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Those firms who are planning to create a digital product, through information technology, for automating and streamlining any firm’s business operations; then they are surely aware that product development is a journey not an objective.
Product development is a journey indeed. Regardless of how experienced the enterprise any firm has selected for evolving their product, they won’t be able to deliver a full-fledged and effective product in a short time span. One year is also simply not enough for this task.
Instant transformation of app ideas into finished products is unreal and not possible. Not only does it require a lot of work and research, but also requires the following processes to be done diligently, among many present:
- Analyzing competitors’ products.
- Keeping view of recent trends in the industry (including those that are long lasting).
- Demands of the target audience.
- Checking business requirements.
- Streamlining internal processes.
- Checking external resources.
No company should forget to count the efforts, financial resources and time they are going to invest in the process and journey of product development.
After studying all of these things in detail, companies should define their strategy and at least make a roadmap of the product flow. Experts suggest segregating the development process into different phases so companies can get the benefits of steady and adequate product growth.
Product evolution is a constantly evolving process. It must match the frequent changing standards of both customer expectations and competition. Firms and their teams should invest their time in understanding the core values a product should deliver to its customers.
Problem solving in real time
The core purpose behind a product’s development is improving the daily life of users through addressing the fundamental issues they are facing. Product managers must understand the possibilities of what they see as a problem may not be a problem at all, either immediately or after some time.
That particular problem (or set of problems) might get replaced by new ones. The product should be compatible to address the newer problems. Hence, continuous enhancement of a product is as important as its development. This helps companies stay competitive in the market.
Dividing a large project into a series of smaller projects
While creating a large product, it is tough for most companies to identify the risks along with the areas of improvement. Through division of a large project into a small one (or a series of small ones) based on its modules, functions or features; it will be easy for companies to remain focused on developing a particular part of the product.
To properly channel the efforts, companies must clearly define a set of goals, activities along with other deliverables before the initiation of the project.
Making the right kind of product, instead of making the product right
Companies ought to focus on creating the right kind of product (validation) instead of making the product right (verification, repairs). Quite often, organizations are willing to launch a perfect product through elimination of minor frictions in various features and functionality to facilitate users with a worthwhile and exceptional user experience.
Instead of consuming time in verifying their own product regardless of whether it is running properly or not, it would be wise for firms to try determining whether or not it is appropriate as per the recent market requirements.
During the amplification phase of a product, any firm or its app development team can improve its performance. But after launching a full-fledged product (say an app), if they realize if it’s not up to the needed standards then all the development efforts are hence wasted.
Re-using the product is better instead of re-inventing it
Companies should not strive to do something quite innovative in the first trial. They should use the latest tools and technologies again to improve the product’s speed to market. This also helps them in creating a more reliable product with reduced costs of development.
A minimal amount of features help communicate value propositions clearly
There isn’t anything wrong with offering a complete product containing all the needed features and functions. Also, through the introduction of a lot of features, most app development companies ruin the value proposition of their product.
Team leads from an app development company Toronto explain that companies must instead focus on delivering essential functions in the initial version of their product. They must add all the key features in the product customers are expecting. Those features must not be present in products made by competitors.
Eventually, companies can add the needed elements and improve the existing aspects based on feedback from users.