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Generating Product Ideas - Coggle Diagram
Generating Product Ideas
Observe
Solving your Own Business Problems
List Things You've Worked On
List Inefficiencies
What did you spend a lot of time/money on? What process frustrated you?
Explore Intersections to Find Problems
Fill out a matrix and see
Serve The Opposite Side, Behind-The-Door Processes
Productizing Your Own Life Experiences
List the Life Experience You've Acquired
List the frictions you encountered
What Level of Research did it require? Which required hiring a consultant? What mistakes did you make? What would you have wished that someone told you in advance?
Simplify The Experience For Others
Insider Ideas
List the internal processes of organization with which you're familiar
Were a part of, your close friends are working for or running, organizations you've consulted for.
List the opportunities these organizations didn't pursue
Internal Products, Audiences/Niches too small for the organization, Outsources Processes, Product or features the organization eliminated for the reasons not related to traction.
Explore the product ideas that emerge
Vision-Based Ideas
Define Your Vision
Think about what you want the future to look like and fill in the gap between now and then. - Bring something Positive or move away from something negative.
Find the reasons the vision is not a reality
Moving Away from Negative - What causes this problem? Bringing Something Positive Closer - What prevents it from happening?
List ways of solving these obstacles
Replicate and Improve
Cross-Industry Product Innovation
Make a list of valuable products
Ask people from other Industries what products/services they love personally/business using and what they bought last year. Think of products you're using which you rate highly, about things that you've seen or read about recently.
Adjust these products to your industry/audience
Improve Abandoned but Useful Products
Find in demand products with low ratings
Less than 3.5 Stars, A lot of demand validation, Not been updated for a long time.
Build Better Versions of these products
Localization of existing solutions
List Countries, Regions and Languages you're familiar with
List Products Worth Replicating
Ask people what products/services they love using in their city, country and language. Ask them what they bought in the last six months. Think of things you find valuable yourself, things that you've seen or read about recently.
Bring the product to a new country or language
Automate Marketplace services and products
Find Automatable Services
Fiverr, Etsy
Build Products Automating The Services
Product Unbundling
List Products That your Audience Uses
Analyze the features, platforms and audiences
Extractable Features - Look at what features a company chargers a premium fee for
Unsupported Platforms
Niche Audiences
Convert the opportunities to products
Data Sets
Explore Data Sets
Find Audiences who will benefit from it
First step would be to make it more accessible
Provide the data to the audience
Find Signals
Web Search Analysis
Use Tools to analyze the most common search engine questions
answerthepublic.com, keywordtool.io, keysearch.co/tools/brainstorm-niche-ideas
Search for the topics releavnt to your Audience List
Find problems that people are looking to solve
Identifying your audience's problems
Put your audience list in a table
Explore the problems they encounter
Your Assumptions, Google - Why [activity] is bad,
List ideas to solve these problems
Selling Pickaxes to gold miners
List Trends
TrendHunter.com, Explodingtopics.com, Trends.co
Find opportunities to serve the
participators
in the trend
Scientific Reserach
Go to scientific research aggregators
sciencedirect.com, researchgate.net, sciencedaily.com, jstor.org, scholar.google.com
Search for the topics relevant to your audiences
Solve problems exposed in the research
Model
Business Model Patterns
List Business Model Patterns
Businessmodelnavigator.com, simplicable.com/new/business-models
Add-on, Advertising, Access Over Ownership, Brand Trust Production, Certification and Compliance, Community Building, Customer Loyalty, Direct-To-Consumer
Build a Matrix using your Audience List
Find product ideas in the intersections
Analyzing Common Goals
Split the audience list into individuals and businesses
Build an Audience/Goals Matrix
Find Opportunities
Product Models
List Product Models
DIY Kits, Analytics Tools, Version Control and Collaboration Tools, Planners, Comparison Websites and Tools, Sustainable Alternatives, Curation Products, From Digital To Physical, Review Websites
Create a matrix combining product models and your audience list
Look for opportunities
Where to find more ideas
Crowdsourcing Platforms (Kickstarter, Indiegogo) Trends Reports(Trends.co, Trendhunter.com), Business Reports(Statista.com).
Interact with people - Serial Entrepreneurs, People from Unsexy Industries, Meetups
Prioritizing Ideas
Define your goals
Evaluate Personal Fit
Product/Founder Fit, What will you regret not building, Special Requirements
Put ideas into an impact/effort matrix
Impact - Reach, Value for customer, potential revenue. Effort - Time & Funding