In my previous blog on selling to mid-Market companies and bigger we addressed the challenges with your product offering, and how to get your product ready. In Part 2 I’m going to talk about your company, what the blockers are, and how to be ready.
Read More about Challenges of Selling to Mid-Market and Enterprise: Your Company
New products face enormous challenges when they are introduced to mid-market and enterprise level companies. Far too often a product is developed that, at the surface, addresses critical pain points and solves problems that were identified, yet still fails to find traction in the marketplace. This happens even when extensive and proper validation of the solution is conducted, and extremely positive signals are received.
Read More about Challenges of Selling to Mid-Market and Enterprise: Your Product
Often startups and new product teams tackle enormous sized markets that might look attractive and cause founders to have unicorns dancing in their heads. But this approach can torpedo a new product before it ever gets traction.
Read More about Leveraging Beachhead Markets for Product Success
In the dynamic world of digital product development, design plays a crucial role in determining the success or failure of a product. At Parux, we understand that the process of designing a product is not just about creating something visually appealing; it's about building something that serves a purpose and meets the needs of its users.
One of the biggest blockers for new products are switching costs, which represent the burden incurred by customers when switching providers. We can group switching costs into three buckets: Financial, Procedural & Operational, and Relational.
Read More about Switching Cost Barriers and How to Overcome Them
In the dynamic landscape of digital product development, the question of accountability is paramount. Who holds the reins of your product's strategy and vision? In our journey at Parux, we've witnessed firsthand how the absence of clear ownership can lead to a cascade of challenges, from lack of direction to missed opportunities. Join us as we delve into the core of this critical question and uncover insights that could shape the destiny of your digital product.
Read More about Beyond Visionaries: Redefining Product Accountability in the Digital Era
Your tech stack is the frameworks and components you use to build your digital product. These include your front-end, back-end and database as well as many other frameworks, components, plug-ins and services you might need for deploying, managing, testing and analytics.
Read More about Selecting the Right Tech Stack for Every Stage of your Product Journey
In the fast-paced realm of digital product development, success hinges not only on innovative ideas and cutting-edge technology but also on the strength and cohesion of the production team behind the scenes. At Parux.com, we understand that having the right team in place can mean the difference between launching a game-changing product and falling short of expectations.
Read More about Unlocking Success Through People: The Anatomy of a Modern Digital Product Team
A major challenge for product teams is how to find quality development partners that align with the goals of the project as well as the budget. In the quest to control costs, the option of using offshore vendors is often considered. It’s a huge decision point, and one that needs to be carefully considered before jumping on that bandwagon. Make the wrong decision, and you can delay or even kill a product. For startups with a single product, that can spell disaster and potentially sink the company.
Read More about Selecting an Offshore Team for Development – The Risks and Rewards
In the fast-paced world of digital product development, achieving product-market fit is a major difference between success and failure. Many startups and scaleups have inspiring ideas for digital products, but without proper validation and alignment with market needs, they risk launching products that struggle to gain traction.
Read More about From Vision to Validation: How to Navigate the Path to Product Market Fit
Every tech company has to deal with the orderly and inevitable evolution of their product, and it’s not an easy task. Do it right, and your product has increasing value over time. Do it wrong, and you can stunt your growth, or even potentially kill your product entirely.
In the dynamic landscape of digital product development, the traditional concept of a product launch as a one-time event is increasingly being challenged. At Parux, we understand that a successful product launch is not just about introducing a new offering to the market; it's about creating a sustained momentum that drives awareness, engagement, and ultimately, conversions. This is where transforming launches into campaigns becomes pivotal.
Read More about Transforming Launches into Campaigns: Maximizing Your Product's Impact
Product teams and founders are always looking for the answer to this question: How long will it take, and how much will it cost? It’s not an unreasonable question, and of course the budget and your runway must be managed properly. But how to do that the right way is complicated, and we’ll explore those intricacies and common mistakes in this blog post.
Many startups rush customer discovery, bypassing crucial steps in their zeal to find Product / Market fit—a concept by Mark Andreessen that seems simple yet is often misapplied. This post emphasizes the importance of genuine customer discovery and iterative development to avoid the Solution Fixation Trap. By deeply engaging with users and continuously refining the product based on feedback, companies can significantly reduce risks and costs, enhancing their chances of success. This discussion highlights the need for an ongoing commitment to customer engagement to maintain a product's market relevance.
We work with a lot of entrepreneurs and product teams that want to build something, and one of the challenges they face is whether to proceed with their idea and plan. It’s not always easy to know which way to go, but I hope we can shed some light on how to make these decisions better.
Read More about The Go / No-Go Decision: Why it’s One of the Most Important Skills to Learn
Countless visionaries and business minds possess revolutionary concepts, yet navigating the technical intricacies to manifest them can prove daunting. In the absence of proper guidance and resources, actualizing these visions can feel like an insurmountable challenge.
Read More about 🌟 Innovate to Elevate: Building Your Dream SaaS Platform
Step into our digital workshop, where pixels dance with purpose and lines of code weave together to create digital symphonies. As we stand on the cusp of launching our latest custom application for a valued client, the air is charged with anticipation and creativity.
Read More about Countdown to Launch: Behind-the-Scenes of our Next Big Launch 🌊🚀
Dig into why competition isn’t always a bad thing, how to manage it, and how to succeed in the face of a seemingly overwhelming competitive landscape.
Read More about Manifesting Your Startup - Part 2 - Dealing with Competition
A niche market is a segment of a larger market that has unique characteristics such as shared interests, values and needs. A lot of people equate a niche market as a small market, and some of that is true. By definition, it is a segment of a larger market.
Going from idea to pulling the trigger and launching your company consists of a series of Go / No-Go decisions. At every stage, you must give yourself a chance to say no, because if you don’t, then it’s an indication that you have fallen in love with your solution instead of falling in love with the problem.
Read More about Manifesting Your Startup – Part 1 – Homework
Developing great digital products is our passion. Not sure how to start that journey? Let us help you find the right path. Schedule a free 1-hour consultation with our team. At the end we’ll deliver a Project Brief that will help you to crystalize your vision.
Have questions or ready to get started? Our team is here to help.
