{"id":6545,"date":"2022-03-31T16:09:26","date_gmt":"2022-03-31T19:09:26","guid":{"rendered":"https:\/\/site22.dev.softdesign.com.br\/en\/?p=6545"},"modified":"2022-12-08T10:16:00","modified_gmt":"2022-12-08T13:16:00","slug":"time-to-market-how-does-it-affect-business","status":"publish","type":"post","link":"https:\/\/site22.dev.softdesign.com.br\/en\/time-to-market-how-does-it-affect-business\/","title":{"rendered":"Time-to-market: How Does It Affect Business?"},"content":{"rendered":"Choosing the right time to make decisions is one of the most important factors in our lives. There are those who believe that intuition and experience are the best allies in these moments, while others take action only after analyzing data and information in detail. Nevertheless, timing plays a crucial role in personal and professional relationships and generates a significant impact on business and results. The same is true for launching a digital product \u2014 that is why time-to-market (TTM) is so relevant.\n\nIn order to bring some perspectives, we will share some insights about time-to-market in this article. It is important to emphasize that consolidating concepts is not the main objective of this content since the topic raises discussions. What we present below are contributions that help us to reflect on the ideas that permeate this debate.\n

Exploring Concepts<\/h4>\nTime-to-market<\/strong> is much more than a buzzword headlining the universe of startups and digital businesses. In its most consolidated meaning, the expression represents the time span between the conception of the product and its launch on the market. This time is relative and varies from industry to industry, that is, the success of the strategy depends on a number of factors related to the business.\n\nTTM can also be interpreted as the time between the start of the team’s work and the first sale. With this in mind, it is essential to consider that some product and service development strategies depend on time to achieve a competitive advantage. In these specific cases, the longer we take to launch, the less market share, revenue, and competitiveness we will have.\n\nLaunch time doesn’t always have to be as fast as possible. In this race to enter the market first, it is essential not to lose sight of the quality standard, that is, the reduction of time-to-market should not be pursued at any cost. Seeking competitive advantage through quick feedback collections is the best way to improve the product with agility and excellence.\n\nFurthermore, by optimizing Software Development<\/a> and product marketing<\/a> processes, we reduced launch time. As a result, we gained more market share, as well as customer and user loyalty. Remember, being the first to explore the blue ocean<\/strong>\u00a0may result in a higher profit margin than the competition.\n

How to measure time-to-market?<\/h4>\nAccording to John Carter<\/a>, author of Innovate Products Faster: Graphical Tools for Accelerating Product Development<\/em><\/a>, the first step is to know what you are measuring and why. It is possible to measure the period (months or years) it takes to bring a concept to market, or the working hours of the people involved in the project, for example. In some cases, companies start timing when the team and budget are approved. However, in other situations timing starts weeks later. Therefore, it is essential to define when the project starts and ends.\n\nCarter recommends two-time measurements<\/a>:\n