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Working on a few blog posts and had an epiphany about product innovation and startup ideas but having trouble really fleshing out my thoughts.
The premise is that every product is derived from or is moving towards a particular kind of innovation.
More 👇
The premise is that every product is derived from or is moving towards a particular kind of innovation.
More 👇
Remember when VCs threw money at every startup claiming to disrupt an industry?
"When every innovation claims to be disruptive, disruptive loses its meaning. This is particularly the case in startups, where the word “disruption” is almost a business pitch requirement nowadays."
"When every innovation claims to be disruptive, disruptive loses its meaning. This is particularly the case in startups, where the word “disruption” is almost a business pitch requirement nowadays."
While it's literally a meme now, there's still some merit in the method.
And maybe it's just ONE method startups can use to create a viable business and position themselves well with a truly innovative product.
👇 Here's an attempt to describe a framework for thinking about it
And maybe it's just ONE method startups can use to create a viable business and position themselves well with a truly innovative product.
👇 Here's an attempt to describe a framework for thinking about it
1. Disrupt:
New technology, model, or brand for a market dominated by old, large incumbents.
Basically, innovate in an industry full of businesses who stopped innovating.
Example: @DollarShaveClub, @Intercom, @Webflow
New technology, model, or brand for a market dominated by old, large incumbents.
Basically, innovate in an industry full of businesses who stopped innovating.
Example: @DollarShaveClub, @Intercom, @Webflow
2. Supplement:
Building on someone else’s product or customer base.
Basically, create for someone else's platform. Ride a wave. Build on new technology.
Example: Shopify Apps, Chrome Extensions, Mobile Apps, Slack Apps, Wordpress Plugins
Building on someone else’s product or customer base.
Basically, create for someone else's platform. Ride a wave. Build on new technology.
Example: Shopify Apps, Chrome Extensions, Mobile Apps, Slack Apps, Wordpress Plugins
3. Specialize:
Replace a spreadsheet, document, or record.
@TheCoolestCool's "Unbundling Excel"
Example: @Baremetrics, @QuickBooks, pretty much anything/everything honestly
foundationinc.co/lab/the-saas-o…
Replace a spreadsheet, document, or record.
@TheCoolestCool's "Unbundling Excel"
Example: @Baremetrics, @QuickBooks, pretty much anything/everything honestly
foundationinc.co/lab/the-saas-o…
4. Automate:
Replace a person or manual process.
@aprildunford: "Your product might be easy to use, but not easier than having an intern do it."
Example: @buffer, @Workable, @Baremetrics Recover & Cancellation Insights
Replace a person or manual process.
@aprildunford: "Your product might be easy to use, but not easier than having an intern do it."
Example: @buffer, @Workable, @Baremetrics Recover & Cancellation Insights
5. Productize:
Turn custom software into something turnkey and managed.
Businesses both small and large build custom software to save money or do something that isn't possible with an out-of-the-box product.
Example: @rightmessageapp, @basecamp, @NomadList,
Turn custom software into something turnkey and managed.
Businesses both small and large build custom software to save money or do something that isn't possible with an out-of-the-box product.
Example: @rightmessageapp, @basecamp, @NomadList,
6. Customize:
Modify and differentiate general software for a specific underserved subset of the market.
"CRM for ___," "marketing automation for ___," "check-in software for ___," etc.
Example: @mindbodypowered, @uplaunch, @CopperInc, @clubhouse
Modify and differentiate general software for a specific underserved subset of the market.
"CRM for ___," "marketing automation for ___," "check-in software for ___," etc.
Example: @mindbodypowered, @uplaunch, @CopperInc, @clubhouse
7. Bundle:
Expand a product offering or feature set to replace more and more complementary tools.
The all-in-one's, end-to-end's, and multi-product suites.
Example: @NotionHQ, @intercom, @close, @salesforce, @HousecallPro
Expand a product offering or feature set to replace more and more complementary tools.
The all-in-one's, end-to-end's, and multi-product suites.
Example: @NotionHQ, @intercom, @close, @salesforce, @HousecallPro
Obviously, products can fit in multiple categories. This framework could even be used as a sort of mix and match exercise.
What's missing?
Is this a viable way of thinking about products?
How can it be phrased/worded better?
Is it helpful?
What's missing?
Is this a viable way of thinking about products?
How can it be phrased/worded better?
Is it helpful?
