I am converting an AI based enterprise business application to a commercial product. Any suggestions for the right approach or frameworks to be followed for the conversion.
Can you elaborate more on what this application is about and what do you mean by commercial product? Is the application not in use right now? If it is in use who is using it?
In general, I would consider the following questions before commercializing any product -
- What problem is this product trying to solve? And for whom?
- How severe is the problem for the target customer? How much time or money does the person spend on solving the problem?
- How much does your product save time and/ or money?
- How often does the customer face this problem? If it is frequent, I can think of an enterprise SaaS business model with subscriptions. If it is once a year kind of a problem, the one-time payment model makes more sense with very good results.
We can also go into specifics such as time of the day, location, the budget of the customer, and demographics to really map the user’s persona and come up with the right business model.
We have listed a pretty good resource on creating a business model. You may find it useful - What is business model design? – Prowess (showprowess.com)
Thank you for sharing the detail.
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