Teams often build products without fully understanding what they’re building, or why. The result is thousands (in some cases millions) of dollars wasted developing the wrong product for the wrong market. This contributes to a high percentage of product failures, but you can avoid it!
In the age of technology and speed, we started to devote everything to speed. We are cutting corners to achieve 0.01% more efficiency and deliver our products 10 minutes earlier. While it’s not all bad, this culture is contributing to a lot of issues in developing new products. Many development teams don’t understand their audience, technology, or how best they can manage their project and estimate the costs. The result is time and money wasted building products that need to be rebuilt, or abandoned altogether. The dreaded MVP re-write!