30/10/2023 Technology
Everyone has heard the stories of SaaS startups that started in basements and grew into multi-billion-dollar businesses. There are thousands of products that, while conceptually sound, lack the planning and execution necessary to reach their full potential. You shouldn't be discouraged by the high failure rate in product development. It would be best to take it as a warning from thousands of other people not to rush into the process. You, as an entrepreneur, are going to face a lot of challenges to launch your product. The biggest challenge is probably figuring out what your customers want and need. It is essential to plan before beginning the development process.
Prototyping and the MVP (minimum viable product) are essential strategies to reduce risk and uncertainty during the product development cycle.
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