Do you approach your venture like a product or a service? Regardless of what it actually is, you will want consider approaching it as a service every time for the best user experience.. and I am going to tell you why.
Product vs. Service
When developing a venture like a product, you often approach it from a feature list perspective which causes bloat and takes away from your core goals of the venture. For instance, if you want people to shop on your website you want to make sure that any feature added to the site is something that helps your visitors shop and share. This is how a service works, where as a product often times is seen as a “this feature would be cool” instead of “how will this feature help us achieve our primary goals?”
Completing a loop
Another problem with products is that they are typically one way transaction. The customer purchases/consumes the product and that is where the story ends without many opportunities for your customers to spread the visibility. With service based philosophy you think more about a rolling relationship between you and the customer that gives your venture an opportunity to continue the story beyond the initial point of contact. With present day social graphs (Facebook, Twitter, LinkedIn, Namesake etc) there are so many opportunities for ventures story to wander into new circles of influence.
How is your venture being treated like a service? Where are your pain points?