Bain Public

Showing all posts tagged "Problem" ...

Discipline In Product: Know How To Identify Problems and Ship Solutions

Today’s most valuable companies, like Facebook, Amazon, Netflix and Google, are product-led and customer-driven. They owe their success to a unified product vision that is informed by feedback from customers, prospects, and colleagues. These companies ship products that satisfy REAL customer needs built on REAL data inputs and feedback, NOT opinions or assumptions. This is very different from a project-led approach, which is primarily based on the outputs -- which is the actual product being built. A project-focused approach is often more expensive and less successful. Product-led approach...

Appeal to the nobler motive

A business usually has two reasons for doing a thing: one that sounds good and a real one. The product manager will think of the real reason. Their job is about finding monetizable market opportunities. Business results matter and acquiring new customers and increasing average revenue per user is part of the monetization equation. But all of us, being idealists at heart, like to think of motives that sound good. So, in order to make it sound appealing, we talk in terms of what customers want. There is an approach called "working backwards" that is widely used at Amazon. Work backwards fro...