Thinking of launching a product? Read this first

A short guide

At *Wavect*, we have over 20 years of software development experience.

In our time we’ve seen bad, good, and great product developments.

One of the most common mistakes we’ve seen is rushing the process. This usually results in higher expenses, delays, and unmet expectations.

We don’t want you to make these costly mistakes so we wrote this for you.

(1) Write down the idea as concisely as possible

Ask yourself: What single, major problem does my idea solve?

Here’s a chatGPT prompt that may help you:

(2) Search for competitors

In most cases, if there are no competitors:

• you’re either delusional
• or there is no market

Of course, there are exceptions! But don’t forget to check out the competitive landscape.

(3) Talk with people and/or target customers

What I always try to do is find reasons not to build the product.

Are the alternatives good enough already?

I like to ask the question “Why do people not need this?”.

(4) Evaluate the technical feasibility

Is the idea one that you can build?

Can you fund the operations? If not — how will you attract investors?

That should be enough to get you started.

If you prefer, book a call and tell us about your idea.

We’d love to help you explore it, absolutely no strings attached!

[embed]Free Intro Call: Kickstart your project - Kevin Riedl @Wavect GmbH We offer a No BS guarantee, meaning you only pay if you are satisfied with our work. Website: www.wavect.io LinkedIn…calendly.com

Alternatively, email us at *office@wavect.io*

*Wavect* is a software agency specializing in Blockchain tech (Smart Contracts, Web3, NFTs and DeFi, Infrastructure).

Kevin Riedl, CEO, *LinkedIn*

our mascot — Ernesto

Some other blogs of ours that may interest you:

1. The *processes we follow* at Wavect
2. *Our case study* of Scramble Wallet
3. How to *vet a tech partner* (agency, freelancer)