Most ideas do not see the light of the day and get a nip in the bud for lack of vision, knowledge, and people to do it. With people comes experience and wisdom that gives away for a far sighted vision and multi-faceted knowledge about market, customer, industry, vertical, domain, process, methodology, and much more. Following are the reasons why 99.99% of ideas fail:
- Lacks a vision; both businesses as well as for product.
- Lacks focus and commitment.
- Lacks the right team mix- unavailability of the right people.
- Limited domain and functional knowledge.
Developing a Product is based on scientific approach; right tools, techniques & approaches needed to build Scalable, Usable, and Market Acceptable Products. With rapid changes in Technology Landscape, Market Trends, User Preferences, Business Processes, and Methodologies, it becomes all the more imminent to have the Right Vision, Right Approach, and Right People.
The Biggest Challenge that lies in the life cycle of a product is during the initial phases when the Idea is an Embryo. Quick Validation of the Concept is as basic as Oxygen. It sets the tone in the right direction and eliminates the dangers of non-acceptability and poor adoption.