#Why Start-up Should Focus on Minimum Viable Product

[quokkalabs]

The Importance of MVP Development Companies for Startups: A Complete Guide

In the dynamic world of startups, time, resources, and market relevance are crucial factors that determine the success of any venture. One of the most effective ways to ensure your startup's product meets market needs while minimizing risks is through MVP (Minimum Viable Product) development. This approach allows startups to bring a simplified version of their product to market, test it with real users, and gather critical feedback before committing to full-scale development.

But why is MVP development so essential for startups? And how can you choose the right MVP development company to help guide your idea to success? Let’s dive into the details.

What is MVP Development?

MVP development is a strategy where a startup builds a basic version of its product, containing only the essential features needed to satisfy early adopters. The goal is to validate the product idea quickly without incurring large development costs. Once launched, this early version of the product allows the startup to gather user feedback and make necessary improvements before investing in more advanced features or scaling up.

For example, imagine you are developing an app to connect fitness trainers with clients. Instead of building a full-featured app with payment gateways, scheduling options, and multiple trainer profiles, an MVP version may simply focus on allowing users to find and message local trainers. This way, you can test whether there's a demand for the service without spending significant resources on additional features that might not be necessary.

Why MVP Development Matters

The MVP approach is rooted in the Lean Startup methodology, which emphasizes learning through iterations and reducing unnecessary efforts. Here’s why MVP development is vital for startups:

Cost-Efficiency Startups often operate with limited resources. Developing a full-featured product can be expensive, and the risk of failure increases if the product doesn’t resonate with users. An MVP allows startups to launch a functional product while keeping development costs manageable. After gathering initial user feedback, you can determine whether to invest in expanding the product.

Faster Time to Market In today’s fast-moving markets, getting your product into users' hands quickly can be a game-changer. Building an MVP helps you release the product in its simplest form, allowing you to generate buzz and establish a presence in the market. This can be critical for gaining first-mover advantage in competitive industries.

User-Centric Development Instead of relying solely on assumptions, an MVP allows you to engage with real users early on. Their feedback will help you understand what features and improvements are needed. This ensures that your product evolves in a way that truly meets user needs, rather than building something based on guesswork.

Reduced Risk Launching a product is risky, especially if you’re investing large amounts of time and money without knowing how it will perform in the market. By starting with an MVP, you reduce the risk of failure. If the product doesn’t resonate with users, you can pivot or make necessary changes before making a full-scale commitment.

What Does an MVP Include?

An MVP isn’t just a stripped-down version of your final product; it’s a strategically planned development phase that focuses on core features. These essential features should address the primary problem your target audience is facing. Here’s what an MVP might typically include:

Core Functionality The MVP should solve the main problem you aim to address. For example, if you're building a food delivery app, the MVP should at least allow users to browse restaurants and place orders, even if it lacks advanced filters or payment options.

Basic User Interface While an MVP doesn’t require a fully polished design, it should still provide a smooth user experience that aligns with your product’s core value. Functionality should come before aesthetics at this stage.

Scalability Potential Though you are focusing on core features, it’s important to ensure that your MVP has the capacity to scale. This means building the product in a way that future improvements and features can be added without completely overhauling the initial development.

Data Collection and Feedback Mechanisms An MVP should be equipped to track how users interact with the product. This data will inform decisions on what to improve and what features to develop next.

How MVP Development Companies Can Help Startups

Choosing the right MVP development company is a critical step for any startup. The right partner will have the expertise to transform your ideas into a viable product while minimizing risks and maximizing efficiency. Here’s how MVP development companies help startups:

Expert Guidance An experienced MVP development company understands the nuances of creating a product that strikes the right balance between functionality and simplicity. They’ll guide you through prioritizing essential features and creating a product roadmap that aligns with your business goals.

Efficient Resource Allocation By partnering with a professional team, you ensure that resources are allocated effectively. Development companies bring experience in project management, design, and development, which helps avoid common pitfalls that could delay the project or drive up costs.

Iterative Development Process MVP development companies are skilled in working in iterative cycles. They help launch a basic product quickly and then refine it based on user feedback, ensuring continuous improvement without the pressure of delivering a perfect product from the start.

Post-Launch Support MVP development doesn’t end once your product is in the hands of users. The right development partner will offer post-launch support, including troubleshooting, implementing improvements, and scaling the product based on the collected data and user feedback.

How to Choose the Right MVP Development Company

Selecting the right MVP development partner can make or break your startup. Here are key factors to consider when choosing a company:

Experience and Expertise Review the company’s experience in MVP development. A partner with a strong track record in your industry will better understand your market and user needs.

Portfolio Evaluate the company’s portfolio to see the range of projects they’ve worked on. Look for products that match the level of complexity or industry relevance to your own startup.

Client Testimonials Read reviews and client testimonials to gauge how well the company communicates and delivers on its promises. Feedback from previous clients can be a strong indicator of reliability.

Communication and Collaboration A good MVP development company will maintain transparent communication throughout the project, keeping you informed about progress and challenges. Open collaboration ensures the product stays aligned with your vision.

Scalability and Post-Launch Support Ensure that the company offers post-launch support to help with ongoing improvements and scalability. You’ll need a partner who is in it for the long haul, not just the initial launch.

Conclusion

MVP development offers startups a strategic way to test their product in the market with minimal risks and investments. By partnering with the right MVP development company, you can launch a product that meets user needs, adapts to feedback, and evolves into a successful, full-fledged solution.

Choosing a reliable MVP development partner will enable your startup to focus on what truly matters: validating your idea, gathering valuable insights, and turning your vision into reality. With an MVP-first approach, you can minimize risks and maximize the chances of building a product that resonates with your target audience.

[topicgateway]

Start-up: how to create your MVP?

Today, we will see why it is important to create your minimum viable product (MVP) to test your product.

What is a minimum viable product (MVP)?

A minimum viable product, or MVP, is a test version of a product that has enough functionality to attract early adopters and validate a product idea early in the development cycle. In industries such as software, creating your MVP can help you receive user feedback as quickly as possible to iterate and improve the product.

When developing software, you have to choose between must-have features and cool features.

While it's easy to say that you should focus only on the must-have features in your MVP, it's hard to convince the customer or resist the urge as a founder to cut back on the cool features.

Why is creating your MVP important?

If you're developing a product, customer feedback is essential. Getting customer feedback quickly and improving the product is paramount to product success.

In creating your MVP, you need to add the main features of the product.

Features that the product team deems essential to customers may not be useful. Customers are quick to suggest certain features. The early adopters of your product will be the main advocates of your startup. If you serve them well, they will become a marketing machine.

‍How to create your MVP?

The moment you have an idea for a product or service, it's time to practice and develop your mvp. Each step should be defined with relevant tasks assigned to team members based on different skills and expertise. Now let's dwell on each step in detail.

1. Market research

The very first and extremely important step in MVP development is to analyze the market you want to enter. You need to analyze the following data:

Public needs and demand

Market competitors

Key market trends

‍You need to decide how your product will stand out from the crowd and make the customer's daily routine easier.

‍2. Refine your target audience

When building your MVP, the desire to make the final product popular for everyone is completely understandable, but it's not a viable option and it could hurt the entire project with inevitable financial losses and exhaustion of you as the project owner. So focus primarily on the people who are most likely to buy and use your product because they need it. At this stage and the next, you will need to thoroughly analyze the target audience. You need to ask yourself how the problem your MVP will solve correlates with your target audience?

3. Define the project vision

This step is a prerequisite for concrete actions, but it impacts the entire MVP creation process. Is it highly recommended to organize one or more meetings where all the main principles of the project will be discussed, and the action plan will be created.

Stay focused on costs and design your own strategy using a reasonable amount of time, effort, and funds.

Stick to the key functions of the minimum viability product and focus the majority of your resources on their development.

4. Define your MVP features

Before proceeding to practical steps, choose several key features that will become the core of your minimum viable product. List and prioritize functions.

A product of minimum viability usually includes a limited amount of the most necessary functions. These are the backbone of MVP. Define them and supplement them with a list of additional features.

5. Develop and test your MVP

As soon as all possible information has been collected and analyzed in depth, it's time to build and implement MVP.

Analyze the strong and weak sides of your MVP as well as ways to reach and avoid them respectively. Choose management and development techniques and test.

6. User feedback

During your MVP, you'll need customer feedback that will impact your final product. Be sure to create a structured method to get user feedback.

Then analyze the reviews received from users. Pay attention to those who mention the interface and usability, the list of functions, the design and the customer experience as a whole. Did they enjoy using the product? Are they likely to recommend it to their friends, colleagues, etc.? Is it worth its price? What features should I add/remove? Reviews can be diverse and individual, and it is better to focus on some recurring problems and improve the product based on them.

Factors affecting the cost of developing your MVP

‍The team you choose

The choice of partners is very important. There are two ways to develop your MVP:

Partner with people who have the skills to create your MVP

Building an internal development team

Outsource the development of your MVP

‍Partner with people who have the skills to create your MVP

This is the cheapest option to create your MVP. Partner with people who have all the skills needed to create your MVP. Creating your MVP won't cost you anything, but you still need to find the right people to partner with.

‍Building an internal development team

This is a rather expensive and risky way when considering the development of your MVP.

You'll waste time, resources, and money just to hire the team. And not to mention the fact that your budget has decreased before the development process even begins.

‍Outsource the development of your MVP

The best way to build your minimum viable product is to outsource your project to companies specializing in MVP development.

‍What for? Because they have:

Previous experience in building MVPs.

Will share their expertise to build a better MVP from the start.

Good team management to ensure on-time product delivery.

‍The MVP in no code is the fastest and least expensive way. Many no code agencies have specialized in creating no code MVPs.

‍The complexity of his MVP

The more complex your MVP is, the longer the time will be, which will increase the cost of development.

The more complex the MVP becomes, the more features you add, the more resources and time required for development will increase, the more the cost of developing the MVP will increase.

‍The technology used

If you create your MVP in code, it will necessarily cost you more than if you go through no code solutions that are often more than enough when we talk about MVP.

‍When to turn an MVP into a mature product?

At some point, you'll have learned enough and you'll be ready to launch your product. Does this mean you have to give up your MVP? Certainly not!

In most cases, continuous improvement and adding new features will turn your MVP into a mature product.

In other cases, at some point, your MVP won't be enough to sustain growth. You'll have enough learning and a better understanding of what works with your users.

[incepteos]

Don’t let growth kill your new product: Why the right tech start-up strategy matters from the word Go!

Building a start-up company, developing a new product or service and bringing it to market has never been easier, thanks to new technologies.

You’ve had an innovative, market-disrupting idea, maybe for a licenced SAAS product to offer your clients; through hard work you’ve created a minimum viable product (MVP) and it’s starting to generate interest. Time and cash flow are always in short supply but maybe you have enough in-house technical expertise to develop a first version of your product, or you’ve been able to outsource to an inexpensive coder to get the project off the ground and start generating income.

Your MVP has enough features to satisfy early adopters but, now that demand is increasing for your idea, you start to see that decisions made at the start of the development process are coming home to roost – and could sabotage your whole project, because:

Your MVP isn’t scalable and it’s taking too long to onboard new customers

Your product isn’t quite what the market’s looking for and you need to make changes

You need to add some functions to make your product or service far more appealing

The software supporting your product isn’t stable or secure enough

You have two options but they both come with risks:

Scrap your MVP and start again. But competitors may be busy working on their own version of your idea to beat you to the finishing line.

Redevelop your existing MVP so that it delivers better, faster and to more customers. But you don’t have sufficient technical expertise or the sheer bandwidth in-house to get the extra work done.

Taking a strategic, objective view from the start

It’s not easy to be great at everything; creating the right technical strategy from the beginning to support your start-up idea is as challenging as it is important. One of the earliest decisions you should make is whether to bring in outside expertise to provide technological knowhow, strategic planning and onward software support.

As well as providing coding and project management expertise, your technology partner also needs a head for business. They need to understand what upscaling really means for your product in terms of onboarding a higher volume of new customers, adapting to new markets, developing the product in response to feedback and to stay ahead of the competition. Their advice early on can save wasted effort in firefighting further down the line.

For example, moving to a Cloud-based solution may be the best option to improve speed of development and more agile scalability without the cost of ownership.

Introducing great UX and focus great UX as a focus and from the beginning on a level of marketing automation could improve customer retention, smoothness in marketing and sales processes enormously, hence your business results.

They may also bring in specialist knowledge in other areas you may not have considered, such as cybersecurity, and provide the systems support you need to ensure ongoing product availability.

Make yourself ready for success with the right software solutions

Start-up success can come sooner than expected, but it shouldn’t keep you awake at night worrying about how you can build upon a rickety platform that can’t cope with growth or change.

Decisions made at the start of a product’s life are often driven by necessity (a shortage of cash, time, or knowledge). But instead of trying to do everything yourself or cutting outsourcing costs, bringing in the right partner may help you avoid these early mistakes and give you a better-quality product from the start. In that scenario, your great idea is far more likely to turn your new business from a start-up into a scale-up.

About Incepteo

We are a proven provider for developing bespoke software applications for ambitious new businesses, providing the technological advice and support that transforms a start-up into a scale-up. From a sound technology strategy, we design and build robust new software solutions or upgrade your existing software applications, project managing and system testing for quality assurance every step of the way.

We also provide ongoing systems and applications support through our cloud hosting, systems monitoring and help desk services to allow you to focus on growing your business.

To see how we can provide the technology support your start-up needs:https://www.incepteo.com/solutions/startups/

[wamatechblog]

When creating a Minimum Viable Product, what are the most important factors to keep in mind?

When creating a Minimum Viable Product, what are the most important factors to keep in mind?

In today's cutthroat market, it's crucial for companies to tailor their customer-centric applications to the specific requirements of their target audience. Therefore, you will not fully understand the customer's needs until after the consumer has used the product. Businesses seeking a customer-centric perspective on their digital endeavour might consider implementing an MVP (Minimum Viable Product). The minimum viable product (MVP) strategy places emphasis on refining the business process and eliminating waste to ensure the long-term survival and profitability of the start-up’s products.

The goal of creating a minimal viable product (MVP) before moving on with a full-fledged product is to gain customer validation of the concept. This minimum viable product is used at the outset of the company's operations to gauge interest from potential customers in the company's main offering. Developing a minimum viable product (MVP) has proven that it can provide crucial feedback that propels a digital product to the next level. If you've got a killer app concept in your back pocket, the minimum viable product is where you should put your energy first. You could think that an MVP is a small project that only needs a few basic functionalities implemented. App creation is not as simple as it seems on the outside, and there are important details to consider if you want to see any kind of success.

It's crucial to keep in mind the following factors while developing an MVP:

Data collection in the marketplace: However original your idea for an app may be, you must first conduct extensive market research to keep up of current trends and protect yourself from any financial setbacks. Know your audience's preferences before you start making the product itself. Knowing your target audience through market research will strengthen your product concept, improve your problem-solving skills, and guarantee your consumers' complete satisfaction. If the buyer is convinced that your product is the best option for him, he will buy it. Accordingly, before beginning creation of the MVP, it is necessary to conduct extensive market research.

Construct your minimum viable product around the premise that you will never win over customers if you fail to meet their true needs. Create a layout that corresponds to the concept of your app; this is a crucial step in the development of your minimum viable product. Before settling on a plan of action, it's important to ask the following questions of yourself and your team.

Why should people utilise your product?

DO people like your minimum viable product?

When and how should you push them toward downloading your app concept?

Is there anything special about the way we address customer issues?

The next critical step is feature selection, which requires discretion in order to include only those features that are necessary to deliver on customer expectations. The main goal of creating an MVP is to get people to focus on the most important features, thus you should only pick those that are also good for business. It needs to be a proof of concept to ensure the ideas are sound without being too simplistic, and to collect valuable user input before moving forward with the full product.

If you work with a professional mobile app development Company, they can help you narrow down your options and settle on the most effective ones for your concept. Experts will be able to introduce only the finest ones for the MVP using the knowledge they gain from studying user demands, product vision, and final goals. These professionals are able to integrate features in a way that not only saves money but also effectively reaches the intended audience.

Your app's development team should catalogue all potential features and compare their benefits to the time it would take to implement them. You'll be able to make an informed decision about whether or not to implement the feature by getting a clearer understanding of how long it would take to do so. You need to pick elements that allow you to accomplish your goals with the least amount of effort and expense.

Especially for the minimum viable product (MVP), some companies don't see testing as worthwhile. As a result, many teams working on a project may stress over which features to include in a demo and at what difficulty levels. However, if the app's functionalities don't work as planned across a variety of use cases, the user may get the erroneous impression if testing was skipped. If the app has been through all the necessary testing, any version can be approved for use by the customer. The testing procedure you use will depend on the nature of the code you're writing. Always make sure you are delivering the expected product to the user by conducting thorough testing of the features in increments as they are produced. It will be much simpler for clients to provide helpful comments once the MVP is live.

Feedback accumulation and analysis is the key to turning your product's minimum viable product (MVP) into a successful product. It'll be a real-world demonstration of the product's effectiveness that should point you in the right way. Though you may not be able to include every piece of user feedback in the final version, the feedback you do receive as a whole will reveal what should be kept or improved upon.

The goal behind the Minimum Viable Product (MVP) version is to make adjustments to the product, thus you must be willing to make useful adjustments. The time spent fine-tuning and testing a feature may seem like a waste of time, but in reality, it's your best chance to deliver a product that precisely meets the needs of your target audience. Here, you may maximise your return on investment over a longer time period while reaping all the benefits of MVP development.

[creolestudios]

How to create an MVP to launch your SaaS application easily

Quick Summary: Any new application can fail due to misinterpreted customer demands or coding issues. As SaaS presents one of the best market opportunities to launch an application, businesses launch a minimum viable product with vital features before releasing the application on a large scale. This enables them to record the feedback, comprehend the market thoroughly, and gain insights to improve the overall application.

Due to increasing digitalization, SaaS development has rapidly emerged as a promising market. Fortune Business Heights predicts that by 2028, the SaaS market will be worth USD 716.52 billion! Making your product stand out in such a competitive industry may prove challenging. Making your product stand out in such a competitive industry may prove challenging, and launching a minimum viable product first can come to the rescue.

With SaaS MVP development, vendors focus on releasing a tester product-in this case, an application with core functionality- so that researchers and analysts may examine how well the features in the application perform.

This blog examines the specific benefits MVPs could provide SaaS products and the considerations you should make when developing a minimum viable product.

Why Build an MVP?

Even though every company performs thorough market research before developing a product, the product may still fail in the market. Thus, before investing a large capital in it, business owners can use the SaaS MVP to verify and validate their application or software with a sizeable customer base. 

It helps to provide insight into the mind of end users to comprehend the preferences and grievances of the target audience to interrelate and innovate the final product. 

Often, MVP can also demonstrate business potential. If the consumers love the MVP version of the software, it will secure support from stakeholders and investors.

The three key advantages of an MVP can be summarized as follows:

1) Gets feedback to improve the application and make it distinctive in this lucrative market

2) To gain confidence from investors and stakeholders

3) Encourage the target market to subscribe by endorsing and exhibiting the product.

The Step-by-step guide to planning a minimum viable product:

Wondering how to build MVP? We got you covered!

To understand the target audience’s needs and to design a product that fits the market, we have listed a detailed guide to assist your journey in MVP software development. 

Identify and Understand Your Business and Market Needs

The importance of market research in MVP can not be understated.  Launching an app similar to the already available one will not be a profitable venture; hence, it is crucial to evaluate the market and gather intel. 

Furthermore, it is also important to study the competitors and keep updated with the current trends and technology to always be ahead in the game.

Long-Term Goals

Once you have tapped into the market’s needs, you need to ask yourself these questions that determine your long-term goals. Up to 95% of start-up businesses fail due to their lack of planning. You can avoid being by answering a few questions before venturing into product development.

What am I trying to achieve with this app

What is the future of this application five to ten years from now

What makes my software/application unique

Success Criteria

The next step in the journey is to understand the success criteria of the application. How do you plan to determine that the application is a success? These criteria must align with your company goals. 

Are you looking for loyal customers and subscribers? Or Do you think the overall revenue generated is a measure of success? Or is completing the app on schedule and within budget your definition of success?

Map Out User Journey

The success of the application is directly proportional to user satisfaction. If the app is not user-friendly, chances are that it will not be used, with the risk of you losing potential customers and investors. 

Hence, it is critical to consider focusing on user journeys and experiences to include functions that appeal to them. A start-to-end user journey should be carefully crafted to ensure a smooth flow.

Identify the User

Before designing the workflow, understand who will be the target audience. Can you fit them into one category? One can group people according to occupation, gender, age, etc.

For example, consider a tool that allows you to find the closest doctors and schedule appointments with them. Every gender and profession will use such an app. Hence, your target audience is more than one category.

Identify the Actions

While developing a SaaS MVP, It is anticipated that the actions or jobs that the user may choose. If the application caters to multiple categories, different categories will expect the application to perform distinct actions. 

Continuing the previous example, if the number of searches and bookings for doctors in Area A is more and Area B is less, you can work on adding more doctors for Area A to meet  the demand.

Identify the Story Endings

Not every user will book an appointment; likewise, the ending may vary for every user. Some users might browse to look for doctors, while others might ask a query using the app.

Create a pain and gain Map

It is critical to construct a pain and gain map to grasp the issues experienced by the consumer and the solution offered by MVP. Customers’ challenges are represented by pain, and the feature that helps to solve them is represented by gain.

The map enables you to identify the core problem users are experiencing, for example, if they struggle to schedule an appointment with a specific doctor because they cannot locate the available times. In this example, customer satisfaction will increase if the application makes appointment scheduling simpler by giving users access to all available time slots.

Decide What Features To Build

Since an MVP is created by collating a few features, not everything the customer wants should be on your priority list. The developer should balance what the user requires with what the user wants to produce a feasible MVP for SaaS.

Benefits of SaaS MVP Development:

SaaS MVP development gives businesses a safe and secure route to slowly launch their product in a market without incurring a major financial loss. 

Recognize the Feasibility of an Idea

Even if you think your application is perfect for the market, testing your idea on an open platform is necessary. It gives you an insight into whether your idea is sustainable and compatible enough to gain new customers. 

Save Significant Resources

A complete SaaS software requires a team of professionals to build software with multiple features that appeal to the customer. Hence, it requires a generous budget, time, and resources.

However, there is always a risk of the end product not being appreciated in the market. Since MVP is a small-scale version of the software with only key functionality, it requires less time and money and can help you understand the future of the software.

Collect Rapid Customer Feedback

MVPs can allow users to use and evaluate an application in real time. The developers can ask the customer to rate the application and give feedback. Collecting such data will result in early bug fixes and can help remove additional features that are not necessary for the final version of the product.

Building an Efficient SaaS MVP Development

MVP can be considered as the prototype of the actual application. The real-time user feedback can assist in further improving the MVP. It might also help to research the rapidly expanding SaaS market to launch a solution that answers an unanswered pain point in the market.

Define the Market Trends and Customer Requirements

You can push the software into the development zone if the customer is satisfied with the MVP. Since the product is already tested in the market, there is a massive possibility that with improved features and functionality, it will be a success. 

SaaS MVP Development Cost:

For any startup or an established firm, the developer must estimate the cost of developing an MVP. Everyone thinks their product is the best and can change the market dynamics. However, you should paint a realistic picture and an affordable budget for the MVP model.

It might be challenging to calculate the cost of an MVP because there are so many variables involved in the prototype-building process. For example, the kind of team selected to develop the application, the business goals, the number of features they plan to establish, etc.

However, you must select a developer with experience in preliminary app development who can cater to your needs.

Conclusion:

If you are new to the concept of SaaS MVP, it may intimidate you with all the specifics and technicalities one must monitor before launching it in the market. So, make sure to create products and test your audience to launch successfully in the market. Here at Creole Studios, we will assist you in converting your imaginative product into a reality.

With our rich talent pool of SaaS application development services, we can help you design stunning MVPs to align with your business model at an affordable cost. Get in touch with Creole Studios to discuss your MVPs features.

[ Original Source: How to create an MVP to launch your SaaS application easily? ]

[kedilerkabilesi]

Ways to Select the Best Product Concept to Offer Market

There are numerous steps needed to bring an item to market, yet ultimately, everything begins with the item suggestion itself. If you have the incorrect product concept, after that all the other steps, despite how well you execute them, will not matter.

I always claim execution is where the real value is, yet it still needs to begin with the product concept. You should pick the greatest item concept to offer the marketplace.

1: Economical to Develop and also Prototype

The top attribute of a winning product is it needs to be inexpensive to create as well as model. Product development is so much more complex than a lot of laypeople can picture.

It's essential that you, specifically for your first product, try to make the product as basic as feasible. That way your advancement expense will be decreased and also your time to market will certainly be much less.

You must obtain your product to market as quickly as feasible so you can start collecting market responses. You can utilize that feedback to potentially customize the product to satisfy what the actual market demand is.

I constantly urge the concept of a Minimum Viable Product (MVP). Allow's say your item's core functionality is Bluetooth sound, however, you are likewise thinking about potential secondary features such as activity discovery or GPS monitoring.

In such a case it is usually best to focus on only the core, see also how to promote my invention. important functions for your first item version. As soon as you have genuine market data and sales after that you can take into consideration adding any type of possible second features.

However, you still should study and evaluate every one of the potential features so you can pick the most effective functions to consist of in the future as soon as you have the marketplace information to back them up.

For instance, if a particular function enhances your production expense by 10% but also allows you to increase your list prices by the same quantity, then that may be a smart option.

Or maybe, the additional function will instead offer to raise sales of your product, hence compensating for the 10% boost in cost.

2: Budget-friendly to Scale to Mass Production

You desire an item that's not only budget-friendly to create but is likewise inexpensive to scale from the prototype stage to mass production. These 2 requirements can be completely different for many items.

It's possible to have an item that is easy to establish, but complicated to range to manufacturing. One significant difficulty of scaling an item to mass manufacturing is the cost of shot molds required for any custom-made plastic parts.

Each personalized item of plastic will certainly require its shot mold. For truly high quantity production, these molds are extremely expensive. A minimal expense for mold and mildew will be about $1,500 for an easy, low-volume mold. A lot more complicated molds for high-volume manufacturing can cost 10s of countless bucks each.

Although establishing a product that requires a bunch of customized shaped plastic items may be economical making use of 3D printing, it will become considerably extra pricey to scale when injection molding comes to be called for.

3: Prospective for a High-Profit Margin

I understand creating and marketing a brand-new item can be significantly amazing and also enjoyable. Eventually, the goal is to make cash?

This implies you need to focus on an item with a high-profit margin. You ideally desire the suggested retail price for your product to be around 4x what it sets you back to make.

You can push that to 3x the manufacturing price, especially if you're offering straight to customers and also not experiencing distributors or retail chains. Yet I would not go any type of reduced. For one point, it comes to be remarkably challenging to expand a business with low-profit margins.

That being claimed, you can not anticipate making a high revenue when initially beginning. You'll be fortunate if you can simply break-even on your initial tiny production run. Often you will certainly need to sell your first several hundred systems muddle-headed.

As your manufacturing quantities boost so will your earnings margin. As soon as you get to quantities of 10k-100k items for many customer items that are when you should anticipate making a substantial profit.

Earnings need to never be your prompt objective, and that will come later as you scale to greater volumes. At the onset, focus your efforts on reducing your growth expenses, not on making the most of profit.

You do require to have exact estimates on what your production price and earnings margins will be once you get to those higher volumes.

You may break even on quantities under 1k, make a small revenue on volumes in between 1k and also 10k, then make a revenue margin of 33% for 10k items, as well as finally reach 50% at quantities of 100k devices. You just need to understand upfront that as soon as you get to high adequate manufacturing degrees, significant revenue is feasible.

If you determine in your evaluation that 25% of earnings are all that can be made, even at high manufacturing volumes, then you likely may wish to think about various products or consider if you can boost your sales price.

Keep in mind that capitalists enjoy high-profit margins (obviously, right!) so having a higher possible earnings margin will make it easier to find them.

4: Existing Competition

You want to pick a product suggestion that has some competition. Wait a min, isn't competition a negative point? Should not I concentrate on establishing a product that is completely unlike anything else in the marketplace?

The answer to both of those inquiries is no!

Bringing a distinct item to the marketplace can be challenging. Not only do you have to convince people that this problem even exists which they need to be fixed, but you likewise have to persuade them that your product is the most effective remedy to the problem.

Additionally, with completely new items, you don't also understand for sure that there is a market for the item. Nevertheless, having a competing product that currently markets well gives some proof that there is a market for your product. You can consider a completing item as in advance proof that a market already exists for your product.

That being stated, you do not want excessive competition, which is what I'll go over next.

5: No Dominating Competitors

Although some competitors is a good thing, too much is a bad point. If you assume you're going to compete with the likes of Amazon or Apple, you're just going to get consumed for breakfast. That's not something you intend to ever before attempt to go after.

As an example, I would not suggest that you attempt to come up with a product that directly takes on an Amazon Echo. Of all, you will never be able to compete with Amazon's rate because they have substantial economies of range.

You can never contend with them from a branding or advertising perspective. Dominant firms like Amazon.com, Apple, as well as Microsoft have online reputations for essentially ruining their competitors.

As an additional instance, I would certainly never advise that anybody develop a new mobile phone.

To start with, a smartphone is unbelievably complicated and also pricey to establish (Apple spent millions establishing the first iPhone).

There are so many competitors already that it would certainly be impossible for a brand-new startup company to ever stand out in such a jam-packed market.

6: Convenient Market

You wish to pick a product that has an easily-reachable market.

Possibly you might be believing, "Everybody on the planet can utilize my item. It does not matter their age, area, gender, line of work, or income, they all will desire it!".

Perhaps you are believing "so 1% of individuals purchase my product that will suggest 100 million units as well as $10 billion in earnings". By the way, such a statement is a significant red flag for capitalists, causing them to flee as rapidly as possible. Please don't ever claim something like this.

I understand it seems wonderful, as well as you're likely seeing dollar signs in the billions! Yet the fact is a market that includes everybody will certainly be difficult to reach.

It will constantly be much easier to sell your product to 10% of the people in a group of 100,000, than 1% of a team of 1,000,000 people.

You are much better off focusing on a niche product, or at least somewhat of a particular niche item, that has a market that you can get to. This is the factor for the expression "the treasures remain in the specific niches".

Many of you understand that I developed and also brought to market my hardware product. What you do not understand is before that, one of my very first business ideas included marketing tourist-related things in Australia.

I had eventually developed the idea that precedes there is no up or down, so there is no defined top or bottom to the Earth. The reality that Europe, as well as The United States And Canada, get on the top of globes was plain since Europeans developed the majority of the early maps as well as globes.

There is no reason why a globe can't be inverted with locations like Australia, Antarctica, as well as South America on top of the world. My idea was to offer upside-down worlds and maps (as well as tees as well as such with upside-down maps) in nations situated south of the equator.

I'm not Australian nor have I ever before checked out Australia. I was pursuing this completely from the other side of the world in the U.S.

I had some initial good luck with it. I had called a lot of individuals in Australia, vacationer stores loved my suggestion, and also they wanted to bring my items in their shops. However ultimately, that company suggestion wound up stopping working. You can also check how to get my invention off the ground

The main factor it failed was I was trying to get to a market that was actually on the other side of the world from me. It was a market that I did not comprehend.

7: Recurring Income

Lots of may state the Holy Grail of earning money is it to develop repeating revenue streams. Recurring profits simply implies that your clients pay you a fee automatically every month. Most of the on-line software program solutions you use are spent on a regular monthly persisting basis.

If someone acquires your hardware item, can you include a monthly charge to utilize an internet solution or an app that connects to your product?

Discovering a way for your organization or product to have reoccurring profits will certainly be a substantial boost for your business, especially if you ever wish to look for outside specialist investments.

A lot of investment companies such as this element since it makes earnings much more predictable and enables a firm to expand much faster. Bolt.io is an angel investment group that concentrates on equipment products. They particularly favor equipment products with a recurring income model.

Repeating revenue is such a coveted method of making money because it's foreseeable. People can cancel their subscription or subscription, yet as a whole, you will certainly have a team of customers that just keep paying, allowing you to know just how much you're going to be bringing in each month.

8: Upfront Marketing Research

You always need to perform significantly ahead of time marketing research before you fully seek a new item idea. This research study is going to help you identify if you're focusing on the most effective product idea.

Let's claim you conduct some early marketing research using surveys, as well as your study feedbacks return as, "I hate this item," or, "I would certainly never buy it," or, "I would certainly pay $5 for it, but you're asking me for $100?".

Those results are informing you that this item is not something worth going after.

It's hardly ever that easy. It might be simple to quickly confirm a suggestion misbehaves, yet not so easy to confirm that it is a good suggestion.

This is particularly true with physical products where you are restricted in just how much ahead of time research you can do because you don't have a product yet to offer or reveal.

Your early market study surveys might reveal that individuals like the item concept, they claim they need it, and they also say they will certainly acquire it when it ends up being readily available.

Nevertheless, if the item does become available these same people might never, in fact, acquire it.

This is because it's one point to state you like an item and would buy it, but it's rather another point to place your hard-earned money down to purchase it. A person who states "I love the product, I would purchase one," could stroll by it a hundred times in a store as well as never acquire one.

Simply recognize the constraints of any market information that doesn't consist of cash changing hands. What people tell you they will certainly do is a lot various than what they actually will do, specifically when it concerns spending money.

You must still make it a concern to collect as much of this very early feedback as possible.

Market research is just one of the essential benefits of having an on the internet target market. If you do not have a target market already, then begin developing one right away.

After gathering feedback from your audience, you can move on to the best marketing research, which is to begin pre-selling your product. This is what happens with crowdfunding campaigns.

For crowdfunding, lots of people focus on the money they will certainly get, yet the most useful part is the marketplace comments and also evidence you will certainly get since individuals are choosing your product with their money.

9: You Currently Know the marketplace

Concentrate on an item for a market that you already understand. This is preferably a market that you have previous experience in. This can be prior experience marketing to this market, or just on your own belonging to this market.

If you're a carpenter, for instance, focus on items that woodworkers use or that are used in home building and construction.

You do not need to constantly restrict yourself to your prior experience, yet the markets that you have operated in, ideally over several years, are going to be the ones that you recognize the most effective.

You're already able to comprehend what the marketplace desires, versus trying to pursue an unknown market, as I did with Australia.

10: Fixes a Known Issue

Your item needs to resolve an issue that individuals already understand they have. It's testing enough to inform individuals on why they require to acquire your remedy to a problem they have.

It's also tougher to inform them concerning a problem that they don't recognize they already have. It will make it significantly more difficult to sell your product if you have to do both.

Having to make the client aware that a problem also exists, suggests it's something they've never thought of, so it's not going to be a top priority for them.

That's tough to market. Rather, concentrate on items that address issues people already understand they have.

11: Distinguished Item

Your product requires to be dramatically varied from what's currently around, and you do not ever before wish to remain in a scenario where you need to contend on price. Contending on cost relates to low-profit margins, which as discussed already is never a good thing.

Rather, you require to contend on the item itself and also the value that it adds, and out the cost. Doing so will offer you a lot higher profit margins and also permit your company to expand much faster.

To do this your item needs to be distinguished somehow from any other options currently on the market. What makes your item much better than any kind of remedy presently on the market?

12: The Price Is

Make sure to pick an item that's in a good cost range. To start with, you don't want a product that has as well reduced a cost. That's because it will require a lot of volumes to make any kind of significant income.

This was among the major errors I made with the physical item I offered the marketplace. It only sold for between $5 and $10 meaning I had to offer a massive number to produce considerable earnings as well as revenue.

On the other extreme, if your item is too pricey, state $1,000, then that will certainly present a substantial obstacle to people buying, particularly if you're an unknown business.

It's much easier to get $5 or $10 out of an individual, and even $100 than it is $1,000. Particularly if they do not understand you or have experience with your items. That's mosting likely to be a substantial barrier to purchase.

Concentrate on products that aren't too low in cost, however also not too expensive. I 'd claim between $29 as well as a few hundred dollars would be the best cost variety. Follow inventhelp on Instagram for more advice https://www.instagram.com/inventhelp/?hl=en

Verdict

The genuine value may be in the implementation, yet it all starts with the concept. You require to make certain you are putting your time, cash, and also initiative right into an item that has the very best opportunities for success.

If your item concept isn't the very best idea to seek wouldn't you rather recognize it currently as opposed to later on? You need to constantly be able to pivot as fast as possible. The even more you know, and also the earlier you know it, always the far better!

[tanyatalwar]

FinTech Apps – How to Build One For your Business?

The FinTech apps industry is encountering rapid growth considering there’s an ongoing revolution in both customer behavior and the way businesses operate. Everything from banking to insurance to cryptocurrency is seemingly coming up with newer forms of ways to interact with its customers, majorly through fintech apps for mobile! Based on reports from Statista, over 65% of Americans plan to shift to digital banking exclusively by 2022. One of the major driving factors of such a trend is customer experience.

The FinTech industry is quite varied, expanding over several sectors. According to insights and studies from CB, there are currently 41 VC- backed Fintech unicorns with a combined worth of $154.1 b. In addition, the market raised around $13.4 billion only in the first quarter of 2021.

Moving on to the revolution in the FinTech market, we shall now highlight the importance of mobile apps in the industry, and then about ways to build an ideal FinTech app.

Reasons Why You Need FinTech Apps

The time to build a Fintech app is now! Apart from the growing numbers of the FinTech industry, here are three other compelling reasons why you should invest in a FinTech app:

1. Financial Illiteracy

It is a general assumption that people are now more aware of their economic warfare than ever. Especially with the growing student loan crisis globally, people focus their attention on managing their money now more than ever. However, the opposite holds. A survey from S&P suggests that around 57% of Americans are financially illiterate.

Other findings also reveal that the financial literacy rate among Americans has decreased from 43% to 34% since 2009. This implies that about eight in ten Americans have some sort of debt and that their finances are one of the major sources of their stress. These numbers are shocking even among millennials. About 76% lack basic financial education, making the scenario all the more difficult.

Hence, this depression makes for the huge potential for mobile apps. If an app can help people manage their finances without knowing all the financial jargon, it will be a huge hit.

2. Open Banking

The next major reason for the rise of FinTech apps is the shift towards open banking. Considering how businesses evolve their working during the pandemic, banks are bringing their services to their people by going all digital.

Not only does digital banking enable interconnectedness, but it also incentivizes the data. Using this data, they remain relevant to their customers. Open Banking also helps in building complex FinTech solutions to manage financial data.

3. The Domination of Mobile Phones

Currently, there are more than 6.3 billion unique mobile phone users across the world. The usage of apps is hence, growing at a much faster rate than predicted five years ago. It is also safe to mention a strong demand for automation and the availability of mobile solutions for almost anything, especially related to finance. As of now, there are only limited bank managing apps, apps that support online payments, and for making budgets.

How To Build An Ideal FinTech App

In this section, we walk you through the different steps of creating a FinTech mobile app solution. This app development process is common for various industry sectors, including cryptocurrency, banking, credit score management, security, and investments.

Let’s go through the steps one by one.

1. Choose a niche

The first aspect of a Fintech app development is the niche. Decide on the several functionalities of the app. Your app value proposition should align with the process of development. Some of the common functionalities of an app for increasing ROI for landlords, for instance, is:

User authentication and encryption

Secure hosting

Checking credit score

Payment gateway

Access to banking data

Real-time transfers

Chat to communicate with users and customer support

Just like that, the list of your app functionalities will provide a blueprint for the niche you want to target and the marketing activities you want to follow. Also, it will help you have an idea of the app development costs. As experts in the FinTech app market, we recommend you have a clear understanding and solution proposal to make the development process all the more streamlined.

2. Choose Technology Stack

An important aspect of developing FinTech apps is choosing the right language for them. Currently, there are multiple languages available for developers to use. However, the selection must be based on factors like the project’s deadline, complexity, preference, the developer’s expertise, and much more.

Here, we highlight some of the top-notch developing languages for coding apps divided among native apps, cross-platform apps, and progressive web apps.

Native Apps:  These apps are usually built following the technical guidelines of a particular OS. This means they do not provide a cross-platform function. They have the smoothest performance and the greatest user experience.  

Ios-based: For these native apps, you can use Objective C, Swift, Apple XCode, and IoS SDK.

Android-based: You can go for Java, Kotlin, Android Studio, and Android SDK.

Cross-Platform Apps: The next important apps we are going to talk about here is the cross-platform app. They usually require a small developer team and expertise in languages like React Native and C#. In addition, if you want to go for a hybrid app, you must choose an app development partner with expertise in HTML 5 and PhoneGap.

Progressive Web Apps: For Progressive web apps, other effective technologies that can be used are Node.js and C++.

3. Ensure Legal Compliances

Once you’re through your app niche and features, it becomes critical to ensure that the legalities are in place. Based on the geographical area you want to release your app in, legal compliance may vary. So, you need to check on security aspects of client’s identities and carefully work around the same.

4. Create or

Hire a Team

Now, this may seem like an easy step to achieve, but it is not. Amongst all of these steps mentioned above, this is the most crucial one as it will change the face of your app. Your team should collaborate with you like a partner and provide you with the best solutions specific to your business challenges.

UI/UX Design: An ideal UI/UX design is essential for all Fintech applications. Since the user interacts with your design, your app developers need to ensure that the app is easy to use, explicitly functional in all aspects, and is devoid of needless features. Some of the must-haves for your UI/UX design are:

Colors in alignment with the branding, and yet not too dull or too bright.

Straightforward user journey

Accessibility of different options shouldn’t be hard to discover

No useless or crowding of features.

5.

Develop an MVP

The next step here is to start with a Minimum Viable Product, justifying the solution you want to provide with the app. It ensures that the app is running well and adding value to your customers, as planned. In addition, an ideal MVP can help create room for efficient feedbacks and scope of improvement.

6. Improve and Support your

FinTech app

The last step in the app development process is to keep upgrading and to improve your app with relevant functionalities, as per the feedback. The work of app developers does not end with the development and deployment of the app. Also, you can add newer features from time to time to attract more people.

As experts in the mobile and enterprise field, we have helped multiple FinTech companies to achieve higher ROI with their mobile apps. Get in touch with us to have a solution-centric approach for your Fintech business challenges.

[gemiifloxacin]

(Blog 5) To Improve is to Change; To be Perfect is to Change Often

Change is a probably the only thing that is permanent in this world. To change one’s aspect for the better is a courageous act and should not be taken lightly. And just like in life, change is important in the world of business too.

I have watched two of the latest lectures, but I will focus more on the first video since that particular video left an impact in that small part of me that is curious about the business world. Honestly, I’m still reeling from the impact of the Korean drama I just recently finished which was about start-ups and experiences we gain from our mistakes.

In the first video, I learned another meaning for the acronym of MVP which is commonly known as Most Valuable Player in sports, but in the business world, it means Minimum Viable Product.

This MVP is part of the customer validation. When starting a business, we must – of course – learn how things about business work. But the first step to decide on and establish a business is to identify problems in the environment by the customers – or even based from the creator’s experiences – in order to provide the perfect service that they need.

Each and every one of the business started with good ideas. But these ideas shouldn’t stop at this stage only. One must build, measure, and learn in order to successfully establish this simple idea and introduce it to the world for everybody to experience.

But in life, things don’t become successful overnight. Change is fundamental to improve and hone one’s product to provide the best quality of service you can offer to your customers. These small-ideas-turned-business don’t improve and innovate by themselves, but rather, the mistakes made along the way are necessary to improve and realizing these mistakes are identified through customer feedbacks and complaints.

Through the customers’ feedbacks and complaints, one can focus on where they are lacking and improve it so as to satisfy the need and demand of the target market. Which is why changes are crucial for the innovation and improvement of a product service.

The key is to perfect the product over and over and over again in order to achieve the closest – if not, best – quality you can provide your customers with.

There are also points to remember when making an MVP. First is to never bother one’s self with boring written business plans.

But aren’t business plans the soul of businesses? Technically, yes. But for MVP’s, business plans don’t need to be perfect. Multiple errors are acceptable since it just means that there are plenty of room for improvements.

Second, place the primary focus on the learning and not solely on the product. One should focus more on the learning and not just the product; this step aids and develops one’s ability as an entrepreneur. Giving more attention to learning process of improving products is a step to becoming a good entrepreneur; and since numbers and values are basically the blood of business – learning and understanding the quantitative aspect of business also helps a lot.

Third, do things that don’t scale. This means that one should identify the core consumers of the product. One should seek and search for them and recruit them – they will not approach you, you must approach them.

And fourth, your MVP needs fewer features than you think. It is highly acceptable is no one is interested – this is basically a step in the learning progress. It is also important to test how to reach customers so as to widen the reach of the proposed product service.

In this subject, we also created a product service based on what we have observed in our surroundings and also applied a bit of medical aspect to relate to our course. We tested our hypothesis to a wide range of core customers and came back with a lot of feedbacks and opinions which we then incorporated in order to improve the quality and service of our proposed product.

Honestly, we made quite a handful of improvements in our products because our core customers had a lot to say as well based on the interviews we have conducted. It was frustrating to come up with improvements to satisfy the demand of the customers but it was undeniably enjoyable as well.

[yodrm-blog]

Yodrm Business Plan MLM New Launching Plan 2020

A YODRM MLM business plan is a must if you want to succeed with your online business. This type of strategy is going to be the one you use to set up your company, it is also going to be the one that you use to get customers and keep them. You are going to need a YODRM MLM business plan because if you do not have one, then you are missing out on a great way of marketing your business. A plan is a great tool for your success because it helps you focus on what your goals are for your company, which in turn will help you make sure that you keep moving toward your goals. If you are new to this type of marketing strategy, you may want to use a YODRM MLM business plan template to get you started. It is a good idea to look through some of the templates so that you can see exactly how they are written and what they are trying to say. You may also find that the business plan template that you use is pretty easy to read. You should also look at your financials before you use a YODRM MLM business plan template, and then you should go over these numbers with a fine tooth comb so that you can make sure that you are going to be able to meet the goals that you have for your business. You should also look at how much money you have to work with before you begin writing your business plan. You should make sure that your company is going to be able to keep up with the demands of your new product or service. The main goal of your YODRM MLM business plan is to put your business out there and let people know that you exist. You should also write this document so that you can show people what your company can do for them. You want to convince them that you are the best and most viable choice for them. You may find that it is very difficult to write a good business plan. This is why you may want to hire someone to help you. If you think about writing it yourself, you may not know where to start, which is why hiring someone to write it for you will be so helpful. http://www.join-yodrm.com/ Call / WhatsApp - 96505 60289, 88600 99199 About Company Company Name - Digital Revolution Technology LTD Website Name - Yodrm.com ( Your Own Digital Revolution Marketing LTD ) YODRM (Desh Ka Digital) --------------- Proven IT Products Delivered and Patented by Company ShopSabkuch.com ( E-commerce - Desh Ki Dukan ) Go Game 11 ( Gaming Site ) VIDSCOP ( Share What You Love - Video Sharing Site ) My Tube World ( Video Sharing Site - www.mytubeworld.com ) Khabar 007 ( News Site ) CHITTHI - ( Like WhatsApp Application ) -------------------- TYPES OF INCOME FIRST INCOME Joining Subscription Packages - Package - 1 Rs 2000/- Shopping Wallet - Rs 1695 GST:- 305/ DIGITAL TASK FIXED INCOME Income Per Week - Rs 100 Administration Training charges ( 15% )- Rs 15 Balance - Rs 85 Transfer in Shopping Wallet ( 20% ) - Rs 17 Balance - Rs 68 Income Per Month Rs 68 X 4 - Rs 272 Total Income for 48 weeks - 3264 --------------------------------------- Package - 2 Rs 4000/- Shopping Wallet - Rs 3390 GST:- 610/ DIGITAL TASK FIXED INCOME Income Per Week - Rs 200 Administration Training charges ( 15% )- Rs 30 Balance - Rs 170 Transfer in Shopping Wallet ( 20% ) - Rs 34 Balance - Rs 136 Income Per Month Rs 136 X 4 - Rs 544 Total Income for 48 weeks - Rs 6528 -------------------------------- Package - 3 Rs 8000/- Shopping Wallet - Rs 6780 GST:- 1220/ DIGITAL TASK FIXED INCOME Income Per Week - Rs 450 Administration Training charges ( 15% )- Rs 68 Balance - Rs 382 Transfer in Shopping Wallet ( 20% ) - Rs 76 Balance - Rs 306 Income Per Month Rs 306 X 4 - Rs 1224 Total Income for 48 weeks - Rs 14688 -------------------------- Package 4 Rs 15000/- Business Volume:-12712/- GST:- 2288/- DIGITAL TASK FIXED INCOME Income Per Week - Rs 950 Administration Training charges ( 15% )- Rs 142 Balance - Rs 808 Transfer in Shopping Wallet ( 20% ) - Rs 162 Balance - Rs 646 Income Per Month Rs 646 X 4 - Rs 2584 Total Income for 48 weeks - Rs 31008 ------------------- Income 2 Digital Development Bonus ( Direct Sponsor Income ) Direct Sponsored By You - 5 % of Principle Amount -------------------- Income 3 Team Development Bonus Pair Matching Income - Rs 10% of Principle Amount ------------------------- Income 4 Leadership Bonus ( 1% of All Income Earned - Sponsored By You ) ------------------------ Income 5 Reward & Recognition Program -------------------------- Income 6 5X Reunion Earning ------------------- Projects for Upcoming Years 2020 ShopSabkuch.com ( E-commerce - Desh Ki Dukan ) Go Game 11 ( Gaming Site ) VIDSCOP ( Share What You Love - Video Sharing Site ) My Tube World ( Video Sharing Site - www.mytubeworld.com ) Khabar 007 ( News Site ) CHITTHI - ( Like WhatsApp Application ) 2021 IT Group, Hosting & Software Development Farmers Empowerment & Agriculture Growth Social Media Website & Application Chat Messenger Application Job Services Portal Public Media Cable Channel 2022 Medical Services Food Services Cab Services Matrimonial Services NGO to Help Needy People Consumers Associations 2023 Digital Dish TV with WiFi Market Research & Feedback Data Collection Public Media TV Chanel Online Book Publishing Website Judiciary Services Search Engine 2024 Develop The Best Manufacturing Company: Electronic; FMCG; Garments; Etc. Develop The Best Educational Organisation Develop The Best Medical Organisation ---------------------- Indian Bank Details Bank Name - HDFC BANK Name - YOUR OWN DIGITAL REVOLUTION MARKETING LTD. Account No. - 59258585858585 IFSC - HDFC0009358 Branch - 47, MIDC, ANDHERI EAST MUMBAI -------------------------- Bangladesh Bank Details Bank Name - CITY BANK Name - DIGITAL LIFE SOLUTION Account No. - 1401877124001 Account Type - CURRENT Branch - KAWRAN BAZAR, DHAKA, BANGLADESH ------------------------------ Bank Payment Guidelines Minimum bank payment will be 1000. 5% processing & 10% STP will be applicable on all earnings; 10% STP is not applicable on Team Development Bonus. 5% TDS / Tax is applicable on any payment withdrawal. 20% of the Promotional Earnings will be credited to the shopping wallet. Digital Promotional Earning will get credited to wallet on the 30th day of completing promotion. Using payment gateway for pay-outs will be convenient & appreciable. For ShopSabkuch Earning, unit valuation depends on products. http://www.join-yodrm.com/ Call / WhatsApp - 96505 60289, 88600 99199 Email: 110networkmarketing@gmail.com Mobile number: 8860099199

[johnpeltier]

How to Conduct a Product Opportunity Assessment

Originally published on The PM Vision [now defunct].

Product teams exist to assess opportunity and capitalize.

Product managers are tasked with finding market problems that are urgent, pervasive within a certain target market, and that people are willing to pay to remedy. Once found, product owners guide the development of a profitable solution to those problems. (at smaller organizations, or for new product initiatives, those duties may be owned by the same person)

Market problems can be solved with new service offerings; new features; new partnerships; or new products. Given limited resources, however, product teams can’t pursue every opportunity. They must prioritize.

In traditional corporate environments, teams conducted extensive research prior to starting a product effort. The business case served to document the context, rationale and revenue potential of a business opportunity.

Over time, it’s been proven that this snapshot of the world is out of date as soon as it’s “completed,” and builds expectations for the solution as-currently-imagined such that pivoting based on market response becomes difficult. While some teams take a truly iterative, lean approach to product development, there are still quite a few who still need to assess the opportunity ahead of time; but there is room to utilize to a more concise opportunity assessment.

Three Approaches to Product Opportunity Assessment

The more significant the investment needed to develop a proposed solution, the more detailed the assessment should be.

Large organizations answering to PE or to Wall Street need to demonstrate profitable use of capital; they’re not rolling the dice. They invest in only the promising opportunities.

In order to invest in only the most promising opportunities, it pays to start working through the sequence of assessment techniques until you’re comfortable the investment decision. The bigger the opportunity, the more thorough the technique, generally speaking.

The three methods I propose in ascending order of thoroughness are:

Scoring (most applicable for features in an existing product)

Opportunity Assessment (big features or small products)

Prototype / Minimum Viable Product (full size products)

Scoring

The quickest assessment technique is to evaluate your idea according to a weighted scoring formula built into an easy-to-access spreadsheet. This tactic allows ideas to be quickly ranked against each other.

There are several versions of the prioritization spreadsheet -- and methods that include RICE (Reach / Impact / Confidence / Effort) and MoSCoW (Must, Should, Could and Won’t) -- but they all align around quantifying an idea on a number of metrics and using a weighted formula to rank them.  

These approaches are often enough to prioritize enhancements to existing products.

My friend Jason Brett has shared the 60 Second Business Case , which is my favorite of these quick spreadsheet methods:

Jason’s approach maps to an existing customer base and product in market, supporting operational necessities as well as thresholds for scoring projected revenue impact. The headings can be modified to apply the evaluation technique to the needs of any product organization.

Scoring opportunities allows a team to quickly focus on ideas worth pursuing, and to filter the rest out.

Opportunity Assessment

For ideas that past the first screen, and for those ideas suggesting larger features or a new product altogether, a slightly more involved opportunity assessment may be warranted. Marty Cagan suggests that answers to the following ten questions should comprise the assessment of a product opportunity:

Exactly what problem will this solve? (value proposition)

For whom do we solve that problem? (target market) / (user and buyer personas)

How big is the opportunity? (market size)

What alternatives are out there? (competitive landscape)

Why are we best suited to pursue this? (our differentiator) / (Do we need to partner?)

Why now? (market window)

How will we get this product to market? (go-to-market strategy)

How will we measure success/make money from this product? (metrics/revenue strategy)

What factors are critical to success? (solution requirements)

Given the above, what’s the recommendation? (go or no-go)

This information forms the basis of a business model canvas or lean canvas as part of assessing the opportunity as well, and considering the business strategy stalwart, the SWOT. (or a Product Canvas!) The canvas should include key elements like:

Solution – To elaborate on solution requirements, include a short description of the solution itself to keep everyone on the same page.

Weaknesses – A standard prompt from the SWOT: What things that we aren’t good at should we consider?

Threats – This one might overlap part of Porter’s 5 forces: Is this an easy market for others to enter?

In some cases, to clearly communicate the product idea being considered, a rough sketch of the solution is useful. A visual illustration of the product concept in wireframes, along with a list of key workflows, can ensure meeting of the minds. This is particularly important when this assessment is to be shared within a team.

Prototype / MVP

In a Lean Startup, market testing a proposed product idea at a very early stage offers the opportunity for early learning from that market testing, and then adapting based on the learning. For product concepts that address unsolved problems in new markets, this is another tangible step on the road toward commercialization.

Some questions–such as how much someone will pay, and whether a product workflow matches actual business process–may not be truly answerable until a potential customer can evaluate a prototype in their own hands.

In this sense, it may actually not be possible to evaluate an opportunity without some sort of MVP--whether it’s software or not.

Startups

Startups–essentially funded experiments working to find a business model for a new offering–can use the same techniques.

Because their purpose is to experiment and not to be profitable immediately, startups often follow an initial hunch which looks like a basic opportunity assessment, and build an initial product that is offered for sale. (The MVP)

Iteration, rapid development and learning become key, while struggling through the first few customers until enough customers are won to declare product/market fit.

The initial assessment helps frame the MVP and iteration by clarifying where the market is and how big the problem is. The assessment and MVP, in this case, aren’t intended to “prove” profitability as they might be (mis)used in an Enterprise product company. They are intended to discover new markets.

Conclusions and Rule of Thumb

Use the opportunity assessment to try to prove that a given market problem does NOT provide a viable opportunity. There could be many reasons, including:

Perhaps there isn’t a big enough market segment

Perhaps the opportunity doesn’t offer enough revenue potential

Perhaps the opportunity does not line up with your organization’s strengths/strategy.

In any case, it may not make sense to build an MVP; or it may make sense to revise the proposal (pivot) before building anything. If, instead, your results suggest there may be something there, you have one or more hypotheses to test with an MVP!

My general rule of thumb is:

Do as much due diligence as is appropriate for the investment you’re considering.

A quick check of the wind direction might be enough to validate your decision to prioritize features of a product already in market. For a new product opportunity, you’ll want to conduct a more thorough opportunity assessment, in case there are reasons you shouldn’t go forward to the prototype / MVP stage….that will allow you to invest instead in a more promising idea.

Image from: Pixabay

[quickscrumtools-blog]

In this fast changing and high business competition era, it is very tough to start and grow the start-up to a profit making business entity, a Minimum Viable Product (MVP) approach enables start-ups to provide a safe and risk-free option to try out an idea.

[eov-blogs]

MVP Development- What, how and Why?

In the world of digital product development, MVPs are most talked about! While developing a digital product is very demanding in terms of time and effort, MVPs help you focus on the app success. How? They have a crucial impact on the real users and make the target audience your only priority. In this blog, we are going to have a brief look at what an MVP is, how it will help you and assist in market validation and what are the steps involved in the MVP development process.

What is an MVP?

MVP stands for Minimum Viable Product. It facilitates the developer to assess whether or not the basic model of their product and its main functionalities are in line with users’ needs. Stating simply, an MVP validates the customers’ response to product value proposition. It is highly beneficial to collect information and gather user feedback. This comes especially handy in case of start ups where you get a fair idea of the app’s usability before investing a huge sum.

Let us just make one thing clear here, that a basic version of the app doesn’t mean anything less in terms of functionality. An MVP has all the characteristics like the app’s usability, core value, visual appeal and workability.

How does the MVP development process look like?

MVP development is a step-by-step process that requires research, journey mapping, problem solving and feedback collection. Let us look at this process at a little more detail below.

Step 1 – Thorough Research

The first step, is obviously, research. When you think of any idea that crops up in your mind, you need to find out a lot about its usability, target audience, workability and more. Most of the times, a product fails because it is not able to connect to its users. So, you need to conduct proper research about your target user base, their needs and preferences.

Step 2 – Identifying target group and journey mapping

Th next step is to find out who your targeted users are. You need to know them he best you can – their behaviour, likes, patterns and preferences. This will lay down a concrete foundation for building user journeys, user interface and user flows.

Step 3 – Finding out user issue

Once you are done identifying your target audience, you need to define their problems. You will have to work on answering one question mainly – how will your app help in addressing their particular problem?” This is crucial as it will help to decide what features are imperative to your app.

Step 4 – Offering the early version to potential users

You need customer validation for your app success. So, you need to roll out the basic version of the app to your potential users. The app will have all the main features, with the maximum value. At the launch, all the app features should be linked to the final product’s main objective.

Step 5 – Collecting user feedback and making changes

Collecting feedback for your MVP is crucial. In fact, that is the whole point of developing an MVP in the first place! Collect feedback and re-evaluate your MVP. Make necessary changes and fix all the issues that were reported to you by the users.

Now, we have a basic idea of what an MVP is and how its development process works. We will. Now look at why building an MVP might be beneficial for you.

Why MVP Development – Its benefits

There are many advantages of building an MVP before launching the final version of the product.

Better understanding of the market needs

With an MVP, you can better gaze if your product fulfils the needs of your target audience or not. With a team of experts, you can build an app that gives you a fair idea of what changes or features your final app must have.

Higher return on investment

It gives you an opportunity to test your idea at minimum expenses and a short period of time. You will get to know whether or not your audience is willing to pay for your app. Also, with much lower risk of failure, you get great returns on your investment in total.

Saves you development time

Since you would be making the real users a part of your development process, you end up saving quite a lot of resources that you can utilize in other segments like marketing, advanced development, or other projects. Also, you will no longer have to work again and again on your final product as all the changes would have been made in the MVP stage.

Do you have a product idea in your mind, but do not know how to go about it? Are you worried if your product idea is viable enough to be accepted by the target audience?

Connect with us at EOV and find out! We provide comprehensive MVP development services that will benefit you and help you set out on your journey to success!

[skytoddsblog]

Creative Problem Solving Methods Interviews

Sarah: Business Strategy at Adobe, Concert Photographer

1. Sarah generates ideas by looking at a lot of other artists for inspiration. She is mostly inspired when she sees work that’s a little more unconventional (whether that be using graphic design elements or bold colors), or work that evokes a deeper feeling (usually very cinematic photos that look like stills from a movie). Her main obstacle recently has been a lack of content because she hasn’t been able to shoot much concert photography since March of 2020. Another obstacle for her is lack of knowledge or ability - she’s had to self teach the entire way through with my photography, and recently I started to learn After Effects to create 3-D photos. Since this wasn't a skill that I previously had, I ended up watching a lot of YouTube tutorials to pick up basic skills. 

2. Once Sarah finds a few photos she’s inspired by after her shoot, she goes into Photoshop and edits each one individually. She’s not a huge fan of presets, because she thinks that each photo needs very specific and individualized treatment.  On top of the fact that she likes to add graphics to a lot of her images. Then, she’ll scroll through her own work and see what styles/types of photos have performed the best on socials in the past. She’ll use that as a point of reference when editing new photos. She has to be cognizant of engagement because in most cases, those photos are going to a publication that will repost them on Instagram. 

Sam: Social Media & SEO Management for a wellness startup 

1. Sam finds that he’s best able to generate ideas and find inspiration when he’s experiencing very little sensory input or just one or two main streams of sensory input and being present. He generally starts with playing music that fits the atmosphere of the objective he’s trying to reach as well. The main obstacle he faces when coming up with new ideas is analysis paralysis (thinking that an idea is too outlandish, too boring, or not unique). He typically overcomes this obstacle by making an effort to put himself in a headspace where he feels safe and confident internally. 

2. With most of his problem solving, Sam usually likes to start with a blank sheet of printer paper to organize information, thoughts, feelings, and ideas. He typically folds that piece of paper into 4 separate sections where he creates sections for objectives, processes, timelines, and miscellaneous. This folding method isn’t always the case for him though. Sometimes he’ll fold in half as well. It just depends on the problem presented. Starting off with a blank white sheet allows for almost any form of organization which is why it appeals to him.

 Jael: Founder of GT Goods, Content Creator

1. Jael generates ideas through asking himself questions such as how, when and where:

- How: Research adjacent/successful/new sources of relevant inspiration, who's killing it in this sector? Who's slept on? Who's failing? See what you like, what you don't like, what works, what doesn't. Think, “what is nobody doing?”

- When: When intentionally exposing himself to things he dreams about or aspires to achieve, during sunset cruises past nice houses by the beach, watching videos of cars he wants to drive, looking through product catalogues of goods he wants to provide. 

- Where: At home in his room browsing through online content, out in the world driving through neighborhoods he wants to live in, visiting stores that offer goods I'd like to design/produce, or local meetups/events around cars he wants to own.

Jael’s main obstacle is narrowing down on one design and limiting his involvement/invested-ness in his current work. He often overcomes this by reminding himself of the value of MVP (minimum viable product) concepts and fail-fast techniques to test for product success and market demand, and remembering that not everyone is going to notice the details he notices. 

2. Jael attempts to solve problems by using this method:

- Identify(ing) the problem at hand, isolating symptoms and possible scenarios.

- Research(ing) the problem and root cause, breaking it down into smaller parts, and understanding how and why it works. 

- Plan(ning) possible solutions, parts/information required to execute, mapping out goals, logistics, limitations, prepare plan A, B, & C. 

- Execut(ing) the plan. 

- Test(ing) the solution, gathering information acquired during execution, and evaluating success. 

- Monitor(ing) the solution for long term feasibility, reliability, sustainability. 

Main Takeaways:

Although I’ve never tried the folding method, my ideology probably resonates most with Sam’s problem solving techniques. Sam’s folding method allows him to break down the problem he’s attempting to solve in manageable chunks which is something I prioritize too, although I usually make a digital timeline which differs from his pen to paper method. I admired how one of Sarah’s techniques involved analyzing her old work to see “what didn’t work and what did” and apply those positive outcomes to her current work; this is something I don’t do nearly as often as I should. Similarly to Sarah, I almost always use Pinterest to gain inspiration for my design work or just to get my creativity flowing. Jael’s problem solving method reminded me of the design thinking process that I use when problem solving, but misses one of the most important steps I follow, which is empathizing. 

When reviewing each of their interviews, I thought their processes were all similar in the fact that they all focus on individual work. As someone that collaborates often with other designers and engineers, I sometimes forget the value of individual brainstorming and really checking in with myself before presenting ideas to others, which is something I can take away from these interviews. Jael’s process (identify, research, plan, test, execute, monitor) seemed to be more deliberate and calculated than Sarah’s process, as she more so relies on the various feelings evoked by different pieces of work as well as what people liked or disliked about her past work. On the other hand, Sam seems to utilize the environment around him in addition to his day-to-day feelings to generate ideas, then goes into organization-mode using his folding method to problem solve. 

[lenywatson]

How to start a Distribution Business in 2021

Starting a distribution business can be exciting if you know how to manage it. There is no doubt that it is one of the most productive trades on the list, and there are many entrepreneurs who are interested in starting this business.

Essentially, your role as a ‘distributor’ is to act as a middleman between manufacturer and retail shop owners. However, there are some cases where distributors sell directly to consumers as well. Initially and without any structured system in hand, You may find it difficult to keep jumping between producers and retail traders, but if you work well and hold all the threads firmly, then it is not so hard as well.

If you are thinking of entering into this industry, then this article on ‘How to start a Distribution Business’ will help to kick off your journey. Here are the things given in this list that you should consider before starting.

Factors that should be considered before starting a distribution business:

A distribution business needs proper market research, a viable implementation plan, and other key things to consider if one wishes to start a business. Here are the essential items to consider:

Making a good business plan  

A good plan is half of the battle. Making a proper plan before starting a distribution business will save not only time but also money. A good business plan integrates the business strategy and vision while addressing all the issues. It is less likely to fail if the business plan identifies the challenges as early as possible, sorts them before they become a pain in the neck, and helps to create a smooth business journey minimizing the risks in the journey.  

Choosing a product/Figuring out what to sell

Many products are available in the market, but you should choose the one already in demand or is expected to increase in demand in the near future. While running the business, you obviously want to make a profit; when selecting a product, you should carefully measure how much profit you can make from it. To make the business viable, following the core principle of trading business, you must buy products at a lower price and sell them at a higher price. Analyzing a competitive scenario of that relevant industry and other complementary products is also a must. So, figuring out what to sell is an extremely critical decision that you must take rightly.

Competition analysis

After selecting a product at the initial stage, the next step is to filter the business idea through various processes in order to analyze the competition. The purpose of a competitive analysis is to find current and future competitors and identify their strengths and weaknesses (compared to your position in the market), and observe how they are approaching the market.

Upon proper analysis, you can ascertain the possibilities of effectively outranking your competitors. It may include estimating what is needed to make a significant push in the market regarding money, resources and strategies.

Looking for the right business partner/Investor

To create a successful business, you better have a trusted partner who shares the same spirit and commitment as yours. It will greatly reduce the pressure of managing a business from a single end. It will also facilitate the flow of new strategies that will come up by sharing ideas. On the other side, having one or more business partners can significantly reduce the initial investment or capital required to start and operate the business.

It is also important to keep in mind that an investing partner can only be attracted if the business model can clearly show ways of managing it profitably. So after finding a profitable product and doing an in-depth competition analysis, you can offer or share your business idea to attract people as operating or investors partners.

Overcoming Implementation challenges

After the planning stage, you need to develop a beautiful implementation plan to execute the goals outlined in the initial stage. In the implementation stage, you will fight those identified challenges and start cutting your path to success. Needless to say, many more unpredicted challenges will appear on the way. So you need to stand firm, keep your focus on growth, and keep moving forward, breaking all the obstacles.

Making a proper marketing plan

A realistic but ambitious marketing plan will surely serve as one of the crucial success factors for your business. Many businesses fail due to a lack of a proper marketing plan or failure to execute as per plan. However, it has become much easier to reach customers in today’s technological world and get them aware of your product and service.

Nowadays, online digital marketing has mostly taken over the space of old-fashioned physical marketing. That’s why it’s good to have a specifically targeted marketing plan at the beginning of the business in order to implement it by creating a beautiful blend of online and offline marketing; centered on the target audience of the product.

Managing inventory

One of the core challenges of implementing a distribution business is managing the warehouse properly and delivering products to the proper retail shops or locations. The more delivery points a business has, the more challenging it becomes to manage the warehouse. You, as a distributor, have to keep an accurate account of the product flow that is coming from the manufacturer and is delivered to the retailers. At the same time, you have to keep track of the returned products coming back from the retailers to the warehouse.

To manage all of these channels a proper distribution management software is necessary. With the help of such software, organizations can manage inventory and deliver products without any hassle. You can use a suitable distribution management software system to manage the warehouse, which will allow you to bring all the warehouse accounts and retailers in one place and get accurate data.

Securing the Sale Price

You need to make sure that you are making the product more competitively priced so that you do not lose out to the competition. There is no general rule regarding profits since each product and industry is different; find a competitive price depending on the supply chain and industry analysis.

Recommendations

1) Don’t take it lightly

Do a comprehensive analysis of the market, your competitors, distribution channels, and everything that may affect your business operation in the future.

2) Keep your mind open

Be willing to accept the reality of the market you are trying to reach out to. Although you may be doing well in your current market/ industry/ business, keep in mind that you are likely to be a stranger in your new market. Embrace the local business knowledge by letting go of your ego.

3) Start small

It’s not practical to cover an entire country or region in one shot. Begin small, measure, test, and then expand slowly. Plan for a pilot test and a field validation. Make a small-scale test of your strategy.

4) Look for third parties

To start a business in a new market, what should you do? A solo trip or accompanied one? It depends. If you have the full capacity for distribution, coverage and knowledge of the market, direct penetration may be an option. If these options are not available, and in most cases, it is better to include a third party that knows the market while reducing financial risks.

5) Don’t neglect your current operations

Getting caught up in the moment makes it very easy for one to lose focus. Usually, what is new is more attractive than what we are doing currently. Keep in mind that your current operation, brands, and products are what generate cash for new projects, especially while scaling up your business.

Summarizing and wrapping up:

Starting a distribution business is a mix of challenges and opportunities. Managing the retail channel is a tricky thing when you are new in the business. In order to maximize sales, a business needs to study its distribution network and business strategy, evaluating its products, distribution capacities, and strategies.

Initially, it might be wise to conduct thorough market research and test out one or two products with minimum investment to gauge the market’s reaction. If the business goes well, you can expand wisely according to the demand.

[techrevus]

12 Latest Android Application Development Trends

The android app development industry is evolving at a rocketspeed and to survive in this digital Darwinian age, it is important to get well acquainted with the rapidly changing mobile application development trend.

When it comes to mobile application development, the Android operating system gets the limelight and it deserves attention.

Are you presently looking forward to having a powerful and robust app developed by a leading android mobile application development company? If yes, you should need deep insights to know about the android app development trends that are going to dominate the global app market in 2025.

Let's check out some crucial stats about android apps and their trends-

Today, Android is one of the most commonly used mobile OS that holds 85% of the global market share

Google Store boasts 3.04+ million applications

These stats indicate that the Android application development market is going to be more powerful in the coming future and developers need to educate themselves with the latest trends to ensure a unique experience for the users.

Top android application development trends to watch out in 2025-

The android apps continue to see regular changes that are primarily oriented to the user experience and innovations.

As a smart entrepreneur, you should know about the following android application development trends to stay ahead of the competition-

1. Android Instant Apps:

Though android instant apps are not very common now it’s gearing up slowly in the app market. Using the Android Instant apps APK and Apps Link Assistant, the developers can build mobile solutions from scratch and convert them into the Android Instant App.

The best things about Android Instant Apps are that they work seamlessly across all the devices, take less space and offer an excellent user experience.

This type of app is the future as it allows users to use the app without compromising on their smartphones’ storage space.

2. Navigation Components:

These are the multiple interactions that enable the user to move around in the different sections and content pieces of the app. Android Jetpack comes with all the components that allow developers to create such navigations.

Navigation components are here to stay as they ensure a consistent and predictable user experience.

3. Blockchain:

Finally, blockchain technology has taken the technology market by storm. When it comes to developing a decentralized app that ensures no unauthorized access and promotes complete transparency, blockchain is the best solution.

The blockchain technology market is expected to grow at 62.73% CAGR by 2020, making $52.5 billion.

The open-source and contract-based Decentralized software applications run blockchain transactions. Data in Decentralized applications, cannot be changed and erased.

The reasons why Blockchain is a futuristic technology are it ensures faster payment, strong and reliable data retention and apps are tamper-proof.

4. Google Assistance/Chatbot:

More than 50% of buyers prefer the Do It Yourself type of service for making an online purchase.

Chatbot has already become a crucial component for many customers' service-oriented mobile applications.

Google has dug its heel further deep in this field to offer a highly user-friendly Google Assistance service.

With the majority of enterprises have started integrating chatbot solutions and users appreciating quick answers to their problems, it's high time for you to implement chatbot in your android mobile application.

5. Cross-Platform App Development:

Flutter, the new technology introduced by Google, is being considered as the future of Android mobile app development. It allows android application development services to develop stunning mobile apps with a single codebase.

The majority of android application developers prefer Flutter as it’s easy to learn and it comes with a native design.

It’s an excellent platform for minimum viable product development. Instead of developing two applications for Android and iOS, developers can create a single app that runs on both the platform.

With the recent update, Google has brought Flutter to a new height as now it enabled developers to create web applications also.

Flutter developers now can develop applications for Mac OS, Windows, Linux and other embedded devices.

Some of Flutter’s latest updated features are-

·       Decreased size

·       Stunning animations and updated UTF-8 strings

·       Enhanced mouse cursor support

·       Zoom and drag-drop features

·       Improved date picker

·       Enhanced help for Metal on iOS and new Material gadgets

 6. APM and EMM

APM (Application Performance Management) and EMM (Enterprise Mobile Management) have become crucial components for enterprise-level mobile application development. When it comes to ensuring a faster mobile application, these two technologies come in very handy. With the rising number of android app development ventures, APM and EMM have become important testing measures for developers.

In the coming days, APM will be used to see the application behavior, measure device and OSS statistics and screen user performance.

EMM will be leveraged to do mobile device management, app management, application wrapping and containerizing.

7. Motion Layout:

When it comes to managing an app’s motion and widget animation, modern developers use the Motion layout. This tool comes with the Constraint layout library and is fully compatible with Android 4.0. This tool’s advanced libraries enable developers to handle complex animations and layout transitions. Now developers can create multiple interfaces with animations with the Motion Layout.

8. Beacon Technology:

Modern businesses have already started leveraging the potential of Beacon Technology as it allows them to target potential customers more efficiently.

Beacons are small, wireless transmitters that use Bluetooth technology to send the signal to other smart devices within a specific range. Businesses use this technology to send various notifications, marketing offers to their potential customers.

Be it about implementing a push marketing strategy and developing an opt-in marketing strategy, beacon technology has made it more convenient for businesses. Both on-cloud and at-area, the beacon technology can be used.

With the skyrocketing popularity of beacon technology, we can assume that very soon this technology will be used at airports, shopping malls, restaurants. Contactless mobile payment options would also use beacon technology.

9. Android Enterprise:

Digital Transformation is here to stay for a long time and keeping that in mind, Google has already come up with an initiative called Android Enterprise. It enables workers to use enterprise-oriented Android apps at their workplace. It comes with various APIs and tools that enable android developers to integrate support into enterprise mobility management.

10. 5G Technology:

5G is the much quicker and efficient version of 4G technology. 5G’s high radio frequency and 10 GBPS offer superior data transmission using 1.4 billion mobile gadgets worldwide.

Android developers can create highly powerful and robust applications using 5G technology.

11. Mobile Wallets:

Already many businesses have started developing mobile wallets. Let’s take Google Pay as an example. It is expected that more businesses would focus on developing their mobile wallet applications to ensure highly secure and convenient transactions.

12. Augmented Reality:

Augmented is now the talk of the town. Augmented Reality is going to rule the Android app market.

According to Infoholic Research, the Augmented Reality gaming market is expected to reach $284.92 billion by the end of 2025.

It allows developers to present more data and objects to the users in a more engaging way.

Wrapping Up:

Each year comes with innovations and these trends will keep on updating with time. Looking at the trends mentioned above, we, as TechRev’s custom web and app development team can confidently claim that Android is growing in leaps and bounds to provide the best-in-class user experience.