A chat about finding and validating opportunities for products
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Transcript of A chat about finding and validating opportunities for products
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Innovation in product development:A chat about finding and validating
opportunities for products
Prepared by: James TorioOct 22, 2013
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A couple of ways to
generate ideas for products
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Customer
Driven
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Technology Driven
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Observe the customers journey for
opportunities to innovate
https://uxmag.com/articles/experience-maps-identify-inefficiencies-and-opportunities
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"Take a human desire, preferably one
that has been around for a really long
time . . . identify that desire and use
modern technology to take out steps.”
EV WILLIAMS, COFOUNDER OF BLOGGER, TWITTER, AND MEDIUM.
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Thoughts?
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A couple of ways to test
your ideas
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Opportunity Assessments – Do I have a problem worth solving?
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• Who are we solving the problem for? (target market)
• What problem are we solving? (top 3 problems)
• What alternatives are out there (competitive landscape)
• What is our value proposition? (why are you different and worth paying attention to?)
• What factors are critical to success? (solution requirements)
• How will we measure success? (business metrics)
• How big is the opportunity? (market size)
• Why now? (market window)
• How will we launch this product? (go to market strategy)
• Why are we best suited to pursue this? (our differentiator)
• What are the revenue streams? ()
• What is the cost structure? ()
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Thoughts?
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Hypotheses Test Build Measure
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Pivot
Pivot
Test
Hypotheses Driven
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Learn as quickly as possible, As often as possible,
For as cheaply as possible
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Speed = More iterations = More learning
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Test without building a product
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Minimal viable product : for people to want to
use it
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Thoughts?
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Thank you