Most products and services available in the market have suffered a series of failed attempts. There are also those that are perceived as state-of-the-art and should be well received. But somehow, they either did not pass the test of consumer acceptance or could not be scaled up.
So how does one get the product, target market and timing right? Romanian business coach and consultant for global start-up accelerator Startupbootcamp, Adrian Pica says: “Most [products introduced by start-ups] fail because they are not clear on what issue or problem they are trying to resolve.
“Some will wrongly address the problem, and others the solution whereas one should know if there is enough desire for a product.”
“Try not to jump into building products but build prototypes to assumptions. If you can’t explain it simply, you probably don’t understand it well enough.”
What he proposes is that prior to the product development stage, one should develop a simple framework that caters to a focus group.
