One of the most important decisions faced by entrepreneurs when launching a new business is whether to develop a prototype or a Minimum Viable Product (MVP). Gaining an understanding of the differences, goals, and advantages of each may have a big impact on how your product development project develops and, ultimately, how successful your business is.
What is a Prototype?
Prototypes are early models or iterations of products used to evaluate and test concepts or methods. Before full-scale development starts, it is typically a crude, functioning model used to illustrate and evaluate the functionality and design of the product. Prototypes are concrete representations of concepts that allow stakeholders to comprehend, test, and consider these risk-reduction tactics while iterating on the features and design of the final product. They can be low-fidelity, such as basic drawings or mock-ups, or high-fidelity, such as interactive digital models.
A prototype essentially provides a response to the query, “Can this concept work?” It helps you to look into design options, gather feedback from stakeholders and clients, and make decisions on the project’s viability and direction.
