Step #1 Identifying the necessary parametersThis is the most important part as it will give foundation to your search activity. The parameters give you a basis to compare and analyze the options. While browsing around for options, make sure you look for these parameters and score various companies on these grounds:
Industry domain of the company
Previous Projects and achievements
Agile Development Method
Types of MVP development offerings
- Wizard of Oz MVP- The aim is to have a picture of the final product. The MVP helps you observe the client’s response. Automatic functions are done manually.
- Concierge MVP- For each client, service is carried on manually to test initial performance parameters. The main difference with Wizard of Oz is that in a Concierge MVP, no technology is used at all. Each function is carried out manually.
- Piecemeal MVP– Existing tools and resources are used to deliver the MVP.
Presence of a blog – Insights and resources
Transparency and Tracking
Step #2 Creating the Big ListNow you have some clarity on your expectations. You also know that analyzing previous projects of a company is a good way to start your ‘massive search operation’. If a company specializes in the domain your MVP falls in, then it can be a potential option. You understand that agile methods and principles can get your project the speed it requires. You are sure if you are interested in a prototype, POC or an MVP. Also, you are looking for a company who are efficient in work communications and are transparent throughout the development. You are now aware of the parameters you’re going to judge a company upon. It’s time to start the big search. Change the ‘search phrases’ and try to identify which sites are common in all searches. Start compiling a list with sites you are able to identify with. Make sure you add comments with each list item so that it’s easy to come back later. Offshore outsourcing will help you save a lot of funds without compromising on quality. You can use location filters in your searches to target the most workable and cost-friendly outsourcing destinations. India stands at the top of outsourcing destinations followed by China and Malaysia (see table below). India also shares 55% of global offshore revenue. You can use such stats to use location-filters to refine your search.
|Rank||Outsourcing Country||Outsourcing Attractiveness|
Source- NASSCOM You can also try a top-down approach in searching where you enlist the MVPs you’re fond of. After that, you can start searching the developers of MVPs and reach out to the respective company. Keeping track of new MVP launches will help you find an MVP that matches your business model or business domain. At the end of these exercises, you’ll have a long list of websites/companies with relevant comments next to each name. More descriptive the comments, easier it is to refer the list again.
Step #3 Narrowing down the Big List
If the previous step involves a lot of hard work, this one will use high levels of awareness and critical thinking. You’ll have to let go of some of the companies from the list you have. The factors that you’re going to use to cut choices are feasibility, affordability, location, domain and the parameters from the first step. Don’t make assumptions while eliminating a company. You can send queries to understand an aspect of a company better. Try to frame an image of a company by analyzing how rich and relevant was the content on the website (and on the blog!). As mentioned before, analyzing the previous projects and the company’s portfolio is most helpful. Don’t be lured by the aesthetics of the website, look for originality and relevant content instead. So a combination of various judging parameters will help you narrow down the list. If you are not sure about a company, make a separate ‘maybe list’. Don’t just let go a name based on instinct. The more time you give to the exercise, closer you are going to be in picking the right technical partner for your business idea. If your mind is cluttered, take appropriate breaks. Sleep on your ‘maybe list’. Spend more time browsing the website and try to find more information through FAQs and support. Take help from your existing team and experts you may be knowing. After careful evaluation, shed off the incompatible names from the ‘maybe list’ and merge the remaining entries in your main list. Go through your main list again to check if you haven’t missed an important entry. You can do this by cross-checking with the comments you made while compiling the big list. At the end of this step, you’ll have a truncated list full of highly compatible MVP development services. This will be your new base camp for further pondering.
Step #4 In-depth background checks and Communications
Now that you have a short list of probable technical partners, it’s time to get into minute details. Start getting in touch with the companies in a more decisive manner. Your homework will allow you to ask clear questions on capacities of the business. Represent your core idea and your expectations. Observe how the organization is responding to your ideas. Keep noting important takeaways from each conversation. Also, keep jotting down your impression of the company after each conversation. It’s easy to forget something important you felt about a company while communicating. By background checks, we mean to track various activities performed by the company. Check the Facebook and Twitter handles of the company. Have a look at the communications done through the LinkedIn profile. Analyse the relevance of posts, interactions with others, reviews and quality of posts. Check the LinkedIn profiles of prominent members of the company. You can analyze how much of these activities are in line with the company’s mission and goal. Tools like Similarweb can help you get an idea of the volume of the traffic on a particular website. Comments on social media posts and blog articles is another effective way to understand how effectively is the company engaging with the audience. Visiting previous posts on social media can help you trace the progress of the company since its start.
Step #6 Making the final decision
It’s time to make the decision after weeks of analysis and consideration. To do so, you can further trim your ‘narrowed down list’ from the previous step to 3-4 final options. Continue communication with these final companies. Request quotations and compare the offers. By the time you reach this stage, you will have every detail of the companies — offerings, portfolio, blog presence, social media presence, customer reviews, website traffic, pricing, quality of customer management and various other minute observations. Compare each of the ‘finalist’ again on all the parameters. Scoring a company on a score out of 10 for each parameter is an effective way to quantify your data. After completing this exhaustive comparison, observe how the scores align with your impression of the companies. Repeat the comparison process at least 2 times to do justice to your analysis. Pick up the company that you think will do justice to your amazing business idea, that is easy to work with and scores well on your parameters. Don’t be rigid about a particular parameter, make the decision based on the overall impression. Best of luck for your unique journey with your new technical partner!