There are three ways to launch a product:
- Positive – where a product is launched and is incrementally improved upon. These are very rare.
- Negative – where launches are so bad they get rolled back.
- Middle – this is where most things launch and not many changes in the business.
What is the GIST model?
- Goals, which tell us what we are trying to achieve
- Ideas, which are hypothetical ways to achieve the goals
- Steps, that develop the ideas and test them
- Tasks, the things that fall out of the level of the steps to build
Good goals answer two questions:
- Where do we want to be and by when?
- How do we know when we are there?
Good Ideas take time:
- Everyone has ideas and most of these ideas are not very good.
- Even experts often misjudge what experiments will pay off.
- At Google and Bing, only 10-20% of experiments generate positive results
Things to know when you follow steps :
- At the stage of the step, we should validate our ideas as quickly as we can to generate results.
- For eg. If your core audience believes in your product, you’re good to go.
To know more about the GIST model for the product, do read the entire article: https://www.mindtheproduct.com/the-gist-framework-by-itamar-gilad/
We are also answering your doubts and questions related to your entrepreneurial journey with our experts, do send them here: https://sncoglobal.com/#q&a
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