I was recently in a conversation with a top executive at a technology company about the market they participated in, the IP and technology his company had and the plethora of opportunities they had in the future in supplying products and services to their industry.
Over the years his organization has been a very technology-focused enterprise stocked with brilliant scientists and engineers, but it's been undergoing some level of change internally to have more of a market-based business operations focus.
One of the challenges he is now facing is productization and investment in the “right” areas as the company has many options given their technological superiority. Struggles in the past include design stability (amongst a technical desire to supply the latest and greatest to customers), creating a number of solutions and revision control difficulties.
This is not an uncommon experience especially with companies that are expanding and/or have significant IP or for those that are trying to gain market share against larger, well established competitors. It's certainly a better approach than winning with price along.
As we spoke, I shared an approach I have used in the past for productize solutions:
The D7 – PDR Process actually finds its roots in artillery fire planning, but is enhanced with an eye towards several concepts:
Market based Needs
Proven Technical Feasibility
Operational Supportability
Network Multiplier Problem Solving
Life Cycle Management
Financial Performance
Closed Loop Evolution
I developed my approach over time as a General Manager of multiple businesses units, and I have found it to be extremely appropriate to generating products and services which out perform the norm and are differentiated in the markets. Redesigned process chambers, relationship based service agreements, 3rd party provider partnerships, joint development and marketing agreements as well as integrated e-diagnostics are all examples of success.
This is a simple philosophy with a very detailed approach to supporting it.
The last time I presented the D7 - Product Development and Release ("PDR") Process--describing each phase, deliverables and associated accountabilities, it took about 80 slides to do so. It's a robust approach and has produced significant, game-changing results for me in the past. This is not driven or run by any one function in an enterprise, but in fact involves responsibility across the business. I am certain the snapshot I provided to my colleague will bear fruit for his company in the near future.
Here is a summary of The D7 – Product Development and Release:
Stage 1: Development
Phase 1: Detect - (Opportunity Identification) Using all existing market intelligence and organizational input sources identify needs in the market where there is a gap, niche or high demand that is unfulfilled.
Phase 2: Define - (Requirements Analysis) What specific problem(s) need to be solved and what solution approaches are both required and viable using the “Real Win Worth” methodology.
Phase 3: Decide - (Concept and Feasibility) Identification and test of a solution and analysis of the solution to show it is viable: technically, operationally, and financially. Determination of whether the solution could establish a sustainable competitive advantage.
Phase 4: Develop - (Design and Development) Creation of a pilot, prototype or robust test case set that intends to prove out the solution, again technically, operationally and financially. Ratify genuine customer interest in the solution.
Phase 5: Deploy - (Pre-Market Launch) Establishment of a thorough business plan for the solution to include detailed financial projections and provisions for life cycle management, preparation of all required documentation, operations, marketing, technology and sales plans to support launch.
Stage 2: Release
Phase 6: Deliver - (Market Launch and Execution) Official launch, release and sale of the solution to the target market. Delivery of solution to the market place and it’s customers.
Phase 7: Determine - (Post Launch Assessment) Closed loop process to determine the success of the solution in the market place and realization of expected financial performance. Evolutionary solution improvements as required.
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