Product development is an entire process with many stages involved in creating a new product. Product development is a procedure that companies have to undertake if they want to remain relevant. But it is not an easy process. The first stages include coming up with an idea, researching the market need, planning, and prototyping. These stages are broad and rough. Many startup entrepreneurs spend a long time on the initial brainstorming stage because they don’t feel confident that their idea could lead to a great product.
Other managers abandon product development mid-way. Budget constraints, lack of coordination among the team, and lack of clarity can frustrate product development.
Yet, just as we all need to update versions of our phones or software often, your customers expect new products from your enterprise. Read on to discover from successful expert Jason Klug five main reasons why you should never quit your product development process.
Reason #1: Keep Moving Forward – Persevere Through Every Stage
The product development process is rough and broad. This process consists of stages such as concept, ideation, design, test, and release. Understand that these stages do not follow a clear-cut path. Moreover, the time taken in each step varies, especially if the team does not have clear objectives guiding the process. Therefore, don’t let the challenges you face at the initial phase lead you to quit. As you proceed towards the end of the product development process, the process becomes more refined.
Reason #2: Feedback is Key in All Steps of the Process
The product development process does not end once you release the product. Instead, your customers engage with your product, and they either like it or not. Customer feedback at the initial stages of release is essential. This feedback helps you identify aspects of the product that need modification. Do not quit when you realize that the feedback you receive from customers is mostly negative. Be sure to obtain feedback from your customers post-launch. Reach out to your customers via social media or Kickstarter and ask them what they would like to improve. This feedback is everything to the success and evolution of your product. Therefore listen to feedback and act on it.
Reason #3: Be Fearless, Confident, and Creative
Many people never pursue their product ideas because they’re too afraid. They don’t talk about it enough and are too protective of their idea. The risk of being protective is that you will never know if the customers are there. But if you’re talking to a bunch of people and you’re hearing and seeing what they’re saying/doing, then it will be easier for you to identify if there could be a demand for your product idea. Talk to as many people as you can to figure out if your idea is viable. You should be open to sharing without such a heavy feeling or urge to keep your idea safe. Don’t let your fears override your ability to discover your market and obtain feedback about your potential product.
Reason #4: Focus on Quality
Some business leaders quit their product development process because they are too focused on creating a low-priced product. But the race to the bottom is no longer a way to craft a successful business. If you check out Amazon these days, you will notice that too many people let the price points they see on amazon determine what they should price their products
Instead, aim to build on quality instead of quantity. It doesn’t matter if your product will cost a higher price. The fact that it is a quality product compared to what customers find on the market means that it will stand the test of time.
Reason #5: Stick with a Solid Team of Collaborators
Many people go to a bunch of companies to bring their product to life. They will go to the CAD designer, industrial designer, engineer, random factory, etc. But as you move from one expert to another, somewhere down the line, you lose the values and goals you set for yourself.
Which one is better? Having to telephone multiple freelancers to work on different parts of the product separately or having a designer sitting next to an engineer collaborating on a product from beginning to end? in the latter you’re more likely to get the same product instead of a game of telephone where you lose everything along the way. When you partner with a group like us, versus working with freelancers, You save yourself a ton of money and time that could have been spent on re-works. We have had incidences where we have to fix many mistakes done by multiple freelancers working on a product for a client.
Don’t make your product development project a task for freelancers. Since you are working with different companies, collaboration will be an issue. There will be a silo effect as the different freelancers are not collaborating and do not share your product’s vision. Focus on finding a team that can work with you on your project. With a team, the development process will run seamlessly.
Business leaders should realize that they cannot design an incredible product without making sure the brand strategy is in line. Don’t start a project until you have a clear understanding of the brand’s strategy and your purpose/mission/vision for your product.
If you’re going quality with one, you have to go quality with the other. You can’t skip quality in one step and implement it on the next. As such, before you venture into the product development process, you should realize that a brand isn’t a logo. There is so much more to it, and you need the right team to collaborate with you towards creating the best product for your target audience. By following these pivotal steps from Jason Klug, you will be guaranteed to have greater success in the product development journey from start to finish.