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