The Build quadrant is the first stage in the lifecycle and focuses on building new things (e.g., companies, skills, new features, etc.) or the evolution of existing ones (e.g., enhancing features).
During this phase, companies may (should) conduct market research to understand their customers’ needs and desires, identify potential competitors, and assess the feasibility of the product. Upon completion of this initial research, work begins on the design (product requirements definition (PRD), UI/UX designs, etc.) and then the build of a prototype or first iteration. Once the prototype is tangible, the product is tested and refined to ensure that the product meets the needs of the target market. NOTE: while some things may not call for a prototype, gathering feedback and iterating to enhance the product is imperative. For example, think about the alpha of a product and how much it changes before general availability.
While we may focus on the product/services related to actual goods (software, service, goods), the build piece is equally as crucial for building the company and its internal services (e.g., founding, HR, training, finance, etc.)
For example, when we started DevRev, we initially focused on building the company (trademarks, branding, funding, ideation/value-prop), then started to focus on building the product. Ensuring focus on both is extremely important.
