In my 10 years in the software industry. I have create a number of products and have worked on a lot of projects. Looking back at the products/projects that have been successful, one this stands out. There are 3 critical pieces for a software product / startup.
0. A value proposition
This is a dead giveaway. So, I haven’t even counted this. Without a value proposition you don’t have anything. Your product must provide value to your customers.
1. Domain knowledge
You need to have someone on your team with the knowledge of the domain. Ideally you would have come up with a product idea because of a good understanding of the pain points. And of the things that can provide value. This is also fairly easy to understand.
2. Marketing Strength
You also need to have someone who can market your product. An awesome product without marketing is a dead product. You need to either build your marketing expertise or get someone who is good at it.
Marketing is one of the things that is often overlooked. People think that if the product is good people will buy it. This is completely false. You need a lot of hustle to market your product.
3. Technical expertise
You obviously need someone who can build a usable product which provides value. But this is the last on the list.
Many people come to me with ideas for startups. I always tell them about these 3 things. The next time you want to build a startup, think about these skills. Without one of these you are dead in the water.