Product managers often rely too heavily on very narrow views of market input to decide what features are built into a new product or new release. While the usual stakeholders, including executive and existing customers, deserve to be heard, product managers often over correct their input results in product releases that only satisfy a very small group of potential buyers.
Meanwhile, competitors seem to fluidly introduce new products, releases and ideas that gain acceptance immediately with higher adoption targets. It’s not luck.
The competition isn’t inherently smarter and it’s not because its product teams are smaller (or larger). They simply throw away more ideas than they build.
You can do the same with market discovery, a technique that provides a bigger and better pipeline of market problems, new market opportunities and a method to validate them.