What is Product Discovery

The key product management skills:

Product Discovery is the most critical area for a Product Manager.

You should know how to:

• Explore the Problem Space to understand and define opportunities (problems, needs, desires),
• Explore the Solution Space to brainstorm possible solutions, formulate testable assumptions, and plan experiments to prove or disprove those assumptions.
• Identify high-risk assumptions about value, usability, feasibility, viability, and ethics to tackle them before implementation.
• Work with both new and existing products.

Managing risks

Let me tell you a secret. ****In product, the simple truth is that most of your ideas are not going to work.

According to Marty Cagan,

„The first truth is that at least half of your ideas are just not going to work” - Inspired

According to Inspired, good teams assume at least three-quarters of their ideas won’t perform as they hope.

Why does it happen?

I’d argue that Product Management is, at its heart, about managing risk. And for every product, there are 5 risks that can materialize:

• Value. Will it create value for the customers?
• Usability. Will users figure out how to use it?
• Viability. Can our business support it?
• Feasibility. Can it be done (technology)?