How often have you seen companies working on the wrong things? How often innovation has taken resources over the main value proposition of the business, causing it to fail? My answer: too frequently.
Last month, Abbe Cohen visited Splash’s Madrid office. She’s one of our best product managers. We completed the exercise of categorizing by importance our business’ value propositions. The 3 categories are:
The most important offerings. They are the main reason for our clients to choose Splash. Without them in good shape, our company would eventually disappear. Examples:
Allowing guests to sign up for events and purchase tickets.
Allowing event hosts to manage their guest list effectively.
Providing excellent support to our clients.
The things that help us grow. More and bigger clients usually means more requirements and flexibility. Without these offerings, our expansion would be limited. Examples:
Allowing guests to modify their registration details easily.
Allowing hosts to customize the guest-facing experience entirely.
Providing 24/7 support.
These are areas to explore that could deliver value in the future. They might not be proven yet or might not be fully aligned with the current direction of the business. Through investigation and iteration, they might ultimately become very valuable. Examples:
Allowing guests to use a mobile app to interact among themselves during an event.
Integrating with 3rd party services for event logistics.
Implementing wikis, forums and FAQs to help our clients solve problems by themselves.
For companies to succeed, it’s crucial to work on the right things. This involves innovating and creating new value. Without a solid and maintained core, however, there’s no foundation to build upon.
For individuals, it becomes a life guide. But that’s a story for another post :)