A counterintuitive challenge

#50 - Feb.2023

It might be counterintuitive but managing well-established and mature products is way more difficult than dealing with the ambiguity of new ideas.

You might think about what could go wrong for a mature product that already has a clear value proposition, market-fit coverage, and a well-tested strategy.

But is precisely this status quo that signals an upcoming decline. Extending the lifecycle of a product at this stage requires to re-think what's really important for customers.

You might go different ways: either diversify (evolving into new products or features) or declutter (going back to the essentials). Either way, you need to act fast and this is one of the most demanding stages for a product team. You will need to deal with customer expectations and biases on what should, or should not, be the next step.

Let your customer's needs guide your decision. Active listening and in-depth understanding, as in the early stages of the product lifecycle, become key for long-term growth.