Let’s say you need to come up with new products and services that will make a lot of money. Here are 3 customer-centric principles that help you do first things first in new product innovation, and get far better results. We call them our “B4” principles (as in what comes “before” what).
Purpose B4 Profit: Your company exists to achieve a certain purpose (what Simon Sinek calls your “why”). Be clear and passionate about your purpose. And know that turning a profit is not it. Successfully fulfilling your purpose is how you make money; it will always entail satisfying desires of your customers. Which requires…
Customer B4 Product: It all starts with the customer. The notion of putting customer desirability ahead of technical feasibility is a hallmark of Human-Centered Design. Avoid the seduction of making things because you can, rather than because customers value what it does for them and will pay for it. This means…
Problem B4 Solution: First focus on identifying meaningful problems and unmet needs that customers care about before diving into technology and solutions. Even if you initially come up with a great idea of a new product, think through the lens of how it will improve the customers’ situation.
What is your experience practicing these “B4” principles?