How Good is Good Enough?

Wednesday, 21 October 2015 09:15
Blog author: 

Good can often be plenty good. It depends on how you choose to look at it.

Greetings!

"Perfect is the enemy of good enough" is often used in connection with efforts to balance speed to market with product design optimization. There can be much more to it than that.

Curious to learn more? Read on, dear friends...

While the case studies shared in the article are a bit dated, the message remains timeless: (target) customers only want to pay for the product features that they want and need based on how they intend to use the product.

Here is a hypothetical example that should help you to recognize similar situations that may occur within your own business:

Acme Company is simultaneously juggling performance, price and timing considerations for an externally sourced hair trimmer product. Choosing from among the various available product candidates seems complicated at first as no one on the Acme team wishes to knowingly sacrifice product functionality in order to hit their target price point. However, once the team focuses on the specific needs of the target customer and the particular functions this customer needs the product to perform (young men who trim their neck hair and side burns weekly between regular haircuts), the preferred product choice becomes quite clear as it represents the best balance between performance, cost and timing.

Specifically, because the trimmer is targeted for use by a customer group that will use it primarily for the select tasks described above, there is no need for it to be water-immersible. Nor is there a need for it to have more than 2 speeds. It should be battery powered and rechargeable. The team's product choice becomes clear.

We may not be able to get exactly what we want all of the time, especially when dealing with externally sourced product candidates. However, by remaining focused on our target customer's needs, our best options should become much more apparent. This in turn, should greatly enhance our decision making.

"Connecting You With The Right Solutions" BFS Innovations, Inc.

Since 2005, BFS Innovations has helped its Fortune 500 clients with technology scouting, new business creation and development services. Contact Michael today at This email address is being protected from spambots. You need JavaScript enabled to view it. or at 614 937-2408 to discuss your company's needs.


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