New Product Governance: Driving Growth and Revenue

New product governance is a powerful enabler that accelerates growth and revenue.

It proactively supports the best opportunities at the expense of the losers and even the mediocre ones.

When done right, it’s not another form-filling exercise that your people can learn to game.

It’s not a gotcha exercise to find the flaws and exaggerate the risks.

Instead, it’s a genuine in-depth conversation about the opportunity’s truth that you hold before committing to execution.

Here are some tough questions you need to ask about your new product governance.

Does the opportunity fit your strategy, capabilities, and market position?
Does it leverage your strengths to create more value in our current market?
Or help move you into adjacent markets or technologies?
Is it more stretch than you are ready and able to handle? Think in terms of market stretch or capabilities stretch (technology and manufacturing)

New product cash flow is the goal.
Does your new product governance ensure teams understand the economic value each new product can deliver early in the development?
And not just the ROI for your company but also the payback that will entice customers to buy?
Have they calculated the cost of day’s delay in getting to the sales launch?
Or do sales forecasts erode after launch?

Does your new product governance force teams to go deeper and think about what could go wrong and where you might meet resistance to change?
Have you built the necessary learning loops into our process so teams can move forward with confidence?
When an opportunity turns out not to be a fit, do your teams identify that early, learn from it, and quickly move on to a better opportunity?

If your organization can have new product governance conversations like these, that is true transparency.

That kind of governance is a powerful motivator and a key first step in creating the competitive advantage every leader needs.

My free Clear Winner Assessment is a great place to start