How Startups Can Keep Product Development Lean

YoungUpstarts

by Steve Owens, Founder and CTO of Finish Line Product Development Services. In this article we explore the unique challenges of a lean start-up and how Outsourced Product Development (OPD) can be used to overcome them. Reducing product turn time. Established businesses understand the competitive landscape – they know their customers and they know their competition. Established companies have a long history of product launches to learn from.

Realistic Strategies For Funding Product Development

Startup Professionals Musings

Angel investors and venture capitalists are looking for startups with real products and a proven business model, ready to scale. Yet I still get too many business plans that clearly are looking for money to do research and development (R&D) on a new and unproven technology. This early stage is often called basic research , well before any specific commercially viable products might be envisioned. Commercial product prototypes. Expanding the product line.

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Product Development Improvements That Are Shaping The World

The Startup Magazine

Product development involves the creation or modification of a product, satisfying a market niche or newly defined customer. Now more than ever, plastics are very useful in product design because there are a lot of benefits of using plastic.

10 Strategies To Cover New Product Development Costs

Startup Professionals Musings

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. The problem is that professional investors (angels and venture capitalists) want a proven business model before they invest, ready to scale, rather than the more risky research and development efforts. Commit to a major customer.

[Interview] Robert Morton, Toronto Business Leader and Former Home Capital Executive On New Product Development

YoungUpstarts

New product development is an essential part of the entrepreneurial landscape. For companies of all sizes, from big corporations to small businesses, new product development is crucial. New products help companies continue to grow, thrive and generate revenue. Toronto executive Robert Morton , principal at RLM Consulting, is experienced in the area of new product development. Why would a company want to introduce a new product?

The Product Development Model « Steve Blank

Steve Blank

This product development diagram had become part of the DNA of Silicon Valley. Were startups failing because of product failures or was there some other failure mode? a customer before you try and build a business. That’s in stark contrast to the traditional Product Development Model where it’s expected a customer is already there and waiting and it’s simply a matter of [.] familiar with Customer Development you should be.

The Principles of Product Development Flow

Startup Lessons Learned

Lessons Learned by Eric Ries Monday, July 13, 2009 The Principles of Product Development Flow If youve ever wondered why agile or lean development techniques work, The Principles of Product Development Flow: Second Generation Lean Product Development by Donald G. Its quite simply the most advanced product development book you can buy. But it goes beyond that, including techniques for improving the economics of product development.

For the sake of productivity, developers need to learn to say “no”

The Next Web

Whoever coined the mantra ‘The customer is always right’ has never tried to undertake development tasks for clients with grandiose ideas, but zero technical background. Nowadays, every company might be a software company, but not everyone knows how to effectively manage software development projects. But give them the option, and they will sure as hell try.

Top 5 Product Development Faux Pas in Startups

Austin Startup

Not Understanding Your Customer. Before starting, you have to know and understand your customers. Which can be done by determining your Value Proposition and Customer Segments. This part of the planning process is not about your idea or product, it’s about solving a problem AND satisfying a customer’s need. Customer Segments answer, “Who are your customers?” and “Why they would buy your product?” Still Not Understanding Your Customer!

Lessons Learned: Product development leverage

Startup Lessons Learned

Lessons Learned by Eric Ries Sunday, April 26, 2009 Product development leverage Leverage has once again become a dirty word in the world of finance, and rightly so. But I want to talk about a different kind of leverage, the kind that you can get in product development. Its a force that allows startups to build products at parity with much larger companies - cheaper and much faster. In the end, I believe they co-created our product with us.

Thoughts on scientific product development

Startup Lessons Learned

Lessons Learned by Eric Ries Monday, September 22, 2008 Thoughts on scientific product development I enjoyed reading a post today from Laserlike (Mike Speiser), on Scientific product development. By embracing a scientific approach to product development, not only will your business have a much higher probability of success, but it will also be a more fun and creative place to work. By starting a new product off with as few features as possible (1?),

Transcript of Bringing Marketing and Product Development Together

Duct Tape Marketing

Transcript of Bringing Marketing and Product Development Together written by John Jantsch read more at Duct Tape Marketing. She is a Silicon Valley based strategic product and marketing executive, happens to be the Chief Product Officer at a project management tool called Obo. And, today we’re going to talk about a book that she’s a co-author on called Beyond Product: How Exceptional Founders Embrace Marketing to Create and Capture Value for Their Business.

How To Survive The Loss Of A Main Customer

YoungUpstarts

In the early stages, it isn’t uncommon for businesses to bank their earnings on a handful of customers (or sometimes, just one). This is especially true for startups, which operate on the basis of customer traction to solidify expectations with investors or lending institutions.

[Review] Customer Sense

YoungUpstarts

While marketers go gaga over social technologies and their impact on digital commerce, it is often our physical perceptions of a product which influence buying decisions. The challenge, however, is this: How can we design our products, advertisements and experiences such that they push the right sensory buttons in our consumers? Enter “ Customer Sense: How the 5 Senses Influence Buying Behavior “ by University of Michigan professor Aradhna Krishna.

How My 5 Question Survey Saved Me Time And Resources In Product Development

Entrepreneurs-Journey.com by Yaro Starak

The Great Money-Making Idea Since I was satisfied with the level of traffic I was getting, and with the amount of value I was able to share with the world, it was time to take it to the next level – releasing a paid product. I had many ideas about different products I could release and eventually narrowed it down to what I thought was the best idea – I could take all of my free YouTube videos and create a DVD package.

Are Your Customers Part of Your Product Development Team?

Small Business Force

That they could accurately predict or (in Jobs' case) dictate customer needs. But while they might not be able to predict needs or requirements, they do have a way to, at least, get a feeling for or anticipate customer needs. From the customer themselves! Most companies develop products that they either "think" their customers or market need or they let their ego believe that they "know" what their customers want because they, themselves, would use their product.

[Review] Custom Nation

YoungUpstarts

If so, you’re probably just becoming cognizant of the incredibly bland sameness inflicted on us by the world of crass commercialism and its one-size-fits-all approach to providing products and services for consumers. But there’s hope – an entire barrage of new businesses are springing up in response to combat that boring mass approach by embracing customization.

Facebook and product development

BeyondVC

All that being said, I am mystified because I wonder what level of customer feedback the company solicited in rolling out its new service. In addition, there are many factors that go into the release of a new product that includes fixing bugs, soliciting customer feedback, responding to competition, and adding new features that will maintain a company’s technological lead in the market. The post Facebook and product development appeared first on BeyondVC.

Features vs. Benefits: What Do B2B Customers Care About Most?

YFS Magazine

Market your product in a way that a B2B customer not only considers it the only logical choice, but also sticks to their decision in the future. Grow Marketing & Sales b2b marketing online marketing product design product development

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Why You Should Be Doing Product Discovery

YoungUpstarts

Like most entrepreneurs, you’ve probably mapped out the business plan, dreamed up the layout and you’re already snapping up domains and emailing developers with your plan. Before rushing to build your concept to push out to consumers, it’s important to first undertake product discovery.

Tailoring Your Products And Services To Your Customers

YoungUpstarts

When it comes to succeeding in small business, you’ll soon grow to realise that you need to prioritize your customers’ wants and needs. We want to work in an area that we’re interested in, creating products and offering services that we’d invest in ourselves. After all, your target customer base is going to have to be much wider than yourself if you’re going to succeed and rake in the profits. Add a personal touch to your product packaging.

The Top Strategies For Doing Customer Interviews That Get You Real Insights

Street Smart Product Manager

We all know a core responsibility of a product manager is to constantly and consistently bring in the customer perspective into the business. That means the ability to effectively interview customers is a critical skill for every product manager. The post The Top Strategies For Doing Customer Interviews That Get You Real Insights appeared first on Street Smart Product Manager.

The Customer Development Manifesto: Reasons for the Revolution.

Steve Blank

After 20 years of working in startups, I decided to take a step back and look at the product development model I had been following and see why it usually failed to provide useful guidance in activities outside the building – sales, marketing and business development. Every startup has some methodology for product development, launch and life-cycle management. Yet at the end of the day even with all these processes 9 out of 10 of new products are failures.

A Startup Guide to Creating an Ideal Customer Profile

ReadWriteStart

Here is a startup guide to creating an ideal customer profile. In almost every case, the data that’s most useful to a startup in its early days is the information needed to build complete customer profiles. What is a Customer Profile? Creating Your Ideal Customer Profile.

Customer Development Manifesto: The Path of Warriors and Winners.

Steve Blank

This post describes a solution – the Customer Development Model. In future posts I’ll describe how Eric Ries and the Lean Startup concept provide the equivalent model for product development activities inside the building and neatly integrates customer and agile development. Most startups lack a process for discovering their markets, locating their first customers, validating their assumptions, and growing their business.

Eight Ways Customer Analytics Can Give Your Company A Competitive Edge

YoungUpstarts

by Jeff Sauro, author of “ Customer Analytics For Dummies “. In a global economy that’s becoming more competitive each year, every customer (and customer’s opinion) counts. Every customer interaction counts. Certainly, every dollar spent on keeping customers happy and coming back counts. That’s why every leader needs a good working knowledge of customer analytics. Develop products customers want.

The Customer Development Manifesto: Reasons for the Revolution.

Steve Blank

This post describes how the traditional product development model distorts startup sales, marketing and business development. In the next few posts that follow, I’ll describe how thinking of a solution to this model’s failures led to the Customer Development Model – that offers a new way to approach startup sales and marketing activities. The meaning of alpha test , beta test, and first customer ship are pretty obvious to most engineers.

The Customer Development Manifesto: The Startup Death Spiral (part.

Steve Blank

This post describes how following the traditional product development can lead to a “startup death spiral.&# In the next posts that follow, I’ll describe how this model’s failures led to the Customer Development Model – offering a new way to approach startup sales and marketing activities. Three to six months after first customer ship, if Sales starts missing its numbers, the board gets concerned. Part 4 of the Customer Development Manifesto to follow.

Customer Development Manifesto: Market Type (part 4) « Steve Blank

Steve Blank

In future posts I’ll describe how Eric Ries and the Lean Startup concept provided the equivalent model for product development activities inside the building and neatly integrates customer and agile development. The product development model treats all startups like they are in an Existing Market – an established market with known customers. Handspring’s customers understood what a Personal Digital Assistant was. It was a new product.

How To Launch A Profitable Custom Software Development Startup

The Startup Magazine

There are several effective steps to launch a profitable custom software development startup. In today’s innovative digital ecosystem, you can establish a powerful software development company, even if you do not have a previous technical background. Market Your Software Product.

Tour de Force: How To Get Much More Out Of Your Customer Tours

YoungUpstarts

by Dan Adams , author of “ New Product Blueprinting: The Handbook for B2B Organic Growth “ As a B2B supplier, you can approach new product development one of two ways. You can ask your customers what they want. The name of the game is to find ways to help your customers that they wouldn’t think to tell you about. You’ll see it with fresh eyes, and as a result, you’ll discover where your company and its products can really add value.

Minimum Viable Persona – Get To Know Your Customers All Over Again

YoungUpstarts

That means in order to maintain a connection, marketers have to get to know their customers all over again. Instead, we need to streamline and accelerate our processes by borrowing techniques from the world of lean and agile product development.

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5 Tips For Developing Your First Tech Product

YoungUpstarts

Even the biggest overnight successes in the industry didn’t just wake up with a successful startup on their hands — they had to develop a product first. No matter the sector you’re in, your first product will likely be the bread and butter of your startup for the foreseeable future.

When I built products the stupid way

Street Smart Product Manager

A 100% call center based customer service model, with an escalating cost per interaction. The post When I built products the stupid way appeared first on Street Smart Product Manager. New Product Development Product Development Product Management agile innovation leanIn 2007, ProductRepair (name changed), a market leader in its industry, was facing some serious threats: A rapidly maturing business.

The Pros Of Developing New Products For Your Business

YoungUpstarts

As a business owner, you need to innovate your products and services to become incessantly appealing to your customers. While it might not be easy to start conceptualizing a new product, there are plenty of benefits to doing so. Offer New Value to New and Existing Customers.

Customer Development in Japan: a History Lesson

Steve Blank

I asked Tsutsumi-san to write a guest post for my blog to describe his experience with Customer Development in Japan. To celebrate the debut of the Japan edition of “The Startup Owner’s Manual” and to express great thanks to Steve and his co-author Bob Dorf, I would like to reflect back what first drew me to this book and offer Steve’s worldwide readers a look at the progress of Customer Development and the Lean LaunchPad class in Japan. But customers didn’t agree.

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The Fallacy Of Move Fast And Break Things

YoungUpstarts

by Dawn Parzych, Developer Advocate for LaunchDarkly. Ever since Mark Zuckerberg uttered the phrase “move fast and break things,” it has become the motto of many development teams. You lose customer confidence and sales. Test code in production without exposing it to all users.

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Three Customer Discovery Tips For Building An Innovative Company

YoungUpstarts

If you are building an innovative company, you will have to spend a good chunk of your time on customer discovery. Here are three tips for you based on my discussions with entrepreneurs who have come before you: Take Time to Understand the Needs and Expectations of Your Customers. Before you do anything else, you need to take time to understand the needs and expectations of your customers on an ongoing basis as you develop your product and business.

Five Rules for Making Products That Sell Themselves

YoungUpstarts

by Dan Adams , president of Advanced Industrial Marketing and author of “ New Product Blueprinting: The Handbook for B2B Organic Growth “ Right now our economy and our nation feel anything but business-friendly. But here’s the rub: It rewards only intelligent, well-researched action that results in positive customer outcomes. Innovation isn’t about flinging products willy-nilly against the wall to see what sticks. In the middle are customer surveys and polls.

What is Your Customer Avatar?

Mike Michalowicz

Well, who is your ideal customer? Above all, how can you serve your customers far better than anyone else out there? You must know who your customer is in order to serve them well. Knowing their profile is the key to relationship building, product development, marketing and sales. It equals success for both you and your customers. Welcome the customer avatar. You can’t do that with your customer avatar. How do you find your customer avatar?

Tesla and Adobe: Why Continuous Deployment May Mean Continuous Customer Disappointment

Steve Blank

For the last 75 years products (both durable goods and software) were built via Waterfall development. This process forced companies to release and launch products by model years, and market new and “improved” versions. In the last few years Agile and “Continuous Deployment” has replaced Waterfall and transformed how companies big and small build products. And these changes may have unintended consequences leading to customer dissatisfaction and confusion.

How Customer Development Failed Us

Steve Blank

Here’s his story of when Customer Development failed. We were lucky to learn about Customer Development early on in the life of our startup. More importantly, we’d witnessed Customer Development’s massive success at another local startup. We bought Steve’s book , started product development and began reaching out to customers ins search of our first earlyvangelists. So how did Customer Development fail us?

Seven Reasons Why Customer Reference Programs Fail

YoungUpstarts

by Bill Lee, author of “ The Hidden Wealth of Customers: Realizing the Untapped Value of Your Most Important Asset “ Harnessing the power of references and referrals seems like an obvious win. What could make more sense than to leverage the enthusiasm of happy customers to convince buyers that they need your products and services? So why do we have so much trouble mastering the art of customer advocacy? Not giving customers a good reason to reference them.