Wednesday, October 24, 2012

10 Product Innovation Challenges

In a previous post, I discussed the top 10 product questions a company must answer to ensure success. Now that you have answered those 10 questions. 

How do you innovate? How do you disrupt a market or change an industry? Easy right? Innovation is a big buzz word. To succeed with innovation, make sure you understand 10 challenges that stop innovation.

Top 10 Innovation Challenges

1. Weak product management function
2. Weak user experience function
3. Inside out thinking (not enough time outside of the office with target audience)
4. No product discovery process
5. Stake holder driven roadmap
6. Not utilizing engineering early enough
7. Lack of holistic view (whole product focus)
8. Focus on dates & features, not business results
9. Missing the rapid test and learn product culture
10. Missing product discovery team collaboration

Of course there might be more challenges that stop innovation, but I think this is a good start. Your goal is to build a product or service that resonates. A product that is so tuned in to your market that it sells itself. Of course, with good messaging, proper channels/distribution methods , and high-performance marketing.

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