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.

By Daria Nepriakhina from Unsplash

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.

Photo by Allef Vinicius on Unsplash

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

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

Photo by Luca Bravo on Unsplash

3. Am I implementing the right technology?

Photo by Nick Hillier on Unsplash

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:

Photo by Stephen Phillips — Hostreviews.co.uk on Unsplash

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.