How Service Companies Can Benefit from Product Initiatives
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Why every Service company may want to look at a few product innovations.
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How Service Companies Can Benefit from Product Initiatives
- 1. About Me 1. Serial entrepreneur – co-founded two companies in India and two in USA 2. Current company – iMorph – Tools for Information and Intelligence 3. One of the mentors at Nasscom Mentoring Group in Chennai 4. Started and run the Startup Special Interest Group at TiE Chennai 5. Mentor a few product companies 6. Chief mentor of an Innovation Cell at an Engineering college in Chennai 7. Code for fun
- 3. Services Are A Great Way To Start a Business
- 4. Services Have Less Risks
- 5. Services Marketing Is a Well Established Process
- 6. Services Business Models Are Proven
- 7. Services Delivery Models Are Well Established
- 8. Services Have A Few Problems
- 9. Services Heavily Rely On People
- 10. Services Margins Diminish As More Competitors Arrive
- 11. Service Revenues Depend On People’s Time
- 13. Products Have A Higher Risk Profile
- 14. Products Have A Higher Potential Reward
- 15. Products Require A Culture of Innovation
- 16. Products Have A Different Development Model
- 17. Products Have A Different Business Model
- 18. Products Have A Different Delivery Model
- 20. Products Require Understanding A Domain
- 22. Products Require Understanding Customer Needs
- 23. Products Require Understanding Customer Needs
- 24. Products Are Easier to Scale
- 25. Products Depend On Innovation and IP
- 26. Products Depend On Finding a Niche
- 27. Products Depend On Finding Funding
- 28. Products Depend On Exploration
- 29. However Once You Get A Successful Product
- 31. You Have Higher Market Value
- 32. You Are Less Dependent On Head Count
- 33. You Can Afford to be Small
- 34. So, How Do We Go From Services to Products?
- 35. Products As Lead Generators for Services
- 37. Products Delivered As Services
- 38. Products Generate Service Business
- 39. Next Steps?
- 40. Thanks Dorai Thodla dorait@imorph.com Twitter: @dorait
Notes de l'éditeur
- Why Service Companies Can Benefit from Product InitiativesIn this interactive brainstorming session we will discuss how a service company can benefit from product initiatives. We talk the why, what and how of getting started on products. 1. Differences between Services and Products2. Service Think vs Product Think3. Marketing Challenges for Services vs Products4. What is a Product Initiative5. Can Service companies benefit from products?6. How do you Bootstrap a product initiative in your company?7. How do you align your product initiatives to benefit services8. How can you do an Innovation Sprint?9. How can you conduct a Product Sprint?10. Next stepsDoraiThodla is a serial entrepreneur. He co-founded two companies in India and two in US. Starting as a consulting company, his companies moved from services to products and augmented products with services. He currently helps companies bootstrap product initiatives, advices companies on product and market strategies (mostly selling in US). He strongly believes that building a product innovation culture in a company will help services businesses. His company tracks several emerging technology trends including Cloud Computing, Mobile Computing, Social Computing and opportunity mapping. He spends half his time in US and the other half in India. In addition to running a product company, he is part of:1. Nasscom Mentoring Group in Chennai2. Started and runs the Startup Special Interest Group at TiE Chennai3. Mentors a few product companies4. Chief mentor of an Innovation Cell at an Engineering college in Chennai5. Codes for fun when he has free time and spends a lot of time mentoring students