In Part 1, we used setting up the sat-nav as an analogy for a Design Sprint. Next, we need real-time traffic updates to navigate the city. This is the job of an MVP
Invessed is the digital fast lane for asset and wealth managers. We use an analogy of a car journey to illustrate the key components of our process.
We started our car journey, by programming the satnav. As our journey gets underway, the challenge shifts to navigating the city traffic. Following the analogy, this is the job of a Minimum Viable Product or MVP.
- Design Sprint - set the satnav
- MVP - navigate the city
- Scale - join the motorway
- Agility - cruise control on the fast-lane
Navigating the city: the Minimum Viable Product (MVP)
Driving through the city can be a challenge. Traffic is thick and can shift quickly - and suddenly. To avoid frustrating delays, real-time traffic information and quick route adjustments are necessary.
The MVP is like real-time traffic updates for digital projects. Popularised by Eric Ries and his Lean Startup approach, the MVP is a "version of the product with just enough features to satisfy early customers", thus giving us real-time guidance for future development.
How does it work?
Building on the outcome of the Design Sprint, we will build a fully-functional website, portal or app in 30 days. The product will be polished but have just enough features or data to be credible. How is that possible? The key enabler is our library of pre-built components and Cloud framework. Here's what you get:
- Custom-branded website, portal or app
- Charting, document library, commentary, messaging etc.
- Data exchange with your CRM and data repositories
- Deployment on our Azure Cloud environment
- No compromises on security
How fast and how much?
An MVP can be booked within 2-3 weeks, and we aim to get the digital product to your beta customers within 30 days, though requirements may vary. Some specifics:
- A typical fixed cost of €20-30.000
- Deliverables deployed at the end
- IP of deliverables stays with the client
- Low-touch contracts - single-page T&Cs
- No obligation to carry out further tasks
What's next? Join the motorway as you Scale
With our sat-nav programmed, and real-time traffic updates enabled, we have negotiated the city traffic without unnecessary delays. With a functional MVP deployed, we are ready to scale up.
As the city lights disappear behind us, the freedom of the motorway beckons. The challenge here is to accelerate at the right time, merge in and get some speed going. In the digital world, we look to Scale-up.