Until now, I had always thought of product discovery as a very complex topic in product management.
However, I recently discovered how simple it can be when learned through a practical approach from a great teacher who is an expert in this field. Thanks to Stefano Rinaldi for this eye-opening experience!
Had a great learning experience about Product Discovery and how to do product discovery in a highly detailed way from you Stefano Rinaldi in the live course on Maven!
One of the many major lessons I learned about product discovery that I want to share from my learning journey is:
Product Discovery is a 3 phase product development process that enables product managers and firms to clearly separate the “problem space” from the “solution space”, enabling a major focus on the customer needs
1) Problem Definition (WHY)
- Does this problem exist?
- Is the problem worth solving?
- Would solving the problem create a positive impact on the customers and firm?
2) Solution Design (WHAT)
- What product/feature could fit the customer's problem?
- How should a product be technically built?
- What KPIs should we improve?
3) Execution (HOW)
- How long it will take us to build the product?
- How can we build it?
- How and when will we test it?
- How can we monitor KPIs?
There are tons of more learnings which I would be sharing in the upcoming days.
Also anyone of you who want to deep dive into product discovery and more advanced topics of product management, I highly recommend this course powered by Maven
#productmanagement #productdevelopment #productdiscovery
Product Discovery for Physical Products
I have been working now for more than 4 years in the electronics Industry and out of that 1 year as a product manager in a semiconductor industry. In my previous job, I used to work on OEM solutions or products for customers. Thus, the product discovery there was highly customer or R&D driven.
But coming to the semiconductor industry where the customer is an OEM manufacturer, and we are component supplier it takes a totally different approach. R&D or PM can come up with a product idea but unless the application for that idea is known its hard to penetrate the market.
In addition to this, now there is a strategic move where OEM customers must have multiple suppliers to not stuck in the supply chain issue that the world faced during the COVID crisis. This makes it even harder to have a unique product without competition in the market.
Of course, one can be the early adopter and then must make sure that market follows the trend. This happened when Wolf speed first introduced the 900V SiC MOSFET for On- Board charger. The technology itself had its unique advantages that others had to follow this path.
My approach to Product Discovery is;
1. Customer Interactions: talk to engineers and ask compelling questions to get a grasp of their requirements. Ask questions to understand their development roadmap. Is it also where others in that industry are heading? Try to gather information on competitive offerings.
2. Attending exhibitions: Attend industry specific exhibitions and talk to people there to identify trends in the industry. In 2022, when I visited the Battery Show Europe, I was convinced that the trend is to go for 1000V plus BMS.
3. Divisions inside your company: Especially at a big company with multiple products/divisions, try to reach out to responsible person from other divisions and understand if they see a particular application/trend/demand in the industry.
4. Competitive Analysis: Regularly review competitor products to understand what they are bringing into the market.
5. Extensive reading in magazines, websites, etc. to keep yourself updated.
I also undertook a very interesting course on Product Discovery- the methods learnt I already started using. The course is offered by Stefano Rinaldi.
https://lnkd.in/eMqJ3mWN
What is your approach towards Product discovery for physical products?
#semiconductorindustry #productmarketing #productmanagement #development
𝑷𝒓𝒂𝒄𝒕𝒊𝒄𝒂𝒍 𝑷𝒓𝒐𝒅𝒖𝒄𝒕 𝑫𝒊𝒔𝒄𝒐𝒗𝒆𝒓𝒚 𝒇𝒐𝒓 𝒔𝒐𝒍𝒗𝒊𝒏𝒈 𝒚𝒐𝒖𝒓 𝒄𝒖𝒔𝒕𝒐𝒎𝒆𝒓 𝒑𝒓𝒐𝒃𝒍𝒆𝒎𝒔
A few weeks ago, I came across a LinkedIn post discussing the amount of money someone had invested in online and offline learning programs after graduation. This piqued my curiosity, so I did a quick calculation for myself and found that I had spent over $10,000.
While most of the courses I took were average, Stefano Rinaldi's Practical Product Discovery course stood out among the rest. It's a practical course that I completed in a weekend, and within a week, I was able to apply what I learned to my assigned project.
I highly recommend this course for mid-level or senior Product Managers interested in Product Discovery. You can check it out at: https://maven.com/stefano-rinaldi/productdiscoveryforpms
I recently attended the Product Discovery for Product Managers course by Stefano Rinaldi and I highly recommend it to anyone who wants to learn more about this important topic.
The course is well-organized, interactive, and engaging. Stefano covers all of the essential aspects of product discovery along with plenty of practical advice to level-up your product discovery process.
I would definitely recommend this course to anyone who wants to improve their product management skills.
https://lnkd.in/dKxPYKFX
As you know, Product Discovery is one of my favorite topics, thus I was of course not missing out on Stefano's course last weekend! I really enjoyed the course filled with a lot of practical knowledge and real life examples that Stefano collected over the years.
What are my key learnings?
- Don't overthink, do it, start with what you can do best
- work backwards. ALWAYS start with your customer in mind
- It's always a balance of time invested vs amount of insights you get ; choose your methods accordingly
- documenting it is key
- make it a habit and enjoy the process!
Thanks Stefano for this fun course and of course I will take those learnings into my own cohort!
For everyone who missed it this time, Stefano will launch another cohort in June! Check it out, highly recommended.
https://lnkd.in/eaCPHetx