Product Development

Before you have a product to sell, your ability to bring in income and revenue will be severely limited.

Developing a viable product as soon as possible is the number one priority for any business.

Although a product will take some time to develop, it is important to shorten the development time. 

You can choose to run other business activities simultaneously, such as preparing the marketing activities, setting up the customer service and technical support sections.

Most entrepreneurs fail to realize about product development is that it does not have to be perfect. Some spend inordinate amounts of time working at this.

Technology entrepreneurs are especially prone to aiming to create the product with every single feature the user may want, 100% reliability and the ability to scale to an unlimited number of users.

Sadly, this goal, while noble, may be impossible to achieve.

It's important to have a realistic aims and objectives when it comes to product development.

An 'ideal' product need only to serve one purpose: answer your client's most burning need.

This burning need will be focused in one of the two areas (yes, there are only TWO areas):

• increasing pleasure
• avoiding pain

Fundamental to this is Abraham Maslow's hierarchy of needs.

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