A Minimum Viable Product (MVP) is defined on Wikipedia as follows: “In product development, the minimum viable product is the product with the highest return on investment versus risk. It is the sweet spot between products without the required features that fail immediately when shipped and the products with too many features that cut return and increase risk. The term was coined and defined by Frank Robinson,and popularised by Steve Blank, and Eric Ries] It may also involve carrying out market analysis beforehand.” In short, it is a (often first) product with all fundamental features, from which to elaborate, and
Preparing for a presentation on the Business Model Canvas and Design Thinking for a major bank in Switzerland, I ran the slide-deck by a good friend and talented designer; Tom Djajadiningrat. His feedback was crisp and to the point; “Nice! Waar ik me druk om kan maken is als developers de value proposition uitsluitend zien als wat voor het bedrijf waarde creëert… en totaal vergeten om value te zien uit het perspectief van de gebruiker.” which translates into something like: ‘Nice! What worries me is when the developers see the value proposition only as something that creates value for the
Core to design thinking is prototyping & testing. If you browse around the web you find many aspects linked to design thinking, one more fancy than the other. But central to all; prototyping and testing. The reason is clear; designers think differently then the rest of us (let’s say the engineer). What differentiates a designer from an engineer is that an engineer creates a solution to a carefully analysed and understood problem, whereas a designer creates many solutions as a means to understand the problem. For a designer, a prototype is a hypothesis. Well, that is how I see it.
In the process of digitization and automation, it is easy to loose touch with your customers, especially if the ‘stuff’ you are dealing with is something as abstract as an exchange item; money. Restoring touch-points becomes main focus. Grocery stores went through the process of digitization and automation. Starting as small shops, they where used to serve each client in person, and would know their clients in person. Then, in the beginning of last century, long before digitization and big data, they went through the process of first introducing self service, and afterwards, with the introduction of digital tools, through
Pricing – or the street-value – often is still cost based, Apple being one of the rare examples of companies who understands that the cost of production is not related to the amount of money people are willing to spend. Cost is what you invest to create value. Sales-price is the value created in the eye of your customers). (production) Cost and (sales) price are not related. A few years back I had the privilege to work for a major fashion company at one of the product development sites, driving innovation and coordinating a small innovation team as a internal
Is innovating supported by a user-community, or the voice of the customer useful? Yes. Absolutely! Although, no. Well, maybe. It depends. Basically, as always, it depends on what what kind of innovation you are pursuing. In this post I try map my experience with community supported development/innovation on the well-known “Innovation Management Matrix“, to indicate in what situation you will make most out of the community. What is the Innovation Management Matrix? This is a marketing 1-to-1 on innovation management. Vertically, we plot extend in which the problem is defined (ranging from not, to well) and horizontally we plot how well the domain is defined (also
I am a great fan of the Strategyzer’s Value Proposition Canvas, and use it whenever and wherever I can. Often, naturally, in combination with the Business Model Canvas. Here is the problem. For the Business Model Canvas I re-created the 3D version slowly assembling the complete model. For presentation and explanation purposes. Compared to that, the Value Proposition Canvas looked a bit, well frankly, without depth. Flat. So, here you find an attempt to present the Value Proposition Canvas in a similar style as the Business Model Canvas. Either as individual images or as presentation (PDF document). Free to use. Enjoy.
Why do customers come back? What creates the stickiness of products or services? Why are Apps sticky? Why do customers continue to use certain service while abandoning others? How do you make something sticky? It seems to me that the service or product needs to be ‘of value to the person’. Ok, a no-brainer. I know. But why then, if this is a no-brainer, is it so difficult to create products that are of value to people? Maybe not a no-brainer after-all? In this post we introduce a template that helps to understand the aspects of the service that will , which
Digital technologies are forcing companies to transform. Digital transformation is not an easy topic and possibly disrupting the complete value chain of most businesses faster than we think. Brian Solis gives some insights in what to consider when taking on ‘Digital Transformation’. A key tool to manage this process is user journey mapping (see e.g. here, or see here for more basic information about user journey mapping). This is true for any transformation, but especially digital transformation because of the sheer amount of content flowing towards us through our digital devices and competing for our attention. Yes, there are the
Broadband, digitisation, digital transformation, big data, it has been a long process, mainly driven by technical innovation. Still. Back in the day, in 2001 working for The Fantastic Corporation, I wrote this Spoof article on digital fascination and how it is driving business descisions. Well, in all honesty, I did not know it then, my focus was on using the scientific method as a tool (which it just is), so the article was meant to illustrate how a fool with a tool remains a fool (you can freely exchange tool for ‘new technology’ or ‘technology focus’, or….). Anyhow, here it is.