Planning Your Low-Fidelity MVP

Now that you know some types of low-fidelity MVPs that you could utilize for your venture, let's talk about how to actually plan your MVP.

📺 Watch the following video to learn how to plan your MVP

Here are some key takeaways from the video:

Know Your Core Value Proposition: Identifying the core value proposition is crucial. It involves understanding the primary pain point the product addresses, the target audience, and how the product stands out. This should be written down, and agreed on by all team members.

Timeline and Budget: It's important to consider both the timeline and budget for the MVP development. Factors like market opportunities, team costs, etc., can influence the timeline.

Feature Categorization (Outline the user journey in your product):

• Must-Have Features: Essential features without which the product cannot function. These are central to the product's experience.
• Should-Have Features: Important but not critical features that can be included with compromised execution quality.
• Could-Have Features: Desirable features that aren't necessary but could enhance the product if time and resources permit.
• Won't-Have Features: Identifying what will not be included in the MVP is also crucial for focus and resource allocation.

User Journey and Use Cases: Mapping out the user journey and major use cases helps in understanding which features are necessary for solving the user's pain point.

Prioritization: Prioritize features based on the core value proposition and the product's viability.

Leadership and Alignment: Strong leadership and alignment within the team are essential for making tough decisions and navigating the challenges of MVP development.

Start with a Design Sprint: Start with a design sprint to create a real-looking prototype validated by real users, which makes planning and decision-making easier.