Creating a high-quality product is just one part of building a profitable business. The reality is that a myopic focus on product development can ultimately prevent you from achieving your business goals. Unfortunately, this notion is one that many growing companies don’t understand until it’s too late.

For most companies — and all early-stage startups — getting the most out of every dollar and hour is critical to survival. It’s tempting for many founders, especially those with engineering or other technical backgrounds, to adopt a build-first mindset. They hope a well-made product will be all they need to succeed.

To be fair, this isn’t the worst approach. Inevitably, your product will be at the heart of your value proposition, and an early focus on building it can pay dividends down the road. But if you’re hoping for any sort of long-term business success, you must strike a balance between product development and three equally important areas: marketing, customer service, and human capital management.
You can read further from the article source via : https://www.postcustodian.com/3-reasons-why-your-success-depends-on-more-than-a-great-product/