The world is going digital today. But developing digital products involves a lot of resources and you will never want them to be a failure. You must have heard about these prototyping concepts like POC( proof of concept) and MVP (minimum viable product). But which of these suit your product is all that matters.
This blog will bring you face to face with actual meaning and difference between POC and MVP.It will also give you a comparative study between the both. By the end you will have a clear cut clarity of what to choose and why to choose.But before knowing the difference between the both we should gain some clarity about what they actually are. So, let's go!
POC (Proof of Concept): The concept and Uses
Sometimes called proof of principle, it determines whether your idea is technically viable or not. This not only saves you from big real time failures but also determines the flaws at the initial stage. Adding to which, it mitigates the project risk.
Let's stress over the fact here, that POC tests only the technical aspect of your idea.However they are tested in a controlled environment.
When POC comes into play?
In the first place, when does the need for POC arise? This is the landmark question. You need to have clarity over this.
- So, you see it's not everyday you will be needing POC except when you need to start with a totally fresh idea.POC is highly recommended here. Eventually you will gain confidence by testing the technicalities of your idea. This will allow you to test your out of box ideas that too safely. Great, isn't it ?
- Imagine a scenario where you already have a full fledged concept running successfully in the market. You wake up one day with an idea to add absolutely new functionality to it. POC can be your saviour here. Before launching it on a large scale you can test it in a controlled environment. Furthermore , this will also prevent any negative impact on your “successful” product.
After gaining a successful insight into the nitty-gritties of POC, let's delve into what MVP or minimum viable product is all about.
Minimum Viable Product
MVP basically lets you know how it would function with some early customers.
It is a functional concept that gives you an insight of how your product will perform in the real world. So, you see it gives you the most honest and unbiased feedback. MVP initially contains only the problem solving features.
As a result, it gathers a lot of early customer base. Most importantly, this also solves your query of whether the people will be investing in your innovation or not. In addition, saving you from draining your resources.
When to use Minimum Viable Product?
With concepts like POC available you need to know when to use MVP. So, here we are answering the most hot-selling question:
- Reducing the overall cost is the most fundamental requirement. It lets you devise your developmental plan without knocking down your hard earned resources. You can launch the most basic yet best version of it, increasing your probability of success rate.
- Short development cycle is another feature of MVP. I hope you agree with me. 42% of the out of box ideas fail because of their longer development cycle. You must be wondering how MVP helps you with this. Let me walk through it. You can roll out the product with less but superior features. Now, you can exactly target the pain point with the feedback you receive. Thus, saving yourself from the burnouts, you see!
- Capturing the early market base is every business’s fundamental requirement. Launching a MVP gives you a chance to reach those customers and impress them with your concept. As a result of which you gain confidence in the viability of your business. Additionally, you also get to know the market demand. That in turn helps you in continuously improving the innovation.
So, with a lot of data on MVP and POC, you must be in the dilemma of which to choose. Questions like which will serve my purpose the best, which is more cost-effective need answers now. This is why we will be moving to our next section.
POC or MVP: Which to choose in 2022?
As we all know that every project or idea is different in itself. So are its requirements. Here are some conditions which will guide you better on what to choose and when:
- If you are confused on the
technical feasibility of your project then POC is good to go with. Questions like what if my site crashes in high demand hours etc can be quickly answered with POC.
- For
small businesses which still struggle with the problem of funding, POC should be their choice. This also gives a nod to the technical aspect of the project.
- When you are ready with a clickable interface of your app or project which requires no coding then POC is the choice.
- You stand on a platform where you are ready to roll on your fundamental product with some controlled features then MVP is the choice you should make. This will not only save your cost but also gives you room for improvement.
- You are in a scenario where you are launching a project for the first time and want to gain an insight into your potential customer base then MVP is good to go for. This will give you a great opportunity to capture the early customer base. Interesting, isn’t it?
- Startups
face a major problem of seed stage funding. This flag mostly remains red for them. Moreover convincing investors on technical backgrounds also remains a challenge. In such a situation POC is the answer.
Although the horizon is very vast, these were some conditions which broadly categorize the use of these models.
The Overview
MVP Product development is a very draining process and choosing the right model for yourself is even more. So, to escape such burnouts cautiously select your model. This will not only save time and energy but will also give you an edge over your competitors.
We tried our best to clear that hair-line difference between these proven models. Make sure you choose the best as per your requirements.
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