Eating the Elephant in 50 Bites: Part-1

PRODUCT OR SERVICE DEVELOPMENT

Every project begins with an idea and the task of the leader is to manifest this idea into reality. Every project is elephantine in size and complexity and the task of every leader is to break it down into digestible bites. Those who do this successfully become the leaders, the champions, the lions of the jungle.

  1. Have an idea for a product or service.

  • Not all ideas need to live. Not all ideas are great. Ask yourself is this idea great becauseit is clever, or does it make someone’s life(other than mine) better.
  • Only those ideas will live that serve a real need and the greater the need that is served,the more likely that the idea will become real.

2. Develop your product/service.

  • An idea is like a wisp of air... like a breath. Without a framework it will vanish like uncontained smoke. You need to build the architecture around the idea.
  • Who does this idea serve?
  • What does it serve?
  • Why does it serve?
  • How does it serve?

These foundational questions will give you clues to the building materials and the architecture of the skeleton, flesh bones and body of your idea.

3. Research your markets.

  • It is essential to know what your market wants.
  • Never assume you are the only one with this idea
  • Make sure you know who else is serving the same market
  • Identify what makes them good. Where do they beat you? That is more important than where you beat them.
  • Who/what does your product/service challenge? How disruptive are you?
  • The greater the disruption... the greater the magnitude of opposition and the greater the need for strategic partnerships with major stakeholders, secrecy in execution and the need to make sure you build validating trustworthy relationships.

4. Define what needs you meet.

  • Why would anyone want what you offer?
  • Always focus on the needs that you meet.
  • How big are they.
  • Are they immediate? Will they make people to stop whatever they are doing to getting that need fulfilled?

5. Define what you need to meet them

  • What do you need to have to meet this need?
  • What is the credibility behind the champions of the product/service?
  • What is the skillset of your team?
  • Do you have all the elements needed to meet the need? If you don’t have them now, when will you get them? Where will you get them from?

Part 2: Tell Your Story

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