Launch a company

Startups usually face several challenges while moving along the path from conception of an idea to launching a company, from getting initial funding to building the right team with budget constraints.

In this process the already daunting task of building a product management function gets lost or becomes all the more difficult.

Understanding what exactly product management function is and incorporating a defined process early on can help save lot of time and money on false starts.

The following article talks about pitfalls involved in creating a Product Management function at a company

Creating Product Management at a Startup

The following article talks about how a prototype based – product experimentation model normally used in the manufacturing industry can tremendously help in launch of new Software Products .

Startup Product Management

Great resources on what it takes to be a good product manager

Good product manager Bad Product Manager

Role of the product manager

Top 12 product management mistakes

As you begin to do some market research and narrow down to specific business ideas, Heres some great questions to ask yourself on business viability of your product /service
(Reference: Software Product Management Essentials , Alyssa S.Dver
And Harvard Business Review on Entrepreneurship)

a) Why is the product unique?
b) What benefits does it bring to the people who use it? What happens if they don’t use it?
c) What other products are available that compete directly or indirectly with the product?
d) Are there other ways for potential customers to achieve the same results if they don’t use the product?
e) What type of people will buy the product? What other products do these people buy? How do they make decisions about buying this product or service?
f) How will the product/service be priced?
g) How much does it cost to produce the product (manufacturing cost), cost to acquire a customer?Cost to support a customer? Retain a customer?
h) Reach all identified customer segments (Marketing).

Product strategy for high-tech companies is a different ball game altogether.

As with most product companies, high-tech product companies need to define a clear vision and strategy. The world of high -tech is constantly changing and only the companies that constantly evaluate their strategy and update it to align with changing market conditions can survive.

Some great resources on high-tech product management:

Product Strategy for High-Technology companies

Also, check out a summary version of this book at : Summary of High-Tech Product Strategy