Every product has competition. Depending on your industry the field may be crowded and full of competition or dominated by only a few major players. Regardless, it is important to have a thorough understanding of your competition. Your competitors shape the landscape for your industry. Understanding the competition will help you identify opportunities and better…
Customer interviews are critical to product success. In fact, following the lean product development methodology (as outlined in Running Lean), there are several different types of customer interviews to be conducted during different phases of your project. With so much potential value coming from one source, it’s important to optimize this process as much as…
Value-based pricing is defined by wikipedia as pricing set “primarily, but not exclusively according to the perceived or estimated value of a product or service”. What this means to potential clients is that you’ll be paying a fixed price to buy that product or service instead of paying your consultant an hourly rate. Much of…
If you’re building or managing a software product you need a product manager. If your project isn’t quite ready for a dedicated product manager then whatever your current teams consists of needs to have certain skills to make your product successful. Whether you’re looking for a product manager to join your team or just hoping…
Everyone understands that the main purpose of a sales team is to sell your product. Few understand just how important your sales team is to successful product development. When we think product development, the positions that come to mind include UI/UX designers, software developers, and quality assurance personnel, among others. However, the team that should…
Whenever we’re deciding to go somewhere it’s always helpful to have a map. I find it easy to take for granted the convenience afforded to us through technology. If I’m driving somewhere and know where I’m going I’ll enter my destination address into google maps just in case there is any trouble on my route.…
Lean product development has origins rooted in manufacturing. Principles and practices refined overtime within the manufacturing industry have been repurposed for methods of developing digital products. The most basic description of lean development is a methodology focused on reducing waste. Waste can be in the form of something physical (think manufacturing) or virtual (unnecessary software…
I’m sure by now you’ve heard of the increasingly popular cryptocurrency bitcoin. Possibly in your travels throughout the internet you’ve also heard the term blockchain. There is a reason why blockchain and blockchain technology is often mentioned when people are talking about cryptocurrency (such as bitcoin). Blockchain technology is what has enabled the functionality of…
We are all well aware of Human Resources (HR), but what might be less familiar is a term that has been popping up everywhere – HR Tech. HR Tech is a term used to describe the technology revolution as it applies to the HR industry. The Society for Human Resources Management (SHRM) predicted several trends…
Let’s say you want some help building your product and business. You’ve even gone as far to identify that you are looking for help related to product management. What you need to know now is exactly how much should you budget for to get the help that you need. Well there are several options when…