🫵🏻 Not All Products Meet an Existing Business Need, Some Create it!
"No Person's Knowledge Can Go Beyond Their Experience" [John Locke]
Can a simple framework change your life?
Doubtful. But it can change the way you think. Which can change the way you act.
Here's a simple reminder to sometimes subvert the norm, and create a product or service without clearly verified business need.
Not All Products Meet an Existing Business Need, Some Create it!
To develop a new product or service, you need demand, or a business need. That’s what we’re always told.
But sometimes, a product has no demand, but creates the need itself.
Good products meet existing demand.
Great products create new demand. They create new habits. New adjacent ways of solving problems.
This is where Ai will need to take centre stage. It will need to create net new demand by providing adjacent ways of solving new existing problems. And new ways of solving problems we didn’t know existed!
Takeaway:
Some products create and drive a need that didn’t already exist.
Example: Group Audio Chat
Before the likes of ClubHouse, there was no great call for group audio. Yet, it exploded in use within just a few months.
Yes, the Pandemic helped, and Clubhouse were not able to capture much of the value they created, but the group audio product feature persists on Twitter and is very popular Linkedin.
This is a very clear example of a product creating a need, not a need creating a product.
Grab Your Framework Template Now:
Get Started: Don't just read about frameworks; execute them.
Click now to download and save the framework template.
Ps. If you have any great frameworks you’ve created or seen that you want featured in this newsletter, please shoot them over.
Bye.
Only Frameworks