No one can share any success formulas, but we know a number of steps in which the likelihood of success increases significantly.
The success of any business is determined by how well the niche that it is trying to occupy has been determined. The more precise it is determined, the faster and more cost-effective the entrance to the market will be. And the competitive advantage of the product will be stronger as well. The process of market and niche determination is not a trivial one. It is a combination of science and art, experience and intuition. It requires quantitative and qualitative assessments, knowledge of the capabilities of existing technologies and awareness of the development trends in the digital environment. This knowledge provides a better understanding of what kind of problem from the real life of a user we solve and how the particularly designed product can help us in it. To that end, we are doing the following:
- Developing of business
- Design of user surveys
- Defining priorities
- Product Roadmap
- Timeline and Schedule
The result of the work done is a document containing the well-defined business tasks and requirements, and the statements informing how the future product will satisfy these requirements.