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In order for an idea to become a working product, it must be transferred from the plane of creativity to the plane of clear organization and planning. To do this correctly, one needs a product development process — a step-by-step guide.

Below, we will analyze what steps are included in the product development process, why we need them, what product increments do they bring.

First steps

So, this day has come. You have been nurturing your idea for over a year now and have discussed it with a whole bunch of people. It’s time to finally make your dreams come true and bring something new and useful to the world.

You can either do it yourself or have some professionals involved, but we strongly recommend being cautious about rushing your product to the development (but not too cautious — good timing sometimes accounts for 80% of success).

The main stages of product development

Okay, so here you are in an office or on a Zoom call with your PM and likely some other members of the team who will work on your project. Where do you all start? First of all, you need a proper Discovery phase.

When we work on some B2B or B2C solutions, clients usually care more about the functionality and the user experience rather than the design, so this UX can be rather simple design-wise. - Adam Smith

Post-release activities

This type of software helps you track and manage your finances - including checking, savings, credit cards, and investments all in one place. When selecting the best free personal finance software, consider the following factors:

  • How the success of the project will look like and how will we measure it;
  • What challenges and constraints are we aware of at the project start;
  • Which personas will our product have;
  • What are their needs and expectations, goals, and pain points;

Conclusion

Congrats on making it this far! We hope this article provided useful insight into how the web development of products is done. You are now almost an expert, & you’ll definitely have more confidence when talking about the work with your team.

Just remember that cases are unique, and there’s no magic pill for each & every project. Remember that having no plan is a plan to fail, & help your team bring your vision to life.

2 comments on this post:

  • blog-comment-large-user-img-1
    Ricky Smith
    June 14, 2024

    After reading the blog, I understand why personal finance is exigent. Personal finance isn't just a way to track your spending.

    • blog-comment-large-user-img-1
      Joshua Jones
      June 15, 2024

      It's a tool to secure your financial future, helping consumers track spending, pay bills, track budgets and create savings.

  • blog-comment-large-user-img-1
    Stephanie Nicol
    Jan 28, 2025

    Yes exactly! Personal finance software gives you a clear picture of your financial situation by effortlessly organizing & tracking expenses.

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