Inspired Marty Cagan Part 1

In Part I of Cagan's Inspired, he presented the best knowledge about the fatal flaws that many companies tend to overlook. Cagan coherently posits that the companies fail to realize that most of the ideas are just not going to work. While the stakeholder believes strongly in his product, the product simply does not 'stick' with the consumers. They may be unwilling to experiment with something that is not deemed useful or consider it too complicated and would like to stick to the way things have always been done. Big ideas are what defines the great organizations and going into the unknown without assessing the problem is a huge amount of risk.

It is important to define the problem: What problem are we aiming to solve - and what are we not solving. Rather than focussing on multiple problems we need to narrow down onto individual problems and set it right. Secondly, understanding whether the problem really exists for the chosen audience , with the evidence to back that up. A problem definition sheet of Six Sigma[1] methods helps teams determine the who, what, where, why, when and how of the problem they're working on – or ruling out. Having this evidence, both qualitative and quantitative, helps us determine how big the problem is.

The author also states that, at least half of our ideas are just not going to work. Sometimes, I personally feel that it is required to take that 'Leap of faith'. But it is also equally important to validate your 'Leap of faith'. Being able to test out our product before launching it helps us understand its worth or demand. For e.g.[2], Dropbox's cofounder posted a video explaining how his product works without actually constructing it. He proved the value of his idea by having 75,000 registrations overnight from the video. It's also a risky method that can lead to the idea being stolen by competitors. Yet, it takes courage to step it up and judge the risk accordingly.

It is also important to have the right medium and motivation for testing this out. This is influenced by all the experiences and connections we've had throughout our lives. When Jack Dorsey tweeted about Instagram to his million-plus followers, Instagram became famous and was featured on Playstore. By this, the growth of the product was validated.

These leap of faith assumptions are the real power of entrepreneurs because the entire venture depends on it. If they are true, the great opportunity awaits. If they are false, the start-up/business risks total failure. — Eric Ries.

During difficult times of COVID, my team and I envisioned how to curb the spread of the virus in commercial spaces. Our enthusiasm for our ideas led us not to see how our product could also be used negatively in other areas. It is imperative that we are able to have the foresight to judge what our product might enable? What might it disable? Who would be in control?

What did I learn from this book?

Cagan clearly paints the pictures of how most product teams work and why their methods are a problem. He refers to product teams driven like salesmen or mercenaries lacking empowerment and structure. Cagans views on the types of risks is clear and effective for a new product development team. Understanding the value of the product before it is launched, ease of use of the product for the users, the technical feasibility of implementing the idea in the real world, and the business perspective to provide a return on investment and comply with all legal and marketing obligations. In focusing on these simple concepts, product teams can ensure that ideas are viable both from a business and user perspective.

References

[1]https://www.dummies.com/business/business-strategy/the-what-who-and-why-questions-of-business-analysis/
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[2] https://www.digi-corp.com/blog/how-to-validate-your-leap-of-faith-assumptions/
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[3] Nelson, Harold G. Stolterman, Erik. The Design Way: Intentional Change in an Unpredictable World (The MIT Press) (p. 49). The MIT Press. Kindle Edition.
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[4] Inspired: How to create tech products customers love, Cagan, Marty, 2008[1] https://www.dummies.com/business/business-strategy/the-what-who-and-why-questions-of-business-analysis/