From the course: Creating a Business Plan
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Develop your product
From the course: Creating a Business Plan
Develop your product
- Your business plan has to lay out your product development roadmap. That roadmap should spell out what the major phases are in product development as well as the timelines that go along with it. Describe what's in your minimum viable product, the first product that you put in the market. What are the features you're going to release? Then discuss what the next level of prototypes are going to be, as well as when that final product is going to be available and released into the market. The business plan should also describe your approach to testing, research and development, and what that future product roadmap will be. Explain the key risks in your product development lifecycle, and how are you going to mitigate or account for those risks. For example, at one point, I ran an online ticketing business. Our initial minimum viable product had three features. Customers could sign up for the service. We could list the…
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