Next Killer Product
Where’s Yours?
New products are the lifeblood of high tech firms. Most experts say that sustainable growth can occur only when 30% or more of the revenue stream consistently comes from products introduced in the previous twenty-four months.
So, are you on track to place the next killer product into development?
How many product ideas did you consider before finding the one concept that will have customers beating down your door? Many companies lack the tools to develop a robust set of product ideas and the process to select the one killer product from among them.
Do you have the bandwidth and expertise to properly map the market and competitive landscape, enough to assure that a brilliant new concept yields a killer product? Can you continuously reflect market and competitive changes into the product roadmap?
BusinessLaunch as a Resource
The BusinessLaunch approach results in one or two killer products derived from dozens of valuable new product ideas while improving time-to-innovation. BusinessLaunch couples market insight and product domain expertise with a proven ideation process to yield an unprecedented number of product concepts. The deliverable is early introduction into development with an MRD and PRD built on the promising product concepts. BusinessLaunch adds bandwidth and facilitation skills to the firm’s product planning process, allowing truly innovative products to enter the development cycle in a compressed timeframe.
We facilitate the product ideation process, conduct market and competitive assessments, run focus groups, facilitate product strategy, develop the Market Requirements Document and Product Requirements Document, and assist with the interdepartmental transition into product development, all of which is tied to the client’s revenue objectives.
The Approach
A four-phase approach adds innovation and predictability into the product ideation and definition process:
- Over a 1 to 2 week period, conduct reviews of current product roadmaps and markets of opportunity, identifying areas of untapped market potential and/or solution gaps.
- Facilitate the process of product ideation, evaluation, selection, and market requirements definition that results in a formal Market Requirements Document.
- Develop the Product Requirements Document based on market research into specific product features and usability.
- Further improve time-to-market by a smooth transition into development, and (optionally) continuing involvement in the product management / product development process.
Learn how BusinessLaunch can help you identify that next killer product. We also offer a 30-minute consultation at no cost to qualified firms.
