Here’s Everything You Need to Know about Product Discovery Phase

What is an MVP?

MVP stands for Minimum Viable Product. It is precisely what the name indicates: the product with minimal feature avatar that has required basic features to testify your idea before you fully launch your product to the market. It is a process to identify as well as understand your end user’s perception with the least efforts and later release a product based on your end user’s preferences once feedback is collected from initial adopters.

MVP plays a significant role in the success and failure of your project. Building a version of your idea with the minimum features can help you validate your concept, saving both time and money, eliminating the risk, and swaying investors. So, let me get you through it to make you understand what the discovery phase is and why it deserves special attention.

Discovery Phase: The First Phase of MVP

The discovery phase is the first and foremost phase of your MVP. The purpose is to gain a deep understanding of your project’s specific requirements and comprehensively understand its detailed specifications. It’s a bridge between the idea about the product you have and the actual product your end users will receive.

When it comes to the discovery phase, at Technosip, we assign dedicated BA and skilled experts to collect and analyze the information, including identifying problems, stakeholders, target market, and competition. Once the discovery phase is completed at your satisfaction, we ensure that the required feature is prioritized, considering all the technical aspects.

If you are wondering how much time does the discovery phase takes, then the answer is it depends. It could take a week or as long as 5 weeks. The reason is it’s not easy to identify unknown variables overnight. Thus, we are offering the discovery phase for free; if you continue developing your MVP with us, then we will eliminate the charges for the discovery phase. We understand that being a startup, you wisely want to spend your hard-earned money; hence we don’t charge for the discovery phase in the full cycle of MVP development.

Evidence-Based Approach

The Discovery phase is all about getting answers to the fundamental questions about your project, and we believe it should be evidence-based instead of relying on random assumptions.

  • What is your business goal? Who are your stakeholders and their goals, as well as specific needs? What are the minimum criteria for success? What are the precise timelines and budget? What is the future goal- where do you want to take it to?
  • Are there are my competitors? Is there a similar solution exists? The percentage of end-users I can expect? What are the best industry practices

Identifying answers to these questions will help you gain a full overview of your project, decreasing uncertainty and associated risks of the product development stage.

What does MVP Phase Entail and Why Do I Need One?

To assist you in building the future proof discovery phase, we provide a dedicated project manager, UI/UX designer, and skilled software developers based on specific preferences. Once you assemble the perfect team, we will help you understand the tools, guidelines, and procedures to draft a discovery phase plan.

MVP Discovery phase is undoubtedly the best thing to take into consideration because it gives the product owner a comprehensive overview to step ahead with confidence for further development.

  • To achieve something, it is very much essential to understand the objective and then follow a clear path. Discovery phase-align team members with a shared vision
  • The discovery phase helps to understand the long process and allows the team members as well as investors to understand the potential of the product and real value for the end-users.
  • The discovery phase helps to draw a clear line between business goals and what your users want or need. Considering these both set of stakeholders into account, it ensures the success of your MVP
  • The discovery phase also includes projects with time, cost, and deadline. Developing an advanced understanding of potential issues makes it very much easier to develop a detailed plan with an accurate timeline and budget.
  • Discovery phase outlines potential issues and roadblocks – A comprehensive overview gives a clear understanding of the unwanted problems that may arise and what significant steps should be taken to prevent them.

Wrapping Up

The discovery phase is the first and foremost step towards building a successful MVP. Initially, you will find it a little hectic, but it’s worth the investment and the time as well as the money you will spend in the future.

If you are looking for a helping hand to assist you with the discovery phase, then get in touch with us today. At Technosip, we have seasoned IT experts who can help you design your desirable product, build an MVP, and can help you validate your idea by testing it. We ensure you to build the best possible user experience for your end-users.

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