Small companies and start ups often struggle to finalize a product roadmap design. In this post I’ll show you how to plan out plenty of your ideas, making market research and finalizing some of your product roadmaps it.
It is usually down to the founder or CTO of startups to bring together product roadmaps. The starting point is working through all the various ideas you have for new features are product lines. This can incorporate new technologies, elements of your business development strategy, competitors feature lists, etc.
It makes sense to then organize these ideas according to market. This helps define what products can be potentially created for each market space. If you have a marketing expert on and then you should then find out what the potential of each market is based on customer size, penetration rates and return on investment. The level of competition should also have a bearing on whether you consider these markets or not.
At this stage you are now able to start formulating a product roadmap based on a short list of markets and associated ideas. Start by looking at short term goals for one or two products in the one to two year time-frame. Longer-term opportunities should also be detailed especially if your product roadmap is going to be submitted to venture capital firms for funding decisions. This sort of forward planning shows that you’re thinking about future product lines and target markets.
Long-term opportunities may also consist of some of your architectural decisions relating to product variations that can be implemented at future stages. These do however need to be considered in your short-term goals about any product design choices you need to make upfront.
You then have to have your product roadmap reviewed by internal employees and colleagues. Establish if the roadmap contents fit in with your own business development strategy as the company grows.
- Product Roadmap Design | Fundamental Planning Considerations (gotbusinesscards.info)