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Stop coding, start developing your product

by Matthew Adams

Technologists often get hung up on technology and forget about the customer (and the business!) We talk about a real-world example and some practical advice for getting your idea business-focused.

We’ve put our MVP out into the market, and we can start refining the information we have about our product, its fit to the market, and the real drivers and buying behaviours of our clients. How do we iteratively improve the offering, and deliver more value?

In this article, we look at how we’re going to tidy up our assumptions list, conduct some more low-cost experiments to satisfy ourselves we know exactly what we’re getting into, then take the leap and build something that satisfies some core part of the value proposition, and persuade some customers to buy it.

Business model design is all about sharing the value from the product. How do we ensure all the stakeholders get what they need out of it?

Although you do not want to lose focus on the beachhead market, it is always good to consider the TAM for follow-on markets. If we do this thing, where might we take it next?

Ultimately (however long you can put it off for by taking investment), you don’t have a business if people aren’t paying you more money than it costs to develop, acquire the customer, deliver it to them, and support them for their whole lifetime with the product. We look at how you can get to paying customers.

What does “competitive positioning” actually mean? Are your competitors all solving the same problems as you, or are they the people competing for the same kind of attention, or pool of resources? We take a look at the challenges of “competition”.