How to create a successful product, according to LaFinteca CEO Dmytro Rukin

In today’s dynamic and competitive world, the quest to create successful products is a desire for many. Entrepreneurs, startups, and consultancies invest time, resources, and ideas in hopes of reaching the pinnacle of the market. But what is the magic formula that transforms a simple idea into a victorious product? Is the statement “to create a successful product, just create the product” really the key to success?

Creating the product is just the first step in a complex and challenging journey. Success depends on a combination of factors, from deep market understanding to impeccable execution and effective communication. It takes passion, persistence, and an open mind to learn and adapt to the constant market changes.

Dmytro Rukin, CEO of LaFinteca, has been fascinated by the world of numbers since a young age. Mathematics captivated him with its precise logic and promise of concrete solutions to complex problems. This passion led him to a promising career in finance, where he rose through the ranks with his analytical acumen and money-handling skills.

However, over the years, he realised that his passion for mathematics was not enough. He yearned for something that would combine his analytical mind with the emotion of creation and technological innovation.

Thus, the idea of LaFinteca was born, conceived as something “neo”: new, strong, technological, and constantly evolving. Dmytro assembled a talented and dedicated team to revolutionize the world of payments in Latin America.

Today, as an experienced CEO, he points out the pillars that support a good product:

Understand the market:

The journey begins with a deep dive into the market. Mapping the needs, desires, and frustrations of the target audience is essential. What problems do they face? What existing solutions are there? What niche will the product fill? Answering these questions is crucial to building a product that truly adds value for consumers.

Innovate and be different:

In a sea of similar products, innovation is the life raft. The product needs to offer something unique, something that sets it apart from the competition and piques the interest of the public. Whether it’s innovative technology, distinctive design, or exceptional user experience, innovation is what makes the product memorable and desirable. At LaFinteca, Dmytro decided to use innovative technologies such as artificial intelligence and data analysis to offer more efficient and personalized payment solutions. The result is that the company has expanded its presence to several countries in the region, including Brazil, Peru, Mexico, Argentina, and Chile.

Execute:

A brilliant idea is just the beginning. The real magic happens in execution. Turning vision into reality requires meticulous planning, efficient resource management, and a talented and dedicated team. Each step of the development process, from prototyping to launch, needs to be carefully executed to ensure the quality and seamless operation of the product. LaFinteca’s culture, described by Dmytro as a combination of “choose yourself and create,” reflects the founder’s personality. He believes that innovation and success arise from individual freedom and collaboration among talented and passionate people.

Testing and refinement:

The process of creating a successful product is marked by rigorous testing and continuous refinement. Collecting feedback from the public, identifying flaws, and implementing improvements are essential actions to ensure that the product meets consumer expectations and maximizes its chances of success. Dmytro recalls that, due to testing and refinements, his technical team at LaFinteca, recognized for its integration expertise, earned the admiration of customers, who were impressed by the speed and quality of the services provided.

Marketing and communication:

The product is ready, but the battle is not over yet. To achieve success, it is necessary to effectively communicate its value to the target audience. A well-defined marketing strategy, using the right channels and language, is key to generating interest, attracting customers, and boosting sales.

Adaptability and evolution:

The market is dynamic, and consumer needs constantly change. A successful product needs to be adaptable, capable of adjusting to new trends, cultures, and audience demands. Continuous evolution, constant enhancements, and the pursuit of innovation are essential to ensure the product’s longevity and relevance in the market.