Having launched our two first products for sale and having numerous other products on the drawing board, the time has come to create a specific product strategy to plan ahead better and synch pipeline with financials.
Until now we employed a laissez fairez approach to our pipeline because our first serial productions was all about trial and error, so it was pretty much impossible to draft and follow strategies. Having safely landed two products with complex production processes we have learned a lot and are ready to systematize our approach to the products we develop.
Why do you need a product strategy and plan ahead when it’s much more fun to just do what you want to do?
- We need it so Rune knows what kind of products in terms of complexity, costs and timeframe he should work on at any point in time through the year
- We need it to estimate costs and revenue over the long term so Andreas can draft realistic forecasts and plan our financials
- We need it at as a timeframe for product launches to kick Rune in the butt so he can finish the design on time and to kick Andreas times two in the butt so the marketing and distribution strategies are ready on time
Below is the summarized version of our product strategy – and also a peek into our pipeline – woohoo what a privilege!
Any ideas you have for products are welcome if they fit the bill – shoot Rune an email or stop by the store and tell us what you have in mind. Any thoughts on the strategy are welcome as well – as any strategy – our strategy is incomplete and subject to change. Please comment underneath.
MAIK_product_strategy
