While I was pursuing my masters in computer application, Whenever I hear the word, product. This word always used to filled up my mind with a lot of questions like-
What is a product?
What is a right product?
What is a perfect product?
How to create a successful product?
and many more..
After finishing my MBA, When I myself become a product manager, I came to know the answers to such many questions.
Almost anything can be product, for instance, the laptop I'm using to write this article is a product and in the same the device you're using to read is also a product. It can be in the form of software or hardware and in the same way it can be tangible or intangible.
Lets talk about the top 5 IT companies in the world.
There was a time when Apple CEO Tim Cook publicly apologised and advised people to use other company's product instead of Apple. Yes, I'm talking about Apple maps. Apple published an apology letter on its Canadian website.
Many folks will certainly claim that Facebook is a perfect product. But let me tell you, Facebook had killed 10 Products till 2014.
I believe, many of my fellow tech-people must already be aware of that Google has killed more than half of the products either he created or acquired.
Google has a long list of failed products. Even once, Steve Jobs met Google than CEO Larry page and advised him to cut down the product list.
The company who made people across the world believe that operating system means Windows, has a long history of creating failed products. Many folks claim that there Microsoft's every second product has bugs.
All I'm trying to prove is that there is no guarantee that you'll be able to create a perfect product even if you have the world's best technology/design/production/operation/research teams in house, or you have all the resources and money needed.
On the other hand, there are companies who doesn't have all the things they need but they still manage to pull of a great product.
Its the company who hit $912 million in sales.
Today, about 350,000 organizations use our tools. We have 9,000 employees worldwide and $912 million in revenue. In our 43 years, we have never missed a quarter. We've never had any layoffs; we've never had any downsizing. It's just been very conservative, systematic growth, tells ESRI founder Jack Dangermond
Its the company who hit $400 million in revenue and growing 43% approx. yearly.
Its an email marketing service that has been around for 16 years and has more than 8 million customers(including me), mostly small businesses, who send out a whopping 15 billion emails each month
My two cents, Its almost impossible to create a great product every time even if you greatest resources in the world. Anybody can create a great product by focusing on one problem at a time.
Image credit: https://esharath.wordpress.com/category/product-manager/