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Throwing infinite money and developers at something does not make a good product. Source: I work for a SaaS aimed primarily at large banks, most of which attem
by RSZC 8y ago
Throwing infinite money and developers at something does not make a good product.
Source: I work for a SaaS aimed primarily at large banks, most of which attempted to build our product themselves before giving up and signing with us.
- metei 8y agoJust curious, what does your SaaS do? Additionally, I've come to believe that even the most forward thinking banks and credit unions don't understand tech one bit, based on how poorly written most of their software is.
- toomuchtodo 8y ago> Throwing infinite money and developers at something does not make a good product. Of course not. But it gives them more time to try and more attempts, where your runway is limited. You would eventually run out of funds if you don't find product market fit. They will not run out of funds, ever.
- valuearb 8y agoAnd likely they will be unable to build a good product, ever. You can't have decision making dissonance at the most senior levels of your organization and make good products. Resources alone solve no product problems, leadership is far more important. I know of a $10B company whose most important feature (by far) of it's consumer facing app fails well over half the time customers tried to use it. This problem has been known for nearly a year and at no point has the team been allowed to make fixing it a priority.
- toomuchtodo 8y agoYour product doesn't need to be good if you control the market for it. You’re going to go start a bank you say? See BankSimple and Standard Treasury (and their abysmal exits to real banks, BBVA and Silicon Valley Bank, respectively) to see what that path looks like. Having a great product alone is not good enough.