Ten problems of product vision
We have found these ten problems of product vision to be universal:
- Our cash cow is running low on milk. Our product has been really successful but growth is starting to flatten.
- Our product is stagnating. Years of incrementalism has left us vulnerable to fast moving competitors.
- We are always in reactionary mode. Instead of driving towards a vision, we've been reacting to customer requests and competitive moves. It feels like we're winging it on each release.
- Our differentiation is shrinking. It's getting harder to explain to customers the difference between our product and the competition's.
- We are about to build a new product... but something just doesn't feel right. Is this really the best thing we could have come up with?
- We have a strategic challenge, and we are stuck with no good ideas. We know what we want, but we just can’t see how to achieve it.
- We have plenty of ideas. Generating ideas is not our problem; it's confidently choosing which one to pursue.
- We're about to spend millions acquiring or building a product... but is it even the right one to build? How can we be sure it won't turn out to be a dud two years from now?
- There is a new competitive or technological threat. Should we respond? Or is it a false alarm that we may safely ignore?
- We don't have the best track record for creating new products. Our process has been haphazard and there have been a lot of failures. We need a clear, strong process to follow.
With a good product vision:
- You can see what your existing product would look like if it were to be reinvented it now, with everything you have learned over the years. (Problems 1-5)
- You have the context for generating and judging ideas (Problems 6-9)
And with a good product vision process you have a thorough, rigorous, systematic approach to coming up with strong new ideas.
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