Wondering what a SaaS MVP actually is? Or, have a great idea around the next big SaaS product? But. here’s a question: How do you convert your vision to reality?
Well, here’s a hint: Stop! Don’t simply rush to develop your product. Before you invest any of your hard-earned money into launching and developing a complex SaaS app, there are a few key things to consider.
For SaaS startups, in particular, it is always a smart idea to firstly validate your product idea, before you move to the development stages.
Developing the perfect idea requires you to firstly develop a scaled-down, simplified version of your product, the MVP (Minimum Viable Product), and deliver it to the potential customer without much delay.
What’s the benefit of Creating an MVP?
To answer in a short, precise manner, creating two-way lines of communication with the ideal target market or users, allows you to:
- Either dismiss or confirm the to develop the product.
- Understand the features to keep and the functionalities to pivot away from.
The Real Challenge?
Having a great product idea is one thing but being unable to turn your vision into reality is another. While many founders assume that the conversion of their ideas is only related to the cost of app development, that’s not the case.
Remember, developing a project is only one side of the cost, there’s more into the ‘how’ part. Let’s accept it if you have no idea about the development of a project and the budget required, it becomes just one side of the coin.
Therefore, besides developing your MVP SaaS product, it is equally important to have a reliable team of developers wisely.
Talking of the development, it is not a feasible option to opt for one specific in-house team. So, let’s take a look at some options you have.
Cost-effective Ways to Outsource the development of MVP SaaS Product:
1. Hire Freelancers [Cost-effective and Cheerful]
Outsourcing your projects to freelancers is a cheap, quick, and easy way to get started!
To help you gather freelance partners around the same, you can use multiple platforms for the same. However, the lack of obligations and promising attitude towards a project is one of the drawbacks of hiring a freelancer.
If we look at it closely, the cost of developing an MVP SaaS product might cost you anything between $5000 per month to $2500 per month. Overall, the cost of development would cost you around $13,000 per month.
2. Outsource MVP Development [Cost-effective, Reliability of operations]
Living in 2021, we can’t deny the possibilities of outsourcing. The mission objective here is to hire a team of developers to complete your project, but a price that is twice-trice lower.
As for costs, outsourced product development companies in India start at an average price of $30 per hour, making it as effective as $120 an hour for your MVP SaaS product development. If we calculate the costs, it could cost anywhere between $19,000- $22,000 per month, to help you develop an MVP.
Is outsourcing SaaS development a good idea for my product?
Yes, you can never go wrong with outsourcing your MVP SaaS product. To help you understand better, here are the primary objectives of such an approach:
- Reduced costs
- Higher revenue margins
- Access to an extensive network of capable developers
Now that you understand the challenges and have an answer to reliable outsourcing, we wish you all the best for your MVP SaaS development project. All the best!