Software products are being developed at an amazing pace. Year 2013 saw software companies receive $11 billion in VC funding, highest level of investment since 2000, according to the National Venture Capital Association report. However, only a few products make it to the big league; most of them crumple during the journey from ideation to launch stage.
A great idea, firm understanding of business, identification of the problem the product will address, assessment of market potential, product launch plan, stages of funding, everything seems impeccably perfect. So what could go wrong?
- Strive to launch a full featured product at the cost of adversely impacting the time-to-market
Poor judgment of the time taken to launch the product in the market and making prior commitments before the launch are potential red flags that can make your business suffer. The first version of the product need not cover end-to-end functionality. Sometimes, technology too can play a spoil sport in delaying the time to market. It is of paramount importance that the product is launched on time and then the enhancements continue, so that ISVs can focus on revenue via sales; early in the cycle.
