How do you actually deliver on this? How do you know you’re delivering this right? And that’s where execution and measurement comes in. And that’s the last element of radical product thinking framework. Because even when you have this vision, strategy, execution, and measurement is really kind of how you figure out, is your approach working? Your strategy until that point is still just a hypothesis. It’s your best guess that if I do this, right, you know, this will work and my business will go well, my products will be successful. Execution and measurement is where you can actually test these hypotheses.
And so you know, each element of what I just talked about: your real pain points that have a certain design and capabilities and logistics that you attached to them, now you can write hypotheses for each of those elements. And you can say, Okay, so what would I measure to be able to test these hypotheses? So I’ll give you an example. Let’s say maybe you are… Oh! Let’s go back to this example of the question that you were asking, right, that someone can come to this question on your website and ask a question and get an answer. Well, how would you know if that is successful? Presumably, you know, in this case, the pain point is that this is a hard-to-answer question that you can’t just Google and get the answer to.
And then in terms of, What’s the design for it? Well, you have the knowledge and you’re giving them this answer. That’s part of your capabilities as well. And then in terms of logistics, there’s a business model associated with it. And so the idea is for each of those elements, how do we measure if that’s working? So if this is a real pain point, that people need this question to be answered, then a lot of people will be coming to the site and then asking that question. And then there’ll be repeat customers who come back and ask repeat questions, because they’re getting what they need.
So those are two metrics, for example, that would prove out if the solution is working, because people are coming back, and that there is a real pain point. So this is just one example. You know, you have hypothesis, basically. And then you measure based on that. The one thing I just want to highlight and what in this example that I gave, I wasn’t just measuring all these popular metrics, which is oh, what’s the revenue and the time spent on site? Like, all of these metrics that other companies might be measuring, those may or may not be the right things for your business. And so having this really clear strategy where you know what are the pain points, and what you’re setting out to solve, gives you a very clear advantage in terms of being able to know how to measure success and what is success for you.
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