How Can You Simplify Building of New Product?

We've put together some ideas on how to simplify developing new products, services, or businesses. Whether you're just starting or looking to refine your approach, this video is designed to givew you some new ideas how to simplify your work.

Starting a new business, product, or service often feels complicated in today's complex world. However, simplifying the process is key. Focus on what's truly necessary, avoid getting overwhelmed by details, and aim for clarity and simplicity. This approach not only speeds up the process but also reduces stress, helping you make better decisions. Remember, simplicity can lead to greater success.

Follow the Golden Rule KISS

The golden rule for success is KISS - "Keep It Simple, Stupid." It means that you should try to keep things as easy as possible. Sometimes, we forget to do this because we are always in a hurry or believe that everything we do is urgent. When we rush, we often make decisions without thinking them through, leading to complicated solutions. So, remember to keep things simple. This approach helps us think more clearly and make smarter choices.

Focus on Your First Customers to Avoid Overcomplicating Things

It's important to not make things too complicated when starting a new product. This means you should focus on what your first customers really need. Before making your product (also known as the minimum viable product or MVP) with all of the features you have in your mind, find out who your first and most interested customers are and what they want. Understand what they need from your product and why they would buy it, today. This approach helps you create something valuable without adding unnecessary details in your first version.

Benefits:

1. Less Complexity in Development: Focusing on essential features means fewer changes and a more straightforward path to developing your MVP.
2. Easier Business Development: With a clear focus on a smaller customer group, you'll make fewer guesses and move faster.
3. More Targeted Marketing: Knowing your customers well means you can market directly to them, sometimes even bypassing the need for a big marketing budget.
4. Focused Sales Efforts: Your sales team can concentrate on fewer, more interested customers, making their efforts more effective.
5. Avoid Competition: You can avoid competition until you are ready for it.

When you look at all the advantages we talked about, you'll see that making things simpler and easier is truly beneficial. By not trying to please everyone and focusing on a specific group of customers, you make your task more manageable. This focused approach is not just logical but also makes everything feel more achievable and less overwhelming.

Testing Your Ideas with Pretotyping

How can you be sure your customers will buy what you're planning to sell? A great method I've discovered is called Pretotyping. This strategy was first created by Google around 2010. It's a quick way to check if your product idea is something people really want and will buy.

Pretotyping is all about testing your customers' interest in your product before you spend a lot of time and money on making it. The goal is to see if they are truly interested in buying it. This means you find an innovative way to test with them directly the idea and their intent to buy it. You need this feedback to make sure you're creating a product that meets their needs—the right Minimum Viable Product (MVP). Without knowing this, you can't create a successful MVP.

Pretotyping Example Case: The Vegetarian Burger Test

A hamburger restaurant wanted to introduce a vegetarian burger but wasn't sure if it would sell. Instead of fully developing the product, they listed it on their menu without actually having it available. This pretotyping method allowed them to gauge customer interest with minimal risk. When customers tried to order the vegetarian burger, they were told it was unavailable, and the restaurant noted their interest.

This clever strategy offered clear insights into whether the vegetarian burger was worth investing in. Pretotyping like this helps businesses understand customer demand directly and quickly, without significant upfront costs.

The Reality Check: Pretotyping vs. Predictive Surveys

Adding to this, consider if the restaurant had conducted a survey asking customers if they wanted a vegetarian option. Many might have said yes, expressing a desire for healthier food. However, their actual choice at the moment of ordering could lean towards the familiar comfort of a traditional hamburger, thinking, "I'll try the vegetarian option next time." This discrepancy between what people say they want and what they actually choose highlights the advantage of pretotyping. It tests real behavior rather than relying on hypothetical scenarios, providing more accurate and actionable insights.

Think Outside the Box how to Uncover Customer Desires

To truly understand what customers need, you must be creative in how you find out. It's important to make your tests as close to real buying situations as possible. This means creating scenarios where customers show if they would really buy your product or just say they will. This approach helps you learn what customers really want.

Remember that Your Journey Is a Marathon, Not a Sprint

I wish you all the best on your journey. Remember, making your business or strategy simpler can greatly increase your chances of success. Not just that, it can also make you and your team feel much better. This is very important thing to remember. Building a successful venture takes time and patience—it's a long marathon, not a short sprint. So, take your time, think carefully, and keep moving forward.

Maybe I Can Help You

If you have any questions or you need help to find the most promising "Target Segment Roadmap" for your new product or service, please connect with me here in LinkedIn and I'm happy to help you.

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