Jason S Bradshaw walks through three questions to build a product strategy: What do your customers want most? What's their biggest pain point? What existing product could you improve? Answer these to find your repeatable formula.
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Design a product or service that meets the needs of your target market. Most small businesses, most entrepreneurs, start their product journey through that great idea they had when something didn't work for them. The challenge is that over time, as you're looking to grow your business, you need to implement new products and services. It's absolutely essential that you build out a product development strategy so that you've got a formula, the secret sauce, if you will, to developing the next big hit. What I'd encourage you to do is to think about this. What is the number one expressed or unexpressed desire of your customers? The second thing is, what is the biggest problem or pain that's in your customer's life today? And the third area that I'd ask you to consider in building out your development strategy is what is it that you already do for your customers that you could add an additional product to that would make it all so much better? Be sure to save this video for the next time you need a hint on how to develop a winning product strategy.