First movers have a disadvantage. They have to create a market. This involves educating customers which has its own costs.
Where does the ‘customer journey’ begin? This seemingly simple question often gets lost in between marketing & product management teams.
User research is never easy. The current situation makes it worse. The truth of ‘What people say & what they do are different’ is very true now.
We mistakenly believe technology is the answer to user problems. It is not. Users often don’t care about the tech that goes behind solutions.
‘Opportunity cost’ is a useful tool in prioritization, road mapping &product strategy. Opportunity cost grows over time, so minimize this earlier on.
When starting something new, try parking some time where you don’t have deliverables. Spend time reading, talking to people & thinking about the problem
How much domain knowledge does a product manager need? This becomes a critical question during hiring. Do you wait for someone with the right domain knowledge? Or do you pick someone who can learn on the go? If you're in a new domain, it may be difficult to find PMs...
User research involves a deep understanding of their lives, context, constraints, needs & worldview. This takes time, patience & a lot of skill to do right. It’s an investment, but one that pays rich dividends. Please don’t ignore user research if you want the odds in your favour.
MVP is part of the discovery process and is not part of the delivery. MVPs should be used to test hypothesis quickly with early majority clients, and are by nature experimental.