How to Build Technology Product Businesses Effectively | Ariya Chittasy

Ariya Chittasy

Jun 09,2020

Ariya Chittasy
#Business

Are you ready to build your technology product?

Maybe you’ve thought about doing it for a long time. 

You’ve got the passion, and maybe you’ve even been talking to people and now you’re convinced that there is a real market opportunity for your product to fill, so what’s the next step?

It’s very easy to be overcome with the desire to see your product become “real”, so much so that you might rush in and spend thousands of dollars building it, because you want to get it into the market and start growing your business.

However, before you do this, there are some things that you need to think about…

Is there a market need for your technology product?

Think about it simply…. Do people out there really need your product? Do they think that it will solve the problems that they have?

But how can you answer this question?

One way is to create a UI/UX Prototype. This is where you design all the screens of your product, and even make them link together so that it looks just like your finished product would. The only difference is that nothing is programmed on the back-end, meaning that nothing will happen when the user clicks on the buttons. This costs a fraction of the price, and it will allow you to go out and get real feedback on customer perceived value of your app or software

Think of it like a plastic mobile phone that you would give to your child; it looks real, and gives the user the same experience, yet nothing “real”  happens below appearance level.

An alternative is doing a Non-Product Trial. This is where you offer the same value to your customer as your automated app or technology would, just in a manual service way. This gives you real customers before you even create your product.

Before building your product, you also have to consider;

Technology Scalability

You have to make sure that your app or software can handle serving a large number of people in a short amount of time. Many entrepreneurs worry about saving as much money as they can on their product build, so they end up developing something that looks great, but can only handle 100 users per day before bugs start to appear. You need to be comfortable spending the necessary amount, in order to set your technology software up to deal with 10,000 people per day.

These points are so important to consider, but they are normally overlooked.

About the Creator

Ariya is committed to empowering the future of entrepreneurship. With 4 startups in the last 8 years, including one awarded Fastest Growing Company Asia-Pacific (Business Excellence Awards 2014) and another growing into a 55+ person company in under 2 years, He thrives on materializing ideas into real businesses. WHAT IS ARIYA UP TO He is working with visionaries and innovators to create tech-based companies that serve the world through his role at Engenesis Ventures. Through state-of-the-art technology builds, access to investor networks and a unique startup to enterprise planning process, Engenesis is able to bring new technology ventures to the market faster, leaner and with less risk. My role is in managing the growth of our startup portfolio and so am constantly looking for great founders with great work ethic and mindset. Open to introductions in this space. Ariya also has a keen interest in philanthropy and social entrepreneurship.