Day 17: Make a Budget

[Day 17/30: Product Manager to CEO 30 Day Challenge] We've got good news: you can build a product without knowing how to code. But before we get into that, let's talk about the other options.

There's a lot of different ways to build a product as a non-technical person. You could hire someone who knows how to code for you, but that can be expensive and overwhelming if you're not sure what you need or how it should work. Or you could try to learn how to code yourself, which is not only expensive but also time-consuming and difficult—especially if you're not already familiar with the basics of coding.

When you're trying to figure out how to plan development for a product, you want to take into account all the things that will make it easier for you to get the product on the market.

• Developers can work remotely when necessary

• You can hire a team that is proficient in your industry's language and tools

• You are able to play project manager, meaning you know how to manage a team of engineers and ensure they deliver to your requirements

This kind of planning means that you can have your product ready for release more quickly than if you were working with contractors who need constant supervision or who don't speak the same language as your team members.

If you choose to go this route, you will need to do some diligent budgeting. Typically you will need to have your entire product requirements for the product ready, clearly documented.

You will then take the spec to 2 or more contracting companies, dev shops or individual developers to assess their timelines and compensation. Make sure you shop and compare before deciding on one. Armed with the information, make a budget and ensure you are able to cover payroll for the duration of the project.