Product Development – what to measure and when?
This is a follow-on from an earlier blog post in our Product Development series.
Adopting modern methodologies with an emphasis on continuous customer feedback and experimentation during product development helps us avoid the rabbit hole of building something no one wants.
When we engage in experimentation – either as a start-up or as part of ongoing innovation and continuous improvement – it’s essential to know what learnings to target to maximise our experimentation.
What is experimentation again?
As discussed in the “Lean experiments for day to day problems” blog, experimentation starts with an idea.
Ideas are usually founded on one or more hypotheses – assumptions that are a tad firmer than pure guesses, but are not yet proven as fact(s).
Careful consideration must be given to choose those hypotheses that must be tested as a priority, so experimentation may commence quickly.
Ideas in the start-up arena usually strive to build a sustainable business around the idea. Simply put, we want to make money (and keep on making money) from our idea.
Our target customers are faced with a problem and typically go through a journey of value discovery when looking for a solution.
As we iterate through our cycle of experimentation, we require focus and clarity on what validated learning we’re targeting.
So what should we measure and when?
The table below lists only a few examples of validated learning to target, depending on the key focus of the experiment that will be undertaken:
Do you have a great idea and need help with experimentation? Want to talk to someone with proven experience in helping customers successfully transform ideas into products?
Satalyst can help
At Satalyst we can talk about business outcomes rather than just technology and buzz words.
Please contact us to discuss how we can help successfully take your product idea to market within your budget and time constraints.
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