Minimum Viable Product development Outsourcing in Vietnam
What is Minimum Viable Product development?
A minimum viable product (MVP) is a simplified, yet launchable version of your product. Early adopters are able to test its basic features and provide critical feedback for future development.
Developing an MVP has many advantages, especially for startups. It allows you to validate your idea, verify certain business assumptions, or test the market with minimum investment. Think of it as the sweet spot between ROI and risk.
Afocus is here to assist you through every stage of the process, from conception to launch and beyond.
Launch faster – It may take as little as 2 weeks or around 6 months to launch your MVP
Spend less – MVPs can be launched at a fraction of the cost of the final product
Key benefits of building an MVP
Compared to a full-scale project, you can launch an MVP at a fraction of the initial investment.
MVPs offer you a golden opportunity to test your idea in a real market that you may not otherwise have access to.
Minimum time to market
MVPs can be developed fairly quickly, allowing you to bring your idea to market as soon as possible.
The early users will provide you with key feedback for further developing and refining your idea.
The income generated from your MVP can be used for further development, paving a way for future growth.
Transforming your idea into reality is an impressive way to attract investors and receive funding.
WORK WITH US
Why hire an MVP agency?
The entire development process is tailored to the needs of your business. We make every effort to understand those needs prior to any work.
We have a deep understanding of the entire product lifecycle and we’ll leverage this knowledge during the development of your project.
To establish full confidentiality, we’ll sign a non-disclosure agreement (NDA) before any development begins, if required.
Since great communication is a key value of ours, we endeavour to respond to all emails and enquiries within 24 hours.
What is an MVP?
A minimum viable product (MVP) is a simplified, yet launchable version of your product. It is a market-introduction version of your idea that allows early adopters to test its basic features and provide critical feedback for future development. Launching an MVP gives you the opportunity to validate your idea, verify certain business assumptions, or test the market with minimum investment.
The term “minimum viable product” was popularized by Eric Ries, founder of the Lean Startup methodology. On his blog, he defines an MVP as a “version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.”
According to Ries, the primary purpose of an MVP is to learn how the market will actually respond to your product, without fully developing the product. Once you have gained an understanding of what resonates with your target market and what doesn’t, you can strategize the best way forward. If the MVP is successful, you can determine further iterations. If it is not, then you have spent the least amount of resources on a product that is unlikely to succeed. With this approach, you may end up with a product that is dramatically different from the MVP, or you may even abandon the idea altogether, based on the feedback you receive.
Why do I need an MVP?
Transforming your idea into reality (albeit a small-scale version) is a great way of testing the market, gaining early feedback, initiating income generation or attracting investors. You should consider an MVP if you meet any of the following criteria:
Market testing is required.
You may be unsure of how the market will respond to your idea. In such cases, an MVP allows you to test your idea in a real market that you may not otherwise have access to. You can then use the market’s response to inform future development.
Feedback is crucial for further development.
If your idea is fairly abstract, the early users of your MVP will provide you with necessary feedback for further developing and refining your idea. You can use this feedback to make informed decisions regarding necessary, unnecessary or missing features, that will guide future development and allow the product to reach its full potential.
There are budget constraints.
An MVP is a cost-effective solution to app development. Because an MVP is a small-scale version of your idea with only key features, it can be developed at the fraction of the cost of full-scale development.
You need to launch as soon as possible.
MVPs can be developed fairly quickly, which means you can launch your idea to the public as soon as possible. This means you can stay ahead of competitors, attract investors and initiate income generation.
How much time MVP development will take?
It may take as little as two weeks or up to six months to launch your MVP, depending on your specifications.
There are many variables to take into account when developing an MVP, such as design complexity, range of functionality, the size of the development team, and the resources available. Generally, the more elaborate the idea, the longer it will take to develop. Another factor to consider is how defined your idea is. If your idea is really abstract, we will need to allocate some time to performing research and defining the scope of the project. If you provide us with extensive details and research, we will be able to get started on development sooner.
Our MVP development process has five stages. The first two stages are dedicated to refining your idea and defining the product’s core features and functionality. If your idea is relatively well defined and you have already performed the necessary research, then these first two stages could be the shortest. On the other hand, if you have not done any preparation before contacting us, they could be some of the most time consuming stages. The majority of our time is usually spent on stage four: development and testing. The duration of each stage will vary from project to project, but here is a general guide:
Stage 1: Idea discovery: 1 week – 1 month
Stage 2: Scoping and research: 2 weeks – 1 month
Stage 3: Proposal and prototyping: 1 month – 3 months
Stage 4: Development and testing: 1 week – 6 months
Stage 5: Launch and support: Indefinitely
Will you sign an NDA?
Of course! In fact, we recommend signing a non-disclosure agreement (NDA) for most app development projects. Protecting your confidential information and intellectual property is of utmost importance to us.
NDAs are synonymous with modern app development. Essentially, an NDA is a legally binding contract that ensures any sensitive information will not be disclosed to third parties. They can be used to protect the confidentiality of the concept, design and code of an MVP application. An NDA can also prevent the development team from sharing your idea or concept with other clients or competitors.
If you decide to enter into an NDA, it’s important to ensure that it is tailored to your specific needs and that it includes clear definitions of what constitutes confidential information, and what the obligations of the parties are. It’s also important to consider how long the NDA will be in effect and whether there are any exceptions or exclusions.
Although NDAs are not always necessary, they are highly recommended, especially for emerging startups with innovative ideas. If you share your app idea with someone without an NDA, there is nothing preventing them from stealing the idea from you. Needless to say, this would be devastating for any startup. Most app development companies encourage entering into an NDA to protect your interests, as well as theirs. No matter how big or small your idea is, it is paramount to find an app development partner that values your confidentiality as much as you do.
How much should I budget for an MVP app?
One of the key advantages of developing an MVP is the shorter development timeline, which can be more cost-effective. However, suggesting an accurate budget for your MVP project can be challenging as it really depends on the nature of your project. The degree of complexity plays a significant role in determining the overall cost, as well as the size of the development team, the technology used, the design and the user experience.
Typically, the investment cost of a software-based MVP is a fraction of the final product cost. Some MVP cost as little as $10,000 to develop, while others can cost $100,000. As an estimate, two months of full-time MVP development with a team of seven members would cost approximately $56,000. We value simplicity and transparency in everything we do, including our pricing, so this would be calculated as follows: 8 hours per day x 5 days = 40 hours per week x 4 weeks = 160 hours per month x 2 months = 320 hours x $25 average hourly rate = $8 000 per team member x 7 members = $56,000.
Our pricing model is straightforward and easy to understand, with no hidden fees or surprises. We believe that by being transparent about our pricing, we can build trust and long-term relationships with our clients. Additionally, by keeping our pricing simple, we can focus on delivering the best possible service to our clients. We pride ourselves on being a reliable and affordable option for app development services, therefore we strive to make the process as seamless and as stress-free as possible.
You can view our pricing page here.
How far does my ownership extend?
When you hire a software development company to create an MVP (or any app) it is vital to understand your rights pertaining to the app after development.
When entering into an agreement with Afocus, you have full ownership of the entire project (including the NDA, code, design and intellectual property) unless otherwise stated.
Full ownership of an app is fundamentally different from merely obtaining a license to use the app. Possessing full ownership ensures that all intellectual property generated during development will be assigned to you upon completion. Due to the evolving nature of MVPs, this is a critical consideration. We usually make this provision in an intellectual property clause in our development agreement. However, we may also sign an additional agreement, such as an intellectual property assignment agreement. This guarantees that your intellectual property is fully secured and it gives you the freedom to use, modify or extend the app in any way you see fit.
There are a few significant benefits to possessing full ownership of your MVP:
Customization and scalability.
Having full ownership of your MVP app gives you the independence to make strategic decisions about the app’s future development. It gives you the flexibility to customize the app to your specific needs, and scale the app as your business grows. You can make any changes to the code, add new features or make updates at your own discretion.
Branding and identity.
With complete ownership, you have the ability to fully brand the app with your own unique identity, which can help increase brand recognition and customer loyalty. This is highly beneficial, as it eliminates any branding limitations that may be imposed by license agreements.
As the owner of the MVP, you have total control over the development costs, as well as any future costs associated with updates and maintenance. In contrast, MVP software licenses usually require ongoing fees and incur additional costs for maintaining and updating the app.
What is needed from me to get started?
Essentially, all we need is your idea and we will guide you through the rest!
Before we can start developing your MVP, we will need a clear idea or concept of what you want to build. If your idea is still in its infancy, we can work with you to refine it and define the MVP’s core features and functionality. This will involve some research to gain an understanding of your target audience, identify key pain points, as well as determine the critical components that will set your MVP apart from the competition.
Once your idea is clear, we will create a detailed project plan that outlines all the work that needs to be done to bring your idea to life. This will include a breakdown of the estimated costs, timelines and milestones for you to review and sign before we begin.
If you accept our proposal, we will start assembling the development team, which may include designers, developers, project managers and quality assurance experts, depending on the requirements of your MVP. Once the team is in place, we will begin development and keep you updated on our progress throughout the project.
Contact us to schedule a meeting.
Which locations do you work in?
At Afocus, we understand that creating a successful app requires a great deal of expertise, hard work and dedication. That’s why we take great pride in our ability to offer top-notch services to clients all over the world. We are based in France and our highly skilled talent is sourced from Vietnam. This unique combination allows us to cater to a wide range of clients across different industries and markets, providing you with tailored solutions that meet your specific needs.
Relying on our strong European foundation and the expertise of our Vietnamese developers, we are able to successfully deliver high-quality, innovative and cost-effective app development services to our clients in the United States, as well as other parts of the world.