Startup Funding Espresso Challenges in Product Development
Challenges in Product Development Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Product development brings many challenges to the startup. Here are some key points to watch out for: Funding takes time to raise so focus your product development on MVPs and draw as many lessons to be learned as you can from each one. Building a product that actually solves the customer\u2019s problem is a key challenge.\xa0 Keep the big picture in mind and continue to use customer feedback to guide development. Hiring people takes time so make sure your recruiting keeps up with your development plans which often require new hires. When things don\u2019t go as planned make sure you have thought about alternative paths.\xa0 What if sales aren\u2019t what was forecasted?\xa0 What if the customer doesn\u2019t adopt the product as expected?\xa0\xa0 Have a plan for each situation.\xa0 Competition can change your company\u2019s position with the customer.\xa0\xa0 Research your competition and keep up with their progress. Planning ahead will help you overcome these challenges when they arise. \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.Let\u2019s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .