How to Create Disruptive Products With Lean Product Discovery
This is just a way… of many!
Disruptive products are those that challenge the status quo, create new markets and/or completely change an industry. To create a disruptive product, it’s important to have a sharp vision, leadership, and a process that allows for agile-lean product discovery, which lets for quick iteration and testing of new ideas.
The Vision: A disruptive product needs a strong vision to guide it. This vision should be based on real customer needs and not on what the company wants to build. Too often, companies try to build products that they think will be successful, rather than starting with what the customers want. The best way to get started is by understanding the problem you’re trying to solve and then figuring out the best way to solve it.
The Leadership: It takes strong leadership to steer a team towards creating a disruptive product. This leadership needs to be able to stay focused on the vision while also being flexible enough to adapt as needed. They also need to be able to make quick decisions and take risks when necessary. Leaders play a vital role in Lean Product Discovery, as they are responsible for setting the direction and guiding the team. Without strong leadership, it is difficult to create disruptive products.
The Process: The process for creating a disruptive product should be based on agile-lean principles. This means that you should start with a small number of features and then add more as you get feedback from customers. You should also be able to adapt quickly as you learn more about what the customers want.
When it comes to creating successful products, Lean Product Discovery and agile development methodologies are key. Lean Product Discovery is all about developing a strong product vision and then experimenting to validate that vision. This approach helps to ensure that you are constantly learning and moving forward, rather than getting bogged down in the details.
Agile development, on the other hand, is all about working in short cycles to deliver value quickly. This approach helps to ensure that you are always making progress and that your product is always evolving.
Together, these two approaches can help you create disruptive products that are both successful and profitable. So, if you’re looking to create the next big thing, Lean Product Discovery and agile development are the way to go.
So, Let’s start with the basics
Lean Product Discovery is a technique people, teams, and enterprises, regardless of their size, can use to create a Minimum Viable Product (MVP) by eliminating any unnecessary features and focusing on the most important ones.
You can also call Lean product discovery as Lean innovation, which is a process of finding the best solution to a problem, without wasting time and resources. It includes sprint style prototyping that focuses on the MVP creation process.
Lean Product Discovery is a process that helps startups and product teams to find out what the customer needs, how they want it, and how they want to interact with it.
The process can be divided into four “way-to-go” phases: Understand, Ideate, Prototype and Validate. The first phase is about understanding the problem and figuring out what customers need. In this one it is important to understand the problem behind the problem, the root cause, what is its impact, to whom it impacts. The second phase is about brainstorming ideas for solutions to the problem. The third phase of this process is when you create a prototype of what you think will solve the problem and then test it with your target audience. And finally, the fourth phase is about validating whether your solution solves the customer’s problem or not by running a pilot test on real customers to measure their response to it.
If You have your own Startup, First Conduct a Reference Check Using a Lean Approach
This is an evaluation technique used to determine the suitability of a potential partner or vendor. It is often performed by a manager, salesperson, or business owner. This test can be conducted in person, over the phone, or through email correspondence.
The process varies depending on the type of partner that needs to be evaluated. For example, if you are evaluating your company’s credit card processor for compliance with industry standards and regulations (like PCI compliance), then you will want to conduct an in-person interview with your prospective vendor. If you are evaluating an advertising agency for its creative prowess and ability to meet deadlines, then you might want to have a phone call with them first before extending them an offer.
Don’t worry if you don’t work in a startup. This approach works well in almost every scenario.
You can Create a New Product Idea with a Minimum Viable Feature
The first step in creating a new product idea is to determine the problem. This is typically done by asking the question, “What problem does this product solve?” Next, you should come up with an answer for the question “What are the benefits of solving this problem?”
Next, create a list of features that will solve these problems and provide benefits. You can then prioritize this list of features and choose which ones to include in your minimum viable feature. Finally, you need to decide on a name for your product idea and write out an elevator pitch to describe it.
This sounds simple but it is not! The key here is to do it iteratively. Do it over and over until you find your voice. Experimentation is key in lean product discovery because it allows you to validate your hypotheses, learn from your mistakes, and constantly move forward. To experiment effectively, you must have a clear understanding of your goals. Once you’ve set those goals, you can start designing and running experiments. After you’ve done them, it’s important to analyze the results and determine what they mean for your product.
For example, you can use the S curve to evaluate your ideas.
You can Evaluate Ideas for Potential Disruptiveness with the S-Curve
The S-curve is a tool for understanding the growth of a new product. It helps to evaluate ideas for potential disruption. The S-curve is a logarithmic representation of the product’s growth, so it should not be used as an absolute measure of success.
The first phase starts with the introduction of the product, when it has just been launched or introduced to the market. This is followed by an early period of slow growth. The next phase is when the product reaches its peak and starts to decline, which can take a long time depending on how well the product was designed.
S-curve is a graphical representation that is used to visualize the progress of a product, or an industry, over time. It is associated with distinct phases of product development such as ideation, development, and innovation. S-curve helps organizations to understand where their product or industry is currently placed and predict the future of the same. S-curve is essential in lean product development as it aids in making informed decisions about the product idea, the timing of introduction of new features or products in the market, etc.
S-curve is also useful in measuring the progress of an industry or a product against its competitors. By understanding where a particular product or industry is placed on the S-curve, companies can make necessary changes in their strategies to remain ahead in the market competition. S-curve is thus a valuable tool for industries and organizations to evaluate their products and make necessary changes in their development process to ensure long term success.
You can Perform Competitive & Customer Analysis After Your Idea Is Born
Competitive analysis is a process of understanding the competition in the market. It helps you to understand the strengths and weaknesses of your competitors and how you can use them to your advantage. This type of analysis includes finding out about their pricing, product offerings, target audience, marketing strategies, etc.
Customer analysis is a process of understanding who your customers are and what they need from you. It helps you to understand their pain points and how they perceive your product or service.
What about the Minimum Viable Product (MVP)
The Minimum Viable Product, or MVP for short, is a product with just sufficient attributes to fulfill early customer’s needs. It’s often used as prototypes and testing ground for future products that might need more work before being released into production mode.
With the MVP you can assess your idea without investing too much time and energy into it. The hypothesis behind this approach is that if early customers enjoy what’s on offer then future features should become more friendly as well.
Let’s go over this one more time. An MVP is the first version of a product that you release to the public. It refers to the earliest form of a product that is still viable and provides some value to customers. It’s lean and only includes the most essential features to evaluate your idea in the market. An MVP can also be used to identify potential problems with your idea before investing time and money into building an entire product.
Conclusion and Recap of Key Ideas for Creating Disruptive Products with Lean Product Discovery
The key to success is to keep the customer in mind throughout the process and to constantly be testing and iterating. Lean Product Discovery is an essential tool for any team that wants to create products that people love. By focusing on the customer and using agile methods, teams can build better products faster and more efficiently.
The next step is to put all the ideas together and create a new product. The product should be assessed with potential customers, iterated, and then scaled.
The process of Lean Product Discovery can help you to create disruptive products that will grow your business. So, it’s time for you to stop guessing what people want and start experimenting with innovative ideas.