Pipeline Accelerator Insight #50: Use Early Learning Loops in Product Development
Early-stage product development is all about making decisions and answering critical questions in the Big 5 areas. To move faster, use early learning loops in product development to get these answers quickly.
Your early learning loops should focus on these five pillars:
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- Commercial: Is there value created for customers? Can you communicate that value to the market? Is the value high enough that you can make money?
- Technical: Do you have a good idea for a solution? Do you already have the technology, or can you borrow it?
- Manufacturing: Can you make it yourself, or have it made by someone else?
- Regulatory: What rules do you need to follow? Think about making it, shipping it, and using it in the value chain.
- Intellectual Property: Is there IP you can’t get around that hurts your Freedom to Operate? Can you license it?
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Replace slow early stages with these short learning and experimentation loops. Using early learning loops in product development is the best way to nail down your feasibility and requirements early on.
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