Which new product development project should we do first?

X: Of the pool of candidate new product development projects, which project should we do first?

Me: Let’s do the one that makes us the most money.

 

X: Which project will make the most money?

Me: The one where the most customers buy the new product, pay a reasonable price, and feel good doing it.

 

X: And which one is that?

Me: The one that solves the most significant problem.

 

X: Oh, I know our company’s most significant problem.  Let’s solve that one.

Me: No. Customers don’t care about our problems, they only care about their problems.

 

X: So, you’re saying we should solve the customers’ problem?

Me: Yes.

 

X: Are you sure?

Me: Yes.

 

X: We haven’t done that in the past. Why should we do it now?

Me: Have your previous projects generated revenue that met your expectations?

X: No, they’ve delivered less than we hoped.

Me: Well, that’s because there’s no place for hope in this game.

X: What do you mean?

Me: You can’t hope they’ll buy it.  You need to know the customers’ problems and solve them.

 

X: Are you always like this?

Me: Only when it comes to customers and their problems.

 

image credit: Kyle Pearce

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