How no-code MVP can help startups at early stages

Here’s the harsh truth. Startups are risky. According to a report by IBM Institute for Business Value and Oxford Economics, 9 out of every 10 startups fail within 5 years of their launch. This is why startups need to make provisions for such situations to safeguard time and resources. MVPs help.

Beginning with what an MVP is; an MVP, or a Minimum Viable Product, is a version of a product that has previously been in development but is now at a stage where it is quite market-ready, though requiring some polishing and research which could increase its’s value.

A simple, real-life example would be how a simple soup is ready to be eaten and will fulfill the purpose of nutrition but won’t be quite enjoyable until it is “developed” by adding seasoning and condiments based on feedback. That is the difference between an MVP and the “final” version of the product that goes into the market.

An MVP’s significance.

• Creating an MVP is, in essence, a development strategy that saves resources and time. By focusing on the most basic functioning version of the product, designers achieve a product with a strong core/base.
• MVPs allow founders to avoid spending too many resources in the beginning since a good chunk of the product’s development is the alterations and iterations that are made in response to the feedback received from potential customers.
• It significantly decreases the business risk involved by allowing the designers to speculate the challenges, competition, and the product’s potential before any big investment is made.

When we’re talking about digital products, code is involved. E-Commerce, E-Navigation, Social Networking, and every other digital product/service functions on code.

Now, not all entrepreneurs with great digital product ideas are versed in programming. This leaves them with two options — Hire and pay for coding, the riskier, more time-consuming option. Or, create a no-code MVP.

What is a no-code MVP? No-code MVP is a pretty straightforward name. A most basic MVP that is created without code and is considerably faster and cheaper than a coded MVP. No code platforms operate by encoding visual components that are easy to understand and can be manipulated by a business user with little or no coding experience.

In simpler words, no-code platforms have libraries of pre-programmed functions and commands that you copy and paste onto a flexible, easy-to-use workspace to create your product.

How exactly no-code MVPs are so helpful for startups. The entire purpose of an MVP is to preserve costs and time. And if creating a coded MVP ends up being so time-consuming and expensive, it defeats the whole purpose.

Here’s a list of factors that make no-code MVP an option worth considering for startups:

1. Cheaper to create: Already mentioned above is how much money a no-code MVP can save you. Even though an MVP is exponentially cheaper than a fully functioning product, developers are fairly highly paid individuals. It is just not very feasible for many startups to hire one. Instead, by use of no-code platforms, designers with no coding experience can build their MVP themselves.
2. Faster to develop: One of the lengthiest processes during MVP development is coding itself. No-code tools eliminate coding and end up saving up to half of the time it would have taken otherwise.
3. Safer; in terms of reduced business risk: All startups have business risk. With the odds usually stacked against new startups, the startups must ensure they invest in resources wisely. It is much safer if a startup that had invested in a cheap, no-code MVP fails than a situation where a startup that had done heavy investment in creating a fully functional product fails.

We do agree that no-code MVPs are not perfect. There are absolute limitations to how well and how much a no-code MVP can achieve something for a startup. But that’s not what we’re saying. What we mean for you readers to know is that it’s a very good option, one that deserves to be seriously considered.

Are you still considering a working MVP? Schedule a 30-minute call with our designers here and get a consult.