Remove Competition Remove Design Remove Document Remove Outsource Development
article thumbnail

6 Reasons To Build A Working Model Of Your Solution

Startup Professionals Musings

In reality, the process of designing, building, and validating a prototype does dramatically reduce the risk, and allows everyone to hone in on the real costs of going into production. Time is money, and may be your primary competitive advantage. Don’t spend your whole development budget, before finding that you need another iteration.

article thumbnail

6 Ways A Prototype Will Add Value To Your New Venture

Startup Professionals Musings

In reality, the process of designing, building, and validating a prototype does dramatically reduce the risk, and allows everyone to hone in on the real costs of going into production. Time is money, and may be your primary competitive advantage. Don’t spend your whole development budget, before finding that you need another iteration.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

10 Key Business Plan Elements Not In A Product Spec

Startup Professionals Musings

To be clear, I define a product specification as the technical definition of your product, to be used for development and testing purposes, with a quick business summary for context. Call out your top competitors, highlighting your sustainable competitive advantage, including patents, trade secrets. and trademarks.

Product 169
article thumbnail

Don’t Let Investors Conclude Your Startup Is A Hobby

Startup Professionals Musings

Like it or not, you are now entering the dreaded realm of specifying and documenting “formal business processes.” Develop your business plan. Product development process. Even if you are doing the work yourself, you need to document requirements, features, metrics, and milestones. Funding process.

Startup 107
article thumbnail

Want to Know the Difference Between a CTO and a VP Engineering?

Both Sides of the Table

This post is designed mostly for non-technical founders. I know this will fall like a lead balloon to the many people who believe it is possible to have a [insert: startup incubator or technology accelerator or technology consultant or outsource firm] build your technology. They often aren’t great at planning development work.

CTO Hire 400
article thumbnail

6 Ways A Prototype Will Enhance Your Startup Idea

Startup Professionals Musings

In reality, the process of designing, building, and validating a prototype does dramatically reduce the risk, and allows everyone to hone in on the real costs of going into production. Time is money, and may be your primary competitive advantage. Don’t spend your whole development budget, before finding that you need another iteration.

Ideas 107
article thumbnail

8 Key Processes Distinguish a Business From a Hobby

Startup Professionals Musings

Like it or not, you are now entering the dreaded realm of specifying and documenting “formal business processes.” Develop your business plan. Product development process. Even if you are doing the work yourself, you need to document requirements, features, metrics, and milestones. Funding process.