Turning an idea into a product is a process we perform to focus on the essential needs of your products, the costs involved, and the timetable associated with building it and making it ready to be taken to the market. Here is a brief explanation of the steps we follow while initializing this process.
When we first get together to discuss the value proposition of your product idea, we will attempt to understand and conceptualize the minimal viable product you need to create in order to offer it to your prospective customers. We need to have a clear idea of the reasons for creating the product, the product’s scope, budget and time constraints for launching the product (if any).
The next task is to define who exactly your target audience is. This could include a well known demographic or a group who are commonly interested in a similarly situated set of products based on lifestyle, or people that will like your product because it is something uniquely specific to them and their needs. Even if a product is something that is completely unknown to the market, either way, we use a multi-stepped process to determine the complete scope of all the groups in your target audience.
It is also worth considering your product’s competition before you begin to develop your product – for example, if the market is too saturated or on the other hand too unfamiliar with the kind of product you are offering.
Some of the most important questions you should ask are related to marketing. How you are going to market your offering? Which marketing channels are you going to use? What is the estimated budget needed to take your minimal viable product to market? Often, dealing with these marketing considerations can change your product perspective. It is essential to understand how you are going to market your product before entering the development phase.
Once you have defined your minimal viable product, you will need to determine its functionality. Defining a viable product’s design and functionality is essential to understanding the scope of the whole development project, including its timetable and costs. The functionality of the product we develop also determines the type of technology needed, and therefore the kinds of people who need to be on the team.
The next stage is to determine which people are best suited for the job of developing your idea into a product.
The final step is to determine the best and most cost effective technology to use to develop your idea into a product. It is easier to make this decision once you have considered all of the factors and future developments that you think your product will undergo, beyond its initial minimal viable product, towards a final product.