Did you know?
The founders of Tinder and Airbnb are famously known for successfully starting non-technical startups.
If they can build such empires then why can’t you?
Don’t know where to start, here’s a list of the top strategies to follow for developing and managing a technical startup or product.
1. Develop the idea –
The first step of developing a digital product is idea generation. Products Owners can Initiate by brainstorming ideas that are respective to their targeted customer and market requirements.
It is essential for product owners to have a clear understanding of the problems in their selected industries to develop the right solution. Another perspective of idea generation is identifying the target audience and gathering feedback for an effective brainstorming session.
2. Stay keen to learn about different technologies –
Being a non-technical owner does not mean that they don’t need to learn the required skills or have basic knowledge about the different technologies that will be used while developing the product.
Instead, they should always stay keen to learn more about the technical world. Furthermore, this knowledge will help them communicate better with developers and other techies involved in your project. It will also assist them in understanding the product for better release and marketing in the tech world.
3. Achieve a proper understanding of business fundamentals –
A product owner should know the basic business fundamentals, such as accounting, finance, economic awareness, leadership, strategies, trends, and everything else that can impact the decision-making, development process, and sale of the product.
Furthermore, the owner should have an understanding of how their product can create a significant impact among consumers, which would lead to an easier process of generating revenue.
If everything goes as planned and discussed, the outcome will be fruitful and profitable.
4. Stay aware of the latest tech trends –
One of the most important things a non-technical product owner must do is to stay aware of what’s going on in the tech industry. Technologies like AI, blockchain, and machine learning continue to advance at a fast pace, making it essential to stay informed and up-to-date.
To stay informed about current trends that can impact their business decisions, product owners can conduct market research to gain insights into customer requirements, follow industry news and updates, and track customer behavior, among other strategies.
5. Build a team –
The efficient management of a digital product necessitates the involvement of numerous teams and departments, with product owners assuming the role of the primary leaders responsible for assigning and delegating tasks among team members.
Furthermore, being a leader, product owners are also responsible to pick the best talent for their respective tasks and responsibilities.
Remember, guiding a team with trust and respect would help them reach the desired goal.
6. Develop a strong communication channel –
Communication is the key to every step forward. If the project owners are good at making their team understand the thought process behind the idea, it will help make a huge difference in decision-making.
Furthermore, communication between different departments and teams should also be clear and interactive. For example, If there is a technical issue, it is the manager’s responsibility to effectively convey the problem and its resolution to other departments.
7. Possess strategic mindset –
According to cascade, only 68% of businesses believe that they have a good business strategy. Developing a full-proof strategy is as difficult as the execution of the strategies but having a strategic mind can be a bonus to the product owner.
Project owners should try to cultivate a strategic mindset by learning, observing, and practicing the essential skills needed to succeed. These skills include understanding market dynamics, identifying innovative solutions, developing a strategic roadmap, and promoting collaboration.
In conclusion, creating a successful digital product requires careful planning, execution, and collaboration with a skilled tech team. Furthermore, by following the aforementioned tips, anyone can turn their idea into a reality, regardless of whether they have a tech background or not.
If you need professional assistance with creating your digital product, Jellyfish Technologies is here to help.
Our experienced developers are committed to bringing your vision to actuality. Contact us today to learn how we can assist you in creating a digital product that meets your needs and exceeds your expectations.