MVP Development: Journey to Build, Test, and Grow Your Idea

MVP Development: Journey to Build, Test, and Grow Your Idea

The minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort. – Eric Ries, The Lean Startup

According to Harvard Business Review, most start-ups fail, with over two-thirds never giving a positive return to investors. But why do so many fall short? For many of them, this is because they spend too much time and money building features no one needs.

This is where the Minimum Viable Product (MVP) steps in. If you are wondering what MVP is, don’t worry! In this guide, we’ll walk you through everything about MVP, including how to build one.

What is a minimal viable product?

A Minimum Viable Product, or MVP, is the simplest version of a product that solves a real problem for users. As Eric Ries explains in The Lean Startup, it includes only essential features to test an idea, gather feedback, and make improvements.

DeepSeek is a great example of an MVP that prioritizes core features while reducing non-essential ones. In its January 20, 2025 R1 release, I observed its speed, accuracy, and reasoning stood out, even though some peripheral features weren’t as polished. This highlights that an MVP succeeds by focusing on its core value while leaving room for improvement.

Therefore, while developing an MVP, the focus should be on creating a functional version rather than spending months perfecting the product. You should refine it based on user insights to succeed. From our experience and study, we’ve found three core principles: 

1. Validating the problem before building
2. Building the smallest (prioritization) MVP
3. Iterate & pivot

Keeping these principles in mind, you may follow Lean Startup Methodology – Build, Measure, Learn to move forward with the MVP. First, you build a basic but functional product by validating the problem. Then, you should test it with real users and gather feedback. Finally, you analyze the collected data to learn users’ needs and to decide whether to iterate, pivot, or scale.

Why you need an MVP

Did you know? Seven Dreamers, a Japanese company, went bankrupt after launching a $16,000 AI-powered laundry-folding machine. They launched an expensive product without market validation or user feedback, and it failed. Users found it frustrating as such an expensive machine struggled to fold dark-colored clothes properly.

An MVP is essential to validate ideas and reduce risk before fully developing a product. It can help you test your concept before making any large investments. Here are some of the key industries and businesses that benefit the most by developing MVPs, but are not limited to:

• Startups
• SaaS Companies
• AI & Tech Companies
• Fintech & Banking
• Healthcare & MedTech
• E-commerce & Marketplaces

If you’re trying to build an idea into a product, an MVP mindset can be a game-changer for you. Why and How? Let’s find out in the later part of the post.

How MVP sets the stage for a successful product

Building a full product without testing is as risky as sailing a ship without a compass—you might move forward, but you have no direction, and the chances of failure are high. An MVP can prevent or mitigate the risk.

Let’s consider “Pathao” as an example here. The company CEO Hussain M Elius shared in an interview that they started Pathao in October 2015 as a small delivery experiment by offering services to friends through a secret Facebook group. Realizing potential, they built an MVP for ride-sharing, introducing motorcycle transportation culture in Bangladesh. At first, Pathao operated manually with just five bikes, scheduling rides through Excel, before launching their app in December 2016. By October 2017, they introduced Pathao Cars and launched Pathao Food in January 2018. Pathao grew from a small team to over 1,500 employees, with offices in major cities across Bangladesh and Nepal.

Pathao’s journey shows how an MVP leads to growth. They started with few resources and tested demand first. Then, they improved their services step by step. They moved from manual scheduling to an app. Later, they expanded into new sectors. This helped them grow into a market leader.

So, we can come to a conclusion that an MVP ensures businesses build what users actually need. It’s not about staying small, but scaling smartly based on real user validation.

5 Essential Steps to Succeed with Your Product

MVP is not just about launching a simplified version of a product. It’s about creating a structured path for continuous growth. Thus, following a structured process is key to success.

To illustrate this process, let’s take a closer look at how successful products are built. We’ll explore the key steps to follow, common challenges that may arise, and the strategies that can contribute to long-term success.

1: Identify the core problem

The first step to building a successful product is identifying the right problem that your users are facing. Many startups fail because they assume they know what users need, only to realize later that they were wrong. So, to validate users’ pain points, you must conduct structured research, observe user behavior, and continuously test the idea.

For example, if you want to create a new food delivery app, you must first understand what users dislike about existing services, I mean the users’ pain points. If users dislike late deliveries and high fees, a better design won’t solve their real problem..

Here are the proven techniques that can be used to identify real user pain points:

• User Interviews & Surveys
• Behavioral Analytics
• Competitor Analysis
• Customer Support & Online Reviews

To see these techniques in action, let’s consider the MVP we developed for RentX, an automated rent payment platform in Bangladesh. With most rent paid in cash or via bank deposits and limited automation through Bkash, Nagad, and Roket, RentX aimed to simplify the process with a rewards-based system.

We conducted interviews, surveys, behavioral analysis, and competitor research, revealing:

• Renters struggle with manual payments, causing missed deadlines.
• Landlords face issues tracking payments efficiently.
• Bangladesh lacks automated rent payment platforms.
• Users want clear records, strong security, and instant notifications.

Addressing these issues, RentX’s MVP became a game-changer in Bangladesh’s rental ecosystem.

Step 2: Prioritize what matters

Many startups make the mistake of trying to create a fully-featured product from the start. This causes delays and drives up costs. So, you should first prioritize essential features that solve the core problem. Remember what Stephen Covey said – 

“The key is not to prioritize what’s on your schedule, but to schedule your priorities.”

For example, when designing a car, manufacturers prioritize essential features like safety and engine performance. Later , comes the secondary or luxury features like heated seats, sunroofs, and advanced infotainment systems. In MVP development, core features come first; extras can wait.

How to decide prioritization?

Without a clear framework, the product owners, stakeholders, designers or even engineers may add unnecessary features that result in delaying development and increasing costs. MoSCoW Method can be useful in this regard.

Dropbox is a great example of how prioritization shapes an MVP. When Dropbox was first created, the team focused on solving one core problem: making file storage and sharing simple and reliable. 

After thoroughly studying Dropbox’s MVP, we’ve found the following features they prioritized based on their importance:

• Must-Have: File synchronization, secure cloud storage, easy file sharing
• Should-Have: File version history, basic offline access
• Could-Have: Advanced collaboration tools, third-party integrations
• Won’t-Have (for now): Built-in document editing, complex team management

Instead of building a full product, they launched an MVP with a simple explainer video to measure user interest. The responses helped to validate their idea and move forward with the full-featured product based on user feedback.

Step 3: Prototyping and testing

Before coding, prototyping and testing help visualize the MVP.. A well-structured prototype ensures that developers and designers are aligned.  This lets stakeholders see how the product will work before full development. There can be different levels of prototypes, each serving a specific purpose in the MVP development cycle.

Types of prototypes

There are different types of prototypes. All of them help you gather feedback and validate concepts.

• Wireframes: You may start the prototyping process with wireframes. They are simple sketches focusing on functionality and layout. 
• High-fidelity mockups: Next come mockups. They are high-fidelity designs ensuring visual consistency. 
• Interactive Prototypes: Finally, you go for clickable prototypes. They simulate real user interactions.

Testing strategies

Testing ensures that the designs truly meet user needs before building the final product. You can catch potential issues, fine-tune functionality, and deliver a better overall experience. Here are some of the testing strategies:

• Usability Testing: Start the testing process with usability testing to identify users’ pain points.
• A/B Testing: To compare design versions, you may opt for A/B testing. 
• Feedback Loop: Finally, consider the continuous feedback loops to refine the prototype based on user insights. It ensures that the version is user-friendly and effective before full development.

For instance, when developing Slack, the team focused on prototyping and testing to refine core features that delivered immediate value. Their MVP included:

1. Channels: Listing channels alphabetically with options to create or join new ones.
2. Messages: Displaying messages chronologically for clear communication.
3. Members: Showing channel members and their online status.

Through wireframes and interactive prototypes, Slack conducted usability testing and A/B testing to optimize user experience. This focus on essential features, combined with continuous user feedback, laid the foundation for future growth and advanced functionalities.

Step 4: Launch quickly, learning continuously

We have studied some of the failed startups and found most failed because they aimed for perfection from day one. Therefore, instead of perfecting every detail, you should launch early, test real demand, and iterate based on feedback.

Launching early with core features provides key advantages. It’ll reduce time to market and receive feedback from real users. You can use the feedback to validate assumptions and make sure the product addresses real problems.

Let’s talk about RentX here again. Our team developed the first version of RentX MVP in 87 days. Within 60 days of launch, RentX onboarded 500+ users, with 70% completing their first rent payment.

Positive feedback showed 85% of tenants found the platform easy to use, and 78% of landlords reported better efficiency. Challenges included the demand for more payment options and clearer transaction tracking.

In response, we added mobile banking options like bKash and Nagad, plus a detailed dashboard, boosting satisfaction by 30%.

How to gather real-world feedback

The fastest the MVP is ready to use, the real learning begins. To refine and improve the product, you should collect data-driven insights from actual users. The most effective ways to gather feedback include: surveys & interviews, usability testing, analytics & heatmaps, A/B Testing etc.

These feedback loops help to make informed decisions rather than assumptions, helping the product evolve in the right direction. 

Pickaboo, for whom we developed an app, is a good instance of how an early launch helps in learning and improvement. We launched the app quickly with core functionality. Users liked its speed and performance but suggested improvements. They wanted more payment options and better product navigation. Their feedback helped us refine the app, making it more user-friendly and ready for more customers.

Step 5: Iterate and grow

Trying new things constantly and then abandoning them without further study or work is not iterating. That’s flailing. – Laura Klein

An excellent example of effective iteration and growth after an MVP launch is Instagram. Initially launched as Burbn, the app was cluttered with features like check-ins, photo sharing, and game mechanics, making it complex and unfocused. 

Recognizing this, the founders, Kevin Systrom and Mike Krieger, analyzed user behavior and discovered that people primarily engaged with the photo-sharing feature. This insight led them to strip away unnecessary functionalities, focusing solely on photo uploads, filters, and a simple social feed—thus, Instagram was born.

Successful MVPs evolve through continuous feedback, analytics, and real-world data. Therefore, you must closely monitor all the key metrics and apply strategies to scale any MVP into a polished, market-ready product. The most critical performance metrics include retention, engagement and conversion rate.

These metrics help us identify areas that need improvement and guide the next iterations. If retention is low, for example, we usually look for better onboarding or feature enhancements.

Strategies to scale MVPs

Once the MVP gains traction, you should focus on strategies to expand the user base and drive long-term success. Here are some effective approaches:

1. Encourage users to share the product through referral programs (e.g., Terabox’s referral system, where users earn money or free storage for inviting friends).
2. Invest in Google Ads, Facebook Ads, and social media campaigns to attract more users based on collected data.
3. Use blog posts, tutorials, and case studies to drive organic traffic and position the product as a valuable solution.
4. Collaborate with complementary services to expand reach (e.g., integrating with third-party tools or marketplaces).
5. Foster engagement through social media, forums, and exclusive user communities to create brand loyalty.

The Secret to a Great MVP

An MVP isn’t just about speed—it’s about learning, adapting, and iterating. Many startups believe that launching fast is the key, but the real secret is using the MVP as a tool to validate your idea for the market. A well-crafted MVP provides actionable data, reduces risks, and ensures resources are spent wisely. But to achieve this, businesses must avoid common pitfalls, embrace a growth mindset, and focus on sustainability.

Many startups fail not because their idea is bad, but because they make critical mistakes when developing the product. Here’s what to watch out for:

• Overbuilding the product – Adding too many features slows development, delays launch, and wastes resources.
• Ignoring User Feedback – Building on assumptions instead of real data leads to missed opportunities.
• Focusing on Perfection – An MVP should be functional, not flawless. The goal is to test and improve, not launch a final product.
• Skipping Metrics & Analytics – Without tracking retention, engagement, or conversion rates, businesses won’t know what’s working.
• Not Adapting to Market Signals – If the data suggests a pivot is needed, resisting change can kill the product.

Mindset shift: MVP is a step, not the destination

Remember that a strong MVP isn’t the end goal. It’s the first step in building a scalable, market-driven product. Businesses must move from a “launch and forget” to a “launch and learn” mindset. 

The first version will inevitably change as the product evolves based on user feedback—just like Airbnb, which started as a simple site for renting air mattresses and grew into a global travel platform.

Adaptability is key; real market feedback should drive continuous tweaks, refinements, or even pivots to ensure long-term success.

Cost to Build an MVP

The cost of building a Minimum Viable Product (MVP) varies based on factors like project complexity, core features, technology stack, and the development team’s expertise. Simple apps cost less, while complex ones require more resources. Knowing these factors helps businesses plan budgets effectively.

To give a clearer picture, let’s compare building an MVP for a food delivery app similar to Uber Eats. While UberEats is a feature-rich, fully developed product, an MVP focuses only on the core features needed to test the app in the market. These features typically include:

• User Registration & Login
• Restaurant Listings
• Menu Browsing
• Order Placement
• Payment Integration
• Real-Time Order Tracking

The goal is to create a functional, user-friendly app that solves the basic problem of connecting users with restaurants for food delivery without the advanced features seen in the final version of Uber Eats. 

Please note that the actual cost of building an MVP may vary based on project requirements, chosen technology stack, development approach, and regional differences in development rates. Custom features, advanced functionalities, and frequent updates can increase costs, while a simpler scope can help reduce expenses.

We specialize in building lean, user-focused MVPs designed to validate ideas, attract early adopters, and scale efficiently. Whether you’re a startup looking to test an idea or a business aiming to refine a new product, the right MVP strategy can save time, reduce risks, and accelerate growth.

A well-executed MVP isn’t about launching a perfect product—it’s about learning, adapting, and evolving. With the right approach, you can identify real user needs, measure success, and iterate toward a market-ready product.

Nearly every successful product, including tech giants, started as a simple MVP. The key is to launch with the essentials, gather real-world feedback, and improve continuously. Let’s transform your vision into a product that resonates with users and drives sustainable growth.