Tips for Success in Product Development

It takes a plan and persistence to bring a product to market. 

Here are some tips to make your product development successful.

You’ll need to bring passion to the project to see it all the way through.

Use Minimum Viable Products to test out the idea and gather feedback. 

Success with an MVP will energize the team to move forward.

Don’t try and do it all yourself.  Setup processes and delegate.

Hire the right people with the skills necessary to take it through to the market.

Foster a culture of innovation and curiosity.

Prepare the team to pivot the product, the price, or the positioning, and don’t marry yourself to one concept as it will most likely change.

Funding the new product will take some time as fundraising is a process.

Use mistakes as a learning opportunity.

Enjoy the process of innovation and discovery.

Show the team how thankful you are for their contribution.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.

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Disclaimer:
Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.