Today, Adam Wells with GSTVC shares with us how the GST team implements best practices in Product Development.
One key to a purpose-built solution is for it to be the result of serving a very specific target customer segment. This is one of the healthy boundaries that we alluded to in last week's microblog.
Even the most successful products have said, "No." to many prospective customers who have wanted to take the solution down a different path, either through too many customizations or by demanding some other totally different feature set.
Another key to a successful, best-in-class tech solution is for it to stay in its lane at the early stage. There is a temptation to "boil the ocean," which comes from founders who spread their sales force too thin by having them branch out to different industries (customer segments) too early.
The result of the above mistakes is that the tech becomes a crowded bus, unable to turn or adjust to conditions properly, instead of it being a Ferrari, highly tuned for one purpose: to look great and go fast!
As always, we love hearing from you as to what you're experiencing as you drive growth for your company; please reach out below.