6 Steps to Make a Successful Product Guaranteed

Discover details of your customers' unmet needs.

You should develop a set of interview questions, meet with these suffering customers in the environment where they’re suffering, and listen to what they say when you ask them the questions. Through this listening, you must discover more details about the nature of their pain--and try to assess what kind of product would encourage them to become customers.

Develop hypotheses.

Using the observations of customer needs and your vision of the technology, you should make educated guesses about the most important product features likely to lead to wide customer adoption. Moreover, you should make a numeric estimate of the number of customers you thinks will use a prototype with those features.

Build a prototype solution.

The next step is to develop a quick and inexpensive prototype with those features. The first version is not likely to meet the customer’s unmet need but it should help you get a better understanding of what you need to do to close the gap between what the prototype can do, and what the ultimate product will need to be able to do in order to get the customer to buy it.

Test with customers.

You must then give the prototype to customers and observe how they use it. You should keep track of how many customers actually use the product, and ask them what they like and don’t like about the product. The general objective of this step is to learn and collect data that will either confirm or disconfirm the hypotheses developed earlier.

Analyze variance.

You should compare the expected outcome with the observed results. This comparison will generate insights that shape your strategic positioning.

Pick strategy.

Better-than-expected results are likely to confirm that you will gain market share if you turn the current version of the prototype into a product and market it aggressively. If the results are worse than expected, you must learn from what did not work and develop another prototype. And you should iterate and test until observed results exceed expectations, or until it becomes clear that it’s time to shut down the business.

Comments

TRAIN YOUR MIND TO BE CALM IN EVERY SITUATION

Great leaders always seem to remain calm, during situations that make mere mortals fall to pieces. Conventional wisdom says that the ability to remain calm is a character trait that most of us lack. Neuroscience, however, has recently revealed that remaining calm under pressure is not an inborn trait, but a skill that anybody can learn. Here's how it's done ⤵ ● [ Understand the biochemistry. ] The opposite of remaining calm is the state of "fight or flight," a physiological reaction that occurs in response to a perceived harmful event, attack, or threat to survival. The reaction starts when two segments of your brain called the amygdalae interpret a situation as a threat. This perception causes your brain to secrete hormones that tell your nervous system to prepare your body to take drastic action. Your breath gets short, your body floods your muscles with blood, your peripheral vision goes away, and so forth. Since neither fig...

7 Things to Do Before Starting Any Project

Gauge the scope of the project The scope of the project is the first thing that has to be ascertained. What is the overall aim of the project? What are you looking to achieve? Once you know what the scope of the project will be, a plan can be devised. However, you should be aware that the scope can change throughout the project as different stakeholders ask for more to be included in the final deliverable, so the system must remain flexible. Set the success criteria How is the success of the project going to be defined? By the quality of the finished work? By the amount of money it costs? By the length of time taken to complete it? Whatever the factors for success are, they must be measurable and aligned to the objectives of the key stakeholders – in this way, the Key Performance Indicators can be defined. Identify major risks Try and work out what the major risks to the project are before you begin. Where are the most likely points that things will go wro...

Some immortal lessons you can use from the Bhagavad Gita

1. Liberation does not mean that one should renounce the world. By performing one's worldly duties, one can attain true liberation. 2. Our soul is immortal. Even after our death, our soul lives, it just changes bodies. 3. One should not get caught in the web of desires. A desire sometimes triggers one to perform an unkind action, so it's best to witness the world dispassionately. Desires would simply come and go. 4. One has the right to work, but never to the fruits of work. One should never engage in action for the sake of reward, nor should one long for inaction. 5. When one's mind dwells on the objects of senses, fondness for them grows, from fondness comes desire, from desire anger. Anger leads to bewilderment, bewilderment to loss of memory of true self, and by that, intelligence is destroyed, and with the destruction of intelligence one perishes. 6. What belongs to you today, belonged to someone yesterday and will be someone else's tom...

Your guide and helper who help you to find the right path.

Search This Blog