Strategies for software companies

And more importantly how do we find that out by investing the minimum amount possible. That is where the MVP strategy comes in. The concept of MVP is getting acceptance throughout in the area of Product Development and is largely used by start ups, although it could be immensely helpful for new product design and development in large organizations.

Pegasus One is a Southern California-based software development company that offers its clients a better, customer-focused experience by utilizing local management teams and a unique hybrid of US, nearshore, and offshore-based development teams. Growth Strategies for Software Companies. Growing your Product Software companies can get stagnant very fast if the management lacks the vision to keep innovating.

The Strategic Product Plan The essential goal of a product plan should be to ensure that a product is built that delivers some business value to a specific set of customers in order to meet certain financial goals based upon a defined corporate strategy.

Strategies for MVP A survey for the likely features of the product. An email campaign to see the interest generated for the product. It is an irrefutable fact that we now live in one of the most transformational periods in human history, and every facet of our lives is undergoing exponential change. The impact of this change is felt far and wide, across diverse domains and geographies; enterprises are struggling to deal with the dual challenges of business model disruption, and technology disruption by digital accelerating technologies such as IoT, SMAC and AI.

Perhaps this challenge is most acutely felt in the software product industry, due to its inherent vulnerability to innovation and technology changes. Traditional stand-alone software products are being re-architected with micro-services and positioned as either enterprise SaaS or as part of a platform eco system. As product businesses are grappling with these tectonic shifts, the key question confronting them is — what should be the drivers for software product strategy in such a dynamic and fast-paced business environment?

Based on my extensive insights and expertise in enabling the growth of numerous enterprise class software product companies, I have reached the following conclusion:.

In this blog, I would like to elaborate on the rationale for the above cited conclusion, and outline growth strategies based on elements of Value-Discipline modeling and Growth-Share matrix for software product companies. Based on the findings of a 3-year study of 40 companies, that have far exceeded the performance expectations of similar-sized businesses, Treacy and Wiresema formulated the value-discipline model. This model proposed that enterprises must focus on 3 distinct areas or value disciplines , which are:.

Tracey and Wiersema proposed that to be competitive, an enterprise must be competent in all three disciplines the minimum threshold , but to be a market leader, an enterprise must excel in just any one discipline. As each of the value-discipline areas will result in the customer valuing the enterprise in a different way, the model proposed that enterprises must make a key strategic choice about which value discipline to select and focus on.

The Growth-share matrix also known as the BCG matrix was a popular chart introduced in , and widely used by enterprises as an analytical tool for portfolio management and allocation of resources.

The business units or product lines of a company are plotted based on their market share and growth rates in a scatter graph, which is split into 4 distinct segments:. Excellence across all value disciplines is a necessary pre-condition. Amazon was a year away, Google was 5 years down the road, and Facebook, a good decade ahead in the future.

Understand who is buying your product. A marketing strategy for software companies might target buyers, users, purchase influencers and even the C-suite. Invest in social media for the long run. You need to commit to investing time and money in your social strategy. While many companies quickly dole out social media responsibilities to part-time interns, use an experienced, talented communicator that can effectively represent your brand.

Employ a steady, consistent SEO strategy.