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
Mastering Product Success: Value, Usability, Feasibility, Viability
Achieving product success hinges on addressing four critical factors: value, usability, feasibility, and viability. First, it's essential to determine whether there is a demand for the product—this often involves analyzing the competitive landscape to see if potential customers are already investing in similar solutions. However, the more challenging aspect is ensuring the solution is significantly better than existing alternatives; otherwise, customers are unlikely to switch. Intense customer immersion is necessary to refine the product discovery process, where four key questions must be considered. The value question assesses whether the product is appealing enough for customers to want to buy or use it. The usability question evaluates its ease of use, emphasizing the need for proper product design skills to ensure a seamless experience. Feasibility addresses whether the team has the required skills, technology, and time to build the solution effectively. Finally, viability examines the practicality of sustaining a business around the product, including legal considerations, financial sustainability, and market readiness. Failure to satisfactorily address any one of these areas can lead to a product's downfall.
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