There are a number of ways that we can think about what makes a successful product. Let’s take a look at the first one-product as profit.
This definition is simple. It’s all about the profit potential and what it will take before the money starts rolling in. Product as profit is essential but incomplete. If this is the only motivation for developing a product, there will eventually be personal success tradeoffs that an individual will have to make. In the journey of product success, maintaining motivation and commitment depends upon a lot more than money. When a person is starting down the product success pathway, everything can be exciting in the short term, but unless other underlying psychological pieces of the puzzle are integrated (like autonomy, meaning, passion, positive relationships, love of learning, competency skills, maintaining some sense of balance) it’s just a matter of time until a singular product as profit approach will take its toll.
PRODUCT SUCCESS TOOLBOX: Product As Profit
Here are a few PRODUCT SUCCESS questions to ask yourself.
- If money was no object and I had as much of it as I needed, would I still be motivated to develop the particular product that I have chosen?
- What specific tradeoffs am I willing to make (time, family, relationships, other opportunities, friends, relaxation, etc.) to move forward with the development of my product.
- What are the most important psychological benefits that I gain from developing my product?
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