The Next Big Thing: From Toys to Disruptive Technologies

The Next Big Thing: From Toys to Disruptive Technologies

"The next big thing will start out looking like a toy." This statement holds true as big new innovations often begin by being dismissed as mere toys. Clay Christensen's theory on disruptive technology sheds light on this phenomenon. Disruptive technologies are initially underestimated because they fail to meet the immediate needs of users. However, to differentiate between toys that are truly disruptive and those that remain insignificant, it is crucial to view products as processes. The speed at which these processes improve is a vital factor. Additionally, external forces such as the decreasing cost of microchips, the ubiquity of bandwidth, and the increasing intelligence of mobile devices play significant roles. A disruptive product must be designed to ride these changes up the utility curve.

A prime example of a disruptive process is Wikipedia. Despite being edited by spammers, vandals, and other malicious individuals, it continually improves at a faster rate. This consistent improvement aligns with users' needs for encyclopedic information, allowing Wikipedia to eventually surpass user expectations. It is worth noting that startups with sustaining technologies are unlikely to dominate the top lists in 2020. The ones that will emerge as leaders are the disruptive technologies that people initially dismiss as toys. This is because when a technology is truly groundbreaking and its benefits are evident, it garners attention and imitation.

Now, let's explore the necessary stages and tasks for a product's success according to a note by Fritz, a product manager at Mercari. The three stages that lead to the success of a product are problem definition, priority setting, and execution. These stages can be further broken down into 20 tasks from a product manager's perspective.

In the problem definition and strategic planning stage, it is crucial to identify the problems that need to be solved and develop strategies that address them. This involves gaining agreement from internal stakeholders. Once the problems are defined, the next stage is setting priorities. This involves understanding the gap between the ideal state and the current state of the product and determining the order in which projects should be tackled to bridge this gap. The final stage is facilitating the implementation of the strategies and executing the projects. This includes considering specific solutions, facilitating the team's efforts in designing the blueprint, and guiding the project towards completion. After the release, it is essential to evaluate the hypotheses and learnings related to the project.

To uncover the problems that will drive growth, it is crucial to identify the variables that have the most leverage. Understanding the product's vision, the value it provides to customers, and its unique selling points are vital for product managers. Strategies and approaches to problem-solving should be carefully formulated rather than jumping to solutions right away. Furthermore, gaining the support of stakeholders within the company is crucial during the strategy evaluation and execution phase. The project priorities must be determined, considering factors such as new features with promising potential, repeated user demands, the need for maximum departmental results, the accumulation of bugs that degrade the user experience, and the personal beliefs of the product manager.

Setting priorities can be challenging, but it is vital to determine the most critical issues for the product's growth. The product manager must explain and justify the chosen priorities, taking on the role of a problem evangelist. The team's expertise should be leveraged to consider various strategies. Brainstorming can be an effective tool in certain cases. Throughout the development process, the product manager must facilitate the different phases, such as conducting design briefs seriously, making decisions on UI/UX, and conducting user qualitative and quantitative research. Collaboration with the development and QA teams is crucial to ensure that the specifications and requirements are reviewed together.

Communication plays a crucial role in the success of a project. Clear and concise specifications that include a project background, the problem to be solved, the desired goals, and the expected effects must be communicated to the development and QA teams. Regular feedback on actions is essential for maintaining motivation. KPIs should be established, and tracking specifications should be defined to optimize communication with users, both internally and externally.

During development and release, the product manager should act as an assistant, overseeing project management, slimming down specifications, determining priorities, and ensuring that the project can handle edge cases. The QA stage and the start of A/B testing are also part of this phase. Once the project is released, internal announcements should be made to create awareness within the company. These announcements should cover what has been released, the expectations, the UX, and the team members involved.

Ultimately, the most critical step is the post-release retrospective. It is essential to evaluate the outcomes based on the initial hypotheses and determine the insights that can guide future projects.

In conclusion, the journey from a toy-like product to a disruptive technology is often underestimated. By viewing products as processes and recognizing the external forces that can drive innovation, we can identify the next big thing. The stages and tasks outlined by Fritz provide a comprehensive guide for product managers to navigate the path to success. To embrace disruptive technologies, it is vital to prioritize problem-solving, gain support from stakeholders, and facilitate effective communication within the team. By following these actionable pieces of advice, product managers can position themselves to embrace the next big thing and revolutionize their industries.