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Investors Know A Product Doesn’t Make a Business

Startup Professionals Musings

It’s definitely positive to have a product plan. For software, websites, and high-tech products, this is the “meat” of what you intend to build. Enough detail is required so that someone else can build it without you (outsourcing). Don’t get me wrong. Here are the key components of a good product plan: Detailed features.

Product 92
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Entrepreneurs Confuse Product and Business Plans

Startup Professionals Musings

It’s definitely positive to have a product plan. For software, websites, and high-tech products, this is the “meat” of what you intend to build. Enough detail is required so that someone else can build it without you (outsourcing). Don’t get me wrong. Here are the key components of a good product plan: Detailed features.

Product 93
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Taking Other People’s Money Changes Your Life

Startup Professionals Musings

But there are some things that DEFINITELY come with other people’s money. Moral: Before you decide that it’s absolutely necessary to take outside investment, explore all the possible ways you can partner, outsource, affiliate, collaborate, or…heaven forbid, get customers. All problems will go away. They’re new and different problems.

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Don’t Assume Product Plans are Better Business Plans

Startup Professionals Musings

It’s definitely positive to have a product plan. For software, websites, and high-tech products, this is the “meat” of what you intend to build. Enough detail is required so that someone else can build it without you (outsourcing). Don’t get me wrong. Here are the key components of a good product plan: Detailed features.

Product 48