Entrepreneurs spend their waking hours (as well as most of their sleeping hours) to get one thing right: the product development lifecycle. It is the one thing every business relies on so that the firm has a bevy of products and services they can sell to the customers.
How well a business executes the process of developing and launching a product often is an indicator of the future success of that business.
Why is the Product Development Cycle so Important
Here are some key statistics to think about when it comes to product development:
- New products have a failure rate of 25% to 45% (Pivot International).
Continue reading How to Follow the 5 Stages of the Product Development Lifecycle at StartUp Mindset.
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