According to #HarvardBusinessSchool, each year 30,000 new consumer products are launched!

And if each product takes an average of 12 months to develop

That’s a combined 30,000 years that go into launching products into the market every year

Most businesses site lack of preparation as the main roadblock to launching

Which can be attributed to a lack of a clear #productstrategy

And results in a lengthy product development process

The effort spent upfront to create and optimize your product strategy will eliminate most of the self-inflicted roadblocks

With a defined strategy, the team has a clear product roadmap that cuts the time to launch substantially

And the final product aligns to what the consumer wants

Does your team put emphasis on creating a product strategy upfront?

If you are spending this much effort on product design and development

What is the difference between a business strategy and a product strategy?

Most businesses are started because the owner has an awesome idea

Whether it’s making a handbag, selling insurance, or editing videos

The business owner believes that their product can improve a process, fill an existing gap and provide tremendous value to consumers

They feel compelled to put out their product on the market and share their genius with the world

And for the most part