How Service Companies Can Benefit from Product Initiatives

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Why every Service company may want to look at a few product innovations.

Why every Service company may want to look at a few product innovations.

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  • 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

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  • 1. About Me1. Serial entrepreneur – co-founded two companies in India and two in USA2. Current company – iMorph – Tools for Information and Intelligence3. One of the mentors at Nasscom Mentoring Group in Chennai4. Started and run the Startup Special Interest Group at TiE Chennai5. Mentor a few product companies6. Chief mentor of an Innovation Cell at an Engineering college in Chennai7. Code for fun
  • 2. Services and Products
  • 3. Services Are AGreat Way To Start a Business
  • 4. Services Have Less Risks
  • 5. Services MarketingIs a Well Established Process
  • 6. Services Business Models Are Proven
  • 7. Services Delivery Models Are Well Established
  • 8. Services HaveA Few Problems
  • 9. Services Heavily Rely On People
  • 10. Services Margins DiminishAs More Competitors Arrive
  • 11. Service RevenuesDepend On People’s Time
  • 12. What about Products?
  • 13. Products Have AHigher Risk Profile
  • 14. Products Have AHigher Potential Reward
  • 15. Products RequireA Culture of Innovation
  • 16. Products Have ADifferent Development Model
  • 17. Products Have ADifferent Business Model
  • 18. Products Have ADifferent Delivery Model
  • 19. Products Require Understanding
  • 20. Products RequireUnderstanding A Domain
  • 21. Products RequireUnderstanding Technology
  • 22. Products RequireUnderstanding Customer Needs
  • 23. Products RequireUnderstanding Customer Needs
  • 24. Products AreEasier to Scale
  • 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 You Get A Successful Product
  • 30. You HaveBetter Margins
  • 31. You HaveHigher Market Value
  • 32. You Are Less Dependent On Head Count
  • 33. You Can Afford to be Small
  • 34. So, How Do We Go From Services to Products?
  • 35. Products AsLead Generators for Services
  • 36. Productized Services
  • 37. Products Delivered As Services
  • 38. Products Generate Service Business
  • 39. Next Steps?
  • 40. Thanks Dorai Thodladorait@imorph.com Twitter: @dorait