Success – one word every entrepreneur dreams and craves for.
From that eureka moment, every entrepreneur faces many hurdles to achieve SUCCESS. One of the biggest hurdles you as an entrepreneur face in your journey is communicating your idea to onboard different stakeholders like peers, investors and customers. Time and again, it has been proven that the most effective way to communicate your idea across the board is to demonstrate a working prototype aka Minimum Viable Product (MVP) aka Proof of Concept (PoC) . A recent report from Small Business Association shows that about 65% of startups fail due to lack of proper access to technical expertise to create a PoC.
Working as a technology partner with various startups globally, we identify following common pitfalls that startups fall into in their path to creating a successful PoC.
1. Failing to visualize and refine your PoC with respect to your end product.
2. Failing to identify suitable technology partner and/or stack for your PoC.
3. Failing to iterate and incorporate the feedback into our product.
To overcome these failures and deliver your “PoC in 90 days”, SoftVan team created a unique approach using “LEAN AGILE” principles and concepts of “BLUE OCEAN” strategy. A lot of jargon in one sentence? Please allow me to explain…
Why blue ocean strategy?
Entrepreneur believe in their idea and we also, that’s why we initiate SimultaSoftVanneous pursuit of differentiation and low cost to open up a new market space and create new demand for your idea. We capture uncontested market space so that it creates a viability for your idea by reconstructing the industrial place according to your actions and beliefs. We will transform your product into commodities that will lead to the any contrast to the industry.
Why lean agile principles?
Lean Software Development talks about Eliminate Waste, Build Quality In, Create Knowledge, Defer Commitment, Deliver Fast, Respect People and Optimize the Whole. That’s the key to product development and if we use in during PoC, it will help founder to be focused, understand the market expectation, traction and showcase the USP of Product/Concept.
Why 90 days to POC and What is all about this framework?
- According to human psychology, in the initial 90 days, 79% human lost their interest from any of work if they do not get success, they are not able to clear the confusion in the air or not seeing a clear path. And that’s the reason real problem-solving idea is not converted into realities.
- SoftVan’s Concept Proof believes that it is all about testing a concept and drawing conclusions about its market viability. PoC will portray the results that whether your product creates an impact as you expected or not or whether you need to rethink your entire work-methodology for improvement. At first, you might believe that the PoC phase is not needed by every project. But partly it’s true.
We design this structure to enable us to work with the aspiring entrepreneur to transform their idea into reality. Let’s see how we’re going to…
Connecting the dots:
The functional specialist from SoftVan will understand the idea, the vision of the entrepreneur, conduct market studies and link the technology to the idea.
Taking into consideration:
- Startup ideology
- Problem and nurturing and solution
- Product forecasting for the next 5 years
- Immediate requirement
- Market research
Technical approach discussion: When we draft our technical blueprint, we look after the immediate function requirement, completion, innovation in technology, technical budget and product traction for the next 5 years with keeping in mind upcoming phases. By this we land on multiple technical approach which give us better clarity to the product owner to decide the best path
Mentoring and coaching entrepreneurs: Organize ongoing tailor-made technical development support for entrepreneurs.
To eliminate or remove the above-mentioned hurdles permanently, SoftVan proposes the involvement of a well-designed Prototype model to pitch as a piece of work in front of investors. This will give them an ideal-visual of your concept that you wanted them to understand.
Prototype Building will raise the following benefits:
- Users are actively involved in development.
- Because the system’s working model is provided in this methodology, users gain a better understanding of the system being developed.
- It is possible to detect real-time problems and user adoption much earlier.
- Quicker user feedback for better solutions is available.
- Missing functionality can be identified easily.
- Confusing or difficult functions can be identified Requirements validation, Quick implementation of, incomplete, but functional, application.
SoftVan firmly believes that it is not easy for the best individuals to give up and continue to build their startups and dreams.
Are you ready to start you Entrepreneur journey? Allow us to be a part of that…
Credits and special thanks Jay Vora, Jai Parimi, Purvesh Simejiya, Gaurang Hrishi, Parshwa Patel, Dipti Saboo, Rohan Mishra, and all other founders who connected to me, inspired me (Mr. Raghu Raman) and guided me.
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