Startup without breaking the bank?

Mindless Tower @mindlesstower

Start-ups nowadays have incredible ideas, many of which are ambitious and capital intensive. But truth be told, your MVP doesn’t need to break the bank. There are a couple of strategies which we highly recommend you consider to make your MVP an easier to digest investment.

 

Break your project up into phases:

 

Your web application/mobile application most likely has multiple functionalities. Some of which at a closer look are not “needs”. We can almost bet that a good amount of your functionalities could be classified under a “wish list.” Our top recommendation is to evaluate your feature set carefully and to determine the core purpose of your application. If it’s not entirely required, then remove it from your scope for the initial phase. Work with your agency to help them understand your budget; you’ll be surprised with how often they will be open to splitting your project up into multiple phases to accommodate your needs.

Create a landing page to test the waters:

 

If you’ve got no idea whether there will be much traction with your startup, then try creating a captivating landing page which effectively explains your concept and gathers users’ emails. In doing so, you can realistically access if your startup has any interested users. You could then use this data when presenting to venture capitalists. It is vitally important that your landing page is professionally designed and that it has a lot of thought put into the story behind your idea. A professional designer will be able to take your vision and frame it in a way which you may never have even considered.

 

 

Of course, the two ideas above are merely examples of what many startups do to lessen the cost of their MVP. We would highly recommend that you discuss your situation and your needs with your agency as every case presents a unique set of challenges and caveats.