Working with Vendor for a Quick product launch
Let’s simulate the situation: you own a company (not a technology company) and you have an idea of how to technically solve the problem in your market area. You turn to the AnExoticGreatAstonishingSolutions — IT company, which develops software products and designs and offers to implement your idea.
After negotiating sessions with Mickey (the company’s representative), you set your budget for full product development. However, Mickey offers alternatives, such as prototyping, PoC, or MVP. From a previous article, you’ve already learned what these acronyms mean, but what’s the best choice in this situation? Let’s get to the bottom of it.
So, to begin with, it is necessary to understand whether it is possible to make your product at all. Is it possible to implement key functions that will help solve the problem of your consumers? That’s where Proof-of-Concept comes in for help. Very often in PoC is implemented (tested) 1–2 critical functions, which can then be used in further development.
If it’s technically possible to create a feature, you can start the prototype.
On the other hand, if the concept already exists and there is an understanding of how to implement the functionality of the product, you can skip a step with PoC and start the prototype immediately.
For example, you want to develop a system that helps you plan your journey (like here). In this case, PoC will be an implementation of the trip creation mechanism and its connection with the CRM system.
A prototype is a visualization of what a product should look like.
Often, it is a story about the formation of an overall vision of the product, UX and UI solutions, which will then be used in the full development of the product and which can be used as a potential for possible investors to show the value of the product with minimal effort. The essence of the prototype is to show the meaning of the product, what it will see potential users.
If at the initial stage there is a vision of the product and at a glance, it is clear how the product should position itself, then this point can be skipped and immediately begin the development of MVP.
MVP (Minimum Viable Product) unlike PoC and prototype is a working product that is equipped with the basic necessary functions and is ready to be launched. Competently made MVP allows saving considerably on development, to make the fast start of a product and designed to collect feedback from users, collect statistics (which may be useful for potential investors), and the first monetization. After launch, MVP can be used as the first version of the product and can be used in future development.
Summing up: each of the approaches described has its advantages and it is necessary to choose among them based on the goals that you set for yourself.
If you want to check if it is possible to implement your idea, you should choose PoC. To have an idea of what the system will look like and how visually users will like it, it is worth looking towards the prototype. To test all your hypotheses for market interest, as well as to present a basic version of the product that has some value for investors — choose MVP.
I hope that this article was useful for you and now it will be easier for you to communicate with the IT company.