Source | Linkedin.com | BY:Nitin Vig, @mckinsey
Every executive and startup founder yearns to create the next blockbuster product: a product that generates colossal revenues, drives blistering sales and creates insatiable demand. But creating such a product is like achieving the near impossible. A blockbuster product – $1B+ in run-rate sales – is virtually impossible to foresee. Yet patently evident at first sight. And blatantly obvious with hindsight.
To create such a product, you perform a myriad tasks – you start a company. Hire top talent. Build the product. Market it. Sell it. The list goes on. Name a task. There’s a good chance, you do it. But these tasks consume precious time. Yet do not provide equitable returns. For example, in early stages, product definition provides higher return than marketing. But at a later stage, this may change.
So how should you prioritize your tasks? Determine their returns? Is there a task that is of supreme importance? That will create the block