20 Product: Marty Cagan on The Four Questions of Great Product Management, Product Lessons from Marc Andreessen, Ben Horowitz and eBay's Pierre Omidyar & The Difference Between Truly Great Product Teams and the Rest
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
A Successful Product Needs To Be Valuable, Usable, Feasible, and Viable
A successful product must address four key questions: Is it valuable? Can users figure out how to use it? Is it feasible to build? Can it sustain a business? These four elements - value, usability, feasibility, and viability - are the pillars of a successful product. The value question determines if people will buy or use the product. Usability focuses on the ease of use for customers. Feasibility considers the technology and resources required to build the solution. Viability examines the legality, affordability, and marketability of the product. It is crucial for founders to prioritize solving problems and delivering outcomes rather than just focusing on cranking out features. In executing product discovery, time and resource constraints must be considered, necessitating smart and efficient strategies. Startups and even big companies must be prepared to make multiple attempts and learn from them to achieve product-market fit. With the advancement of techniques and tools, it is now possible to iterate and test ideas more rapidly, reducing the time required to reach product-market fit from decades to months.
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