When founders of Google Larry Page and Sergey Brin joined hands to merge their PageRank idea and web crawler idea to find out the common word combinations, respectively, they did not have a smooth journey to the top.The question is not just how to build a product, but more than that.
Have you ever wondered what is that one thing that can ensure your product’s success? While some say it’s winning the trust of your customers, others will say staying loyal to your customers. If you are looking for feedback from family and friends, it’s difficult to get a genuine one because they might not be that candid in an effort to not to hurt you. So where do you go for the feedback? When do you launch your product? The most important question is, what are the checkpoints your need to tick off to start building a product in the first place!
Get an answer to all the If(s) and But(s)
It is foolish to expect customers to wait for your product to get completed and launched. What they want today, might not be in their lists tomorrow! The market demands change in the bat of an eye-lid. So, how do you manage such a moody market? How do you let them know that you are coming and also make them stay connected with you until you are done with your product, and after that too?
Image Courtesy: Post by Federico Camino on eoi.es/blog
What if your product doesn’t work the way you had expected? What if they don’t fulfill your customers’ demands? There are so many “what if(s)”. Eric Ries introduced the “Lean Method” for startups to get a grip on the lightening speed mood changes of their customers. He says, startups who have no budget or little budget should not head to complete their product and then launch it. You create a MVP, i.e. a Minimal Viable Product and launch your beta version. Your MVP will be ready in less time within a less budget, with an overview of what features you will be coming up with. This in-turn will help you get feedback from your customers enabling you to decide whether you will take it forward or stop it right there.
The Golden rules to build a product
Now that you know what approach to take, let’s move on to few guidelines for building a product.
There can be lists of Dos and Don’ts for an entrepreneur. However, if taken a clear note, most successful entrepreneurs have broken all rules to make it to top, the most paradigmatic example being Apple‘s founder Steve Jobs himself. There are companies like Mint, popular for its personal finance and Dropbox, the file sharing portal, who seems to have done everything just right. These companies serve as a benchmark for upcoming startups.
When building a product, CEO and founder of Accomplio Cohen puts down few rules for making success in product development:
- It’s essential you do not confuse yourself with your customers. This is because, you needs may not be exactly same as your customers. Cohen explains that your need for that product is much more “sophisticated” than your customers. So the first rule is “It’s not about you”.
- You must sketch out your marketing strategy because even you MVP needs to be marketed properly. Penning down an expensive sales theory is not a bright idea.
- Thinking about something and doing it, they both are no way related. So, design a product whose resources will be available to you. If you think of a product and just start building without confirming that you have the required resources, then you are actually digging a hole for yourself in the most coolest way!
- A product with many features is never cool. Too many features will confuse your customers. Keep it simple but include all the essentials ones you promised to put up in your MVP. Cohen cites Dropbox as the best example. Dropbox has not complicated its features, and neither has it added more even after it became popular. It stuck to what it is meant to do. Again, if you notice Apple, it did all of those things which were “not expected” from it. Cohen says Apple is unique and is rare; and we couldn’t agree more. Not all are Steve Jobs after all.
- Technology and innovation works hand-in-hand. That doesn’t necessarily mean, valuation and innovation will also share the same rapport. If you are thinking your product is technically sound, or may be because your product is something that was never seen before, it does not guarantee that it will work wonders in the market as well. Success is not about technically sound products.
If you are aiming for the corporate market, you might just sit back and think again. It is highly possible that even if your product goes down well with your users, it might not just connect with the IT departments who are responsible for technology purchase decisions.Cohen deliberately mentions that “customers and Users are not the same person”.
Learn How to build a Product before time runs out
Product development is never a cake-walk. If you want to build your own product, then the above guidelines might come to your id, but that won’t be enough. You need to have a thorough training from experts as to what to do,how to do and when to do. The Product Development course at Venturesity is meticulously designed to help you go that extra mile in building your product. In a span of 7 weeks, you will master the key points of not just building a product, but the right way to do so.