article

Department of Services Engineering and Management

11 de abril de 2019

GREAT IDEA versus SUCCESSFUL BUSINESS

In the past years, an increasing number of companies had failed and left the market… And it’s not only start-ups or young companies! Some of the big players lost share and reputation among years. It’s common to hear that the causes are related to bad financial management or even due to a crisis, but the truth is: most of companies fail due to a lack of understanding of customers needs.

In software development industry, for instance, a great number of products are developed from an innovative idea, but in the end, there is no market for that… The beginning of any product conception, been related to software development or not, should start for the following questions:

Who are my clients? And what do they need?

Answering these questions may optimize the project progress, reducing wasted time, and resulting in high-speed, and an increased customer satisfaction.

And how do I get there?

Once you have an idea about a product or service, two important steps should be followed in order to reduce the risks:

1. Proceed with an external analysis of the industry to determine the best strategy for the product positioning;
2. Define the value proposition of your product and your target customers.

With that in mind, you can take advantage of market opportunities, avoiding threats present in the industry and also establishing a competitive advantage in front of the competitors.

Starlight Software

By Helena Depiné

Department of Services Engineering and Management

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