Bootstrapping an MVP involves creating a fundamental product version with minimal resources and features. Entrepreneurs can efficiently validate their idea's viability by focusing on core functionalities and essential components.
2. It is an integral part of bootstrapping a startup
successfully.
THE MINIMUM VIABLE PRODUCT (MVP)
It embodies the idea of creating a basic version of
your product with just enough features to attract
early users and validate your business idea.
It helps you get investor funding!
LEARN BUILD
ANALYSE
MVP
4. By prioritizing essential features, you're
conserving your limited resources for areas
that matter most, such as marketing, customer
support, and further development.
CONSERVATION OF
RESOURCES
01
5. MVP forms the foundation of iterative
development. As you receive user feedback,
you can make informed decisions about
refining and expanding your product. This
iterative approach helps you create a
product that closely aligns with user needs
and preferences.
ITERATIVE
DEVELOPMENT
02
6. Investing substantial resources into building
something that doesn't resonate with the
market is highly likely.
RISK
MITIGATION
03
MVP reduces the risk of developing a full-featured product without user validation by
allowing you to test your assumptions before making major commitments.
7. LEAN DEVELOPMENT PROCESS
PROMOTES A USER-CENTRIC APPROACH BY VALUING USER FEEDBACK
Derived from the principles of Lean Manufacturing, this process emphasizes minimizing waste,
optimizing resource utilization, and achieving continuous improvement.
The core of the Lean Development Process is the "Build, Measure, Learn" cycle, complemented
by rapid development techniques.
ENCOURAGES QUICK DEVELOPMENT CYCLES
CONTINUOUS ITERATION
8. DIY DEVELOPMENT TOOLS
WEBSITE BUILDERS
Website builders are user-friendly platforms that enable startups to create websites
without requiring extensive technical skills.
OPEN-SOURCE SOFTWARE
PRE-BUILT TEMPLATES
Open-source software refers to software with source code that is freely available to
the public. Startups can leverage open-source solutions to build various aspects of
their products, such as content management systems (e.g., WordPress), e-commerce
platforms (e.g., WooCommerce), and even entire operating systems (e.g., Linux).
Pre-built templates are design frameworks that startups can use as a foundation for
their applications, websites, or other digital solutions.
9. OUTSOURCING WISELY
ACCESS TO SPECIALIZED EXPERTISE
Outsourcing allows you to tap into
specialized skills that may not be available
in-house. You can hire professionals in
areas like web development, design,
digital marketing, or content creation,
enhancing the quality of your offerings.
FOCUS ON CORE COMPETENCIES
REDUCED ADMINISTRATIVE BURDEN
Open-source software refers to software
with source code that is freely available
to the public. Startups can leverage
open-source solutions to build various
aspects of their products, such as
content management systems (e.g.,
WordPress), e-commerce platforms (e.g.,
WooCommerce), and even entire
operating systems (e.g., Linux).
Managing non-core functions, such as payroll, legal compliance, and accounting, can be
time-consuming.