Every company wants innovation, but few are great at achieving it. The key is often to achieve product viability, but what exactly does that entail and how do you measure it?
“When something is ‘viable,’ it is capable of not only germinating, but growing,” writes Ronald Brown, a successful startup CEO and author of Anticipate: The Architecture of Small Team Innovation and Product Success, in a guest post for Mashable. “In product development terms, viability means that a product not only gets purchased, but it performs well enough to be recommended to others.”
Brown refers to the Agile product development concept of utilizing direct customer interaction and feedback for multiple rounds of product iteration as a way to make a product viable, but he also points out that “these decisions are made using ‘soft’ data, and mostly gut instinct. They are not easy to monitor.” Brown then provides four basic steps companies can utilize to quantify this soft data and measure their product viability. Read the complete article for the full list and click here for more advice on managing product development.