Below are my thoughts on effective product innovation, helping you to turn your innovative ideas into reality.
Should I pivot my startup?
Sometimes when we are stuck, and we are struggling to find the next step, a pivot seems the only way forward. It does however come at a high cost, abandoning all your previous investments, which include time, money, and knowledge. Consider this before you make your decision.
Minimum Viable Problem
I came across the phrase Minimum Viable Problem recently and I immediately took to it. The simple reason is that it emphasizes that we should focus on building solutions to the most pressing problems, not building features we believe our users want.
The benefits of knowing the difference between a Customer and a User
Would your product benefit from knowing the difference between a Customer and a User? Understanding this distinction could be the difference between product success and failure.
Why on earth did I call it ‘Competitive Alternatives’?
I mean, it is a mouthful. Would it not have made more sense to just use ‘Competition’ or ‘Competitors’? There is a very good reason behind it though.
Prove your Competitive Alternative Assumption
Don’t be disheartened if you discover competitors, in fact you should expect it. It is a great opportunity to innovate further and differentiate your product even more.
Expect to see major disruption in the next 3-5 years
In the current economic climate, the seeds that are being sown today will result in major disruption in the coming years.
The Innovation Ambition Matrix
This is the Innovation Ambition Matrix I wrote about in my last post, with real world examples for each of the three initiatives.
Defend yourself with Transformational Product Innovation
Every product will eventually reach a plateau and start to decline. If your company only offers one Core product, this decline can severely impact your business. So how do you ensure your business continues to grow, despite this?
Product Growth with Iterative Innovation
How do the likes of TikTok, Instagram and Snapchat continue to grow and remain relevant to their audiences?
The Salt Test is now available as an eBook.
The Salt Test is a practical guide to help product managers and entrepreneurs take their products from idea to rapid mass adoption.
Unique attributes are key to successful product innovation
As you move through the Product Phase Map, from the Problem phase through to the Solution phase, pay particular attention to your unique attributes. These will be key to successful product innovation.
Putting the Pirate Metrics into practice
Following my post last week, I thought it may be beneficial to dig a bit deeper into how I am using the funnel to test my marketing efforts with the Salt Test using Amazon Advertising.
Using the AAARRR Pirate Metrics to measure the success of your campaigns
In my most recent post, I examined how you can use the Bullseye Framework to identify your most promising marketing channels. In this post, I discuss how to use the AAARRR Pirate Metrics to identify whether those channels were indeed a success.
Plan your Go-to-Market with the Bullseye Framework
Planning your Go-to-Market strategy right from the beginning using the Product Phase Map is critical. It will help guide the direction of your product, even before you start to build it. The model I like to use for this is the Bullseye Framework.
Product management skills mapping
Product management is a relatively new field and it is changing rapidly. As such, it can be hard to define what it takes to be a high performing product manager or leader. Here is a model that will help with this.
Solving a future problem
If you want to solve a problem that doesn't yet exist, then you are going to need deep pockets and lots of patience and persistence. This type of technology is commonly known as ‘bleeding edge’.
Finding your target audience to have problem assumption conversations
I have recently spoken a lot about engaging with your target audience to prove your assumption that the problem you are trying to solve does exist. I haven’t however given any advice on how to find and engage with your target market. In this article I have listed 5 approaches that could work for you.
Lessons learnt from Parkrun
When I first heard about Parkrun, I didn’t get it. That was over 15 years ago, when it was still just in one venue. It now boasts over 8 million runners across 22 countries. Here is the lesson I learnt, and how it may apply to you…
How to prove your problem assumption
I recently wrote about the importance of ensuring your solution solves a genuine problem, but I didn’t explain how to actually test whether this is the case. So how do you test if your target market genuinely has the problem you think they have?
Avoid the Assumption Trap with the Product Phase Map
When assumptions are treated as facts, without empirical evidence to back them up, it is called the Assumption Trap. This is a major reason why innovative products often fail.