How to develop useful projects
Six months ago we realized that some of our products are unnecessary. Then we changed the approach to the evaluation of ideas. Now it has seven steps instead of two as it was before. Besides the usual features’ descriptions and approximate estimation, we analyze competitors, determine the price of licenses, calculate market size and forecast revenue.
Now a lot of business models’ turns occur at the planning stage rather than after they go to the market. Not all the ideas are being transformed into products. We develop only those which can be profitable, according to our estimates. So we do not waste time on the unprofitable development.