⤴️ EVO7: Product Discovery Questions∙Rapid Experimentation for Product Discovery∙Business Models Intro & Examples∙Sharing Session: Product Metrics Map
Fellow Product developers,
This edition brings you a new mix of visuals and live shared knowledge:
6 questions to ask for discovering the right product to develop;
Deep dive map of techniques for problem discovery, solution discovery and product design discovery (60+ techniques mapped);
Visual explainer + 5 examples of Business Models;
and an invitation to explore together a Product Metrics Map with 146 interconnected metrics for e-commerce.
Keep on evolving,
Bülent
Product Discovery Questions
Better questions lead to better discoveries in general, for the humankind.
In particular, Product Discovery is not only about discovering the right problems and the right solutions for the users. Here are 6 questions that might inspire your Product Discovery endeavours:
Niche discovery: Is this the right niche (of beneficiaries) to create value for?
Problem discovery: Is this the right problem (or set of problems) to address for these people?
Solution discovery: Is this the right solution (or set of solutions) for this problem (or set of problems)?
Product design discovery: Is this the right way to embed the solution (or solution set) in a product?
Adoption discovery: Is this the right way to encourage people to adopt and use these solutions?
Growth discovery: Is this the right way to grow our product?
Even if most Product Development / Product Management literature and content is currently focused on techniques and practices for Problem Discovery and Solution Discovery, this doesn’t mean that the other questions aren’t useful or relevant for developing your product.
Level up your models, level up your questions, level up your practices.
Food for thought for continuous learners 💡
Rapid Experimentation for Product Discovery
I shared the set of questions above as part of a workshop-sharing session that will be published soon by the wonderful Marketing Takeover team.
During this session, I also shared a deep dive map of 60+ rapid experimentation techniques linked to Problem Discovery, Solution Discovery and Product Design Discovery, based on a synthesis from multiple sources like Inspired, Running Lean, Adobe Kickbox, Continuous Discovery Habits, UX Research Methods from NN Group and Testing Business Ideas.
Business Models Intro & Examples
Understanding how businesses work is essential when developing products.
Level 0, minimally: for better understanding your business and the business of your customers, if you’re developing a B2B product.
Next level: for better understanding the businesses operating in your business ecosystem.
Next level: for better understanding the businesses operating in adjacent or similar business ecosystems.
Next level: for better understanding winning businesses operating in any business ecosystem, in the present (see EVO2 for a map with 4 dominant business model families)
Next level: for anticipating business model evolutions in various business ecosystems, so you navigate strategically towards where ”the puck is going”.
Next level: for understanding past, present and future business models through the evolution of underlying patterns and pattern dynamics in evolving, networked ecosystems (see OD79 for a visual reference about strategy in open networks, in the Strategy & Organization newsletter that I co-curate).
Below you can find the Miro board that I’ve shared during my guest lecture for the Business Administration in Foreign Languages college in Bucharest, with the purpose of offering a good foundation (level 0) for the 50+ students that attended the course:
3 moments from my professional journey when I understood the value of business models;
Visual explainer of the Business Model Canvas;
Worked example with business model of a small restaurant at a mountain resort (lots of great questions here, including options for how such a business could have adapted in 2020);
Four business model examples from my experience: home repairs marketplace, IT services company, real estate developer, my current training & advisory business.
Shared Knowledge Live
Join the next small group session.
Sharing: Product Metrics Map
Join an 1h informal pop-up sharing session, in which:
I'll share with you the beautiful Product Metrics Map (focus on e-commerce, with 146 linked metrics) created by JetMetrics to help understand how product metrics are interconnected
We will discuss based on the Product Metrics Map: what is useful, how you could create a Product Metrics Map for your own product, what else could be useful
Bonus: I'll share with you an example of Product Metrics model from the Lean Analytics book, to have it as a reference when you're building your own Product Metrics model and map
The session might be relevant especially if you:
Want to level up your understanding about Product Metrics
Want to help others level up about Product Metrics
Friday, December 9th, 4-5pm CET, 12 seats only.
Thanks for reading the Product Evolution newsletter!
See you again in two weeks. ✌️ If the newsletter was forwarded to you, then:
This newsletter is written by Bülent Duagi,
Sr. Strategic Adviser and Founder of Product Evolution.
Let’s connect: LinkedIn
Product Evolution is a business focusing on helping Product teams level up:
Develop capabilities needed in Product Discovery, Product Strategy, Product Metrics, Product Mindsets, Product Insights and Product Marketing;
Make higher quality Product decisions, faster;
Make better use of the limited resources the Product team has.
Find case studies and more details on: productevolution.eu