Getting Started with a New (Software) Product

A great idea is often regarded as the foundation of a successful product. But this foundation needs to be anchored to the solid bedrock of a sound business strategy.

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1. How do I know if my idea is good?

A product without a problem to solve is a fancy toy no one asked for.

You need to make sure you’re doing something more useful than what is already in the market for people to adopt your product.

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2. What is the best way to monetize this product?

If your product has a good enough value, customers will pay for it.

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3. Am I implementing the right technology?

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4. Is now the right time for this product?

If your entry into a market is too early or (as is often the case) too late, your product will face an uphill battle to gain user adoption.

For late entrants:

For early (or revolutionary) entrants:

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5. What kind of marketing do I need?

Today however, marketing often plays a key role in deciding the features and values of new products at the biggest and/or most innovative companies.