Translating business goals into product goals
With global economic health dwindling, the spotlight on Innovation has intensified more than ever. The digital revolution not only allows companies to offer creative and innovative ways of dealing with increasing competition but also equips them with core competency to meet the ever-growing expectations of clients.
However, an essential part of Innovating successfully as a corporate entails ensuring that the business goals are effectively communicated through digitization goals.
How to align business goals with product goals?
According to CB Insights, the absence of an actual market need is what makes 35% of startups fail. Your belief in the idea needs to be backed by existing market demand, otherwise, your product won’t get traction.
This is where an MVP comes in.
The model of the MVP – a Minimum Viable Product – is still the most significant tool in digital innovation and product building to test Product-Market-Fit.
“Sometimes you are so thrilled about a project that you want to build as thorough of an MVP as possible. However, you have to remember - Good strategy is about deciding what to do–and what NOT to do.”
Clare Goldblatt
Product Designer, MVP Factory
Success factors for a successful MVP
This Whitepaper dives deep into the process of building MVPs through different perspectives and lists five critical elements that can make the difference between success and failure.
- Validate before building
- Cross-functional collaboration
- Translate business goals to product goals
- Start with an IT Greenfield
- Deliver value
By the end of the resource, you’ll be equipped with the knowledge of successfully validating a product, along with best practices, tools, and use cases.
If you have any further questions about MVP building, product development, or venture building please feel free to reach out for a chat - let’s talk!
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