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About risk in product development
The further you’re into the product development cycle, the less you can affect its outcome.
Making product ideas a reality takes a lot of resources and effort.
You don’t have control over many of the variables.
Will people like it? Will they be willing to pay for it? Will they recommend it to their friends? Will it stay ahead of the copycats?
It’s a gamble, really.
Risk always goes up
Every dollar you invest in an idea is a dollar you don’t get to spend on something else.
If your idea fails, you won’t get that money back.
The more resources you pour into the project, the greater the risk. This is an idea many companies fail to grasp.
The further you’re into the product development cycle, the less you can affect its outcome
Yet I’ve seen countless projects that try to build a super app before even launching into the market.
Flattening the curve
Do you remember how everyone was talking about flattening the curve when COVID hit?
