You had an idea for a tech products. You had saved money to build it, had friends or family fund it, or got an investor. You’ve contacted several development companies and picked the one that had the cheapest rate you could afford. You spent six months developing the product, putting in features to solve all pain-points that you identified. You launch the product and realize that you have no more funds. On top of that your target customer doesn’t care about half of the features in the product. Does any of this sound familiar?
This story is not of fiction, but a true depiction of many businesses’ and entrepreneurs’ stories. We hear about them in about 80% of first interviews with new potential clients. The story is so popular, we think it’s time to write this post about it. We try to answer the question of how this keeps happening, and how to prevent it?
When it comes to new product development, many businesses and entrepreneurs tend to shop around to development firms. Many software development companies offer full-featured development of these ideas right out the gate. They sell the idea that you can fully complete the project at a low-cut rate. “This is awesome,” some would say, but is it truly the right first step?
Whether it’s a lack of experience in product development or a focus on getting a large development contract, this “offer” has created trust issues within the industry that is hard to crack. At the end of product delivery, many are finding they aren’t getting the results they expect. Let’s face it, a development firm is simply a service to develop whatever you want. It’s order-taking in the grand scheme of things, which is a disservice to you in the long run. You don’t need order takers, you need a firm that enhances your ideas. As well as one that uses their experience to guide you through the product development life-cycle.
If you were going into surgery, would you tell the surgeon how you want the surgery to be performed? Probably not. Therefore, why ask a development firm to build your idea the way you believe it should be built. Ask them how they think it should be built when their core competency is in the delivery. Not in the enhancement of client ideas.
Using a software consultancy is the right, first step. They take your tech products and run it through its paces prior to writing a single line of code. Without racking up the development bill. Whether the product is customer facing or for internal business use, it is the software consultant who analyzes the product. Particularly, how the product will affect your business goals, and provide guidance throughout the process. Discussions of future roadmaps, markets, etc., are all part of the conversation about how the firm will build your product. As well as, what technologies you should implement to meet your business requirements for today and tomorrow.
At Grata Software, we’ve seen many new customers show us their ideas. Also, the translations of those ideas into minimal viable products. Or even, final products developed by either their off-shore firms or on-shore, cut-rate development firms. The products are full of glitches, security holes and are cannot scale their customer base without significant investments in hardware.
That’s why we’ve put together our own framework to analyze, advise, architect, implement and manage our clients’ product ideas. No matter if it is a new concept or an existing product that is in need of growth and scalability. We focus on present and future business, building partnerships to ensure a long-lasting relationship throughout the life of the product.
To conclude my point, if you have a tech products that needs development, get a software consultant from the beginning. This will save you time and money in the long run. If you have a product that is currently operational, get a software consulting firm to analyze the product. Therefore, it will deliver the results that were initially intended.
As I mentioned, we’ve seen our fair share of products that were hanging by a proverbial thread. As well as, some that would never reach their intended goal because they didn’t have the right implementations in place. If you have a tech products idea or you’d like us to assess your current tech products, feel free to request a free assessment from Grata Software by emailing or calling 321-236-0011.