This past week in class we talked about iterating products as well are startup term sheets. The current stage in the world is very interesting to see. In the modern era, there has been so much technological development, where something seems to exist to solve or help make any problem easier. To keep up with this ever changing and fast faced world, companies have to iterate and develop their product constantly. All types of companies in the current times are seen releasing a new edition, new addition, new upgrade, or new something every few months or years. This is being done to attract and keep customers satisfied and happy. During this iteration phase, companies are still constantly getting customer feedback to figure out what things need to be changed or added to their product to make it better. In addition, iterating your product also help to distinguish it from competitors.
We read an article with some varying viewpoints from people. Jason Grill, co-founder of Sock 101 says, “If you have designed a product that 95 percent of users like to wear, eat, share and reorder you should stick with it. Test other items, but don’t invest much capital in those iterations. If something isn’t broken don’t fix it. Keep it simple and use most of your funding to do what is working and keep churning and burning.” Grill says something I find very interesting, that is “if something isn’t broken don’t fix it”. I think that this a perfectly good point. I mean waste resources trying to change and improve something that is already doing well with customers? I feel that many times, companies may feel a pressure to change and make themselves better, but maybe sometimes its better to leave successful things alone?
As Welc’home evolves as a startup and we become bigger, we will definitely have to change or continue to develop our app further. We in fact have already discussed this a little bit. Welc’home currently has a very specific target audience of college students, and there are many different colleges and college towns. We are starting the app off based on Case Western Reserve University and Cleveland. Eventually though, we hope to create editions of the app that cater to different universities and college towns around the United States. So the app will be specific to a student attending a certain school in a certain area. In addition, we also want to try to expand our target audience to include people other than college students, so we would have to make plans to iterate our product even further.