The first publication in BusinessProgram series has been created as a guidebook for entrepreneurs, internet marketers and authors, as well as creative teams looking for insights or know-how to efficient and effective product development. This e-book aims to provide foundational insights to product development process in a straightforward and easy-to-grasp format, providing valuable insights to the entire product development process - from initial ideation to making educated decisions as relates to product specifications, sales formation pipeline, pricing models and communication strategy.
While the content covering the product development process and business functions required to properly position the product on the market can be equally important for creating both physical and digital products, we have structured the learning material around monetization models tailored for digital products.
As most internet marketers and entrepreneurs would probably know, the single most important resource available is time. The economic value associated with things and other tangibles is always equivalent of the time. There is direct correlation between economic value and time. Time is an important resource for entrepreneurs, that one would have to learn to appreciate and consider as resource. When starting a business or thinking of expanding the existing product line, entrepreneurs have to consider time as a resource, in addition to available funds and other resources. During the very first stages of product development process, entrepreneurs and development teams have to find an answer to the following: (i) is there demand for proposed product or service; (ii) which skills and resources are needed to develop the product and (iii) do we have the knowledge, skills and sufficient resources to develop the product.
Knowing the expectations, needs and wants of your customer base will enable you to focus on building the features that matter most to your customers, enabling you to avoid delays that more often than not arise from overloading your product with unnecessary features.