Product Space
How to start producing new products?
In making new products and services there is a 'chicken and egg' dilemma:
What could be a potential solution?
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What if we could identify products you do not currently make but for which you already possess most of the needed capabilities?
- How do you make a product if you don't know how to make it (you don’t have all the letters)
but also
- How do you know how to make a product if you don't make it (why would you have a letter that is not being used?)
This is why we created the 'Product Space':
A map of all products that helps identify which potential products are closest to the products already made in a place, in terms of required capabilities.
In the Scrabble analogy:
Although a zebra and a lion may be more closely related in nature, in our analogy where letters represent production capabilities, a zebra is essentially a bear with an added 'Z.' Therefore, if a place already produces the letters for a bear, it would be much easier for it to transition to producing a zebra and adding the missing capability in the letter 'Z' within the product space
