Product Innovation: from an idea to a GO / NO GO decision
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Transcript of Product Innovation: from an idea to a GO / NO GO decision
![Page 1: Product Innovation: from an idea to a GO / NO GO decision](https://reader036.fdocuments.in/reader036/viewer/2022062823/5873bb061a28abbc788b5537/html5/thumbnails/1.jpg)
Product Innovation
From an Idea to a GO / NO GO decision
![Page 2: Product Innovation: from an idea to a GO / NO GO decision](https://reader036.fdocuments.in/reader036/viewer/2022062823/5873bb061a28abbc788b5537/html5/thumbnails/2.jpg)
What is the need?
Laser precision Focus
Verify the need
Invest all your energy on this step.
In god we trust, all the rest must bring DATA!
![Page 3: Product Innovation: from an idea to a GO / NO GO decision](https://reader036.fdocuments.in/reader036/viewer/2022062823/5873bb061a28abbc788b5537/html5/thumbnails/3.jpg)
The Solution?
● Elevator pitch Clarify the “HOW” in one sentence.
● Be clear and specific.
![Page 4: Product Innovation: from an idea to a GO / NO GO decision](https://reader036.fdocuments.in/reader036/viewer/2022062823/5873bb061a28abbc788b5537/html5/thumbnails/4.jpg)
User Story
● Who is your persona (specific end customer)?
● Ignore the market segment size (in this step)
● Visualize the “HOW”
![Page 5: Product Innovation: from an idea to a GO / NO GO decision](https://reader036.fdocuments.in/reader036/viewer/2022062823/5873bb061a28abbc788b5537/html5/thumbnails/5.jpg)
Competition Analysis
● Compare the high level features.
● Must have an “Edge” on the competition (differentiation) .
![Page 6: Product Innovation: from an idea to a GO / NO GO decision](https://reader036.fdocuments.in/reader036/viewer/2022062823/5873bb061a28abbc788b5537/html5/thumbnails/6.jpg)
Business Model?
● Assume the person in front of you know the numbers better than you.
● Choose your Business model wisely - hard to change later.
● Business model should correlate with the solution characteristics .
![Page 7: Product Innovation: from an idea to a GO / NO GO decision](https://reader036.fdocuments.in/reader036/viewer/2022062823/5873bb061a28abbc788b5537/html5/thumbnails/7.jpg)
Expected Challenges?
● You are not expected to solve everything on day 1.
![Page 8: Product Innovation: from an idea to a GO / NO GO decision](https://reader036.fdocuments.in/reader036/viewer/2022062823/5873bb061a28abbc788b5537/html5/thumbnails/8.jpg)
Your Vision?
● Give me a reason to invest in you.