3 ways to stop wasting time on product development

20/06/17 Innovation

Oftentimes, time and energy is wasted on tiresome analysis or product/service development without a proper validation of customers’ pains and gains. This results in slower traction, burned budgets, and a half-baked idea that fades away or is locked in a drawer.

How can you stop wasting resources on product development

1. Find out customers’ paint points

If I asked my customers what they wanted, they would have said faster horses” (Henry Ford). This is a very often used, but cheap excuse. Customers are a great source of information, and can help validate if you’re on the right track. But they won’t tell you the solution to their problem. You need to ask them the right questions, to get the right insights. This way, you’ll be able to identify their real pain points.

2. Build an MVP

A Minimum Viable Product (MVP) is not a commercial-ready product. Its goal is to discover whether your solution is linked to a real issue, worth solving. Don’t create an MVP that is ready to launch, but instead develop a more tangible visualisation of your solution to check its relevance across stakeholders. This will save you a lot of time, money and ultimately create a better end-result.

3. Work in iterative sprints

Formulating your problem (design challenge) to prototyping should not take you more than 2-3 weeks. It’s about putting the right people in a room, smart prototyping, and validating the prototype with end-users throughout the process.

Applying these 3 methodologies will help you invest the right resources in the right ideas, to launch successful innovations.

Do you have any other elements that you apply successfully in your organisation? Let us know below or get in touch to exchange insights on this process

Read my related article about how corporates can innovate like start-ups by applying Design thinking principles: