Product development 2021
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The document discusses various challenges and approaches to product development. The main challenges are lack of resources like human resources, technology, time, place, and financial resources. It suggests building the product yourself initially while keeping your day job or in school. It also recommends finding co-founders or outsourcing development, though outsourcing brings risks of requirement changes. Additional topics covered include where to build the product, focusing on essential minimum viable product features, designing for prototypes versus production, and testing your own product.
Product development 2021
- 1. Product Development from ideas to products
- 2. Main Problem of Product Development Lack of resources ? Human resources ? Technology / Tools ? Time ? Place ? Financial This is true for Start-ups and established companies 2021 Budi Rahardjo - Product Development v.2.0 2
- 3. Build it yourself ? The cheapest! ? You are the only one who know and believe to the idea ? Examples ? Microsoft, Apple, Yahoo!, Google, Facebook, Twitter, WhatsApp, Telegram, ... ? But, takes a longer time to build ? Bootstraping ? Still have day job | school ? Until ready to … jump! 2021 Budi Rahardjo - Product Development v.2.0 3
- 4. Find Co-Founder(s) ? The best approach ? Don’t have money to pay ? Very difficult to find co-founders ? Criteria ? Have the same vision ? Complementary in terms of skills 2021 Budi Rahardjo - Product Development v.2.0 4
- 5. Outsource ? Developers are more expert in the field ? But, difficult to work with since during early stage there are a lot of changes | pivots ? Requirement changes. Outsources do not like this ? Risky? ? Barter? 2021 Budi Rahardjo - Product Development v.2.0 5
- 6. Employee ? Already have enough cash to spin ? Need government support ? half-and-half ? happening in many countries 2021 Budi Rahardjo - Product Development v.2.0 6
- 7. Place: Where to Build? ? Own garage (Indonesia: kos-kosan) ? No need to spend money on fancy offices ? Campuses 2021 Budi Rahardjo - Product Development v.2.0 7
- 8. Features, Features, Features ? Focus on essential feature(s) ? But, which one? Need data / metrics to measure ? “Must have” vs. “nice to have” ? Minimum Viable Product (MVP) ? Examples ? Instagram: share everything vs. share photos ? Palm Pilot PDA 2021 Budi Rahardjo - Product Development v.2.0 8
- 9. Time "70% ready right now is better than 90% ready but 6 months latter” 2021 Budi Rahardjo - Product Development v.2.0 9
- 10. Design for {Prototypevs. Production} ? Prototype ? To prove the concept: can or cannot? ? May be expensive to develop ? May use expensive components / modules / ingredients ? Must do it fast ? Production ? Must consider the cost of the final product ? Materials / components: the cheapest but not affecting quality too much ? How to make them in production efficiently ? can we used unskilled workers, automation, time to produce, material leftovers, … 2021 Budi Rahardjo - Product Development v.2.0 10
- 11. “Eat your own dog food” ? Use your own product to feel how the customers feel ? Palm pilot story 2021 Budi Rahardjo - Product Development v.2.0 11
- 12. Miscellaneous things to ponder ? Project Management ? Good Project Managers are hard to find ? Management of resources ? Products vs. Projects ? Bootstrap: Projects generate money to fund product development ? “Tim project vs. tim product” issues ? Forget to develop products because the money in projects is so good 2021 Budi Rahardjo - Product Development v.2.0 12
- 13. Reading Materials ? Budi Rahardjo’s Start-Up: Product Development https://www.youtube.com/watch?v=Y_rSwQEb0T4 2021 Budi Rahardjo - Product Development v.2.0 13