Understanding the mechanics of estimating the costs of the product development for web-based solutions
In the sphere of corporate web development, one of the primary challenges for start ups and solopreneurs is coming up with the right estimates and the product development costs in particular. This challenge is something that we, at busy Rebel which is a product development lab located in Poland that offers enterprise web development, face many a times. Since many aspects have bearing on costs such as the creation of the concept and its verification on the market, mechanisms of estimation are valuable to know in order to make the correct choices.
This article focus on the important phases in the development life cycle of web based products and how some elements influence the cost and how you can even plan your spendings efficiently.
- Concept creation: Laying the foundation
The journey begins with clearly stating a valid and attractive concept. This stage includes:
- Market research: Finding the users’ need and the company’s opponents
- Problem definition: Explaining the problem that’s being solved by your product.
- Feature prioritization: Determining the must-have features vs nice-to-have.
At this time, working with professional advisors such as Busy Rebel enables moving in the right direction as ensuring that the concept meets the market, hence avoiding expensive mistakes in processes.
- Minimum viable product (MVP): Incoming the MVP stage
Induction an MVP gives you the coincidental to test your notion quickly and without incurring any extra expenses. Rather than developing a complete product, concentrate on creating a prototype that includes the most important features. An MVP helps you source the audience’s opinions, provides effective iterations, and finds investment opportunities, all on a limited budget.
- Ruling the product-market fit
Finding the product-market fit is one of the most essential stages, it’s the moment when your viewers accepts your artifact. This stage typically requires several rounds of iterative design based on usability testing and hence appropriate considerations should be made for the budget relating to updates, testing, and scaling. Busy Rebel helps you to refine your MVP and transform it into a scalable product that is prototypical to the market.
- Technology stack selection: Cost versus scalability
As a rule, the selected technologies will determine your development costs. For example:
- Open-source frameworks allow initial investments to be reduced,
- Cloud solutions optimize scalability, but may have some after costs,
- Specialized tools or platforms may seek more initial disposable income but make sense in the longer term.
At Busy Rebel, we help our clients select a flying tech stack that is cost effective, high performing and ready for the future.
- Customer development process: Keeping focus on the users
When discussing customer development, it is primarily about active on-going interaction with potential users for the enhancement of your product. Such a process contains training as well as effective techniques such as interviews, usability test, and so on and so forth. Though such activities come at a low cost, the revelations made in such activities help the entrepreneur avoid engaging in certain tendencies that will not bring forth productive results.
- Proof of concept (PoC): Establishing viability
A PoC provides some assurance of the technical feasibility of design, at least for its special purpose, its applications, and some significant restrictive factors to its evolution before any large development effort has begun. This can be especially useful, as enterprise companies are looking to use it to reduce exposure or to get the approval of important and involved parties.
Estimating metrics with the support of experts
Inevitably, these phases may seem too tough, not to mention the bone-breaking task of accurate cost estimation. Busy Rebel’s services come in handy here. Having worked on web based product development for a considerable period of time, we partner startups and solopreneurs to help them in project structure, cost planning, and the project’s fit with the overall business objectives.
When you are ready to discuss the way of calculating and estimating the costs of product development and how you’ll make your dreams become real, then feel free to address Busy Rebel where our experts assist you. Without any further delays, we can convert your thoughts into a product with the required budget.
How Busy Rebel can assist you
It takes certain skills and direction to work around the intricacies of web product development. Here at Busy Rebel, we provide assistance to startups and solopreneurs where we can turn their envisioned products into a reality. Our skilled team would be able to guide you in defining your MVP, selecting the appropriate technologies or even cost estimating as required.
For direct consultation please see how to estimate product development costs with Busy Rebel. We have focused consultations designed in any instance to avoid going off track in the undertaken project while making sure the project costs are not over the limit.
