The Foundation

Mission | Vision | Values | Culture

Failure to clearly articulate the foundation documents negatively effects a company's recruiting, strategy, execution, and customers.

Mission and Vision drive the setting of goals, strategy, and objectives while providing a compass for decision making. Values and Culture are about the people that make up and organization and how they execute.

Mission-driven outperform those that are not by +200%.

Benefits of a Clear Foundation
- Align corporate and product mission and vision
- More effective product strategy
- Improved product decision making
- Leverage corporate strengths to maximize product success
- Better customer experiences

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Continuous Innovation

Rising customer expectations, an increasing number of competitors, and faster times to market present challenges not overcome by Waterfall (staged) and Agile (iterative) methods.

Both Waterfall and Agile approach product development incrementally producing a set of features over a period of time. The challenge with these approaches is that customer expectations have changed over the period of time and the set of features produced no longer meet the customer's needs at the time of release.

Continuous Innovation is a fundamental departure from incremental development to a cloud of ideas, in various stages of validation, any of which can be passed on at any time for immediate development.

Benefits of Continuous Innovation
- Rapid feature deployment
- Higher product success rates
- Increased customer satisfaction

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Lean Startup Methodology

Current product development processes follow a plan and execute model. Detailed plans must be prepared for the projects to receive funding and performance is wrongly measured in terms of time and budget. The resources required for planning and tracking limit the number of projects and increase the overall risk of failure.

We replace the process of Continuous Innovation with the Lean Startup process of Build, Measure, Learn.

This is a shift from the traditional focus on Solutions to focusing on the Problem where solutions are documented and communicated with the Business Model, which systematically evolves from an Idea to the Product.

Benefits of Lean Startup Continuous Innovation
- Minimize resources & maximize projects
- Identify your customers most important problems
- Develop the most effective solutions to customer problems
- Minimize product risk
- Achieve Product/Market Fit

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Co-Creation

Without Co-Creation customers are only involved at specific points in the product development process. Customer participation in the product development process has a direct relationship with product success.

Co-Creation is the collaboration with customers (and others) in the processes of innovation and development to ensure that products meet customer's needs and expectations along with delivering the best customer experience.

Companies that have implemented a customer-centric Co-Creation process, such a Amazon, LEGO, P&G, Virgin and Southwest Airlines, have more than doubled their product success rates.

Benefits of Co-Creation:
- Gain a complete understanding of the customer and their journery
- Identify Customer's biggest problems and discover the best solutions
- Validate solutions before development
- Create solutions that meet customer's needs and expectations

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Experience Management

Customer experience is becoming an increasingly important factor in the customer purchase decision process. A recent study stated that by 2020, customer experience will overtake price and product as the key brand differentiator.

Customer Experience Management (CXM) the practice of designing and reacting to customer interactions, throughout the customer lifecycle, to meet or exceed customer needs and expectations and, thus, increase customer satisfaction, loyalty and advocacy.

A modest improvement in CX could add 50-100% to revenue over three years.

Benefits of Customer Experience Management
* Develop a detailed understanding of Buyers and Users throughout the product lifecycle
* Identify problems that exist with in the current system
* Uncover opportunities that form solutions
* Improve the customer experience and increase custoemr satisfaction

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Objectives and Key Results

Studies have shown that committing to a goal can help improve employee performance.

All business initiatives have objectives. OKRs can be used to set goals and track performance, in addition to profit, Purpose-Driven people and planet performance, Continuous Innovation Activity, Portfolio, and Productivity metrics, the Validated Learning, Innovation Accounting, and Lean Analytics of Lean Startup, Customer Experience metrics like Net Promoter Score, Velocity of Product Developmentand, and other key business metrics.

Research reveals that setting challenging and specific goals can further enhance employee engagement in attaining those goals.

Benefits of OKRs
- Setting stretch goals
- Promoting accountability
- Aligning the organization

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