Market researchers have been using focus groups as a tool for over 60 years. While they can be useful in some instances, the epic failures of some products can be directly attributable to information gained through focus groups. The most famous product launch disaster is still – even after almost 35 years – the introduction…
Pivot is a frightening word in my line of work and from at least one angle it’s easy to understand why. Building a software product business is not just hard it can be incredibly expensive. It can cost a tremendous amount of time, money, energy, etc. This is why when the topic comes up, founders…
The misconception in product management is that fierce competition or one with seemingly high barriers to entry cannot be disrupted. This is a myth and we’re going to talk about the product company DuckDuckGo to prove it. For those that don’t know, DuckDuckGo is a search engine, just like Google. However, unlike Google, DuckDuckGo doesn’t…
Every business owner has goals for their company. Defining and quantifying goals for your business can be the difference between success and failure. Before you act, the best approach to create and adhere to objectives is by having KPIs. What are KPIs? A Key Performance Indicator is a measurable value that indicates how well a…
A value proposition is a statement that explains how your product solves problems. These problems affect a specific market and user. Your solution (your product) needs to be uniquely differentiated in this market. This is why we’re always talking about your product solving an obvious unmet need. What’s lesser known by those looking to achieve…
With over 32% of Americans listening to podcasts on a regular monthly basis, it’s clear that podcasting is here to stay. But while there are many options available for podcast production, most are cumbersome, hard to use, and the sound quality leaves a lot to be desired. Since there are so many options out there,…
Every entrepreneur has a dream of launching their product to a hungry market of millions that are ready to take out their wallets to buy. It is only a dream, because the reality is generally much different. Innovation spreads into the market in a systematic way, and it’s important for marketers to understand this process…
If you are approaching product development correctly, you are first trying to find a market with an obvious unmet need. After that determination you are better equipped to design the product that fills that need. The greater the need, and the more your product satisfies it, the more successful your product is likely to be.…
If you’ve ever tried to organize a family reunion, you already know that one of the hardest tasks is to get participants to agree on a date. People may be coming to the event from afar, which means they’re taking into consideration various factors such as transportation and housing. And these days, people lead such…
It’s very likely that you started your company with merely an idea for a new product and perhaps a partner or two. If you bootstrapped at the beginning, you no doubt worked long, hard hours doing everything that you could by yourself. At some point, however, you will need help. It could be when you…