The Lean Product Playbook
by Dan Olsen
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To create a successful product — you need to satisfy all layers of the Product-Market fit pyramid, ensuring you’re clear on who you are targeting the product for, what their needs are, and then creating a compelling offering that satisfies those needs with a compelling value proposition, feature set, and UX. The Lean Product Process sets out a six-step process to achieve this:
1. Determine your target customers
2. Identify underserved or unmet needs
3. Define a compelling value proposition
4. Identifying an MVP feature set
5. Creating your MVP prototype
6. Testing your MVP with customers
Chapter in one sentence
- Achieving Product-Market Fit with the Lean Product Process: Building a product isn’t enough. You must ensure you understand the market forces — and build a product that connects with that market through a product-market fit.
- Problem Space versus Solution Space: You must separate and use different techniques for the problem and solution space — leading first with the problem spaced focused on emphasizing with and understanding the needs of your target customer, before delving into the solution space of addressing those needs.
- Determine your Target Customer (Step 1): Once you understand the problem space, your goal is to identify a target customer and associated segment that you believe has unmet or underserved needs aligned with your target product vision.
- Identify Underserved Customer Needs (Step 2) The goal now is to identify and elaborate on the needs of your customer — identifying underserved or unmet needs through empirical measurement against the desired outcomes of the target customer.
- Define Your Value Proposition (Step 3) You will define your value proposition by establishing your hypothesized product benefits (must-haves, performance, and delighters) in comparison to your competitors — both in the current market and the predicted future to ensure you’re addressing the most important anticipated needs.
- Specify Your Minimum Viable Product (MVP)…