Posts Tagged ‘Product Development’
Should a Startup Outsource Product Development?
Outsourcing product development would seem to offer many benefits to a startup: lower cost, faster time to market and no fixed cost eating up runway every week. Product development companies that specialize in startups have reference designs and procedures that can significantly lower the number of hours needed to complete a project. They also have…
Read MoreWithout a Foundation of Research, Product Development Falls Apart
Think about some of your favorite products of all time. Maybe it’s your new pair of noise-canceling headphones. Maybe it’s a favorite skin care product, or a pair of really well-designed insoles for your running shoes. Or maybe it’s a particularly amazing project management app a colleague told you about. Now, think about WHY those…
Read MoreA Valuable Product Strategy You Might Not Have Considered
As business owners, we are always thinking about more: How can we find more clients? How can we give our clients more than our competitors do? And of course, how can we bring in more money? One way to offer more is to bundle your offerings. But what if bundling doesn’t always make sense for everyone…
Read MoreHow to Be a Great Product Manager
There are good product managers, and then there are great product managers. What’s the difference? Both good and great product managers (PMs) are more than competent when it comes to the basics, but our research has shown that the top 1% of product manager goes beyond the basics and also do the following: Market Validation:…
Read MoreOur Products Are Becoming Commoditized!
It seems every product, regardless of how complex, is destined for some level of commoditization. In virtually every industry, we look at products and solutions that were very complex. These require great product knowledge and extensive work with the customer to help them understand the product and its application. Over time, as products get greater…
Read More10 Strategies to Cover New Product Development Costs
The “valley of death” is a common term in the startup world, referring to the difficulty of covering the negative cash flow in the early stages of a startup, before their new product or service is bringing in revenue from real customers. I often get asked about the real alternatives to bridge this valley, and…
Read MoreMVP: What It Is and Why It Matters
Minimum Viable Product (MVP), if we ask our trusted friend Techopedia, it is defined as “The version of a new product a team uses to collect the maximum amount of validated learning about customers with the least effort.” The term first came about in the early 2000s thanks to SyncDev CEO Frank Robinson. It then gained viral traction…
Read More9 Ways to Spot an Opportunity for a New Business
As an advisor to startups and entrepreneurs, I often hear the myth that all new businesses must start with a great idea. I have to disagree. I believe the best entrepreneurs start by finding a large opportunity, and only then use good ideas to capitalize on that opportunity. The best opportunities are recognized from painful…
Read MoreParadox of Product Persistence
Paradox: On one hand, to keep a business healthy you have to be able to cut mediocre products. On the other hand, some successful products require sticking to them for a long time, stubbornly, to get either the product or the marketing right. Take a minute and think about it, and you’ll find examples of…
Read MoreWhy You Should Use 3D Printing for Your First Prototype
Even for smart entrepreneurs with a great new product idea, an extensive business background, and a spot-on sales pitch, the manufacturing process can be unfamiliar and even a bit intimidating. Don’t be confused, however, into thinking that your first steps into manufacturing need to be difficult or expensive. Step one of any manufacturing cycle should…
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