The Next Big Thing: From Toy to Disruptive Technology

The Next Big Thing: From Toy to Disruptive Technology

"The next big thing will start out looking like a toy." This statement holds true when we examine the history of disruptive technologies. Clay Christensen's theory of "disruptive technology" highlights the fact that these game-changing innovations are often dismissed as mere toys in the beginning. The reason behind this dismissal is that disruptive technologies initially fail to meet the full range of user needs. However, to distinguish between toys that remain insignificant and toys that will revolutionize industries, we must view products as processes.

One crucial factor that contributes to the rise of disruptive technologies is the continuous improvement of external forces. For example, microchips are getting cheaper, bandwidth is becoming ubiquitous, and mobile devices are getting smarter. These advancements create a fertile ground for disruptive technologies to flourish. To be truly disruptive, a product must be designed to ride these changes up the utility curve. It needs to leverage the evolving external forces to surpass user needs and expectations.

A prime example of a disruptive technology that operates as a process is Wikipedia. Every day, this online encyclopedia is subjected to edits from spammers, vandals, and individuals with questionable intentions. However, despite these challenges, the dedicated contributors work tirelessly to improve Wikipedia at an impressive speed. The key here is the process speed, where the good people working on Wikipedia outpace the efforts of the bad actors. As long as Wikipedia keeps getting better, it will eventually meet and surpass user needs for encyclopedic information.

Contrary to popular belief, startups with sustaining technologies are unlikely to dominate the top lists in the year 2020. The true contenders for the next big thing will be those armed with disruptive technologies. These technologies often go unnoticed because they are initially dismissed as toys. However, if a technology is genuinely innovative and offers clear benefits, it will eventually attract attention and inspire others to follow suit.

Understanding the essence of product management is crucial in the quest for disruptive technologies. It is essential to clarify what product management is not. Firstly, product management is not about defining the business case. Instead, it focuses on understanding the needs of the people who will use the product. Market requirements do not exist; it is the individuals within the market who have requirements. To successfully define a product, the product manager must directly engage with the target audience.

Secondly, product management is not about requirements gathering. While this task may seem similar to defining market requirements, it is fundamentally different. Product management entails discovering a product that is useful, usable, and feasible. It goes beyond collecting a list of features and delves into understanding the core problems that need to be solved.

Furthermore, product management is not synonymous with project management. These two roles require distinct skill sets and mindsets. Project management focuses on the delivery of a product, ensuring that it is completed on time and within budget. On the other hand, product management focuses on the discovery of a product, determining its viability and desirability in the market. Rarely do individuals possess a natural affinity for both roles, as they require different approaches and perspectives.

Lastly, product management is not product marketing. While marketing activities play a crucial role in the product's success, product management is not solely concerned with pricing, promotions, positioning, messaging, or product launch activities. Instead, the product manager's primary responsibility is to uncover a product that meets the needs of users. If this goal is achieved, the product manager has fulfilled their role. However, if a product fails to meet user needs, investing time and resources into building and launching it becomes pointless.

In conclusion, the next big thing often starts out being dismissed as a toy, but it has the potential to become a disruptive technology. By recognizing products as processes and understanding the role of external forces, we can identify the technologies that will shape the future. Additionally, understanding the true nature of product management is crucial in this pursuit. Product management is about discovering products that are useful, usable, and feasible, rather than defining market requirements, gathering project requirements, or engaging in product marketing activities.

To leverage this understanding and foster the development of disruptive technologies, here are three actionable pieces of advice:

1. Embrace the role of disruption: Instead of dismissing innovative ideas as toys, explore their potential to disrupt industries. Look for products that are designed to ride the wave of evolving external forces and exceed user needs.

2. Foster collaboration: Product managers should actively engage with users and stakeholders to understand their needs and pain points. By establishing direct lines of communication, product managers can ensure that the products they develop address real-world problems effectively.

3. Focus on core problems: Rather than getting lost in a laundry list of features, product managers should prioritize understanding the core problems that their products aim to solve. This approach will lead to the creation of truly useful and impactful solutions.

By following these actionable advice, we can tap into the true potential of disruptive technologies and pave the way for the next big thing.