To do list & Task Analysis and Research
When forming an MVP, a study of all the initial data of the audience, its behavior and preferences is performed. It is necessary to obtain maximum information about the market, competitors' products, identify the user's needs and find ways to satisfy them, analyze the key idea that became the impetus for creating the project. If the user's tasks have already been solved by someone, then it is necessary to analyze the tools used and find out whether the problem can be solved differently. Upon completion of these activities, it is necessary to formulate the range of tasks that the product will solve. A list of the main criteria that the MVP must meet will be formed.
As a result, the product creator should get an idea of how much the audience needs this product, whether the implementation of the idea is capable of bringing the user some benefits that he does not receive from other offers.
You can't spend too much time mom database developing an MVP, otherwise, in the process, the conditions that were taken as a basis may change significantly. To reduce time costs, Google Ventures developed a special tool called Google Design Sprint.
To do list & Task Analysis and Research
Google Design Sprint allows you to formulate and test the idea of the final product, understand the prospects and direction of further work, determine the main task and make the necessary adjustments in just 5 days.
Planning, testing and development
During the design of a digital financial product, solutions are defined that make up its basic model and the minimum required capabilities. The key condition for obtaining reliable data is testing on the target audience that will subsequently use the relevant product.
Once design and testing are complete, product development itself begins.
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Once again analysis...
At the stage of testing the basic product on the target audience, an answer should be received to the question of whether the initial hypothesis is confirmed or not. If the result is positive, you can proceed to further development and promotion. If it is negative, it is necessary to evaluate the reasons for the failure, make changes to the product or completely change the entire business model.