVP stage reduces development costs<\/b><span style=\"font-weight: 400;\"> and also reduces the<\/span><b> risks of financial failure <\/b><span style=\"font-weight: 400;\">as a result of undesirable product delivery to the market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When you get enthusiastic over your business idea, it is very easy to get carried away and plunge into the creation of an ideal product from your point of view and working on it for many months. But after you spend months and thousands of dollars, it may turn out that no one needs your product. MVP will save you from this.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That\u2019s why you really <\/span><b>need to build MVP<\/b><span style=\"font-weight: 400;\"> to <\/span><b>avoid your startup failur<\/b><span style=\"font-weight: 400;\">e as well as <\/span><b>save your money and time<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Step-By-Step_Guide_To_Plan_A_Minimum_Viable_Product\"><\/span><span style=\"font-weight: 400;\">Step-By-Step Guide To Plan A Minimum Viable Product<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">To create an MVP, you should first do the groundwork: define the criteria, make a plan, identify the features of the product you will create, etc. Follow our step-by-step plan below to learn more about all these stages.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-13811\" src=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-2-800x437.png\" alt=\"Step-By-Step Guide To Plan A Minimum Viable Product\" width=\"800\" height=\"437\" srcset=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-2-800x437.png 800w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-2-320x175.png 320w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-2-768x419.png 768w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-2-418x228.png 418w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-2.png 1344w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<h3><span style=\"font-weight: 400;\">1. Identify Your Business Needs<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">You must understand what kind of product you are creating and for whom \u2014 your target audience. Answer yourself clearly to the question \u201cWhy are we making this product?\u201d Define long-term goals, write them down, and set criteria by which you can understand how successful your product is.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">2. Map Out Your Users Journey<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A user journey is a path that your customers go through when interacting with your product. It should be logical and understandable.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While developing your user journey map, you get a ready-made guide with specific content and design requirements. You need to understand what customers want from your product and what they\u2019ll gain as a result of using it. It\u2019s very important.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Determine who your users are.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Define the end goals.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Determine what actions your user must take to achieve the end goal.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Next, for each action, you need to design a so-called \u201cpain and gain\u201d map. To do this, write down what barriers your users may encounter and what are the gains for each action.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Summarize this data and describe how you can solve user problems with your product. This will give you the opportunity statements.<\/span><\/p>\n<p><a href=\"https:\/\/app.weblium.com\/signup?utm_source=en_blog&amp;utm_medium=article&amp;utm_campaign=banner_article\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-20566\" src=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2024\/01\/2.2-800x178.png\" alt=\"\" width=\"800\" height=\"178\" srcset=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2024\/01\/2.2-800x178.png 800w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2024\/01\/2.2-320x71.png 320w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2024\/01\/2.2-768x171.png 768w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2024\/01\/2.2-418x93.png 418w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2024\/01\/2.2-1080x240.png 1080w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2024\/01\/2.2.png 1518w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<h3><span style=\"font-weight: 400;\">3. Decide What Features You Will Develop on the MVP Stage<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Use opportunity statements to determine which features are important for your MVP. Provide a breakdown of these features and include them in the product roadmap. Prioritize which features you will focus on first. To do this, you can use a prioritization matrix or any other method you like.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">4. Start Developing Your MVP<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Get started developing your MVP. Check your plan from time to time. Also, remember that the development process shouldn&#8217;t take long. It will be tempting to add a couple more features to your MVP, but stay away from that.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the MVP stage, your goal is to create a minimum viable product in order to simply test your idea. So don&#8217;t waste too many resources and don\u2019t try to add all the cool features you want to have in the final product.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-13812\" src=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-1-800x437.png\" alt=\"Start Developing Your MVP\" width=\"800\" height=\"437\" srcset=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-1-800x437.png 800w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-1-320x175.png 320w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-1-768x419.png 768w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-1-418x228.png 418w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_7-1.png 1344w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Things_to_Remember_When_Working_on_Your_MVP\"><\/span><span style=\"font-weight: 400;\">Things to Remember When Working on Your MVP<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Before starting the MVP development and launching it on the market, there are some important points to consider:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Don&#8217;t waste too much money and effort.<\/b><span style=\"font-weight: 400;\"> MVP is needed just to reduce the time and resources to quickly test your business idea. Take the shortest path for this.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Inform your audience about the product at the MVP development stage<\/b><span style=\"font-weight: 400;\">. This way you are guaranteed to get the first users who will happily test your product and, most likely, become your early adopters.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Do a pre-sale<\/b><span style=\"font-weight: 400;\">. For example, you can use crowdfunding platforms or start selling your product in a shortened version. Pre-sale lets you know for sure if people are ready to pay for your product.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Interview your users regularly<\/b><span style=\"font-weight: 400;\">. Ask them what they like and dislike about your product, what features and updates they want. Moreover, feedback should be systematic. Collect all reviews and testimonials, summarize them, and use them for further work on your product.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Create a landing page<\/b><span style=\"font-weight: 400;\">. It should contain your product description and its functions, as well as a registration form with free and\/or paid solutions. With Weblium site builder, you can create your MVP website very quickly with all the needed features.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Advertise your product on social media<\/b><span style=\"font-weight: 400;\">. Facebook, Reddit, and YouTube will be effective channels for getting a large stream of early adopters. We also recommend blogging on Weblium or Medium. That\u2019s how you inform readers about your product and eventually convert them into buyers.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Launch a paid ad campaign<\/b><span style=\"font-weight: 400;\">. Set up several narrow user segments, test hypotheses, and find the most effective advertising options. A beautiful landing page created or site on Weblium will come in handy here. Besides, sooner or later, you\u2019ll need to create the website anyway.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><strong><a class=\"button\" href=\"https:\/\/app.weblium.com\/login?lang=en\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Create Landing Page<\/a><\/strong><\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Use Alpha and Beta Testing<\/span><\/h3>\n<p><b>Alpha testing<\/b><span style=\"font-weight: 400;\"> is the earliest testing stage of your MVP by a small group of people, usually, friends or family. If all the functions work properly and most of them like your product, you can invite real users to test your MVP for a couple of weeks. This will be <\/span><b>beta testing<\/b><span style=\"font-weight: 400;\">. Analyze all the feedback you receive and determine which features to add or remove to proceed from MVP to 1.0.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As you make product changes, test over and over again to control if users like your ideas. After all, your ultimate goal is to <\/span><b>create a product that users <\/b><b><i>will be willing<\/i><\/b><b> to pay for<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Top_3_Real_MVP_Examples\"><\/span><span style=\"font-weight: 400;\">Top 3 <\/span><span style=\"font-weight: 400;\">Real MVP<\/span><span style=\"font-weight: 400;\"> Examples<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Many companies that are now known all over the world started out with MVPs. Let\u2019s take a look at top 3 real MVP examples of huge companies. That\u2019s how you\u2019ll get a clue how you can build your own MVP following these examples.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Spotify MVP Example<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">For MVP, Spotify had just one feature designed: music streaming. First, a closed beta test was launched for the Windows platform. Following the success, the founders signed contracts with major record labels and began developing new features. Today, 60 million users have Spotify subscriptions, and the company&#8217;s value is roughly estimated at 8.5 billion US dollars.<\/span><\/p>\n<h4>\u00a0Spotify\u2019s MVP<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-13813 size-medium\" src=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/Blog_new_1-800x437.png\" alt=\"Spotify MVP Example\" width=\"800\" height=\"437\" srcset=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/Blog_new_1-800x437.png 800w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/Blog_new_1-320x175.png 320w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/Blog_new_1-768x419.png 768w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/Blog_new_1-418x228.png 418w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/Blog_new_1.png 1344w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<h4>Spotify now<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-13814 size-medium\" src=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_3-800x437.png\" alt=\"Spotify now example\" width=\"800\" height=\"437\" srcset=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_3-800x437.png 800w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_3-320x175.png 320w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_3-768x419.png 768w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_3-418x228.png 418w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_3.png 1344w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<h3><span style=\"font-weight: 400;\">Airbnb MVP Example<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Airbnb&#8217;s MVP was launched when its founders Brian Chesky and Joe Gebbia wanted to rent out their San Francisco apartment. They made a simple website and soon the first guests sent their requests. So the Airbnb founders saw that their idea was viable, and began developing a full-fledged platform. Now, the company is globally known with about 150 million users worldwide.<\/span><\/p>\n<h4>Airbnb\u2019s MVP<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-13815 size-medium\" src=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_5-800x437.png\" alt=\"Airbnb\u2019s MVP example \" width=\"800\" height=\"437\" srcset=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_5-800x437.png 800w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_5-320x175.png 320w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_5-768x419.png 768w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_5-418x228.png 418w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_5.png 1344w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<h4>Airbnb now<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-13816 size-medium\" src=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_6-800x437.png\" alt=\"Airbnb now example\" width=\"800\" height=\"437\" srcset=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_6-800x437.png 800w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_6-320x175.png 320w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_6-768x419.png 768w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_6-418x228.png 418w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_6.png 1344w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<h3><span style=\"font-weight: 400;\">Foursquare MVP Example<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Foursquare\u2019s MVP only included check-ins and badges that could be earned for visiting different places. After the successful MVP release, the developers began to expand the functionality, added recommendations, city guides, etc. Today this service is used by 50 million people, who have checked-in 8 billion times in total.<\/span><\/p>\n<h4>Foursquare\u2019s MVP<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-13817 size-medium\" src=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_2-800x437.png\" alt=\"Foursquare\u2019s MVP example \" width=\"800\" height=\"437\" srcset=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_2-800x437.png 800w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_2-320x175.png 320w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_2-768x419.png 768w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_2-418x228.png 418w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_2.png 1344w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<h4>Foursquare now<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-13818 size-medium\" src=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_4-800x437.png\" alt=\"Foursquare now example\" width=\"800\" height=\"437\" srcset=\"https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_4-800x437.png 800w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_4-320x175.png 320w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_4-768x419.png 768w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_4-418x228.png 418w, https:\/\/${domain}\/blog\/wp-content\/uploads\/2020\/09\/New_style_4.png 1344w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\"><strong><a class=\"button\" href=\"https:\/\/weblium.com\/apartment-website-builder\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Create an apartment webssite<\/a><\/strong><\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Summary\"><\/span><span style=\"font-weight: 400;\">Summary<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Now you know the <\/span><span style=\"font-weight: 400;\">MVP meaning<\/span><span style=\"font-weight: 400;\"> and how to create it. MVP can really help many entrepreneurs like you <\/span><b>save time, money, and nerves<\/b><span style=\"font-weight: 400;\">. The average duration of the MVP development is 2-3 months. That is, in a few months, you launch a product on the market that users can try and evaluate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, don&#8217;t forget that most of the post-MVP work is marketing activities. Without a good website and advertising campaign, no one will know about your MVP. On Weblium, you can <\/span><b>create a beautiful and functional website for your product in just a few hours<\/b><span style=\"font-weight: 400;\">, without hiring a designer or programmer. We also offer a huge number of integrations for tracking your users behavior. So, it\u2019s really a great solution not only for MVP stage, but for your business development and marketing campaigns as well.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We wish you the best of luck with your product development and remember: any famous startup was born from a cool idea!<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong><a class=\"button\" href=\"https:\/\/app.weblium.com\/login?lang=en\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Create Website<\/a><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Have you just come up with a cool business idea? Good news is, it can bring you millions of dollars. While bad news is, launching its full-scale development could be a fatal mistake. According to Harvard Business School, each year over 30,000 new consumer products are launched, while 95% of them fail. You can see &hellip;<\/p>\n","protected":false},"author":14,"featured_media":13819,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[95],"tags":[],"class_list":["post-13809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-startups","has-thumb"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MVP (Minimum Valuable Product) &amp; How to Evaluate Your Business Idea? - Weblium Blog<\/title>\n<meta name=\"description\" content=\"A full guide about what is a minimum valuable product with our examples. 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