Definition of product management How do you create successful products and new businesses ventures through effective use of product management? Let me start with asking the following questions: I’ve spoken with tens of people in multiple industries and have determined that there isn’t a unanimous understanding of or answer to the these questions. I’ve seen...
If you’re a product innovator or a marketer, especially in a new space, you need to have a passionate and sustained obsession with researching and understanding your target users. Why and when do we need quantitative research When you begin to validate your opportunity hypothesis, getting to know your users’ needs (including the latent ones),...
95% of 30,000 consumer products launched each year fail. https://hbswk.hbs.edu/item/clay-christensens-milkshake-marketing Let’s imagine you have an idea for a new product or service innovation. If you want to give yourself the best show at succeeding, you MUST “front load” on the opportunity and problem analysis effort as much as possible. Here are some steps you must...
Elon Musk founded SpaceX, but he had no prior experience in building rockets. Neither did he come from the auto industry when he started Tesla. But he ended up creating two of the most exciting product companies of the modern world. Your reasons for choosing a new industry could be any of the following. Perhaps...
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