In this video Argona Partners CEO, Jeremy Imlach, breaks down the road to product as a startup company. This question was submitted by Sutekh, from Nemora Alta.
Hi, everyone. Jeremy here with Argona, here to talk a little bit about product development, product launch, early stage development and startup launch. As we all know, there's a couple of different ways that you can go about developing a company, but there are a couple of key growth milestones that you really need to pay attention to.
First and foremost is concept feasibility. (You) have to make sure that the idea makes sense within the market. If it doesn't make sense within the market, it won't work. Simple as that. Next step is team development. If you know that the idea is viable, you have to develop the resources necessary in order to make the project work, what resources are going to be required in order to develop the product, in order to develop the business, and move it through the next stages.
The next stage is going to be early adopter attraction. So you're going to be looking for the exact ideal clients, right? The target market, the people who are going to be adopting it first and foremost, who want to get in on the early stages of what the product, what the company is. So for the next phase, which is going to be alpha and beta testing, this is where you're testing your product or your company within the market.
This will give you insight into what your early adopters, who are your ideal target market, are going to be looking for. They'll be able to give you feedback on what's necessary in order to compete within the market, and you'll be able to understand a little bit more about some of the ins and outs of the operations, your pricing model, and how you compete within the market.
All of this is going to relate to the features, and how you go through customer retention, which is the final stage. If you have any questions, make sure that you follow us, make sure that you DM. We have an awesome ask us anything series, where if you'd like to know anything specific, you can get ahold of us, but otherwise looking forward to hearing from you next time. .
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