A chat about finding and validating opportunities for products

Innovation in product development:A chat about finding and validating

opportunities for products

Prepared by: James TorioOct 22, 2013

A couple of ways to

generate ideas for products

Customer

Driven

Technology Driven

Observe the customers journey for

opportunities to innovate

https://uxmag.com/articles/experience-maps-identify-inefficiencies-and-opportunities

"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.

Thoughts?

A couple of ways to test

your ideas

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? ()

Thoughts?

Hypotheses Test Build Measure

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Pivot

Pivot

Test

Hypotheses Driven

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

Thoughts?

Thank you