A successful product effectively balances desirability, feasibility and viability.
Have you noticed how many crowdsourcing hits fail to bridge the chasm between viral video and sellable product?
I’m going to pick on one that really intrigued me when I saw the video two years ago – Panono. They made a ball that held 36 cameras and could be tossed into the air to take a panoramic picture at the top of flight. Their YouTube video was viewed 3.5 million times and their Indiegogo campaign raised $1.25 million dollars.
Their software, sensors and cameras worked, but the hardware was a bunch of cameras wired into a Styrofoam ball. People were curious about the ball and probably a bunch of them would want one. The campaign put a theoretical price tag on it just north of $500. Pricey, but if you squint, this seems like a price a bunch of people would pay.
I think this idea is brilliant, so all of the mean things I’m about to say are to illustrate a point, not to pick on Panono.
One of the most powerful Venn diagrams we use to evaluate the chances that a product will succeed overlaps desirability, viability and feasibility. If you haven’t figured out one of the three, you have work to do. Our researchers, business strategists and industrial designers take the first two in isolation – desirability and viability – when making a business case. Or to say it another way, someone has to want your product but they also have to be willing to pay for it. Crowdsourcing platforms and Lean experiments are great ways to understand what people want and what they are willing to pay for something.
And then you send in the engineers. Our first task is the fun one – figure out how to make your baby work. That’s the feasibility pillar of the Venn diagram. Can we come up with the right mechanism, the right system integration, a clever arrangement of parts or a unique material to turn that idea into a proof of concept? This challenge is why most of us became engineers. That and we get to make really awesome rainbow-colored FEA pictures.
Then the fun ends. That’s because to this point we have only pegged the theoretical viability, not the practical viability. Your business model identified a price that people are willing to pay. Now the engineers and
When we succeed and a product hits the shelves, it’s this work that gives the deepest satisfaction.
Let’s talk about how we can help move your business forward.