You have an idea for a new product that you want to take to market, but need help in fine-tuning the idea and creating a crisp vision with a view of the market opportunity. To do this we work together to create an understanding of the problems being solved, whom they are being solved for and the steps to take to validate critical assumptions in the business model and in the product itself.
From the market analysis we will dive deeper into the metrics and financial drivers of the business model to develop a comprehensive business case for the product opportunity. Top down market sizing will look at characterizing the size of the target market for the product and performing a sensitivity analysis on the revenue model. This will identify critical market segments that will drive quicker time to revenue in the early stages of the business by developing a return on investment model for each identified segment in the market.
Based on the ideal solution defined in the market analysis we will then decompose the features into a product strategy for development. Based on principles of Lean Startup we will develop a product strategy of iterative Minimum Viable Products (MVP) that will reduce risk by validating key assumptions as cost effectively as possible before subsequent investments are made. Each MVP will have metrics associated with them that will objectively prove out an assumption. Based on the learning and measurement from an MVP, an assessment can then be made if we are on the right track with the product strategy or if we need to fine tune the approach or change direction to better align the product to support the identified business opportunity.
The result with be a product strategy that includes a product roadmap that can be detailed into requirements, specifications in order to develop estimates and delivery time frames in Product Planning.