Product Innovation: from an idea to a GO / NO GO decision
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Product Innovation From an Idea to a GO / NO GO decision
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Transcript of Product Innovation: from an idea to a GO / NO GO decision
Product Innovation
From an Idea to a GO / NO GO decision
What is the need?
Laser precision Focus
Verify the need
Invest all your energy on this step.
In god we trust, all the rest must bring DATA!
The Solution?
● Elevator pitch Clarify the “HOW” in one sentence.
● Be clear and specific.
User Story
● Who is your persona (specific end customer)?
● Ignore the market segment size (in this step)
● Visualize the “HOW”
Competition Analysis
● Compare the high level features.
● Must have an “Edge” on the competition (differentiation) .
Business Model?
● Assume the person in front of you know the numbers better than you.
● Choose your Business model wisely - hard to change later.
● Business model should correlate with the solution characteristics .
Expected Challenges?
● You are not expected to solve everything on day 1.
Your Vision?
● Give me a reason to invest in you.
