With almost every cluttered sector/industry do you fear to step into the shoes of entrepreneurship? Perhaps if you are confident enough to make your own mark, how much should you really rely solely on your product? What if you welcome downfall even before trying to climb the ladder? What if pitching to an investor is a complete disaster as he did not find any value in the product? All these questions can be answered if you have a product with essential building blocks. All the successful products out there are a part of it, so can be yours too….
Christopher Hawker an entrepreneur and innovation expert came up with 3 building blocks known as his “Perfect Product Pyramid”. They are as follows:
Innovation is a sub-set of a successful entrepreneur. Innovation cannot be taught in schools or colleges. It is a natural creativity of your mind. As Einstein quoted – “Imagination is more important than knowledge. For knowledge is limited to all we now know and understand, while imagination embraces the entire world, and all there ever will be to know and understand.” Innovation is why the product exist. If it is not innovative, people might not find any interest to use your product.Products with no innovation, the so-called “me too” products, rarely do much business. Sometimes, all you need to do is innovate a new cost alternative, create a new product category and new marketing techniques. This can change the game altogether on your side. But always remember “Different” is not always same as “innovative” if the benefits are negligible.
This is where the important part lies. You might have a million-dollar idea but how well do you execute it? How well does it captures people minds and hearts? The product should not only be serving to accomplish a task but should deliver the promise of the idea. Some of the new companies try to get their product out in haste. This is something you shouldn’t even attempt to do. Delivering an unfinished product can only lead you to your worst. It’s better to get all the details and not try to release your product in a hurry and encounter disappointing flaws.
This is the last layer of the Perfect Product Pyramid. Design is where the product takes its final form. Design is used to emotionally engage the consumer, and emotion is the basis for the vast majority of purchases. Design is the thing which is gonna be “first impression” of your product. Make sure you design the product how people want to see it and not how you want to. because it is the point of the arrow where you target your customer.
With great Idea and it’s functionality along with mind blowing design equals to successful product. Because the Perfect Product Pyramid is so simple, it is easy to remember and use. So before releasing your product make sure you take a look from your customers lens and make sure all these elements are satisfied. If not, do not try to rush in just because your investor wants to recover his money faster.
– Vatsal Doshi
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