How to set (MSC) Minimum Success Criteria that lead us towards validated learning and innovations? In the dynamic world of product development, traditional success metrics fall short in driving innovation. As businesses aim to disrupt industries, there's a need to redefine success for MVPs. Instead of relying solely on metrics like user engagement, companies are adopting a holistic approach. This shift emphasizes qualitative insights and intangible impact indicators, prioritizing real-world value such as efficiency and satisfaction. Innovative success criteria also promote 'validated learning,' encouraging rapid experimentation and resilience-building. By fostering this culture, businesses can embrace failures as opportunities for growth. Ultimately, the shift towards innovative minimum success criteria represents a paradigmatic evolution in the way we measure the success of MVPs. By embracing a more holistic, outcome-driven approach, businesses can unlock new opportunities for innovation, differentiation, and positive societal impact, setting the stage for transformative growth and lasting success in the ever-changing marketplace. #productmanagement #mvp #MSC #innovation #validatedlearning
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Given the growing importance of digital products, we surveyed 300 US organizations to understand their approaches to digital product development. Organizations reported an astonishing ROI of 46% and 75% on new and existing digital product enhancements, respectively. Among the highest performers, we noticed there was a clear difference in what separated the good results from the great results. Two groups emerged—Value Champions and Project Planners. We found that Value Champions are notably better positioned for long-term success. Read the report for deeper insights into the strategies that put Value Champions at the top of the leaderboard: https://ibm.co/43OXJ01
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Founder, Author, Public Speaker. Developer of the Blackblot Product Manager's Toolkit® (PMTK) Methodology
>>>>>𝗪𝗵𝗮𝘁 𝘀𝗵𝗼𝘂𝗹𝗱 𝗜 𝗱𝗼 𝘄𝗵𝗲𝗻 𝗜 𝗹𝗮𝗰𝗸 𝗲𝗻𝗼𝘂𝗴𝗵 𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝘁𝗼 𝗺𝗮𝗸𝗲 𝗽𝗿𝗼𝗱𝘂𝗰𝘁 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀? You're always operating in an uncertain environment where decisions are timely and based on partial information or possibly contradictory data. When you encounter an inconsistent scenario, your best option is to reflect on the company's strategy mix (business, market, and product strategies) and make a decision that is consistent with the relevant strategy. Your company's strategy mix is your compass for making decisions when the map you have is blurred. #pmtk #methodology #productmanagement #strategy ◌ ━━━━━━ @Blackblot is the developer of the PMTK® methodology and the premier provider of private training, certification, tools, and expert services for market leaders and innovators worldwide. ◌
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