Creating an app with many of the functions that it should have if the user community does not take to it is always a hit or miss and is costly. Well, that is where MVP development comes in. Thus, if you depict your ideas as being aimed at the realization of the primary functions only, you minimize the threats on the one hand and gather important information on the other. Here’s how an MVP can give your app a competitive edge:

• Reduced Risk: Creating an MVP means that you do not invest in the full development of a product that might not yield the desired results. But you get real-world validation first before going huge or mass-production, as you see in the case of the ‘real-world’ churn.
• Faster Time to Market: The best way to move ahead of your competition is by getting an MVP out the door faster. You bring your idea into the market as soon as possible, which helps you take the first shot at the user base.
• User-Centric Development: If you only have real users’ feedback, you can get data and add improvements and new features based on that data to make your app relevant.
• Cost Savings: If you build MVP, only invest in making features that drive value outcomes upfront, and that makes it easier to invest for future versions.
• Data-Driven Iteration: Other benefits accrued from the use of feedback from the early users include The knowledge of what works and needs to be changed and The identification of strategies likely to improve user engagement.
• Proven Market Fit: An MVP proves that the idea is viable, which, when the person is searching for funds or a partner, is important since it shows others that the idea would work.
• Competitive Advantage: That is why getting to the market with a functional product first is a perfect opportunity to become a player in your industry before the competitors even begin to think about it.