Strategy and the works

Strategy is normally the conception of an idea. This is followed by planning and execution. People think that, without a proper strategy, the remaining phases are at peril. Not today. Strategy is now evolved as planning and execution and they are often done using Agile Technologies first. The approach seems to have shifted from top-down to bottom-up.

The best way is to build a product as fast as possible, but release it as BETA to the public. As and when the bug list increases in size, we have to tackle them one by one in a severity manner. The live product or the next version should normally get it right, but mind you, the market may or may not accept the product.

If a product is way ahead of time, like say Google Wave, then it's bound to fail. On the other hand, if a product is shoddy then also the market will not accept it. The biggest hurdle in this equation is the market's readiness. This can only be gauged by doing market research either by yourself or an agency. For e.g. if you are building a website, it's good to opt for some SEO. (Search Engine Optimizations)

Strategy as taught in business schools is a classical concept and cent percentage is not applicable. In the age of the internet, we move at lightning speeds, we detect changes every second and we comply to them. The best way to be safe is a contract on T & M basis. (Time and Material) But there are many who are venturing into uncharted waters of product development.

If done right you will reap the sown, and if you missed something, well, the same mistake should not be repeated again. Always remember that the culture of the company will drive it's strategy and not the other way round.

Cheers

Guru30