This is the most fundamental and truest product development concept that we have encountered over the years. Thank you for it, Dan. Team TechMarketers.
@Dan Could you please explain why 'Value' is in the Problem space? Ideally, Value could be 'Value prop(product) + Customer Perceived Value(market)' right? Just wanted to understand your thought behind that.
Not sure why you need to break down "Value" with your equation here. Seems to me you're looking at it from a marketing angle(?), which isn't what this is about. The problem is you've framed "value prop" as part of product. Going back to the "drill/hole" analogy, the value prop is about whether your product addresses the "hole" in a relevant manner to the customer (be it fastest or cleanest etc.), it's still about the hole, and thus strictly in problem space. It doesn't matter here whether you're making a "drill" (product/solution space). Product space is strictly about implementation (see 7:26).
This is the most fundamental and truest product development concept that we have encountered over the years.
Thank you for it, Dan. Team TechMarketers.
Einstein one of famous quote that he will spend 99% time to understand the problem 😊
The Echo on my desk just started giving me the answer, triggered by the video. Thanks for the good fun, Dan!
@Dan Could you please explain why 'Value' is in the Problem space?
Ideally, Value could be 'Value prop(product) + Customer Perceived Value(market)' right?
Just wanted to understand your thought behind that.
Shouldn't Value prop be Solution Space and Customer Perceived value be Problem Space?
Not sure why you need to break down "Value" with your equation here. Seems to me you're looking at it from a marketing angle(?), which isn't what this is about. The problem is you've framed "value prop" as part of product. Going back to the "drill/hole" analogy, the value prop is about whether your product addresses the "hole" in a relevant manner to the customer (be it fastest or cleanest etc.), it's still about the hole, and thus strictly in problem space. It doesn't matter here whether you're making a "drill" (product/solution space). Product space is strictly about implementation (see 7:26).
Thanks @@edmundfung
Keep going
I have a Bible presented to Dan Olsen on 9/28/2017.