Category: Discipline

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Entrepreneurship Software Technology

7 Common Mistakes When Developing MVP

7 Common Mistakes When Developing MVP

Whereas some startups become successful, the truth is that nine out of ten initiatives fail. Introducing a new product to the market is quite risky. In order to minimise the risk, an MVP is created but unfortunately, despite the efforts, some startup owners still fail at this stage.

So, what is an MVP?

Most people think that an MVP is the end product, whereas others think it is a beta version of the final product. However, a minimum viable product (MVP) is a product with just enough features to satisfy early adopters and also to get significant feedback to incorporate it into the final product. It makes potential customers realise what your product is all about.

It is an opportunity to test the waters and garner customer feedback before the final product is launched. Having said that, it is important to avoid these seven development pitfalls so that your MVP will be successful.

1. The Need to Create the complete Product

An MVP is not supposed to be the final product, but it will achieve its goal by subtraction. However, many business owners believe otherwise and tend to include everything the final product should offer. In other words, they don’t just stick to the minimum number of features but include most or all features, also they try to make the design top-notch leaving no space for future changes and improvements.

This stems from the desire to impress the audience. That is why developers feel the need to polish up the user experience, but also more features are added to display the app’s multi-functionality.
Such an approach might turn out to be disastrous especially if the audience rejects the concept despite allocating a big budget. Deciding what features are crucial while developing an MVP depends on two factors:

The feature selection process involves going through the MVP’s goals and objectives as well as customer needs in order to determine only the key features relevant to the goals. Also, outlining each proposed feature and pointing out its specific benefits in relation to the predetermined goals and users’ expectations. This enables you to see clearly and avoid adding unnecessary features at the MVP stage.

2. Striving for Minimalism

But there are always two sides to a story. When you focus too much on minimizing the features of an MVP, you may fall into the trap of excluding the very features that are key for customers. In addition, you might end up choosing the minimal features that are neither in line with your customer’s desires nor with your own goals. As a result, the MVP ends up having minimal features that are useless to potential customers.

As a rule of thumb, remember that it should not just be a minimum but also a viable product.

3. Disregarding the Market Research

Unfortunately, this is among the main reasons why start-ups fail. You need to know your market. Apart from knowing the customers’ needs, desires and wants, you should find out if your idea is innovative or similar to other that already exist.

Unfortunately often, after carrying out market research, some business owners choose to ignore the results altogether. The common belief is that they either know it all or their idea is so unique that will pass the market test anyway. Although there is nothing wrong with believing in your idea, disregarding market research might come at a cost.

Imagine building an MVP only to find out later it isn’t in line with the market’s needs or that it already exists, or that it isn’t unique at all and won’t make a difference in the market. Wouldn’t that be a waste of time, money and resources?

4. Evading the Prototype phase

Prototyping is a very important step while developing an MVP. It is a visual representation of your idea or, in other words, it brings your idea to life, and what is more, it makes the app development process easier. In addition, it is essential as it dispels any doubts the investors might have about the product.

This phase consists of three steps:

  1. Begin with interface architecture and build a basic structure of your product as well as general information related to it. Remember to include an interaction foundation for your application.
  2. Build a sketch, build a low-fidelity interactive prototype – a rough wireframe that maps your app’s information architecture and includes interactive elements.
  3. Finish with a high-fidelity interactive prototype which includes the graphics and interactive elements which allow navigation through the application.

5. Choosing the Wrong Team

Hiring an improper, inexperienced or unprofessional team can be an MVP’s downfall. What is needed is a team of designers, developers, QA engineers and PMs in order to build an MVP. However, if this team does not have top-of-the-notch skills and proficiency, then the development stage will fail.
When you work with an unprofessional team, you are likely to come across two issues:

Missed deadlines. An MVP needs to be developed in a fast-paced environment. There is a need for constant testing and upgrading. An unprofessional team is likely to miss deadlines and in the end slow down the process or miss opportunities all together.

Feedback analysis. Since timing and analysis are crucial for any MVP, then its success depends on the entire team’s competence. If your team is incompetent, once you receive the first feedback from your users, they can be unable to work on a better version. The best development teams focus on the product so much that they might provide some very valuable feedback and insight. They act as consultants both on the technology and the product.

6. Inappropriate Development Method

Developing an MVP successfully is like cooking. If you intend to marinade and roast chicken and then you change your mind and decide on boiling it, you will spoil it and fail. This is the reason why some MVP developers give up halfway through the project.
There are generally two approaches to building an MVP: agile and waterfall. Agile software development is more efficient in this scenario when compared to the waterfall (traditional method) due to its ability to deliver high-quality results week after week. In addition, the agile approach done properly helps avoid bugs and offers adaptability to changing circumstances.

Although the payment structures might not matter, it is worth noting that most companies that offer agile software development are paid per-hour rate while those that use waterfall are paid per-bid basis. When developing using waterfall one might finish up with a product done according to the specs instead of the product that’s actually needed. Each change done outside of the agreed scope might be paid extra. This can affect the development stage where one is unable to pay on time hence delaying the MVP or affecting the relationship with the developers.

7. Ignoring analytics and user feedback

One of the main purposes of an MVP is to generate feedback in order to make the final product better. Ignoring feedback renders the whole process useless as it deprives it of its purpose.
Why build an MVP only to ignore feedback later?
Feedback is important as it helps you understand the user better, adjust your product to meet the customers’ needs as well as gauge the audience’s perception of your product. Therefore, ignoring the analytics and user feedback is business suicide.

Conclusion

Developing a successful MVP will increase your chances of the product seeing the light of day in the market. In addition, it might turn your idea into a profitable course. However, not all MVPs are successful. Avoiding these seven mistakes will go a long way toward making your MVP successful at its development stage.

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Blockchain Software

How can blockchain contribute to B2B process improvement?

Blockchain technology shows promise in several key sectors. While it’s far from a cure-all, some key aspects could aid businesses in their process improvement strategies. Cutting waste and inefficiencies from business processes remains a challenge — one that blockchain technology could address. Below are some cost reduction examples blockchain technology could work to improve.

Sectors from real estate to charitable giving have begun to implement blockchain technology to innovate and compete in a fast-changing market. One field which could greatly benefit from blockchain is B2B. Process improvement and cost reduction brought on by the technology could increase profits and boost the industry to new heights.

B2B process improvement strategies

Business-to-business companies often deal with unnecessary complications. The behemoths of the industry such as Alibaba still use antiquated technology to handle their processes. Wide adoption of blockchain technology in the industry could improve processes and reduce costs for enterprises. As global commerce increases, the complexity and number of actors increases.

Businesses can benefit from implementing innovative solutions to increase their competitive advantage. One of many process improvement strategies is to save time and streamline international shipments. Some other cost reduction examples include automation and supply chain improvements.  When a buyer orders a product, the transaction can take weeks to finalize. The usual intermediaries slow the process. Lawyers, red tape, logistics agents, and banks can delay a transaction unnecessarily. 

Many B2B companies still use electronic data interchange technology or EDI (Electronic Data Interchange). According to a 2015 eft survey, B2B business owners and stakeholders believe that EDI is outdated and should be replaced by better technology. Here are a few process improvement strategies blockchain could address.

Eliminate expensive third parties

Smart contracts enable sellers and buyers to scrap expensive third parties and automate business processes. Blockchain smart contracts are transparent features that automatically bind all the parties involved. The smart contract is a set of cryptographic codes which only verified participants can access.

Once the data the participants give correlates with the existing data, it automatically executes. This is one of the biggest cost reduction examples as I’ll mention below. No one can alter the data once it’s on the chain. This makes it immutable, and since blockchain is a distributed ledger, the smart contract has no single point of failure. Even if one node goes down, the system can still operate. 90 percent of B2B stakeholders have realized the benefits of smart contracts and there’s no going back.

Automate data processing

Blockchain processes data in real-time, making it one of the best process improvement strategies for B2B companies. For instance, sellers will be able to access data on their e-commerce portal and see as the numbers add up. This will help sellers make decisions based on the information instead of waiting for weeks before calculating the data before making decisions. Blockchain will reduce the time lag, therefore, sellers will be able to carry out other tasks without delay.

Improve supply chain

Aside from the other process improvement strategies, smart contracts will provide for B2B companies another important benefit of blockchain is supply chain enhancement. Blockchains are a chain of distributed ledgers that process data autonomously. This means that for B2B, sellers can depend on blockchain technology to handle unstructured data. Where traditional supply chain fails in processing data efficiently, blockchain will thrive without error.

Increase transparency among B2B partners

Blockchains can record and store information in a supply chain. All the parties involved can access the data making it easier to exchange documents between business partners.

One of the drags on the global economy is the fact that companies cannot fully trust one another. Blockchain technology sets up a trustless environment improving relationships between enterprises and potentially growing the global economy. Fewer fraudulent transactions or non-payment will increase profit and serve as one more of the powerful cost reduction examples blockchain technology can offer the B2B firms. Blockchain ensures shared visibility like never before. 

Adjust to a changing market

Antiquated EDI technology doesn’t do well with big data supply chains. Due to changing market realities and consumer habits, B2B companies will have to adjust their processes. About half of B2B buyers are millennials and as such B2B companies expecting the manual process of placing fax orders, and handling paper contracts may be asking for too much from millennials. Current consumers want to place orders via B2B e-commerce portals and have their products delivered to them. Blockchain could replace EDI as the logistics technology of choice.

While blockchain seems like the most suitable technology to replace EDI, some remain skeptical. Many pundits predict that blockchain will augment EDI and not replace it. Blockchain can aid B2B companies in their process improvement strategies.

Cost reduction examples

As I mentioned above, blockchain tech can play a role in process improvement strategies for B2B companies. Eliminating intermediaries, supply chain automation, and an improved supply chain are also good cost reduction examples. But how can blockchain technology actually do this?

Reducing fees

One intermediary is the bank. Once there’s no bank involved, sellers will be able to save the percentage that would have gone to the banks involved in payments. According to Accenture, and McLagan, blockchain will save money for B2B partners by reducing or completely eliminating financial institutions fees for B2B transactions. B2B partners can also save the money that would have gone to lawyers. Cutting intermediaries also makes transactions fast, once the seller makes a payment, the buyer receives it immediately.

Automated supply chain

When data processing on supply chains becomes more accurate and immediate, one should expect that it will reduce expenses for B2B sellers. With greater automation, fewer employees are necessary. Human error can also drive up costs Why? Well, because for every human error in data analysis, the business owner has to correct it or pay for it. For instance, if a buyer places an order of 50 million copies of a product and during the logistics and product delivery there’s an error such that they send more than 50 million copies to the buyer, the seller will eventually pay for it.

But think of a scenario where products are labeled on the seller’s supply chain using blockchain technology, and the physical products must correspond to the labeled products on the supply chain then one can assume that it’ll be almost impossible to make an error.

Blockchain integration

The time has come for B2B companies to scale up and adopt blockchain technology. Many big brands such as Amazon, IBM, Alibaba, are pouring money into blockchain development. As of last year, 57 percent of B2B leaders noted that they need to integrate e-commerce with backend technology that will make B2B business processes seamless. While blockchain technology still appears too complex for B2B sellers, some blockchain experts have developed blockchain-as-a-Service for business owners, so that B2B executives can easily integrate blockchain API into their business.

Why wait when you can develop your B2B company on blockchain? As a startup, developing your B2B brand on blockchain from the beginning may factor into your process improvement strategy. Although there are not many B2B brands that are already using blockchain technology, it will be much worse to be miss out on a competitive advantage as more B2B companies.

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Software Technology

5 Key Steps in Moving your Web App to Mobile Platform

5 Key Steps in Moving your Web App to Mobile Platform

Websites have become a staple for businesses which seek out possibilities to engage with potential customers via an online presence. As millions of sites go online each day, there has been a significant development of the web market. What’s more, this has caused a change in the way marketing has been developing; goods and services are now at customer’s convenience who does not even have to leave the comfort of their home in order to make a purchase.

However, the 2010s have brought about a new wave of online interaction which came in the form of mobile devices. First, the smartphone was introduced as a way of increasing the utility of cellular devices. Second, the tablet influenced the way in which users access content. These devices were innovations that allowed PC-like processing speed and RAM in a much smaller, mobile device.
Needless to say, their popularity has been increasing exponentially, leading to the current situation where a mobile app has become as important as a website. Thus, for anyone looking for ways to transform a website into a mobile-friendly App, here are a few tips and guidelines to follow that will ensure a more efficient process and an impressive result.

1. Progressive Web Apps

In the past, apps and websites have been two fairly distinct domains. Of course, they often serve a similar purpose, but the development and creation were done separately.

Recently, however, web apps have come into play and a kind of merger between the two different formats, allowing owners to benefit from the best of both websites and mobile app features, has been observed. This should be the first step in any online business presence, as it also facilitates construction of a mobile version at a later stage.

As technology progresses and users are constantly on the lookout for more convenient online interfaces, implementing Progressive Web Apps (PWA) is a definite way to stand out from the competition. The main benefits include a faster browsing experience, more efficient site navigation and a user-friendly interface that fares better than traditional websites.

As an added bonus, Progressive Web Apps feature on a user’s home screen, meaning that they do not have to enter a search engine or internet browser to access a site. Moreover, the Progressive Web App also has functional offline capabilities, either through an offline mode or the capturing of cache data.

Overall, many are proud advocates of implementing PWA, as they seem to provide the means for the ultimate marriage between convenience and high-functioning sites. Apps generally suffer from a lack of content, but progressive Web Apps may just be the bridge that connects the two effectively.

2. Remove Any Unnecessary Elements

5 Key Steps in Moving your Web App to Mobile Platform - Remove Any Unnecessary Elements

The mobile device has a much smaller screen. For any website user there is nothing more annoying than having to sift through tons of unnecessary content that barely fits within the boundaries of the screen. If the same format is put into a mobile App, the results are disastrous.

Thus, ensure that all of the unneeded content is filtered out. Perhaps consider redesigning the App so that additional sections are created for such content. Whether it is marketing material, large advertisement banners or the promotion of a new product, try not to bombard users with too much information in too dense a space.
Instead, think about simplifying browsing experience. An exemplary app is easy to use, intuitive and slick in design. Overall, such an approach will increase performance across all devices, especially phones and tablets that are not exactly the latest releases.

3. Make the Font Bigger

Sometimes, it is the simple things that accumulate into one huge competitive advantage. Although often overlooked, creating a bigger font is crucial for a successful transition between a website and an app.

Websites are traditionally visited through personal computers and laptops. This creates a bigger screen in which more information is presented. To allocate space for such information, the website font is usually quite small, as the bigger screen allows for users to scroll through seamlessly.

When it comes to apps, much of that information is discarded, as explained in the previous section. The app resembles something more akin to a skeleton of the website, an easy to use format that encourages user-friendliness and familiarity. Thus, to ensure that the space is properly utilized, the font should be larger and easy to read within the confines of a small mobile phone or tablet.
The alternative leaves users with the impression of an ill-thought-out application that does not really utilize the space it has. Nothing is worse for a brand than a half-baked offering.

4. Test the Page on Applied 3G

5 Key Steps in Moving your Web App to Mobile Platform - Test the Page on Applied 3G

There is nothing more frustrating than an internet-based application that does not run at an appropriate speed. Moreover, as the app will now predominantly run over 3G networks, it is essential that the experience is similar to that of Wi-Fi.
Research shows that more people are using their cellular data as a method of connecting to the internet. As such, the App should be able to run compatibility over cellular data services – whether 3G or 4G network connections.

A simple test before launch should help find out whether the development has been successful and where the necessary holes in the operation lie. It may seem like a ‘no-brainer’, but this simple test can save a fortune in negative publicity and bad ratings. It’s better to be safe than sorry.

5. Use media-queries

If you don’t know much about media-queries – use the Bootstrap grid with “col-sm” classes. By attaching Bootstrap or any other CSS framework you can use its responsive out-of-the-box breakpoints without knowing what the media queries are. By using class “col-sm” you automatically set the breakpoint to 768px, which means your app will look much better on small devices such as tablets and smartphones. The change will kick in automatically and so it will autoscale to the device you are currently using.

Summing up

The mobile Application market is on the increase and certain empires have been built just on the back of a successful app that operates efficiently. Moreover, as the smartphone market develops, a well-thought-through mobile application may become the new face of a commercial online experience. Progressive Web Apps, in particular, are greeted with great excitement by organizations and developers as they provide a new way for companies to position themselves within everyday operation of a personal computer. Not only are they a means of increased browsing enjoyment and efficiency, but they now have a desktop presence, which means taking user interaction to a whole new level. The possibilities are endless and there may yet be more innovations that follow.

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Entrepreneurship Software

Top 9 Non-technical Tech Startup CEOs

Top 9 Non-technical Tech Startups CEOs

What does it take to create a successful App? Technical skills? Well, not really. In fact, many successful founders and startup CEOs have proven otherwise. The founders and CEOs featured in this article have no technical skills and have gone out of their way to create successful and prize-winning Apps.

Creating apps without any technical knowledge is like cooking without knowing much about ingredients, it’s helpful but not necessary. Interestingly in this case, these top nine founders and CEOs with non-technical skills have turned the market to their advantage.

With modern technology, all you need is an idea – a great idea.

Arum Kang, Dawoon Kang and Soo Kang

Founders of Coffee Meets Bagel

Coffee meats bagel. Top 9 Non-technical Founders of Great Tech-companies


Famously known as the 3 Kang sisters, Arum, Dawoon and Soo are originally from South Korea. Both Arum and Dawoon aspired to study in the top-ranked MBA schools in the USA, Harvard and Stanford. Dawoon first made it to Stanford and Arum soon started studying at Harvard Business School.

After graduating from business school, the 3 Kang sisters noticed the monotony in the dating apps arena and decided to break it. They thought of an app that limits the number of profiles users can interact with each day and offers unique icebreaker information for the matches.

And so, Coffee Meets Bagel was born. In April 2012, it was launched in New York City, May in Boston and October in San Francisco. Six years down the line the company has a whopping net worth of about $150 million (Estimated Value).

Walker Williams

Founder and CEO of Teespring

Teespring. Top 9 Non-technical Founders of Great Tech-companies

At an early stage in his life, Walker had a number of paths that he desired to pursue, including a cartoonist and a writer. However, at the age of 16, he settled and set a course on becoming an entrepreneur. Walker later joined the Brown University and obtained Bachelor’s degree in Arts and History, 2007-2011.

In 2011, he joined forces with Evan and together, they created a platform for custom merchandise, Teespring. Teespring enables users to create unique custom designs, set prices for their item(s) and set a sales goal.

By 2016, Teespring was valued at over 30 million and its CEO Walker was listed in the 40 Under 40 2016 for the social commerce company.

AJ Forsythe

CEO of iCracked Inc.

iCracked. Top 9 Non-technical Founders of Great Tech-companies


AJ Forsythe has an exemplary track record in the field of business and entrepreneurship. His business endeavors have ranged from running a winery, beekeeping and founding iCracked Inc.

AJ graduated from California Polytechnic State University with a Bachelor of Science in Psychology/Biology in 2011. AJ founded iCracked in his dorm room in 2010. iCracked has grown since then to be the world’s largest and most efficient on demand repair service for smartphones and tablets with over 4000 Certified iTechs and in 11 countries.

AJ made it to be one of Forbes 30 under 30. At the moment, iCracked has expanded to the UK and Europe with offices in London and Berlin.

Stephanie Tilenius

Founder and CEO of Vida Health Inc.

 

Vida Helath Enterpises Inc. Top 9 Non-technical Founders of Great Tech-companies

Stephanie studied at Harvard University then joined Brandeis University to do a BA in Economics and finally an MA in International Finance. She worked at Paypal and EBay for 9 years before joining Google and helping build and launch several products.

Stephanie later founded Vida Health in 2012. Vida provides expert, personalized and on-demand health coaching together with programs from a network of experienced health care providers and leading medical institutions.

Approximately 133 million people in the U.S. alone live with chronic conditions and 70% of the $3T healthcare spend in the U.S ends up in preventable chronic conditions that Vida is now focusing on.

Sean Rad

Founder and Chairman of Tinder

Charmain of Tinder. Top 9 Non-technical Founders of Great Tech-companies

Sean Rad was brought up in the Persian community of Beverly Hills by his parents who are Iranian immigrants. Rad attended the University of Southern California in 2004. Two years later, he dropped out to pursue entrepreneurial endeavors.

Rad launched Tinder alongside other co-founders in 2012. Tinder is a dating app and it was an overnight success. Two months down the line after its launch, Tinder reached over a million matches.
On August 6, 2018, the Match Group announced Tinder had over 3.7 million paid subscribers, which is up by 81 percent over the same quarter in 2017. The company is now valued at around $3 billion and is one of the highest-grossing apps in App Store.

Jamie Wong

Founder and CEO of Vayable

Vayable. Top 9 Non-technical Founders of Great Tech-companies


Jamie’s background is in disruptive media, advocacy and communication. She attended the Universitat de Barcelona to study Art, History, Politics and later did her BA in History at Wesleyan University and finally went to Columbia University’s Graduate School of Journalism.

Jamie Wong co-founded Vayable in 2010. Her vision for a more open world that enables collaborative experiences and exchanges through travel is the driving force behind Vayable. While using the platform, you can discover, buy and sell unique travel experiences.
Vayable is currently in over 240 cities and has featured in the New York Times, CNN and The Wall Street Journal.

Tracy Young

Founder and CEO of PlanGrid

Plan Grid. Top 9 Non-technical Founders of Great Tech-companies

Tracy attended California state University and majored in Civil Engineering. In 2008, she graduated and became a Construction Project Engineer.

She helped build two hospitals. In the process, she realized that many things went wrong not because they were poor builders but because there was no technology that could enabled them to do better. This inspired the creation of PlanGrid in 2012.

PlanGrid is a field collaboration software for construction. It has grown to be the lead construction productivity software completing over 1 million projects around the world.

Evan Sharp

Co-founder and Chief Creative Officer Pinterest

pinterest. Top 9 Non-technical Founders of Great Tech-companies


Sharp studied Architecture at Columbia Graduate School of Architecture, Planning and Preservation. Prior to that, he received a Bachelor’s degree in History from the University of Chicago. Evan  found inspiration from pinning interesting maps, science facts, architecture, vacation plans, and fonts for his design projects.

Sharp met Ben Silbermann, Pinterest CEO and fellow co-founder, through a mutual friend while in Columbia University’s architecture program. Pinterest was launched in 2010. An online platform for saving, searching, bookmarking creative ideas uploaded by the people from around the world.

As of 17th October 2018, Pinterest has over 250 million monthly active users with a total number of over 175 billion Pinterest Pins.

Conclusion

In the century when technology evolves every day being a tech-savvy is not crucial to make the next big app in the market. The nine founders and C.E.Os are a case in point that tech-skills are not necessary in order to thrive in tech-world!

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