Adam Clarke Macropay Founder and CEO talk about the intricacies of tech product development. As a multi-faceted and complex topic, tech product development can be hard to comprehend.
To start off, product development is how inventions are monetized. Tech product development is a component of product development. However, tech development is more inventive and nuanced. Examples of tech or technology-powered products include smartphones, smartphone apps, smartwatches, and automated devices like lights.
What separates successful tech product developers from others
What often separates tech products that succeed from those that don’t is rarely creativity. What truly separates them is on one hand lacking a clear understanding of the intricacies of tech product development. On the other hand, many developers lack the tenacity to learn from their mistakes and keep improving their products.
Adam Clarke goes on to say that a good idea is not enough to launch a successful or even functional tech product. Turning your idea into a working product requires passion, patience, and expertise. While the tech product development process takes time, Adam Clarke likes to say “It’s not over until you win” to quote his favourite motivational speaker Les Brown.
Improve your tech product development
As the founder of a successful multi-million-euro tech start-up, Adam Clarke is passionate about sharing the lessons he learned with other entrepreneurs. Having started Macropay in a living room in 2013, Adam Clarke knows what it feels like to be the underdog. Macropay is a true example of the saying, “it’s not how you start that matters but how you finish.”
1. Begin with the end in mind
Before you start developing your tech product, it is important to define your product details and objectives as much as possible. Include details like the product functions, features, price, and whether you want it to be static or scalable.
It is also important to do some research and identify existing or potential competitors. Defining your target end-user clearly by developing a buyer profile can help. You also need to be aware of any barriers to entering your target market.
2. Outsource specialist skills
Tech products mainly consist of three components: software, hardware, and firmware. Unless you are a swiss-knife, it is unlikely that you have the capability to design all three up to standard. If you do not possess the skillset or experience to perform a specialist task it is better to outsource. Hiring someone with the skills you lack will improve the likelihood of your tech product development success. For instance, you can hire an electronics engineer. Based on your product features and specifications, the engineer can select the right product components to ensure the viability of your product when it goes to market.
3. Do not be afraid to fail!
Let’s be honest, your first tech product is not going to be perfect. However, producing a ‘working model’ or prototype greatly increases your likelihood of success.
Take a few pages from the handbook of Macropay’s Adam Clarke. He emphasises that “standing back up again after getting knocked over by failure is the most important part of being an entrepreneur.”