What is a Product?
A product is a solution to a common problem that can be taken to market. It can be tangible or intangible. It can be for something that satisfies a practical need or an emotional desire. At its core, it is a generalized solution to a common problem, that can be produced at scale
Creating a Product Vision
Similar to developing a product roadmap, the Product Vision is deceptively easy to understand. In its ideal form, it is a one-sentence statement about what your product is going to be in its future state, typically with a 3-5 year horizon, that everyone is working toward. Implicit in that, however, is a lot of research […]
Creating New Value
Why is it that some products take off while others fall flat? There are many tactical reasons we can point to such as timing, competition, or product-market fit. Fundamentally though, there is one consistent truth regardless of the reason we may determine: some products create value for the market they’re serving, and some simply do […]
Network Effects
Metcalfe’s Law states that the power of a network is proportional to the square of the number of users connected to that network. It was originally calculated in the 1980s by George Glider regarding telecommunications networks and later attributed to Robert Metcalfe. It has been referenced extensively for social networking sites during the web 2.0 […]
Timing is Everything
Timing is everything. You’ve likely heard this said many times before, but a clear explanation of why is rarely forthcoming. And, since timing is so important, how can you identify and take advantage of good timing? New opportunities typically arise because of new innovation that either inspires or enables others to enter a market. With […]
Tech Alone Is Not a Strategy
“As information technology’s power and ubiquity have grown, its strategic importance has diminished. The way you approach IT investment and management will need to change dramatically … It is difficult to imagine a more perfect commodity than a byte of data – endlessly and perfectly reproducible at virtually no cost.” ~ Nicholas Carr I was […]