1. The Complexity of Product Development:
Building a product, especially from scratch, is a challenging, especially if you are flying solo. Even within our team at Klu, which consists of four of us, we often find ourselves navigating through various obstacles.
2. Foundation is Key:
Before diving into product development, the foundation is crucial:
a) Engaging with potential users to gauge the magnitude of the problem.
b) Determining whether the issue is significant enough for them to pay โฌ10-20 is first step.
Deciding on the number of people needed to validate a problem is its own challenge.
3. MVP and Feedback:
Once you're certain about the problem's magnitude:
Develop an MVP. It might not be polished, but its core function is what's most important.
Re-engage with the people you initially spoke to and present the MVP for feedback. This phase is less about marketing and more about integration and alignment with user workflows.
4. Evolution and Marketing:
As the product evolves:
a) Refine the landing page with feedback and verbatim from initial users.
b) Understand the distinction between B2B and B2C dynamics.
c) Delve into the "marketing stage", where the focus shifts to user acquisition and data gathering.
It's essential to have a clear target audience.
For instance, while a product could cater to a broad range of users, narrowing down to a specific niche.
Don't fall into the trap of thinking, 'My product can be used by anyone.' While that might be true, for your own benefit at this stage, you need to know where to focus. It's essential to narrow it down. Choose a specific group of people and one channel you're very familiar withโwhere you already know how to communicate effectively.
5. The Role of Data:
User acquisition at this stage is not just about numbers but about deriving actionable insights.
At this stage, you are aiming for more users. Why? Because you need DATA. You need metrics. You need at least 2k users engaging with your product to truly grasp what's happening.
In the span of a month or two, as you build this user base, you are diligently developing various aspects of your product. This ranges from the onboarding process to various metrics, depending on your platform.
Talking about retention, it's essential to understand that figuring out retention is impossible without data. And obtaining data is unfeasible without a solid user base
6. Continuous Improvement and Community:
A significant user base facilitates communication and feedback loops, further aiding product refinement.
In summary, no product starts as perfection. It's the continuous effort, feedback, and dedication that shape it.
NOW YOU GO AND MAKE THIS HAPPEN ๐๐๐