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Keep Calm and Define Your Product

Keep Calm and Define Your Product

In this article, I wanted to keep it very short and simple. Whether you are a lean startup or a mature business, having a clearly articulated product vision is key to success. The main items you need to address are your target customers, problem and their solutions, what differentiates you from others and more.

The following is a framework of sorts that I often use when I work with our clients to develop a product vision. It’s designed to be a one hour exercise you can go over and brainstorm with your team.

Try answering these questions with your own product team:

Who is your targeted audience?
Example: Individuals that want to start a new business and lack the experience to do so.

What are the substantial pain points you are trying to solve?
Example: There are many competitors out there and this can seem somewhat cumbersome for the potential customer in order to decide who can help him in a better way. Individuals that are starting their new business don’t know what to do next or how long a task should be worked on until completion.

What are the solutions we provide (one sentence or soundbite)?
Example: We are a company that provides the customers with all the information they need and assist them from beginning until they feel they are independent enough.

What are the most important benefits your business provide (vital few)?
Example: Easy, transparent work environment; Clear insights into what’s being worked on and what’s next; Real-time collaboration; A reliable business development company that will provide them with all the information that matters.

What are the main alternatives or competitors?
Example: There are many other online solutions as well as consultation services and providers.

Why is our solution better than alternatives or competitors?
Example: We provide simple consultation; Real-time updates; Current status and backlog are reported to the clients at all times; Iterations are planned and executed based on client’s specifications and market research machine.

Our product is better than other solutions such as and because.

You are more then welcome to leave your contact information in the comments bellow or visit our contact us section in the website in order for us to schedule a short call and discuss what is best for your business.

Elan Kol
Elan Kol

Elan has an unsurpassed level of knowledge in his field of expertise. If you need help with your growing business, we are here to provide business consulting services, coaching and business mentoring to support your business development. Elan is a strong strategic thinker with great eye for detail and is also both creative and innovative, which gives him the ability to deliver exceptional results for both client companies and owned or started ventures.

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