A framework to conceptualize a new (software) product or feature, with references to other useful frameworks and concepts.
This should be useful to new software product managers.
2. PROBLEM
What problem am I trying to solve?
For whom am I solving it?
Why is my company very suitable to solve this problem?
Are other companies solving this problem already?
PRODUCT / SOLUTION
Solution (How does my solution help these people? Product/Market fit)
Key milestones (What is MVP?)
Competitive product analysis (USP? Entry barriers?)
GO TO MARKET
Market size (estimates of existing market and growth rate)
Competitive sales/marketing strategy
Customer acquisition strategy (costs, channels, partners)?
Pricing and packaging strategy (rationale, tactics)
3. PROBLEM
What problem am I trying to solve? Is it worth solving?
Define the problem, demo any proof that you have that this problem really exists, and it’s a big enough pain point. How have I
concluded that it’s a pain point? (e.g. talked to 10 existing customers / did a survey of 1000 potential users)
For whom am I solving it?
Define user personas, define customer personas. Who are early adopters?
Why is my company very suitable to solve it?
Is the problem broadly aligned with my company’s mission, vision, and skillsets?
Are other companies solving this problem already?
Existing or blue ocean market? If no one else is solving it so far, why? (especially validate that it’s a pain point if other companies aren’t
addressing this problem)
What are my key assumptions, how will I validate them and what’s plan B if they are wrong?
For example, what is my definition of “big enough” pain point? How will I “talk to” prospective customers? what if I realize that the pain point
is not very big one in terms of number of people / companies needing the solution?
4. PRODUCT / SOLUTION
How does my product / solution help?
Define the solution with possible pieces (e.g. software + configuration + services)
Define key use cases, user journeys, storyboards etc.
MVP and later milestones
What is MVP and why is it viable? How will it help us validate key assumptions?
Competitive product analysis (example template)
Details of how other products / solutions are solving the problem. Will my product be very similar? What are my USPs /
strengths? Are there any big entry barriers (like cutting edge technology)? Can competitors be classified in different
segments? Where will I fit?
What are my key assumptions, how will I validate them and what’s plan B if they are wrong?
For example, how much time and money would I need to build MVP and validate that product/market fit exists? What if I
realize that we don’t have the necessary technology / skillset to solve it?
5. GO TO MARKET
What is the market size?
Is it a well-defined market with well defined market size and growth rate? If not, what proxies can I use depending upon my
assumptions about target user / customer personas? Can we segment market and approach them one by one?
Competitive sales/marketing strategy
How are we going to compete? What are our possible strengths? How does our brand compare with competitor brands? How do
competitors price their products?
Customer acquisition / GTM
Strategy (channels, partners, positioning / messaging)
Estimated acquisition cost
Pricing and packaging strategy
Possible pricing, packaging, and profitability figures
What are my key assumptions, how will I validate them and what’s plan B if they are wrong?
For example, what if my customer acquisition cost is much higher than I expected? Will I have to change my pricing strategy?
Will that impact market size assumptions?