It is not uncommon to see two very similar startups that are based on the same idea or similar vision, being funded together by different investors. The difference between these two, eventually, is that one of these will succeed and the other will not. So what makes the gap you may ask. The gap is made by the success of properly bringing that idea to life. And the only way to winning this race, is to execute flawlessly and with speed. Just because you came up with an idea first, doesn’t entitle you its guaranteed success. Anyone else can work on your idea and make it into something much better and win the minds and hearts of its users. Allow us to teach you how exactly to earn this success.
1. Keep it Simple.
Firstly, and before anything else, keep it simple. We know it looks very cool and interesting to boast about having the latest and most stylish technology. However, often, simplicity is the key to success. Any product, that is new to the market, needs to adapt for the basics first, and then move on to something complex. While you may be adapting some methods that ‘may’ look cool on the outside, you may be causing more harm than good to your product. And this is why a competitor who’s running old-school techniques, will win and you won’t.
Now, once you’re done adapting the basics, it doesn’t mean that you always stick to it like the Holy Grail. No. In fact, much of your success depends on how your methods and techniques mature with the maturity of your product. Look at it this way: a 1980’s Ford Mustang could never have used the technology available in 1995 back in 1980. However, a 1995 Mustang must also not keep on running on the 1980’s technology. As the Ford Mustang matures in 15 years, the technology must mature too.
2. Stick to Common Methods.
Wouldn’t it be amazing to showcase a mobile phone that flies you to the moon, drives your car while you sleep, and pick your groceries from the store? But, is it really viable to have a phone like that? It may look very cool, but can you handle it? Of course not. That’s why it’s always important to stick to what is common and can be understood by everyone. This way, you can save time, cost and make a good market presence for the huge number of people who don’t feel like flying to the moon.
The down-side of having something so unique and different is that some people won’t understand it, others won’t afford it, and the remaining will follow the rest. Also, imagine facing a problem in something so complex? You wanted to be different, now you don’t have enough people who can help you build solutions to the problem and that too anytime soon.
3. Select a winning team.
While it is important to launch a product that is made by the top software developers and designers, it is also important to launch it through someone who understands the market requirements and needs. Having people who understand the market gap and what they need to provide to it, is important. A good team will always consist of developers, product marketers, operation engineers and UX/UI designers. All these positions are as important as the people behind the development. These individuals must be good performers of their tasks and should have good collaboration with each other at all times!
A common mistake that most companies and owners do, is hire inadequate product marketers compared to the developers or vice versa. This hinders the product quality and its launch potential greatly.
4. Team Synchronisation
You can hire the top professionals in the industry and provide them the greatest resources that are available in the market. But if your team doesn’t work in-sync, it is of no use. After hiring a competent team, it is important to give them the proper organisation and tools that are required for proper and timely collaboration. From the CEO, to the marketers and engineers and the developers, everyone must be in continuous collaboration and sync for everything to work properly.
5. The end result is all that matters
It may seem at times for the marketing team that the developers haven’t shown a lot of progress. This isn’t always true. Following the correct processes and methodologies is important for a product, that’s why it’s always suitable to wait until the end of a methodology period. When building products with scalable architecture, although the outcomes eventually is very robust and built to last, the journey can be frustrating for the marketers and the product owners. In such cases its common to see non-technical teams who want things built with a click of their fingers to get frustrated with a slower than expected development speed. The concepts behind each try of product development methodologies get ignored in the race to achieve and show results to the impatient CEO or product sponsors.
It is very important for everyone in the team to understand the chosen product development methodology and set expectations from the start and clearly communicate the project schedule and have all-hands review meetings at every milestone.
Years of following Silicon Valley based product development companies have taught us that developing a product to win against its competitors should be done keeping the above in mind. Rushing into any decisions, building products without adequate planning or working without sync with the team can be hazardous to the teams and eventually the product. The right kind of methods and techniques should be combined with the right kind of technology. While this may seem a hard or impossible task to do, it is also important and crucial for success against a competitor.
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