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Playbook to build a defensible product

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Whenever we hear people talk about a product, we hear them talk about features and features in a bundle. We rarely hear about steps that build a defensible product. This is our playbook to build a defensible product that both stand out and stand the test of time.
Read full blog here: https://www.lftechnology.com/blog/playbook-to-build-a-defensible-product/

Published in: Technology
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Playbook to build a defensible product

  1. 1. Playbook to Build a Defensible Product
  2. 2. Stages of Product Development Market Hook Instant Gratification Single User Utility Network Effect Multiple User Utility Small and growing Bring user to product Useful before investment Useful for one user Useful with more people and data Useful for collaboration
  3. 3. 1Market Value Good products become great only when they exist in the right market. Understand the importance of building a product for the right market.
  4. 4. Market Share MarketGrowth Types of Market
  5. 5. 2Hook Start off with a small product, engage users, then pull them to the big product.
  6. 6. 3Instant Gratification Make sure users find the product useful without investing anything at first. Get that initial “WOW”.
  7. 7. 4Single Utility Think strongly about single user utility first. If it’s not useful for 1 person then it won’t be useful for 2 or 10 or a million people.
  8. 8. Trigger Action RewardInvestment When does the user find the desire to solve the problem? What benefit does the user get after solving the problem? What investment does the user make to come back to the product? The Hook Model 1 2 34 How is the user solving the problem before the current product exist?
  9. 9. 5Multiple Users Utility Prerequisite for the multiple user utility product is to have a strong single user utility. Collaborative products drive engagement.
  10. 10. 6Network Effect Network effect will lock the users as it becomes too costly to leave the product. And, builds a defensible product.
  11. 11. What Next? What Next? Wrapping up
  12. 12. Know which stage you are in.
  13. 13. Always try to think of the stage you are overlooking.
  14. 14. Do not ignore the initial steps. Steps 1 to 3 require as much effort as stage 4-6, and are crucial for success.
  15. 15. Recommended Reads
  16. 16. Thank you If you have any questions, email us at hello@lftechnology.com www.lftechnology.com

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