As we wind down 2022, we took a trip down memory lane to see which of our Vecteris blog posts were the most interesting to our audience. Here's what we found:
Filled with research, facts, and quotes from our actual clients, it is clear that what is most important to our audience is: budgeting for productization, how to productize your services, and creating that first MVP to test with the market.
Enjoy these posts, and we hope you have a stellar 2023! Let’s hit the ground running.
1. How Much Should You Budget for Product Innovation?
At Vecteris, we encourage our clients to develop a healthy mindset acknowledging that what matters more than the budget itself is how effectively the budget is managed. And research shows that budgets of all sizes can still successfully develop and launch products.
"While we often believe that more time, money, or talent will help us innovate more successfully, innovation flourishes within challenging, but appropriately-prescribed constraints."
2. Productization: Turning Services Into Products
Productization is an increasingly popular strategy for many business services firms to scale and grow. How can you turn your current offered services into products?
"What do we mean by product? For Vecteris clients, a product is a scalable, often tech-enabled, tool or program that can be standardized, packaged and sold."
3. How Do Professional Services Firms Scale Expertise?
A hot topic for services firms: moving from customized one-to-one interactions with clients into one-to-many. We outline the framework, and important questions to ask, as you transition into productized services.
"For a new product to succeed, it must be compelling enough that a significant segment of the market will prefer the product in preference to services"
4. Why Abundance Thinking is So Important for Productization
In order to productize your services, you must change your way of thinking. Step away from the scarcity mindset, and teach yourself to embrace saying “Yes” to more.
"To successfully productize, most organizations need to say yes to more: serving more customers, asking more questions, and collaborating with more people."
5. What Kind of MVP is Right for You (Yes, There is More Than One Kind of MVP)?
Let’s discuss the three most common methods of MVPs that our clients use to answer technical questions about their product, validate their team’s hypotheses, and get a real feel for the viability of their product in the current market.
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"An MVP is not a smaller, cheaper version of your final product. It allows you to test your product in real life with real people in order to validate the product’s core value."