Product Development for the Little Guy

Apply big-boy New Product Development (NPD) strategies at your small company.

Smaller companies can benefit just as much as large corporations when it comes to having a formal, New Product Development (NPD) process. According to the Product Strategy Blog, a typical New Product Development program includes:

  • A review board that provides resources to development programs.
  • A core team responsible for managing development implementation.
  • Management reviews for milestones during development.
  • Clearly defined objectives and deliverables for each management review.

While many of these process parameters translate to small business, some special considerations come into play. These include:

  • A lack of a dedicated product manager or product management resources.
  • Less R&D dollars.
  • A non-existent or informal company strategy.
  • Smaller development teams.

The Product Strategy Blog explains these special considerations, and how they affect small company strategy in the full article (link below).

vickilynn
vickilynn
Blogger

Vickilynn is a Novelist whose first book "Waving Backwards" was published in July 2015. She is also a Blogger at Adoptionfind Blog. Previously, she was a Freelance marketing copywriter at OpenView.
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