Aug 31, 2018

Our product tests are coming along quite nicely and we are getting some very good results from our testing and experimentation with our Minimum Viable Product. We are very confident that the market wants our product now that we have tested it in a real market with real customers. The initial test did show some issues in some areas, actually. Some features in the product did not sit well with the initial customers, and while they love the overall product, some of the features we spent a great deal of time working on were not accepted by the initial customers.

Here we are faced with a failure in our product design, some features are not accepted and in fact down-right not wanted and was rejected. Does this mean that our entire product is now doomed? Should we throw in the towel and call in a complete failure? Quite the contrary, we actually want this type a failure in the early stages of the product introduction into the marketplace. 

Why is failures in the early stage of our product introduction such a good thing? Well for one, these failures are not complete product failure, they are merely small failures with features or small parts of our overall offering. Second, it is only through the accurate feedback and rejection of these features that we will be able to know how to perfect the product for the wider market we are trying to introduce the whole product to. 

So, in essence, we never are really failing, we are merely learning what to keep, what not to keep and what to introduce into the whole product. This is exactly how we are going to build a product that is better accepted and an unforgiving mainstream market when we eventually get there. 

Now that we are learning and growing a product, we must start thinking about the business that will hold and nurture this product as it moves through its adaption life-cycle. There must be a business structure and model that is very much appropriate for the product we are about the take into the mainstream market. We will also need the capital backing for such and business and its product. We shall speak further on about business modelng, funding and market adoption strategies in future articles. 

© Orlando O Spencer I, Inc.

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