Release early and often

Product culture

It turns out that these values ​​are necessary, but not sufficient. There is a set of four values ​​that are in fact the core of the entire digital product development team. These are the values ​​that make up the product culture, which is nothing more than the set of behaviors of the digital product development teams that produce the best results. The four values, which will be the subject of this and the following chapters, are:

  • Release early and often
  • Focus on the problem
  • Result delivery
  • Ecosystem mindset

MOMENT OF TRUTH

It doesn’t matter how much research, interviews, and prototypes you do, the moment of truth, that is, the moment when you will know if your product is, in fact, the solution to a problem of a group of people, is when the product is in your customers’ hands, in the context where they need the product.

TOO MANY FEATURES

There is a limit of features that the user can understand. When we add too many features, instead of creating a solution to the customer’s problem, we end up creating a new problem for the customer.

RETURN ON INVESTMENT

The longer your product takes to have users and, consequently, customers who will at some point pay for your product, the more you will have to invest out of your own pocket. Below is a typical graph of a product’s return on investment (ROI).

If you are not ashamed of your first version, you took too long to launch

LinkedIn founder Reid Hoffman once said that:

MMF — Minimal Marketable Feature

Minimal Marketable Feature or MMF comes from a 2003 book called Software by Numbers, by Mark Denne and Dr. Jane Cleland-Huang. In this book, they introduce the concept of:

Summing up

  • There is a set of four values ​​that are in fact the core of every digital product development team. These are the values ​​that make up the product culture, which is nothing more than the set of behaviors of the digital product development teams that produce the best results.
  • The three reasons for you to launch your product soon are that (i) this is the moment of truth, (ii) so you avoid the excess of features and (iii) accelerate the return of the investment.
  • If you are not ashamed of your first version, it took too long to launch.
  • Minimal Marketable Feature or MMF is a concept prior to that of MVP, which has the advantage of bringing this mentality of implementing the minimum necessary for each product functionality.

Missing something?

So, did you miss something in this chapter? What else would you like me to cover?

Digital Product Management Books

Do you work with digital products? Do you want to know more about how to manage a digital product to increase its chances of success? Check out my Digital Product Management bundle with my 3 books where I share what I learned during my almost 30 years of experience in creating and managing digital products:

  • Startup Guide: How startups and established companies can create profitable digital products
  • Product Management: How to increase the chances of success of your digital product
  • Leading Product Development: The art and science of leading digital products

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Joca Torres

Joca Torres

2.5K Followers

Digital product development advisor, coach, and board member. Also an open water swimmer and ukulelist.