If, like me, you are feeling the burn of your cycle commute this could be the answer. Operated and controlled from your phone, the 'Copenhagen Wheel' is designed to be "an add-on device that turns an existing bicycle into a hybrid electric bike." I like it, I like it a lot.
It's occurred to me with real clarity recently that the key thing on this subject is not to over complicate. Launch products with the minimum you need. Otherwise, you'll soon feel the strain. Work to the premise that nothing is ever finished so launching too soon shouldn't ever be an issue.
This is linked to my previous post where I stressed the importance of 'target audience' in new product development.
One of the most effective ways to understand your target audience and assess/seek opportunities is to organise a focus group. It will tell you :
It may also help to develop meaningful personas that will help you in the build phase.
All you need:
Oh, and a few snacks and liquids.
There's actually no better way (other than building and launching the thing) to test and uncover opportunities.
You'll be glad you did it.
Investigating starting a product from scratch occurs to me to be the hardest challenge to face a product manager.
Leaving aside the small subject of 'success' for a minute (because it's harder to create a formula for that one!) there are a few key things product managers have a responsibility to look for when investigating bringing a new product to market.
Target Audience.
Who are they? What do they think? Familiarise yourself with them, talk to them and take your promts from them. One day they will hopefully be your customers. Start treating them as customers today.
Identify a gap/problem/opportunity/need or want.
This is totally crucial. If you don't have one don't waste time on a commercial product.
Solution.
Keep it simple. Is it a real solution? Test your theory. Your problem and solution is really the foundation of your product.
How to make money.
Almost seems obvious to say it out loud. Even if you have a problem and a solution if you can't see a clear revenue angle in most cases you do not have a commercially viable product.
Why you?
Make sure that the product is within the boundaries of both your expertise and interest. You probably need to be both able and enthusiastic when considering taking on launching a new product and being responisible for its life-cycle.
Thanks to @StoatWithToast for providing the stimulus and discussion that lead to this post. Would love to know thoughts on this one and whether you agree or have points to add...
Carl Knibbs