The Lean Product Playbook: How to Innovate with Minimum Viable Products and Rapid Customer Feedback
Genres: Marketing
Book Preface
Introduction: Why Products Fail and How Lean Changes the Game
Building great products is hard. We’re all familiar with the sobering statistics about the high percentage of new products that fail. For every Apple, Google, Facebook, and other success story you hear, there are countless failed products causing companies to shutter their doors.
Think of all the products you’ve used in the last year. How many of those products do you love? How many do you hate? How many can you even remember? If you’re like most people, you actually love a very small number of the products you use.
If you’ve been on a team that has built a product that customers love, you know how great that feels. Passionate users can’t stop raving about your product. Your business metrics are growing up and to the right exponentially. You’re struggling to keep up with the high demand. Customers want and value your product.
But the unfortunate reality is that very few products are like that. Why is it so hard to build a product that customers love? Why do so many products fail?
Why Products Fail
Throughout my career, I’ve worked on and studied many different products. When I analyze the root causes of why products fail, a common pattern emerges. The main reason products fail is because they don’t meet customer needs in a way that is better than other alternatives. This is the essence of product-market fit. Marc Andreessen of Netscape fame coined the term in 2007. In the same blog post he also contends, as I do, that startups “fail because they never get to product-market fit.â€
The Lean Startup movement begun by Eric Ries has helped popularize the idea of product-market fit and the importance of achieving it. One reason Lean Startup has such wide appeal is because people know how difficult it is to build successful products. I am a strong advocate of Lean Startup principles.
Many people get excited when they first hear Lean Startup ideas and are eager to try them out. However, I’ve spoken with many of these enthusiasts who struggle to figure out exactly what they should be doing. They understand the high-level concepts, but don’t know how to apply them.
This reminds me of many people who decide they want to get in better physical shape. They are highly motivated to start working out more. They join a gym. They buy new workout clothes. They show up to the gym raring to go—but realize that they have no idea what to do when they get there. What exercises should I be doing? What equipment should I be using? What’s the right way to work out? They have plenty of motivation, but lack the specific knowledge about what exactly to do.
Why This Book?
I wrote The Lean Product Playbook to fill the knowledge gaps faced by many people who want to create a product using Lean Startup principles. This book provides clear, step-by-step guidance to help you build successful products. In working with so many product teams, I have witnessed the various challenges they faced and seen numerous examples of what worked well and what didn’t. Over the course of this experience, I developed a framework and process for how to achieve product-market fit.
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Read Now | May 30, 2020 |
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