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Showing posts from September, 2013

What Is Lean Startup? Here's What You Need to Know

You've probably heard a lot of buzz about "lean startups".  You may wonder if it's mere hype, applies just to tiny bootstrap ventures, or if adopting some lean startup methods might actually benefit your company. One of the top problems companies face as they make product decisions is that the process of learning the market, and learning what makes the product successful, is slow and unreliable . Sometimes they suffer analysis paralysis, swerve from one big deal to the next, allow conventional industry wisdom to stifle innovation, or squabble over uninformed personal opinions. In other cases, they make decisions quickly but fail to learn from their inevitable mistakes until after they've invested exorbitant amounts of time and money. If you find that your organization is facing this problem, it's worthwhile to consider lean startup methods. Just as scientists use the scientific method to learn how the universe works, your product team can apply

5 Ways Companies Make Product Decisions

In the last blog entry, we reviewed the  four problems that companies face, or are trying to overcome, as they make product decisions .  Now we'll look at the ways that most companies make their product decisions. Companies that develop, market, and sell products and solutions make strategic and ongoing tactical decisions.  They decide what features to include in their products, what messages they will use to communicate the value of their products, what marketing tactics they will use, what prospective customers they will target, and many day-to-day choices. Whether or not these decisions are deliberate or ad hoc, most companies use some combination of the following ways of making product decisions. (A downloadable "map" that summarizes the product decision landscape is included at the end of this article.) Customer Wants Product decisions based on feature requests, focus groups, and what prospects and customers say they want. Companies are selling products to