One of the key reasons behind a startup’s failure is relying mostly on assumptions when designing products. This happens when people become overconfident that they know the ultimate solution to a problem in the market. But knowing isn’t the same as validating. To avoid such a situation, you can build minimum viable products (MVPs). It allows businesses to test their concepts in advance to gauge how users respond to it, before investing a lot of money and resources behind it. In this video we explain in simple terms what MVP is, what the benefits are and some examples on how big brands use MVP as their foundation for success.

Timestamps:
00:00 – Introduction
00:38 – What is an MVP?
01:47 – Why build an MVP?
04:17 – The difference between MVP & Prototype
06:45 – Advantages of an MVP
08:23 – Disadvantages of an MVP
10:07 – Big brands that started with an MVP
11:55 – Summary

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Relab Studios is a Melbourne based, multi award-winning digital design consultancy with a high focus on data-led UX studies and well-executed visual UI design solutions. Relab is recognised as a specialist on UI/UX design solutions for complex eCommerce and transactional digital projects that requires high performance on conversion rates. Our design thinking process has helped businesses solve a common problem on making something complex feel simple.

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Visit Relab Academy here: https://relab.academy

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