In today's digital economy, market success hinges on how effectively teams deploy software. Annual updates have become monthly, weekly, or even daily. Business leaders, especially non-technical ones, often ask: How do you balance creating a robust product with the need for quick market entry and revenue generation?
The key is understanding modern software development approaches that have transformed product launches.
In the past, traditional software development teams often focused on delivering a complete, predetermined product – like setting out to build a car with all its features from day one. Modern approaches, however, recognize that this "all-or-nothing" strategy carries significant risks: longer time to market, higher upfront costs, and most critically, the possibility of building something customers don't actually want.
Today's most successful software teams take a different approach. They start with a clear problem to solve for customers that aligns with their business objectives. They avoid defining a specific solution too early and build iteratively toward their vision. This shift mirrors lean manufacturing principles that evolved from large batch sizes to just-in-time production – delivering value incrementally rather than all at once.
One key to continuous delivery is the introduction of a cross-functional software team. Modern software teams bring together diverse cross-functional expertise to ensure both business and technical success:
Depending on your domain, cross-functional teams may also require participation from business, regulatory, content, or marketing specialists. These roles work together in short cycles, continuously validating assumptions and strategically pivoting their efforts based on technical learning and market feedback from customers and users. The best teams remain together over time so they can execute with great efficiency, communication, and high levels of trust.
At the heart of these modern software development methods is the concept of incremental value delivery. Consider Henrik Kniberg's famous illustration: Instead of building a car immediately, you might start with a skateboard, evolve to a scooter, then a bicycle, motorcycle, and finally a car. Each stage:
This iterative approach to software development offers several business advantages:
Flaherty & O'Hara, a leading liquor licensing firm serving nationwide hotel, restaurant, and retail clients, found their growth limited by off-the-shelf software tools. Starting in 2020, a Truefit cross-functional team developed a custom software solution that first improved internal workflow efficiency for renewals. Building on this success, the team launched a revenue-generating SaaS platform for customers. Driven by customer feedback, the team introduced tiered service options based on business volume and location-specific expertise. The platform's success has enabled F&O to increase software-generated revenues by over 20% per year and expand into new markets such as pharmacy licensing. The incremental, iterative approach to modern software development delivery has been a key driver of their success.
To successfully implement these modern software development approaches, executives should:
Modern software development is never truly "done." Successful organizations continuously evaluate customer behavior and market needs to improve experience, engagement, and value. While long-term vision remains important – you might still want to build that "car" eventually – the path to getting there should be flexible, iterative, and focused on delivering value at each step along the way.