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What’s Your Why? Defining Product Development Success

December 13, 2022 | 0 min read

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Product developers today need to focus on their why, according to a pane of industry experts at Money Experience Summit 2022. 

It’s crucial for product teams to define and remember the reason behind building the product in the first place. Every single individual in your company should know and understand your product’s why. It’s important to define the purpose behind your product. Without a purpose, it will be difficult to drive impact. 

“I build products to have impact,” said Parilee Edison Wang, Head of Product at Alloy. “If we have the impact we set out to have, we build great products.”

It’s impossible to build your product’s impact on your own. In order for your product to succeed, it is key to work closely with teams across your organization. 

How are you partnering with the critical functions within your business — your design team, engineers, revenue team, customer support team — to drive impact? This is the question product developers must ask themselves.  

In the end, product development is built upon one simple fact: “You have to get it right,” Wes Hummel, Chief Technology Officer at MX said. What does “it'' mean? Developers need to build security, reliability, availability, and scalability into their product all while providing a nearly perfect experience for customers. 

Watch the entire discussion from Money Experience Summit 2022 here: The ABCDs of a Kick-Ass Product Development Strategy: APIs, Build vs. Buy, Consumers, and Data Connectivity.

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