When a project is made, it should be with the intention of being sold. It can be tangible or intangible. It is the consequence of a process with the purpose of creating a good or service that satisfies a customer’s needs.This can take many forms. Some examples include:
- A tangible good, commonly known as a widget. Delivery and logistics for objects need to be expensively planned in order to reduce your risk of failing on your value prop and having costs get out of control.
- This is a highly-personalized experience that will depend on your ability to match demand with content and human factors. Both the message and the messenger are important and should be thoughtfully planned.
- There is a big difference between data (a commodity) and information (that adds insight to the data). Buyers of data will always go to the lowest cost producers with the most scale. Information providers can charge for the value of the insight. The latter will result in a far greater margin product. The point is to know the difference between the two and market accordingly.
All great companies are founded in great products. Creating a great product is a fundamental part of launching a start-up.