Thanks everyone who attended the PMIWDC Tysons luncheon meeting. I enjoyed meeting everyone and the follow up questions. Introduction The ability to create successful new products is vital for companies that want to remain competitive. Doing this in a consistent way requires a deep understanding of customer needs and wants, the competitive environment, and the nature of the market. Companies with the best track record of consistently creating successful products have adopted a well-defined process that integrates the roles of product management and project management. This session discusses why it’s important for product vendors to grow strong, committed product teams and implement a well-defined process to consistently build new products that customers demand to create a competitive advantage. Contact me if you have any comments or questions regarding this material. Let me know how I can help you transform new products to revenue streams for your company. Regards, Hector Del Castillo, CPM, CPMM Product Innovation Consultant Bold PM Contact: hmdelcastillo [at] gmail [dot] com Connect: http://linkd.in/hdelcastillo

1. © 2015 Hector Del Castillo, All Rights Reserved.
PMIWDC Tysons Luncheon Meeting:
A Practical Approach to Successful New
Product Development Initiatives
Introduction
The ability to create successful new products is vital for companies that want to remain competitive. Doing this
in a consistent way requires a deep understanding of customer needs and wants, the competitive environment,
and the nature of the market. Companies with the best track record of consistently creating successful
products have adopted a well-defined process that integrates the roles of product management and project
management.
This session discusses why it’s important for product vendors to grow strong, committed product teams and
implement a well-defined process to consistently build new products that customers demand to create a
competitive advantage.
Key Takeaways
1. Set a compelling direction.
2. Build a great team.
3. Adopt a playbook.
4. Solve the right market problem.
5. Test your business model
6. Focus on customer acquisition.
7. Develop quickly and responsibly.
8. Customers decide what’s MVP.
9. Use metrics to persevere or pivot.
About Hector Del Castillo
Hector transforms ideas into a great business. He helps executives, senior managers and entrepreneurs
strengthen product portfolios, sharpen value propositions, and create new revenue streams to accelerate
business growth.
Hector helps founders, entrepreneurs, inventors, makers, investors, business leaders and community leaders
connect, share, and learn from each other to create products customers love. Connect with Hector to learn
how he can help you ensure your business or products are on the right track.
Upcoming Workshops
Personal Brand Deep Dive
June 9, 2015, 5:30 – 9:30 p.m., McLean, VA
Business Model Deep Dive
June 11, 2015, 5:30 – 9:30 p.m., McLean, VA
Upcoming Activities
PMI-MoCo Dinner Meeting: “Why Montgomery County
Must Transform Its Business Ecosystem”
Wednesday, May 6th, Potomac
Join thought-provoking discussion on how to ignite
business growth in Montgomery County.
Register: http://bit.ly/pmimoco506
1-on-1 Office Hours
Thursday, May 7th, Gaithersburg
Set up a 30-minute appointment to discuss options to
overcome your specific business challenges.
Register: http://bit.ly/101oh507
Connect: http://linkd.in/hdelcastillo
Contact: hmdelcastillo@gmail.com
Handout:
Slides: