bug in the grass

Is It a Bug or a Feature?

That’s not a feature request, that’s a bug! Your support team thinks it’s a bug.  Your engineering team thinks it’s a feature request.  Who’s right? Well ultimately the customer, but the point is that this dialogue happens at a lot of product companies and it’s a symptom of a larger problem. This in-fighting happens due…

market risk empty office

Overcoming Market Risk for your Product Business

Whenever we are working on building a new product business there is always risk.  The two most common categories are technology risk and market risk. Technology risk refers to whether or not is it possible to build our solution.  Market risk depends on whether or not anyone wants to buy what we’ve built.   I’ve said…

KPIs discussed at a business meeting. Handshake ensues.

Defining and using your business’ KPIs

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…

pills painkiller vitamin

Vitamins won’t kill the pain

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.…

woman pulling money out of brown leather wallet

Product Management – Money Talks!

Most people are under the assumption that a product manager’s job is to manage a product.  In reality, their primary responsibility is to hone in on the customer’s needs. Regardless of how wonderful your product is, or how well-run your production and distribution departments are, if customers aren’t buying your product you don’t have a…

holding head in hands feeling like a failure

Three steps to avoid product failure

There’s a large body of research pointing to the fact that between 85 and 95% of products fail. While these numbers are disheartening, you could avoid becoming a statistic in the failure category. There are many factors that go into building a successful product company, but these three basic aspects to get right. Don’t put…