fbpx
Connect with us

Entrepreneurship

For a Truly Great Product, Malbek Encourages Cross-Company Feedback and Insight

person using MacBook Pro

Market research continues to be a booming industry, with global revenue of over $43.7 billion in 2018. There’s no understating just how important market research is for a business — especially when launching a new product. And yet, within the very walls of a company, there are valuable opportunities to elicit feedback and input: from a company’s own employees. Depending on the office culture, some employees are encouraged to be tight-lipped and simply do their job. But, the companies that truly win are the ones that encourage honest opinions and feedback from their team members.

Malbek is a cloud-based provider of contract lifecycle management software, helping individuals and companies to turn their contracts into living, breathing documents and avoid any costly oversights within the fine print. This is done through Malbek’s technology: it’s proprietary AI engine with powerful search and filter capabilities so that a team can always stay on top of all aspects of a contract whether in Sales, Legal, Finance, or Procurement. Their secret weapon for a truly great product? Empowering employees across departments to influence product design ideas. “That way, you’re able to glean truly great insights that you would miss otherwise,” noted Hemanth Puttaswamy, CEO of Malbek.

Ask Leadership to Encourage Participation

To make this effective, leadership must be at the forefront of the encouragement for employee input. Ideally, this should be done in an open-minded manner, where all ideas are supported. It may initially take a while to build trust and rapport with the employees so that they feel that their suggestions will be taken into consideration and that they won’t get blowback for critiquing the product as it stands. In the interim, it’s recommended to first get feedback anonymously. As Loren Margolis of Training & Leadership Success LLC shared with Forbes,Employees are naturally nervous about the repercussions of sharing feedback with leadership, especially if it is negative. Use methods that guarantee anonymity through online surveys and focus groups conducted by an external vendor.”

Or, make participation in problem-solving or decision-making processes a habitual occurrence. Patte noted that “product and Technology leaders should encourage team members to speak up by providing an opportunity for team members to participate in solving a specific problem.”

Problem-Proof Your Product

The weeks leading up to product launch are all-hands-on-deck times, and employees know how imperative it is to have a product bug-free. Puttaswamy says this is the perfect time to elicit real feedback and suggestions – specifically, in the form of a ‘bug-test’ or a ‘test-fest.’ This consists of an all-hands review of a product from a potential customer’s perspective.

“Provide incentives for employees across departments to participate as an activity that brings team members together on a common purpose which is to make your solution solid and better for customers,” Puttaswamy advised. This is a win-win: not only are any previously overlooked problems identified for fixing, but employees feel that they contribute to the company’s larger mission.

Consider Company-Wide Hackathons

Hosting a hackathon is the perfect way to go even beyond eliciting feedback and solving problems, and instead, to get creative ideated solutions from a team. Puttaswamy advises that these should be hosted semi-frequently. “Provide short breaks to the regular schedule, and come up with hackathons where developers will build unique features in a short amount of time,” he explained. “They’ll do this by using their creativity and customer experience, and the teams will then configure or mock implement unique customer use cases.”

The power of a hackathon can be significant to a company’s success. Case in point: it was during Odeo’s hackathon that Twitter was born. Odeo had been a podcasting platform that was quickly de-throned when Apple launched podcasting. So, the team was tasked with coming up with creative solutions or new features. Employee Jack Dorsey worked with the Odeo co-founders to ideate Twitter.

Incorporating the entire team in analyzing the current product and ideating new features is a powerful way to both ensure that your product is the best it can be, and also prove to team members how much their opinions and insights are valued and needed.

Advertisement

Become A Crypto Expert

Join Disrupt Magazine

Become A Disrupt Contributor

Most Disruptive

NFT1 week ago

Polly Kole, The Beauty With Gifted Hands Tycoon Of NFT Sculptures

In a society full of stereotypes, people clinging to appearance and disregarding one’s achievements is the magnificent Polly Kole stunning...

News4 weeks ago

Spider Man; No Way Home’, Crushes Box Office Estimates Generating A Mammoth $253 Million In North America.

After only 3 days in the cinemas, the latest and last Spidey outing disrupted the international market as the highest-grossing...

Cryptocurrency1 month ago

Nike just bought a virtual shoe company that makes NFTs and sneakers ‘for the metaverse’

Nike, the sportswear mogul, recently stunned the globe as it moved into the realm of the metaverse industry and blockchain...

QR code screenshot QR code screenshot
Diversity in Tech2 months ago

BTC did 62% more in transactions than PayPal this year

MasterCard and Visa have always topped as the runaway leaders; however, Bitcoin’s Lightning Network will soon disrupt this norm. Starting...

high angle photo of person holding turned on smartphone with tall buildings background high angle photo of person holding turned on smartphone with tall buildings background
Social Media2 months ago

How to Organically Grow Your Social Media Following In 2022

Instagram On Instagram, use Reels to reach new audiences and grow – find popular sounds and use them in your...

gold-colored Bitcoin gold-colored Bitcoin
Cryptocurrency2 months ago

Julio Domenech On How Banks Can Engage In Bitcoin in 2022

As cryptocurrency continues to become a popular trend in the US, many people are looking for an opportunity to participate...

Diversity in Tech3 months ago

Microsoft Teams, Incorporating New 3D Avatars And Virtual Meeting Spaces Before Mid 2022

Microsoft Mesh has always led as the future of Microsoft Teams meetings. However, Meta, the newly launched Facebook company, is...

Health + Fitness3 months ago

Stephen Campolo – How A Former Fat Kid Transformed His Body And Is Now Helping Others Do The Same

UPDATE: During a recent interview with Yahoo! News, Stephen revealed that he will be speaking at the next Disrupt Puerto...

News3 months ago

Facebook Goes Meta As It Scales Up Beyond Just Social Media

Thursday 28 September 2021, Mark Zuckerberg, the CEO of Facebook, announced Metaverse, a brand for users to interact in virtual...

JaeLz JaeLz
Entrepreneurship3 months ago

JaeLz “No Titles”

JaeLz I’m an independent singer/rapper and songwriter. My Artist name is JaeLz. This article is about my Journey and how...

Trending

Copyright © 2020 Disrupt ™ Magazine - Disrupt is a Minority Owned Privately Held Company

Disrupt ™ is the voice of Latino entrepreneurs around the world. We are part of a global movement to increase diversity in the technology industry and we are focused on using entrepreneurship to grow new economies in underserved communities around the world. We enable millennials to become what they want to become in life by learning new skills and leveraging the power of the digital economy. We are living proof that all you need to succeed in this new economy is a landing page and a dream. Disrupt tells the stories of the world top entrepreneurs, developers, creators, and digital marketers and help empower them to teach others the skills they used to grow their careers, chase their passions and create financial freedom for themselves, their families, and their lives, all while living out their true purpose. We recognize the fact that most young people are opting to skip college in exchange for entrepreneurship and real-life experience. This Podcast was designed to give them a taste of that.