Top 5 successful MVP Cases
This article will look at famous examples of minimal viable products that you can apply to your business.
Minimum Viable Product is the first version that validates your business idea, minimizes risks, and gives you the right direction for your product or service. New companies have managed to realize their concept and have become large companies using MVP.
Look at famous examples of minimal viable products that you can apply to your business:
Amazon started selling only books on the web, challenging the Barnes and Nobles of this world who were stuck mainly in the store. Focusing on the books at a low price angle in 1994 with a simple web, they grow and branch out to become the retail monster. Started as an online bookstore, soon branching out into different product lines, adding movies, music, software, video games, electronics, clothing, furniture, food, and more. But the Creator still has a supreme aspiration, a new vision: to be the biggest store on the planet.
It's an example of performing only one core feature: music streaming, instead of getting distracted by different elements. The creators developed a desktop app and ran a market test. Since its inception, Spotify has not wanted to be left behind in technological advances, following trends, and vanguard content. While the MVP and a freemium price model were proving to be what people wanted, the Spotify team spent time improving and developing the mobile app to conquer the global market.
The Creator wanted to know if people would buy shoes online without any stock; nobody had this kind of model in the market. Instead of investing in a big platform with a big shoe inventory, he develops an intelligent strategy. To build the company, he took photos of shoes from physical stores and published them online. When users ordered it, he buys it at the local store. Everything was done manually. Now they have more than 20 years of operations, their MVP led them to test the market and evolve their service.
Brian Chesky and Joe Gebbia lived in San Francisco and had difficulties paying their rent. They saw the problem that several people faced. Providing short-term renting was a critical mission statement behind Airbnb. Then they decided to try and fulfill one of their dreams to start a business. To test the business model, they provided the service for those who came to town to attend a local conference. Brian and Joe created a simple web site, publish a few pictures of their loft, and soon enough had three paying guests. With the MVP Airbnb expanded organically.
Uber's MVP did a straightforward thing: connected drivers with iPhone users in the United States who weren't scared to have credit card payments in a new app. It was enough to fulfill their primary goal: offer taxi services as cheap as possible. This idea didn't stop there; creators decided to work on the project and didn't rest until they saw it materialize. The Uber we know results from the right approach to business scaling and a successful MVP test.
Now you have an idea of the MVP examples that you can use for your business. If you're still not sure how your MVP must work for you, we can help you.