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A chat about finding and validating opportunities for products for a session at #IDEAchat, part of Global Entrepreneurship Week.
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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?
9
• 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
11
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
13
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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