Is Your Product Pipeline Too Cluttered to Find the Best Opportunities?
Learn how to determine which product ideas have the greatest potential!
I AM READY!
Sound Familiar?
You have many new product ideas, but...
- It is difficult to determine which product ideas are likely to lead to financial success.
- You have no gatekeeping process in place to determine which ideas should move forward.
- Many recommendations reflect personal preferences or pet ideas.
- Product ideas are specific to a single customer.
- Product ideas are specific to a single sale.
- You have limited development resources and cannot develop all incoming product ideas.
- Risk for every product idea is not well formulated or adequately taken into account.
- Business Leadership cannot easily differentiate between product ideas, since most lack financial data.
- Product Development teams initiate projects without input from business leadership.
- Product Development Efforts fail because financial or market conditions are not accounted for prior to starting.
Selecting The Best Product Ideas will...
- Drive Long Term Success
- Focus Development on the Products that are most likely to Succeed.
- Eliminate Wasted Effort!
- Help Focus the Organization on the Long Term Needs of Customers.
- Allow the Organization To Grow.
- Allow Products to be better than those of Competitors!
- Provide Tighter Integration between Development and Business Teams.
What's Included In The Course...
SECTION 2
Defining Market Opportunity and Target Penetration
Dive into a dynamic exploration of cost control, empowering your team to optimize resources with strategic financial know-how!
- Understanding Market Size: Learn to define total addressable market (TAM), serviceable addressable market (SAM), and obtainable market (SOM) to accurately evaluate the opportunity for your product.
- Use of Industry Metrics: Explore how to leverage industry reports or parametric methods, such as linking demand to metrics like consumer trends or economic indicators, to estimate market size effectively.
- Setting a Target Market Share: Build skills in establishing a realistic market share goal by evaluating competitive positioning, growth opportunities, and achievable penetration rates.
- Linking Insights to Forecasts: See how these elements combine to create reliable post-launch sales projections, grounding your business case in actionable data.
With these insights, you'll be able to determine well-founded market size inputs, enhancing the accuracy of your business case.
SECTION 3
Shaping Your Business Case: Revenue and Costs
Learn to construct a solid financial framework for your business case by evaluating time horizons, costs, and revenue streams, enabling sound investment decisions.
- Picking the Right Time Frame: Explore how the time frame impacts investment feasibility, learning to select a horizon that aligns with your product's lifecycle and strategic goals.
- Tracking All Costs: Learn to include expenses such as development, marketing, sales, prototyping, and customer giveaways for a comprehensive cost overview.
- Projecting Sales and Profits: Leverage market size insights to project revenue and evaluate income for clear financial outcomes.
- Connecting the Dots: See how these elements work together to form a clear profitability picture, grounding your strategy in solid data.
With these insights, you'll provide well-founded cost and revenue inputs, enhancing your business case with dependable projections.
SECTION 4
Assessing Profitability: Tools for Business Validation
Dive into the process of analyzing your business case, building a resilient financial plan.
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Harnessing NPV for Decision-Making: Understand how Net Present Value (NPV) evaluates the profitability of your business case by discounting future cash flows to their present value.
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Selecting the Right Discount Rate: Learn to choose a discount rate that aligns with your project’s risk profile and market conditions, ensuring realistic NPV calculations.
- Stress Testing Your Business Case: Explore techniques to stress test your business case under different economic or operational conditions to gauge its durability.
These tools will enable you to enhance your business case for sound strategic planning.
SECTION 5
Business Case Strategy and Implementation
Learn to strategically assess and implement business cases within your organization, by strategically ranking and integrating them into regular workflows.
- Picking Winners: Develop techniques to evaluate and rank business cases, balancing NPV with their potential to drive your product strategy forward.
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Harmonizing with Big-Picture Goals: Learn to prioritize business cases that propel your company’s strategic vision, so that financial metrics like NPV are not the sole driver.
- Forging a Cohesive Approach: Understand how to build repeatable processes for business case use, fostering efficiency and coherence across your organization
These tools will help you prioritize and integrate business cases effectively, strengthening your product strategy and development processes.
Tested Approach for Using Business Cases to Validate Product Ideas!
- Regularly used at multiple divisions of an Oilfield Equipment Supplier
- Used to Analyze Many Different Product Ideas
- Used for different Industries
- Accepted Approach by Finance Team
GET STARTED TODAY!
SHARPEN YOUR PRODUCT STRATEGY WITH BUSINESS CASES!
