MVP vs. POC: What’s The Difference?

What should be the strategies an enterprise needs to adopt for getting successful?

To be lucrative, an organization must make some difficult decisions while selecting between the Minimum Viable Product MVP and Point Of Concept POC. And today we are going to discuss the key differences between MVP and POC.  So without any further ado let’s take a deep analysis between both of the models. 

To introduce an incredible product cracking customer problem, one needs to understand the difference between minimum viable product (MVP) and proof of concept (POC). It might be one of the toughest choices but don’t worry as Alsyke is there to help you out and augment the chances of your corporate accomplishment.

Alsyke is the leading custom software development company performing outstandingly well in the digital marketplace with its innovative software solutions. So, be with us and achieve a market-fit product employing the untiring efforts of our dedicated developers.   

MVP vs POC

Startups mostly use two distinct methods to validate their ideas leading towards the development of software solutions:

1. Minimum Viable Product (MVP)
2. Proof Of Concept (POC)

Let’s first understand the difference between the two approaches to select the best for your software project:

Definition of Proof of Concept (POC):

POC is basically an execution approach utilized to determine the feasibility of an idea. This process is being performed to check whether the technical imagination could function as a product or not.  

The Goal of POC:

To identify the technical practicability of an idea.

Purpose of POC:

• Determine the possibility of a hypothesis
• Find out the risks attached with the proposition
• Save time and development cost
• Attract stakeholders to invest in the project

Proof of Concept (POC) Explanation:

POC in the simplest terms could be described as the proving of an idea going to get the shape of a realistic software product. This is the step performed even before the start of the development process to get clear regarding the viability of a plan. POC usually focuses upon some smaller part of a software solution, maybe just a feature to assess its feasibility.

POC remains within the organizational environment and the end-users will never get the opportunity of using it. It’s the simplest version of an application without having an attractive design and interactive interface.

Following the POC approach helps the companies get information about the practicability of the product, ultimately helpful in the presentation of your innovative idea to investors or stakeholders.

Also Read: What’s the Relation Between Agile and MVP 

Definition of Minimum Viable Product (MVP):

MVP is basically the development of a functional product with a few basic essential features employed for the collection of customer feedback to improve the software solution for the end-users. To build a successful MVP you must have to understand the things which require to make them successful.

The Goal of MVP:

To collect customer feedback to improve the software solution for the final release

Purpose of MVP:

• Gather feedback from initial customers
• Reduce product time to market
• Save entrepreneurs from great losses
• Reduce time, development cost, and other expenditures

MVP Explanation:

Minimum viable product (MVP) is a functional software solution designed with a set of minimum features to please the end-user’s requirements. It helps you gather information regarding the market trends and customer preferences.

MVP development provides you with evidence for the enhancement of a product in quite a short span of time. It’s a scalable product, allowing businesses to test and introduce an upgraded software version in the market.

Employing MVP strategy, you achieve customer feedback, recognize the market inclinations, and jump with the best product into the competitive sphere helping you achieve the best for your organizational progression. It’s not about the introduction of an inferior software product, rather it’s a trick utilized to gauge the customer’s expectations and offer the product for the gratification of their digital provisions.

Are MVP and POC the same?

With the above-given descriptions, it is very evident that MVP and POC are not the same, even though they are quite different from each other and used according to the project scope.

Exploiting a single strategy is not necessary as both in combination can also be used for a project having complex ideology and development plans. Let’s build a comparison chart to make the things more effortless to understand:

MVP Vs POC: Which one Should you Choose?

You should consider a few following points before choosing the right strategy for your enterprise:

• The consumers you want to target through your digital solution
• The benefit of end-user utilizing your software or application
• The criteria validating your assumption
• Your aim of developing the software product
• Time, budget, and resources approximation
• ROI you want to generate through your innovation

If you are ready with the answers to the above arguments, then comes the time of choosing the right strategy between MVP and POC for the affluence of your enterprise. The corporate and functional necessities basically decide the appropriate strategy leading towards the product development, essential for the businesses aspiring to be profitable.

When to Go for Proof of Concept (POC)?

• When you want to have an idea validated before investing your time and money.
• While developing an innovative product, the one you are introducing for the very first time in the market.
• When you have to prove the feasibility of your assumption in front of investors or stakeholders.
• When you need to motivate the development team with the practicability of hi-tech imagination.

When to Go for Minimum Viable Product (MVP)?

• When the company wants to connect fast with its customers through digital production.
• To collect quick customer reviews for the improvement of software solutions.
• When you want to earn customer satisfaction by fulfilling their technological necessities.
• When you wish to produce according to customer requirements and market preferences.

When Should we use POC and MVP together?

The two approaches have distinct objectives, but both could also be effortlessly utilized in combination with each other. Most of the time when we remain unaware about the viability of an idea going to be soon transformed into a product employing great efforts, time, and resources, there comes the time of using POC.

Development of Proof of Concept (POC) is being done within the organizational setup to get information regarding the feasibility of an assumption. If the answer comes out to be YES, then we move towards the development of a Minimum Viable Product (MVP).

MVP development generates a functional yet simple product for the initial customers to collect their feedback and improve the product for its ultimate release.

Conclusion:

Enterprises wishing to introduce something exceptional in the competitive market must remain prepared for a bundle of complications waiting for their consideration. It requires the commitment of knowledge as well as expertise to move towards efficient Product Development. Therefore, it’s imperative to hire an equipped MVP development company to make your journey quite smooth and fruitful. Alsyke is an amazing MVP development company performing stupendously well in the digital market with the collaboration of their devoted squad. So, be with Alsyke and get a chance to rule the global technological sooq with an incredible software solution fulfilling user requirements and market preferences, eventually leading towards a remarkable expedition.