A significant majority of startups experience failure, with a failure rate of approximately 90% within the initial decade, as stated by Investopedia. While specific statistics on the causes of startup failures are not definitive, they typically stem from one or a combination of the factors like running out of cash, low market demand, poor marketing, being outcompeted and so on.
Startups can overcome many of the challenges they encounter by laying a strong foundation during the discovery phase.
Now, what exactly does the discovery phase entail in software development, and why does it hold such paramount importance? Let’s delve into it to know!
What is the discovery phase?
The discovery phase in software development, also known as the planning stage, is the initial step in product development that precedes any coding. Its purpose is to prevent problems and mitigate risks associated with product creation and establishment.
The discovery phase involves setting goals, identifying potential challenges, and aligning the team around a shared product vision.
Ideally, the team involved in this phase should comprise the following members:
- Business Analyst: conducts market research, analyses the findings, and translates them into actionable plans for the later stages of the project.
- Project Manager: responsible for organizing the team’s workflow, overseeing deliverables, and ensuring adherence to deadlines.
- Tech Lead/Architect: selects the appropriate technology stack and defines the product’s architecture, including APIs, SDKs, and non-proprietary code. They also determine the project timeline and budget based on the scope defined by the business analyst.
- Designer: creates UI/UX wireframes during the discovery stage, which serve as the foundation for the application’s visual and interactive aspects.
The significance of the project’s discovery phase cannot be overstated. It sets the foundation for a business’s success right from the start, making the involvement of an experienced app design agency crucial; which can tackle all tasks under one roof!
Benefits of the Discovery Phase
The advantages of the discovery phase in software projects are extensive, leaving no doubt about its value for modern businesses. Let’s explore a few of these!
- Cost optimization: By having a clear understanding of the project’s scope and requirements in advance, the discovery phase saves developers from doing unnecessary work and helps to reduce associated costs.
- Idea validation: Before investing time and resources into a potentially unsuccessful venture, validating your idea during the discovery phase helps mitigate risks and ensures viability in the market.
- Increased trust: The discovery phase reduces uncertainties and risks, fostering trust among project stakeholders.
- Marketing strategy development: Defining the product’s core attributes in the discovery phase allows for the simultaneous development of a comprehensive marketing strategy, including user journey mapping, message formulation, and pricing models.
- Establishing clear goals: A well-defined roadmap created during the discovery phase provides a reference point for all project participants, preventing confusion and ensuring a cohesive and organized workflow.
Main Stages of the Discovery Phase
The discovery phase of a software development project does not have a set timeline, as there is no limit to the depth of research that can be conducted. However, there is a generally accepted approach to this phase. Let us explore the step-by-step process of the discovery phase:
1.Identify Stakeholders:
Determine the participants involved in the project and seek out professionals with experience in this early stage of development. Refer to the comprehensive list of roles relevant to the project and recruit experienced professionals for each role. You can rely on your network or consider hiring an expert digital product development agency.
2. Conduct Subject Research:
Identify the target customers, their problems, and their needs, and investigate existing solutions. Research competitors to determine their product offerings, weaknesses, costs, and implementation requirements. It is crucial to grasp the broader landscape to avoid being outperformed.
3. Establish Business Goals:
Define what your Minimum Viable Product (MVP) will encompass. Identify the necessary resources required for your business to achieve this goal. Determine the optimal time to market. Clarify how success will be measured in tangible terms. Having answers to these questions before proceeding to development is essential.
4. Define Technical Requirements:
Create a clear definition of the technical stack to be used in product development. Prioritize features based on the product’s essentiality and intended target market, while also considering future product possibilities.
5. Design UI/UX:
Avail of the services of a professional app design company to develop a robust UI/UX wireframe that will serve as a guiding framework throughout the product development process. This wireframe should consider branding and market positioning to ensure a compelling and user-friendly app design.
6. Identify Bottlenecks:
Every project is bound to encounter bottlenecks, and as the product owner, it is your responsibility to identify and address potential issues beforehand.
Deliverables of the Project Discovery Phase
During the software development discovery phase, the extent of preparation and analysis is boundless. However, specific essential documents must be generated to guarantee project success. Here are the key deliverables that you and your team should prioritize:
- Technical Specifications:
This document should provide an elaborate description of the Minimum Viable Product (MVP) you are constructing, encompassing the overarching logic as well as individual features and buttons.
- Project Roadmap:
A well-defined roadmap, created in collaboration with a digital product studio, will greatly benefit your Tech Lead and developers, providing clear guidance through each stage of the development process, including post-release plans. It is crucial to ensure that the roadmap includes specific deadlines to maintain a sense of progress and accountability.
- The Budget:
Forecasting expenses is vital. While estimations are acceptable during this phase, conducting thorough research is advised to provide a more precise budget.
- The Mock-up:
This final product design visually represents the functionality, flow, and interface of your application. Finalizing the mock-up during the discovery phase fosters a shared vision within the development team throughout the project.
- Delivery Stage Outputs:
At the conclusion of the Discovery stage, you will receive the following outputs:
- A final list of user stories, outlining the main project scope.
- Low-fidelity wireframes for visual representation.
- Architecture documentation and identification of risks.
- A project set up in the cloud for efficient collaboration.
- Forecast of development costs.
The duration of the Discovery Stage typically ranges from 1 to 2 weeks, varying based on the complexity of the project.
It is essential not to skip or rush this phase. It involves extensive thinking by specialized professionals and carries a significant cost.
Regardless of funding status, it is crucial to be budget-conscious when embarking on a new venture until product/market fit and revenue are established. The quality of work done during the discovery phase directly impacts future success. Offshoring can help navigate this challenging dilemma.
The good news is that now you can easily partner with a digital product design studio that has extensive experience in developing software from scratch, including assisting clients through the discovery phase.
So, find a good agency and get started on a venture that will continue to thrive with every passing day!