In module 4, you will have learned the right tools & technologies that could be used to build the MVP.
Now, you’re going to learn how to determine a budget for the project and then how to determine what your MVP or MVF should be, based on your cost and time constraints.
When it comes to pricing and budgeting, very often entrepreneurs are at the mercy of developers.
There is a huge cost associated with not understanding the estimation process, not knowing and understanding developer’s best practices, and not having cost control mechanisms in place.
If you have no clue what things should cost and are relying on your tech team to estimate things without you understanding the details and knowing developer best practices, I guarantee you are spending more money than you need to.
Traditionally, you, the entrepreneur, would tell developers what needs to be built and developers would then “estimate” how much it’s going to cost to build it.
And because you don’t understand whether that’s an acceptable cost, you accept the estimate and then figure out how to pay for it.
But let me tell you, you can have the same project estimated to cost $10K and $50K and both estimates could be completely legitimate. That’s because the details of what and how you build something matters a lot.
If you are following the traditional model of estimation of “tell me how much this is going to cost”, you are almost always building more than you need to and therefore spending more than you need to.
Once you understand what affects development costs, you can actually work within a set budget and determine what and how things should be built based on your cost and time constraints.
In this training series, you’ll learn all the things that affect the cost of development and how to use that information to pick and choose what to build based on your cost and time constraints.
You will also learn the process for how to break up a large project into an MVP, and an agile estimation process that you can use to estimate the cost of the MVP.