Conceive - Collect user problems & brain storm a variety of Solutions. Identify areas of focus
Plan - Conduct research on the focussed areas. Define the business use case and business benefit. Speak with users about the idea
Development - Provide & define timelines in relation to effort. Focus on the MVP
Iterate (Prior Launch) - Once we have the MVP, release the Alpha & Beta versions to receive user feedback. Test all assumptions made during initial research
Launch - Once the MVP is really DONE, work with commercials (Marketing & Sales) to get as much PR and define your market competitive space
Steady State - Collect all available metrics on usage, user engagement and conversion (onboarding). Optimise metrics as much as possible to constantly generate revenue
Maintain or Kill - Based on the data gathered, is the product competitive enough? Does it pay for itself and more? What is its Return on Investment? Does it still fit into the companies vision & strategy?