TEI 167: Value Innovation in 10 steps for product managers

Global Product Management Talk is pleased to bring you the next episode of... The Everyday Innovator with host Chad McAllister, PhD. The podcast is all about helping people involved in innovation and managing products become more successful, grow their careers, and STANDOUT from their peers. About the Episode: The last interview, episode 166, was a panel discussion with innovators at companies using Value Innovation to discover what customers really want before building a product. The panel participants talked about a 10-step process they used. This discussion provides details for each step as well as where additional resources are found. To learn the 10 steps, I invited Dick Lee, the founder of Value Innovations and a long-time practitioner of the Value Innovation method, to talk with us. The 10 steps in Value Innovation are: Define project mission and objectives,Define value chain and identify the most important customer (MIC),Develop “as is” and “best in class” value curvesConduct contextual interviews to uncover unmet needsDevelop “to be” value curve,Review “to be ” value curve with the MIC,Modify “to be” value curve,Define value proposition,Determine how to deliver the “what,” andConfirm with MIC that the “how” is compelling