From idea to product
We have made progress in terms of visualizations and the vision of the product. While developing the visionary version of the future product, it is worth paying attention to the level of innovation: are you generating just incremental innovation or does the product contain a radical innovation that will revolutionize the market?
It’s been a while since the last update, almost two months now. We’ve been focusing to visualize fully the design of the future product. It will act as a long-term vision of where we are aiming at.
The product vision helps unite the team as it grows. It allows us to communicate with each other and share a common goal. In addition, it will be used to communicate with investors what we aim to reach and do with the money invested in the company.
Here’s a quick recap of how we’ve ended up to where we are now
This surely has been a much longer journey until this point than I actually anticipated. But there is no way around the groundwork. At first, we had a concept. The concept materialized into the form of a PowerPoint presentation.
After that, we started drafting visualizations on the most important functionalities and made a few versions out of them. Those visualizations have been since then expanded and the model of the future product has now been formed.
So, what’s next?
Based on the visionary product, we will now start building the MVP version. This is done by pruning and prioritizing functionalities. In this context, it is particularly important to identify the activities that are most critical and add the most value to customers.
We have therefore conducted several interviews with representatives of different functions of companies of different sizes and with several sourcing professionals and consultants.
Planning the MVP and making prioritizations of functionalities is already getting closer to actual production. The need for technical know-how is growing. The MVP version should not contain technically complex or bulky features. The MVP must be technically simple but functionally adequate.
We have therefore opened a position for a software developer in the hub.io and Kiuas inside. To my surprise, several candidates have been found despite the ongoing developer shortage. There is clearly an appeal in the startup world compared to larger companies and corporations.
I have been thinking about different qualities and skills a person should have. It’s probably one of the most important recruitments we will make. At what weight should experience, technical know-how, personal chemistry, and character be valued? I have concluded that all the above are important. But the final choice is made with emotion and intuition.
It may sound like an unscientific approach, but intuition and feeling do not arise from the void. The person needs to increase our confidence in the success of ProcureNode.
The future trio is the one that will take the company from scratch to the path of growth. Everyone must believe that it is possible and commit to the joint effort with the resources we have available. And stretch if necessary. Getting started is not going to be easy.
The first section of the NewCo business accelerator has ended and the go-to-market module will be launched next. We are a little behind now as we are missing the MVP. However, I firmly believe that we will be able to close the gap and move forward quickly once we have our initial team completed.
I will publish this Newsletter, with a bit longer interval at least for now. This is because we will increase our focus on the essentials. The priority is to make the MVP visualizations finalized, create a short-term implementation plan, and get them agreed upon.