In this engaging course, we will delve into the depths of your product strategy. Our first step will be to precisely define what your product entails. Through a series of thought-provoking questions, I will guide you towards a clear understanding of your product or service. This course will also provide you with innovative ideas on how to engage your customers or potential customers in the process, as their involvement is crucial to your success.
While many entrepreneurs solely focus on their core product or service, we will broaden your perspective to include what we refer to as the Whole Product - encompassing your entire solution.
Next, I will equip you with comprehensive knowledge on creating your Minimum Viable Product (MVP). This strategic approach is essential to avoid prolonged product development, unnecessary expenses, and the risk of creating something your customers do not desire. We strongly urge you to avoid such pitfalls.
Lastly, I will impart valuable insights on defending your entire product strategy. You may question the need for this, but if you aim to secure funding for your product or service idea, whether internally or from external investors, you must be capable of defending your offering against incoming competitors. This ability is a prerequisite for investors.
Refine Your Product or Service
Your product or service, although essential, is just one aspect of your overall offering. Your complete offering extends beyond the product or service itself and encompasses various additional features such as add-ons, upgrades, packaging, support, education and training, warranties, customer support, and other value-added services.
By addressing four crucial questions, you can establish a compelling product definition that appeals to investors, staff, and customers alike:
- Who is the target customer for my product?
- What are the benefits the customer derives from my entire product offering?
- Where can customers access my product?
- When will my product, along with upgrades or additional items, be available?
Explaining the Concept of Minimum Viable Product (MVP)
A crucial aspect of your product strategy involves determining your minimum viable product or service (referred to as MVP or MVS). This guide will take you through a step-by-step process to identify the essential qualities of your product or service that make up your MVP or MVS. By pinpointing the minimum offering that meets your customers' needs, you can position your business for a successful launch.
We'll examine a few companies and explore what their MVP looked like during their early stages.
Guidelines for Creating Your MVP
Don't miss out on this informative section where we provide a range of valuable guidelines to help you in your MVP development more easily.
Evaluating Your MVP
In this section, we offer strategies for evaluating your MVP to ensure its feasibility and garner investor support.
Understanding Entrepreneurial Personality Types
To gain a better understanding of how you should approach your product strategy and MVP, we have created an assessment that provides insights into your entrepreneurial personality type and how it may influence your product strategy.
Defending Your Product or Service Strategy
Ensuring the defendability of your product or service strategy is a crucial but often disregarded element of an entrepreneur's strategy. It is essential to address the common inquiry of investors: How do you prevent competitors from copying your approach?
In this guide, I will provide insights on strengthening the defensive aspects of your product or service. By bolstering your defense, you will gain increased confidence and preparedness to tackle competition in the business world.
This course is just one part of a comprehensive series on developing a successful product strategy. To delve deeper into the topic, consider watching the other courses in this series.
Who this course is for
- C-Suite Executives
- Product Managers
- I'm not graduate from economic bachelor and English is not my mother tongue. But this course and how Mr. Ken explained the content is really easy to understand for beginner like me. Thanks to Mr. Ken for answered all of my question with a fast and easy understandable answer! ~ Diantini S
- Perfect timing and the insights till now are those that I was exactly looking for.... Excited to learn more ~ Yogen P
- Such an amazing course. You'll be able to understand and create your own business plan and you'll get a lot of valuable advices ~ A Cerimagic
- Lot’s of info in this course. Ken really takes you from A to Z . Just what I needed for my business to take off. Thanks ~ Hugo M
- I'm new to the business world and have been looking for courses with practical guidance. This course definitely provides that and so much more ~ S Slawinski
- So far so good! A lot of challenges I'm facing in my work place Ken has highlighted the root course, which I was not expecting. He is clear, very engaging and breaks down the jargon. He is straight talking, right down to business attitude. I've just completed the first chapter and he's restoring a little faith in me so quite excited to keep learning (I know, I sound like a nerd) ~ Harrie T
- This course is the right match for me as I know some about business but believe in always improving. I also want to make sure I have a solid foundation for my business so I'm positioned right for the new year, and growth ~ E Jollymore
What you'll learn
- How to create a solid and robust product definition that will excite both customers and investors
- How to create not just your core product or service but your Whole Product strategy
- How to execute the MVP methodology so that you develop a product your customers really need
- How to defend your product against competitors