Pricing a product is a highly important yet deceptively tricky task. Highly important because it can determine how well your product performs on the market, thus laying the foundation for your business’s success. Deceptively tricky because while you might think you have enough experience as a consumer to come up with an appropriate number, the truth is that pricing a product requires a lot more than market comparisons and a hunch.
So what does it take to figure out your product’s worth? Let’s take a look.
If I think about the most amazing experiences in my life, becoming a mom is definitely one of them. I’ve had a complete shift in perspective going from being the child of a parent to the parent of a child. Becoming a parent changes your life in so many profound and fundamental ways: your ability to love, your capacity to give unconditionally, your belief in the wonders of life, your willingness to function on almost no sleep.
As a new mom every moment is precious. I have millions of brand new problems that I need solutions for, so if you can give me solutions that will save me time and energy, I want to know you and hold on tight.
Women at a computer industry entrepreneur workshop. From Dell’s Official Flickr Page, via Wikimedia Commons
It’s been a tough summer for women in the tech industry, or any industry for that matter. First there was the unsurprising report about Google’s diversity problem. Then the sordid (but oh so compelling) tale of gender shaming and sexual harassment alleged in a lawsuit by Tinder co-founder Whitney Wolfe, who was reportedly told by her co-founders that mentioning a “girl” was one of the founders would “make the company look like it was an accident.” Even HBO’s wonderful show Silicon Valley tended to make women seem more like props than actual thinking people who represent more than half of the population.
Can we reverse this summer slump? How about a reminder that women entrepreneurs are distinguishing themselves as smart and successful business leaders? Because if there is one thing female entrepreneurs have in common, it’s that they persist even in the face of gender prejudice.
In May 2014, Shawn Dimantha launched the first US-based chapter of Hacking Health, an organization designed to ignite collaboration between tech creators and healthcare professionals to solve healthcare issues. Shawn has since invited two fellow Product Management graduates on as co-organizers. Together, they’re on a mission to make an impact in health tech. We caught up with Shawn (left) and Frida (middle) to hear their story.
President Barack Obama, with Vice President Joe Biden, delivers remarks on job training before signing the Workforce Innovation and Opportunity Act, July 22, 2014. Official White House photo by Amanda Lucidon.
In January 2014’s State of the Union Address, President Obama issued a rousing assignment to Vice President Biden, asking him to lead a review of federal training programs to identify and implement strategies to make these programs more job driven—that is, responsive to the needs of employers to “effectively connect ready-to-work Americans with jobs that are available now.” This review is part of a greater effort to grow the U.S. economy and put the American middle class back to work.
Agile product management was first developed as a reaction to various challenges that occurred in more sequential forms of project organization. As technology projects became increasingly complex, many product developers needed to replace their old style of management with a more iterative and flexible one–leaving room to refine long term requirements as the product advanced.
Today, we kick off the inaugural session of General Assembly’s first long-form online course, Web Design Circuit. Through twelve weeks of instruction, this online program will provide students with the skills they need to build a website from scratch, including HTML, CSS and the principles of good web design. We’re creating a new path for students to gain the web design skills they need to change careers or level up in their current jobs, regardless of their location or ability to make it to a GA campus.
Wikimedia Hackathon 2013, Amsterdam via Flickr
Remember those all-night cramming sessions in college, when you would overcaffeinate, stay up for days, and muster all the focus you could to finish a paper or prepare for a test? Imagine a room full of computer programmers, developers, visionaries, and marketers doing the same thing for a day, a weekend, or even a full week. Instead of cramming, they are competing to create prototypes that innovate on a theme or improve upon an existing project. It’s called a hackathon, and it is has become a regular part of how technology companies do business. In fact, the power of the hackathon has extended beyond the tech industry into countless other sectors.
Whether you’re thinking about starting your own business or already running one, you’ve probably looked at entrepreneurs who have found success and wondered, “How did they do it?”
Of course, there’s no simple answer to that question; every path to success is different. But despite those different paths, it is possible to identify some common habits shared by successful founders, from rap moguls to titans of agriculture.
See how many of the below habits you share, and how many you need to embrace in order to reach your goals. Continue reading
CC Image Courtesy of Ritesh Man Tamrakar on Flickr
Susan Feldman, cofounder of shopping site One Kings Lane, attributes the company’s success to not aiming to build the next big thing — she recommends “that if you have an idea and you want to do something, starting small is okay.”
Feldman’s advice mirrors the wisdom many companies follow when introducing their product or service to the market: begin by testing interest and enthusiasm with an MVP, or minimum viable product. This “barebones” product has just the necessary features to receive money and feedback from early adopters. Not only will this provide you with constructive criticism from your core audience, but a strong user reception validates moving forward with a product. Look to these five success stories to see how companies have used their MVPs to float their product to the marketplace.