“For anyone in business, the rapid cycling of their valued products into generic stuff is a dark and constant fear.” – Kevin Roberts
One of the reasons why many firms are shifting from a Project-Minded investment and management approach towards a longer-term Product-Minded investment and management approach is because of the constant pace of change. Changing customer needs, technology, business models, competitive landscape and employee needs means that capabilities we build today could well be old in a year or two. For some industries, this might be better measured in months.
Ideas are being copied quickly. Consumers are fickle. Users are on to the ‘next best thing’ fast. As you build out your new product, software or service, give thought to how that might change over time and how you will continually refresh it to remain relevant.
Are you working on something today that will likely change quite soon? If so, have you considered how adaptable it is?