Is The Project Worth Pursuing?

What are the criteria to select research and development projects?

What are your criteria for deciding that an idea is worth pursuing? We all have our own set of selection criteria, the first of which is usually looking for profits. However, selecting a course of action based solely on ROI can be limiting. If you are doing something really innovative, how on earth can you […]

Pursuing

Extract Value from Old Assets

Can I recombine existing components to create new products for customers I don’t currently serve?

Magazine publishers are in the same predicament as the book-publishing and recording industries before it. How do you keep your customers believing that your content is worth paying for when there is endless free content available on the Internet? Some fashion magazines are experimenting with making their print issues feel like “must-buy” items; Bazaar and […]

extract value

The Promise of Online Dating

What new distribution channels need to be created to reach customers?

Are you in a serious relationship or married? If so, how did you meet your spouse or partner? I work with a lot of young single people and most, if not all, of them have tried online dating. Some of them are young enough that the idea of not using online dating sites is incomprehensible. […]

online dating

Is it foolish to continue an obsolete product?

What features of my product create unanticipated passion?

What would you have to do to make your company, and its product, so essential to your customer that they would refuse to let your business die? Imagine that kind of passion for what you do. Imagine a customer base so emotionally invested in the unique characteristics and qualities of your particular brand that they […]

obsolete product

Forget the obvious solution

Could I create a standardized offering of a custom product?

One of the first products I created as a software developer was a touch-typing program called Typing Instructor. This was back in 1985, and at that time there was no such thing as a standard PC. Instead you owned a specific brand and had access to the programs that had been written specifically for that make, […]

obvious solution

The Benefit of Being Strategically Disliked

Who will not buy my product because they feel something is objectionable about it?

The flipside to any positive emotional connotation or connection is a negative one. If you are inspiring enough such that some people love what you are doing, odds are you are going to be inspiring others to dislike your product with an equal passion. Plenty of companies trade on the fact that they represent something […]

being strategically disliked

Products that make customers say, “I did this!”

Can I create an on-demand version of the product?

Do you need to have a finished product in order to make a sale? Is there any way that not offering a finished product would actually give you an advantage, or even become a selling point? Suppose that your manufacturing costs appear to have gotten as low as they can without sacrificing quality. Even if […]

products

Know that your customers’ needs will change

What will future customers’ buying criteria be?

A big part of my business is being aware of, and responding to, the life cycles of my industry and my customers. Some of these are easy to see; you only need a cursory understanding of the effect of OPEC on gas prices in the early ’70s to understand why cars became more fuel efficient […]

needs

Being on board with social evolutions

How will you identify and locate customers in five years?

Every hot trend reaches a point I like to call the “Uncle Larry moment.” You know what I mean. It’s the juncture where one of your older relatives announces he’s taken up something that had seemed cutting edge, futuristic, and exciting up till that second. Facebook and Twitter have long passed the Uncle Larry moment. […]

social evolutions

In-house or Outsource as Needed?

Where do we perform product research and development? Where else could this be done?

What is your organization’s philosophy about design and development? Do you keep everything in-house, or do you outsource as needed? There are two schools of thoughts on this. By keeping the design process in-house, a company can build a sense of continuity and cohesion that links the entire family of products together in a satisfying […]

outsource as needed