The value of a product is determined by two factors:
- The value of the problem it aims to unlock
- The amount of that value the product unlocks for users
To create a product that matters, seek first to identify and understand a high-value problem (ie. a problem worth solving).
A high-value product (HV) fully unlocks a high-value problem.
Conversely, a low-value product (LV) falls into one of three buckets:
- Partially unlocks a low-value problem
- Fully unlocks a low-value problem
- Partially unlocks a high-value problem
The ability to fully unlock a problem is a function of two factors:
- Depth of understanding of a problem
- Ability to design and craft a solution
Resist the temptation to fixate on solutions.
Complete solutions are the result of complete understanding.
Focus on understanding the problem.
Do that, and solutions will inevitably come into focus.