product management

Can We Learn Something About Product Development?

products with trust

I like the concept of the minimum viable products that enable entrepreneurs to bring the product on the market and continuously improve and develop according to the customer’s desires. As you can see we talk about products developed for customers, not the entrepreneurial desires or the initial business idea.

Each business idea is the dream of an entrepreneur. Ideas are based on hypotheses that are not yet tested or proved that will work. In the past one of the basic tools for entrepreneurs to try testing the hypothesis was making a business plan where they put the results of market research and based on them, they make an assessment about the demand. But, today it is a time-consuming job that again will not give us 100% accuracy that everything that we put in the business plan will be the same in the implementation process.


On the other side, we need data about the acceptability and feature needs as soon as possible if we want to have the products that will satisfy the market. Can we start building something from nothing and put on the marketplace with the minimum required features to find approved information for our future directions in the development cycle?

What are You Selling to Your Customers?

What are You Selling to Your Customers

What are you selling to your customers? Your answer, as the answers of many entrepreneurs, will be your products and services.

Some of you will answer that you are selling the solution to the problems for the target market. It’s the correct answer.

Some of you will answer that you are selling satisfied needs for your customers. That’s also the correct answer.

However, what I see as a possibly dangerous situation for entrepreneurs is that all of these answers have a very tiny view of the real situation in the target market.

10 Information Sources For Initial Market Analysis

A successful entrepreneur will always be able to choose the right products and/or services his company will offer to the customers on the market on which also exists competition. Probably someone before you have started a similar company and offered some type of products or services for the same persons on the market that you are targeting. So, before anything else, you will need to do an initial market analysis.

If there is still no competition, it is obvious that you cannot expect that it will be the same situation for a long time. The right products and services that you will need to choose to sell to your customers will become available to you only after you make the initial market analysis.