We provide product development services for startups and people who are starting up with an idea/ product plan. They will be visionaries & business people. But many of them may not have a complete idea about the features to be built, where to get started, neither have outside funding/ investors, nor they are techies to build it by themselves. It eventually happens through iterations.
Here are some of the steps that we initiate while working with a bootstrapped entrepreneur/startup.
Discuss the product idea, the core problem which is trying to be solved and the product market fit.
Understanding the big picture and the vision helps us aligned with the clients and their customers, and think from their side well. Even if we think it is a good idea to try out, that should be proved from the end customer. We don't want to work on something which the end customer doesn't need.
Check out the competitors - If you have competitors, the idea is valid.
If you can find similar products in the market, great - you are thinking right. Your idea is valid. But there should be something different from the competitors; whether it be some additional features, easiness to use, better service, geographical differences or less cost for the better product.
Reduce the risk.
They don't usually need the whole product to be built at once. They need features to be built, launched, and tested to reduce risk investing the money on features that customers don't need. There is a BUILD --> MEASURE --> LEARN --> REPEAT approach for products owners who are still not confident enough to invest on a product idea that they want to pursue. We list all the features which are needed for the product, prioritize based on labels (Urgent, Important, Medium, Low) and build minimal versions with only the Urgent features needed for that version.
The fastest & easiest way to get into the market, test the market and make revenue.
When an entrepreneur invests his own money in a product idea, it is important to get to the market fast and start making revenue. It's important to keep the product moving and keep the product owner motivated in his idea.
Impact that the product makes.
We think about the end result as well from a product owner standpoint. That is important and a product roadmap & the impact that it brings to the society should be in mind building a product. Our motivation to do great work is the impact it brings to society.
Sales & marketing strategy that keeps the product going.
For us, we don't just want to be their developers. We want to work like partners helping them build the product, strategy, marketing and sales. We believe that if you develop software understanding the whole idea, you can help with its marketing too. It's this partnership on product development and discussions on the whole product that builds meaningful long term relationships.
We always try to work on a result-oriented approach. The work that we do for them should help them get to the market faster and test it without spending too much on things which are not needed. That's how we work together to build the product as partners.