A Software Product Company without a dedicated R&D wing is just like a car without an Engine!
Why? Because, as the Engine is a core component and without which a Car can’t run, just like that without a dedicated Research Team a Software Product Company becomes crippled.
Have you ever thought, why your product would excel in the market if it does the same thing with minor variations from its competitors? How will you position your product then?
Because delving deeper & finding some innovative solution is the main mantra for any product’s success in the market. Otherwise just sell services like what hundreds of other players are doing.
Without innovation a Software Product company is just a crap. Maybe I am seeming a bit rude but I am telling you the truth.
I have experienced this scenario in my own career. I have seen how a growing company of once can gradually become sick & get totally out of the market. Only due to the lack of innovation.
Technology is such a turbulent space, if you don’t innovate constantly, you will not be able to ride smoothly for a long time. Because you never know when you will get dethroned by one of your close competitor.
That’s where the necessity of a dedicated Research Team comes into the picture. Because you can’t expect a great breakthrough by taking some mediocre resources on board & crunching on budget.
True innovation demands Intellect & to bring that intellect on your team there need money. So instead of wasting your money on unnecessary luxuries, invest on your company’s future.
That’s what I was talking about. Setting up a dedicated research facility (may be small) & hiring some great talents/ minds & investing on them can only be the way to sustain in this highly competitive Software Product Ecosystem.
You may have achieved a great position with the backing of a great product, once your company had developed but that should not be the end.
Even after achieving a significant height the research should continue on continuous basis.
If you start thinking, you have become untouchable then that day will be not too far when you will become the king of nowhere.
So when you are the lead of your company, have a vision & always look for doing something path breaking what others are not looking at.
Otherwise, with fluke no one can sustain for a long time. Someday will come when market will get dried up & you will find nothing.
So, always try to Innovate, Find & Unveil something new, exiting, on-demand & helpful. That’s why you should have a dedicated R&D team for your Software Product Company.
Hope you have understood what tried to tell. Now what’s your take on this? What you think? Have you faced any situation like this in your career, where you had worked once?
Do share your experiences with us?