Should You Build an MVP or a Prototype For Your SaaS App?

In the cutthroat age of the technological business, introducing a new SaaS product is nothing short of a battle.

To be a successful entrepreneur, you must invest in cutting-edge technology ideas with market viability.

You need to navigate through several challenging phases while making some hard choices, starting with an idea and ending with the launch of the entire product. Choosing your customized software solution’s initial draft is among these challenging choices.

The MVP IT build, and UI/UX prototyping are two viable options for this. Nevertheless, they function best at various development phases. You will indeed be capable of assuring that your SaaS product’s concept is appropriately received by the investors and the intended audience when you apply each of these concepts properly. This will also guarantee that the introduction of your product is a rousing success.

But here’s a thing: There is a never-ending debateraging around developing an MVP or developing a prototype. And multiple questions rise with that.

• So what’s the difference between MVP and prototype?
• Why do you even need to create one?
• Which one should you choose for your SaaS product?

This post will shortly provide all of these crucial answers. Continue reading to get the rewards.

First, let’s overview what MVP and prototypes are and what benefits they provide.

What is an MVP?

Minimum Viable Product, or MVP, is the most basic version of any software application that can be made available to the general public to get user input. The essential functionality is all that the minimal viable product concentrates on.

During the initial phase of the development process, it provides sufficient functionality to draw new consumers and verify the SaaS product concept.

Key Benefits of Creating an MVP

• Lowers the cost of development

Compared to producing a complete product, MVP development requires less funding. Therefore, if the MVP doesn’t win over stakeholders and customers, you would only be risking very little funds.

• It brings you the initial group of clients

Interacting with the initial group of clients will be made more accessible by creating an MVP. Once users begin to enjoy the software, they will tell others about it. Your initial users will be prepared to utilize the application by the time it is finished.

• Assess the business concept:

By creating an MVP, you can determine the degree to which your business concept will be successful. Creating an MVP helps reveal the extent to which individuals are interested in using it. You can plan your subsequent project development process with the help of this.

• Bring in investors

Possessing a great vision is one thing; however, you must also have the money to implement it. If you lack the funds to invest in the concept, you must seek investors. You should create an MVP to communicate your idea to stakeholders effectively. Your chances of being recognized will increase if you create an MVP.

What is a Prototype?

Prototypes for mobile applications show the app in visual form. It depicts the UI as well as how the application will transition between screens. Based on the cost and time invested, it offers a preview and can range from just a doodle to something much more engaging.

Researching and creating is essential, and one advantage of utilizing a prototype is that it encourages communication between your designers and engineers by giving them a sense of what they will construct along with the customer’s expectations for the finished product.

Key Benefits of Creating a Prototype

• It makes you more aware of the problem

People frequently neglect to prototype since they believe they have the best option. Therefore, expand your perspective and develop a prototype. Keep in mind that while your initial prototype may not represent the optimal solution, it’ll still raise previously unknown issues that can be addressed early and less costly.

• You can save funds

Using prototypes can enable you to design your product for much less money. Your development process will be shortened as a result. Furthermore, software prototyping will require limited resources than full project planning and development. You start by creating the prototype. Then once it has been accepted, the entire team can collaborate on the development process.

• Quickly go to work

A plethora of viewpoints and ideas are involved while completing a task at the organizational level. Through prototyping, these problems are all addressed. You can begin the task right away with expert assistance. Even if the initial prototype does not turn out exactly as you had hoped, you will still learn what aspects of your idea are unworkable. Additionally, you would be capable of achieving success through constant prototyping.

• Gain feedback quickly

Feedback is essential to the achievement of any endeavor. Users, consumers, and investors can all provide feedback. You can begin incorporating the input into the project as soon as you are able to gather it.

Now you know the basics of MVP and prototypes. But what distinguishes an MVP from a design prototype now that you are aware of their definitions? Let’s examine the differences between an MVP and a design prototype.

MVP vs. Prototype: The Fundamental Differences

1. Applied at various stages of product development

Prototypes are frequently created for usability tests and demonstrations during the initial product development process. The lifespan of the prototype expires after approval.

The advice you receive from early investors and potential customers is relevant in this situation. If the response is unfavorable, make changes to the prototype and give it another shot. You can draw conclusions about the prototype’s outcomes if the response is favorable.

Following the prototyping phase comes the MVP development. In this, you can choose from sketch code to product development that the initial people are going to see and acquire necessary feedback before creating a full-fledged software.

2. Scope

A prototype and an MVP have very distinct purposes. A prototype can be constructed quickly and with minimal effort. To swiftly adjust and eliminate unneeded concepts, businesses typically develop a range of prototypes.

In the case of MVP, you select an idea and begin the development process. This is why making considerable changes in MVP is comparatively rigid, time consuming and for those reasons, costly.

3. Commitment

An MVP is less likely to be entirely scrapped and rebuilt after time and money have been dedicated to it. However, with a prototype, it may only be necessary to crumple up some paper and begin right away.

4. Intended audience 

Prototypes and MVPs have different target audiences. Usually, team members are the ones who create prototypes. The best scenario is that you might consider distributing them to the media to generate buzz or using them to promote fundraising. They are, however, never created for the intended audience.

An MVP is created for being released to your target audience and then evaluated there.

5. Time committed

The process of creating a prototype requires minimal time, energy and money. The concepts may also be swiftly modified, changed, and abandoned. In light of this, building a prototype requires 2 weeks to 30 days, based on the task.

The MVP development process requires more work and resources because it involves exploring the product concept. The MVP can be launched in a period of two to six months.

6. Convincing stakeholders and investors

Both of these are going to show the potential of your SaaS product to investors and stakeholders. The prototype is just a rough drawing rather than a completely finished product when trying to convince investors that a specific idea is worthwhile investing.

A completely working product with the absolute bare minimum of functionality is an MVP. It shows the investors that the concept they saw in the prototype is functioning.

So, you must select a prototype or a minimum viable product to validate your business idea. Even if there is no simple solution to the question, keep reading to learn when to use each strategy.

When to Choose an MVP?

Once you’re confident in the product’s technological capabilities and desired product introduction, you should adopt a minimum viable product strategy.

Although not a fully developed product, an MVP is regarded as the last stage of its development. In the following situations, you might think about using this strategy:

Businesses unveil a minimal viable product to:

• As quickly as feasible, introduce the product to the marketplace.
• Prior to spending an excessive amount of resources, test new concepts with actual users.
• Gather customer feedback to learn what the software’s beta testers thought of it.
• Preserve both time and money by not including every functionality in the MVP. As a result, less programming work is required.
• Showcase the SaaS product’s potential, obtain user input, and secure more funding with the MVP.

When to Choose a Prototype?

Once you’re absolutely sure your idea is feasible, and you want to verify the SaaS product design, you can choose to move further with prototyping.

Businesses unveil a prototype to:

• Envision the appearance and functionality of the app.
• Effectively present your app to your customers and investors.
• To build an app with excellent UI and UX.
• When there isn’t much technology available, they are interested in seeing what the finished product will appear like.
• When the budget is tight, leveraging prototyping to assess, modify and make changes to a prototype is very cost-efficient. Prototyping is the darling of startups to save some extra bucks on the way to the MVP. Basically, it is the measure once, twice, three times than cut approach.

Final Thoughts

Both MVP and prototype play a fundamental role in the app development process. So you can choose which one to choose according to your business needs and goals. Also, if you do not have any budget issues, you can consider creating both for better results.

However, we understand that as a startup owner, it can be a daunting task to do these all alone. So, Netsmartz is here to help you to create the best design for your startup app. We deliver responsive and user-friendly mobile app designs.

We appreciate your feedback and do our best to grasp your vision of a perfect mobile app design. So without wasting any time, schedule an Interview Today!