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How Service Companies Can Benefit from Product Initiatives
Why every Service company may want to look at a few product innovations.
How Service Companies Can Benefit from Product Initiatives
- 1. About Me 1. Serialentrepreneur – co-founded two companies in India and two in USA 2. Current company – iMorph – Tools for Information and Intelligence 3. One of the mentors at Nasscom Mentoring Group in Chennai 4. Started and run the Startup Special Interest Group at TiE Chennai 5. Mentor a few product companies 6. Chief mentor of an Innovation Cell at an Engineering college in Chennai 7. Code for fun
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- 3. Services Are A GreatWay To Start a Business
- 4. Services Have Less Risks
- 5. Services Marketing Is aWell Established Process
- 6. Services Business Models Are Proven
- 7. Services Delivery Models Are Well Established
- 8. Services Have A FewProblems
- 9. Services Heavily RelyOn People
- 10. Services Margins Diminish AsMore Competitors Arrive
- 11. Service Revenues Depend OnPeople’s Time
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- 13. Products Have A HigherRisk Profile
- 14. Products Have A HigherPotential Reward
- 15. Products Require A Cultureof Innovation
- 16. Products Have A DifferentDevelopment Model
- 17. Products Have A DifferentBusiness Model
- 18. Products Have A DifferentDelivery Model
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- 25. Products Depend On Innovation and IP
- 26. Products Depend On Finding a Niche
- 27. Products Depend On Finding Funding
- 28. Products Depend On Exploration
- 29. However Once YouGet A Successful Product
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- 32. You Are LessDependent On Head Count
- 33. You Can Affordto be Small
- 34. So, How DoWe Go From Services to Products?
- 35. Products As Lead Generatorsfor Services
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- 37. Products Delivered As Services
- 38. Products Generate ServiceBusiness
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- 40. Thanks Dorai Thodla dorait@imorph.com Twitter: @dorait
Editor's Notes
- #2 Why Service Companies Can Benefit from Product InitiativesIn this interactive brainstorming session we will discuss how a service company can benefit from product initiatives. We talk the why, what and how of getting started on products. 1. Differences between Services and Products2. Service Think vs Product Think3. Marketing Challenges for Services vs Products4. What is a Product Initiative5. Can Service companies benefit from products?6. How do you Bootstrap a product initiative in your company?7. How do you align your product initiatives to benefit services8. How can you do an Innovation Sprint?9. How can you conduct a Product Sprint?10. Next stepsDoraiThodla is a serial entrepreneur. He co-founded two companies in India and two in US. Starting as a consulting company, his companies moved from services to products and augmented products with services. He currently helps companies bootstrap product initiatives, advices companies on product and market strategies (mostly selling in US). He strongly believes that building a product innovation culture in a company will help services businesses. His company tracks several emerging technology trends including Cloud Computing, Mobile Computing, Social Computing and opportunity mapping. He spends half his time in US and the other half in India. In addition to running a product company, he is part of:1. Nasscom Mentoring Group in Chennai2. Started and runs the Startup Special Interest Group at TiE Chennai3. Mentors a few product companies4. Chief mentor of an Innovation Cell at an Engineering college in Chennai5. Codes for fun when he has free time and spends a lot of time mentoring students