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Save Money by Creating a POC Before Jumping to the MVP

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We all have an idea to create or build something, and most of the time, we have a unique idea entirely untouched in our favour. So, what stops us from getting a product or service in the market? While some of you might say the capital requirement or the investment needed is why you haven’t been able to launch your new product brand. The real reason is much different.

You might, for once, even arrange the capital requirement for a business. But the one thing that determines whether or not your business will bloom is the feedback you receive from the audience on using a sample of the original product. Without this, you’ll never be sure whether or not to put this business into function.

The concept of a POC is pretty simple. Understand if a business has potential to flourish before spending big amounts of money. If you feel it’s challenging to create a POC, You can always hire a proof of concept (POC) specialist.

What is a POC?

The complete form of the abbreviation POC is Proof of Concept. You can have ten bright ideas about starting a business in a day, but is it possible to start it just because the concept exists? Not really, right? So how exactly do you start a business? You start it with a Proof of Concept.

You derive a POC from your pilot project that can be used to demonstrate a business’s basic framework and idea to determine whether or not it is feasible.

Remember the Covid vaccine formation? How was the vaccine first cleared for animal trials and then for humans? After the success of these clinical trials, the proof of concept of the vaccine was obtained, that these vaccines have emerged successful and can be brought out in the market as a final product.

Why are POCs important in software development?

Imagine investing in software that you’ve only heard of. There’s no proof of whether or not it’ll function. How frustrating is it when you can’t see your money multiplying because you can’t see anything happening? Would you even want to invest in something of a similar sort?

A POC in software development does the same. It gives the investors and the stakeholders something to stick to. And if they are on different pages for any kind of design or idea, it can be stopped immediately, and the right idea can be brought on track, rather than doing all the work and then redoing it.

How can POCs help you save money?

No matter what we discuss, you always require money to make something. Be it a house, a product, or even a packet of instant noodles. When you have a POC, you know where you want to head your product/ idea. You might create a completely different product than required and start from scratch again when you don’t.

It is always better to have a POC ready to check your progress and the direction of your progress.

What is an MVP?

2022 is all about the Meta world. How often do you come across features that Instagram decides to add? The answer must be pretty often. So how do you think they do it? They initially run these new features into a few users’ accounts as a starting measure. Based on how users react to it, they decide whether or not to add this feature to every account. This concept is called the Minimum Viable Product.

The term “minimum viable product,” or “MVP,” refers to a product that has just enough features to operate and perform. It is good enough to draw in early adopters for validating a product concept. In sectors like software, the MVP can assist the product team in gathering customer input as soon as possible to iterate and enhance the product.

How is POC different from MVP?

A POC is just the proof of whether or not an idea or a product works. The idea can be put forward without putting forward the actual product. You don’t need to show a prototype of what you plan to do and how your product is expected to function. The reality check of your product’s performance can be accepted as a POC.

It gives you the direction to reach your goal. And lets you know whether or not your product is needed in the market, and if so, which market. If no, then when will it be needed or what can be added or subtracted from your product to create a need for it in the market

An MVP is a product made and given to a few users to test. It is where a prototype is needed to check with the users if they like it, and their reaction is noted to see if the product is good to go.

While both ways are equally correct, the more economical practice is to create a POC before jumping to the MVP. As it is said, think before you speak. No matter what you make, you’ll always get a reaction for doing so. But what also goes into creation is energy, resources, and finance.

A POC, on the other hand, is a smart choice. Since all you need to do is to give direction to your idea and see whether or not it is leading you to your final goal, you can opt for an MVP post obtaining the POC, but jumping to the former without the latter wouldn’t be a wise choice.

What if I don’t feel confident enough in making a POC?

If you don’t feel confident enough to make or present a POC, you can always hire a specialist to do it for you. The chances that hiring a specialist to create a POC will cost you lesser than jumping to the MVP directly are always high. Multiple companies can help entrepreneurs develop POCs available on the internet; all you need to do is look for them.

A specialist makes it easier for you to think clearly and find new opportunities for your product. And sometimes, they can also add value to your thoughts and ideas, making it easier for you to think out of the box.