If done properly, releasing an MVP can be profitable for a business. This is the way you present your product to the world in a way that brings you profit. Besides, it provides the most important thing: real user feedback.
At the end of the day, we must not forget that it’s users who make your product a success or a failure. Thus, an MVP is based on this concept.
However, some misconceptions regarding MVPs can cause this strategy to backfire. Let’s review some of these.
Startup Vs Non-Startup MVP Approach
MVPs are not only useful for startups!
A common misconception is believing that minimal viable products are only used by startups. This is not necessarily so. The main goal of an MVP is to introduce a new product or feature into the market, which is why it is usually linked to new companies.
Nonetheless, long-running companies can make use of this tool as well. Let’s picture an online store that wants to release a mobile app. They, too, can benefit from the early user feedback an MVP provides.
Prototype Vs MVP: Is an MVP the same as a prototype?
Such a misconception can lead a project to failure almost immediately. Not differentiating these two concepts is a big mistake. While a prototype is a presentation of a product, an MVP is its minimum usable version. The MVP will be available on the app stores and used by real people. Think about it like this: a prototype is what you would show investors to get them to back your project. An MVP, on the other hand, is a version of your software that will be used by consumers. Thus, the MVP’s sole purpose is to test its market acceptance.
Minimum Lovable Product and Minimum Marketable Product
MLP: Do MVPs have to be stunning?
Not necessarily. If you want to create an emotional impact on your audience, then you need an MLP (Minimum Lovable Product). In this case, your test will not have the basic features, but the most important ones. The objective is to provide an impressive product that will create an audience of faithful followers. After all, many tech companies are offering similar features. Making a good impression is what can set you apart. The user experience here becomes key.
MMP: Is your product going to sell?
MMP stands for ‘minimum marketable product’. A minimum marketable product has the minimum features necessary to be sold. Is that the same as an MVP? No, it’s not, because the MVP’s purpose is not to be sold but to be tested.
After a series of MVP trials, you’ll know the basic functionalities that work and that users find useful. You can then offer a minimum product that people are ready to buy. That is where an MMP enters the picture.
When do you use managed services?
This strategy benefits developing your long-term project. People who don’t have time for management, training, recruiting, etc., also find managed services valuable.
Key Differences Between a Staff Augmentation Approach and Managed Services
To choose the best alternative, understanding the primary differences is vital. You may even need both at different stages of your project.
Time frames
While staff augmentation is ideal for start-ups that need to quickly grow and achieve their goals, managed IT services offer long-term solutions. The second option handles tasks that require permanent attention, such as maintenance, development, security, etc.
Flexibility
Staff augmentation is more flexible because you can add or remove personnel according to your
needs.
Cost
Staff augmentation is more cost-effective if you need to reach specific objectives within a particular time. However, management services are cheaper for long-term projects.
Management
The staff augmentation approach means you are adding people to your existing team. Hence, you will be responsible for recruiting, training, and supervising. You can delegate all this to your external team manager if you hire management services.
Security
Staff augmentation is safer since you have more control of the processes, passwords, admins, logins, etc.
Processes
While staff augmentation handles specific tasks and functions, IT services are better for developing solutions and management.
Why Choose Management Services Over Staff Augmentation?
Unless you have a start-up that needs to grow fast, management services are the best option. This method allows you to delegate time-consuming tasks, such as management, recruiting and supervising. Although more expensive at first, management services will save you money in the long run.
Nonetheless, hiring an outsourcing team is a critical decision. A longstanding relationship with a group of professionals can be beneficial or harmful. For instance, changing developers on an advanced project can result in a massive waste of money and a decline in efficiency. Before signing the contract, make sure you do your homework and find out how reliable the management service
is.
