Oct 26, 2022
Product Development Best Practices
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
Product development is an important function in a startup.
Here are some best practices to consider:
Maintain focus on the user.
Involve other stakeholders in the process such as sales and marketing.
Metric your product development process to know how you are doing.
Focus on those areas with a strong return on investment.
Prioritize the strategic objective of your product development such as lowering product cost, improving time to market, or increasing product quality.
Practice design reuse to lower the cost.
Involve suppliers and partners in the planning phase.
Obtain commitment for the plan from all stakeholders.
Use rapid prototyping tools and techniques.
Use collaboration tools to keep everyone informed of the progress and issues.
Run a gap analysis to identify areas for improvement.
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