Startup Funding Espresso – Where to Start Your Product Development

Where to Start Your Product Development

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

It’s important to have a product development process for your startup.

Here’s a list of what startups should do to get started:

Focus on the customer's pain.  Find that which is critically important and not just nice to have. 

Do it better than the competition.  Don’t be just slightly better, be way better.

Use the SCAMPER model to ideate new product concepts as follows:

Substitution -- use a different material, ingredient, or interface.

Combine -- put multiple components together.

Adapt -- make it easier for the user.

Modify -- add one new feature to an existing product.

Put to another use -- take an existing solution and apply to a new application.

Eliminate -- remove unnecessary features or intermediaries.

Reverse -- approach the problem from the other direction.

It’s important to know your customers and then spend time with them to validate the proposed solution.

 

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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