how to survive pivotal startup phases

How to survive pivotal startup phases

Business

Product managers play a crucial role in the success of a product based startup. The role of product managers in startups incorporates a lot many things, unlike big companies. As the size of the team is small and funds limited, they have to manage it and work in coordination to build the desired product within strict timelines. They have a leading role to play in 3 critical phases of any startup, i.e. formation, validation, and growth.

When founders define a problem to be solved, product managers come into the picture. They have to understand the gravity of the problem. As per the requirement, they try to come up with a solution, a product that could potentially solve the issue at hand. Designing and developing a product just from ideation is a heck of a task. Several startups work on creating a disruptive solution; the job of these product managers becomes herculean. Sometimes they opt to develop their tech to build a product rather than using tech that is available. This results in lowering the costs but takes a lot of time comparatively.

Once the startup has a minimum viable product and is getting excellent traction then it is time for them to work further to make it better by taking into account consumer feedback. If it getting difficult to market their product then the company needs to pivot. Even if the product is getting sold, product managers should continuously work to upgrade their product, include more features and make it ergonomic. There is a lot to be done after launching MVP. Hiring the right talent and giving them the freedom to work is inevitable for a better product. Continuous product innovations and modifications are necessary for building an ideal product mist consumers want. Product managers should not get too emotional with the product they develop and make appropriate revisions as per consumer feedback even if they think otherwise. Because in the end, if a startup builds something people want then only it has maximum chances of surviving.

Arya Adams

Arya, our senior correspondent for business updates, have worked in the industry for more than a decade as an executive and in other roles. Right now, she focuses on covering business updates that matter to not just the commons but also professionals like investors. She is a great lover of books and is planning on writing the ultimate guide on business analytics.