For most business owners or professionals in their field (for example, doctors), the idea of creating a unique product is not new. Whether it’s creating a completely new product or upgrading what already exists on the market. Both the first and second paths require an understanding of the main stages of implementing an idea.
Before you start implementing the idea, you should remember the so-called MVP (minimum viable product). This term refers to the creation of a minimum version of the product, which will be based on conceptual differences or modernization elements laid down by the creator.
It should be noted right away that making an MVP with the right business model and competitive advantages is not so fast and may not be cheap. The speed and cost depend on many factors, ranging from the choice of programming language to the possibility of using elements of artificial intelligence or computer vision, which will directly affect the uniqueness of the product.
So, when creating an MVP, you need to answer the following questions:
1. How to spend a minimum of resources?
2. How to communicate with users?
3. How to make the first sales of the product?
4. How to promote the product?
The second stage is the creation of a product document, which will contain:
- product analysis, that is, the answer to the question, what is the main problem your product solves;
- search for the target audience and drawing a portrait of your client
- analysis of the main competitors
- ; SWOT analysis, that is, analysis of strengths and weaknesses, opportunities and shortcomings of your MVP
- project roadmap and development steps
The third stage, one of the most difficult, is the selection of performers or a team.
The success of the product will depend on the professionalism and motivation of all team members. Not for nothing that many great entrepreneurs, such as Elon Musk, Steve Jobs, tried to surround themselves with even better specialists than themselves. After all, your task, as an entrepreneur, is to organize the correct chain of tasks to achieve the goal.
For example, when we, the company I Bionic Group, implemented our first big projects, we tried to attract the most competent and, accordingly, expensive specialists on the market. And only over time, from many specialists, we were able to create true professionals in their field with experience in dozens of projects that went beyond the territory of our country and were implemented around the world.
If you have ideas of an engineering format (for example, the creation of a bioprosthesis or a calorie sensor) or IT solutions using artificial intelligence, ideas for developing a mobile application, you can safely contact I Bionic Group. We will be happy to help you realize your idea or we can even participate, as we ourselves love to create startups. By the way, one of our latest projects is a smart posture corrector (https://www.atlant-spine.com/).