Designli's Game-Changing MVP Tactics Fuels Faster Product Launches

Agile software development agency Designli has helped startups launch their products at speed using SolutionLab, its proprietary prototyping process.

With Genchi and TrueLoadTime under its belt, Designli has proven the case for using Minimum Viable Products (MVPs) when launching a product successfully.

Genchi first rolled onto the scene as a software-as-a-service (SaaS) app that helps teams track and share their current status to improve collaboration and set better project outcomes.

It raised $220,000 during the first seed round and achieved its first revenue just one year later.

For Genchi’s founder, Rowland Savage, the SolutionLab turned his ideas into a fully fleshed-out product plan ready for technical execution, and this MVP was used to raise funds from angel investors.

The MVP-building process was simple: uncover the underlying complexities of the idea behind Genchi, and dissect each component. This approach helps determine the simplest way to deliver each feature.

Using SolutionLab, Designli has helped product companies validate their digital solution and launch faster since 2018.

But what makes an MVP different from any other prototype? While a typical prototype is a less-developed version of an idea (or a mock-up), an MVP presents a functioning or interactive product with only the core functions of the final product.

How does an MVP facilitate funding?

According to Designli, investors want proof that your product delivers results. An MVP provides a tangible example of this and proves that you can build a functional product that resonates with users.

Building an MVP demonstrates resourcefulness based on a data-driven approach, which creates an attractive investment opportunity that allows startups to gather feedback, make adjustments, and pivot quickly.

Since an MVP only consists of the core functions of the final product (without all the extra bells and whistles), a business can streamline and ensure product-market fit through valuable user feedback — which is what investors will base their final decision on.

Early-stage investors typically prefer companies that have demonstrated initial traction and user engagement. An MVP provides this, building investor confidence in the startup’s ability to see its vision through.

What does building an MVP entail?

Designli believes building an MVP should be relatively quick but no longer than four months. It is important to only focus on the key features first, as adding too many extras delays the validation of the business model.

• Step 1: Determine if your product ideas are worth pursuing by doing market research.
• Step 2: Outline your MVP's core functions and break them down into bite-sized development “sprints.”
• Step 3: Test your product with beta users to gain valuable feedback.
• Step 4: Time for product evolution and iteration. It is ready for investors but can still be adjusted.

Remember: an MVP is a genuinely user-centric product aimed at grabbing the attention of your target market. And while it isn’t the final product, it’s a great way to launch your product successfully and attract investment.