MODULE 3—PROJECT HIERARCHY
WORKSHOP 1. Step 1: PRODUCTIZING your idea into an offering of value, begins with ORGANIZATION.
To actualize an idea into a product or service, and maybe even a company from the ground up, requires an integrated series of steps, that begin with ORGANIZATION. It is imperative to set up an initial project HIERARCHY— folders and files that will house the sets of documents, links, images and video clips you’ll find, and generate, for your new venture. This will keep everything in one location, and accessible to all pertinent stakeholders to prevent wasting time searching for docs, images and files that are randomly placed on your computer.
You begin to actualize your idea with an organized PROJECT [file] HIERARCHY. Much like a sitemap, LSM_Pic19 illustrates how to set up an effective file structure to stay organized as you actualize your offering, and you scale your marketing efforts, with a ‘place for everything, to put everything in its place.’
First, create a new folder titled, MY IDEA, or give your idea a working title.
Next, create another folder inside the first, titled, PRODUCTIZATION LISTS.
Open this folder, and create four more folders:
Features & Benefits
Target Markets and Target Users
Competition & Differentiators
and finally your projected Horizontal & Vertical Markets.
Create your actual lists in a Word program, or in a spreadsheet like Exel, or whatever text program you like to work in. Do NOT create these lists on Google Docs. PRODUCTIZATION lists should reside on your hard drive. Not Google’s cloud.
These lists will not only help you define your idea for yourself, and others, but they’ll be used throughout the life cycle of your business as direction and content for your marketing and advertising down the line. Fill these lists with bullet points of words and phrases SPECIFIC to your offering, and you’ll be able to use the content down the line for your websites, landing pages, and in email campaigns.
Productization lists should be dynamic, added to all the time, every time an additional feature is implemented, or a new benefit or solution uncovered. And the Productization process begins anew with every new product or service developed.
Every file you create should be put in their appropriate folder, so you never have to spend time trying to find specific documents or images, and you have a location to point others to when working with teams, or vendors.
Make sure to use a naming convention you will understand— that will help you identify every file and folder you create quickly and easily. Save yourself and your hires an enormous amount of time and energy by simply naming your folders, files, images, videos, and docs with titles that accurately describe their content.
Go back to your main PRODUCTIZATION folder, and in it, create another folder titled Elevator Pitch. You will fill this folder during the Productization process as well, with multiple drafts of a 5 – 15 second concise and exciting speech about your offering. Your Elevator Pitch should be dynamic, changing all the time as your offering develops, and always touting the best thing about your product or service, even if it’s on-sale for a temporarily lower price point.
And finally, create another folder under PRODUCTIZATION, titled Profit Models. You will create a profit model for your offering at launch, as well as a year, and five down the line during the last phase of the Productization process.
Additional folders will be added to your new venture in the following workshops, including product and corporate identity files you’ll fill with logos, taglines, and company brand standards. You’ll create a professional quality image library of stunning pictures and video clips to use in your advertising and marketing campaigns. And you’ll add files and folders of business contacts, marketing strategies, and logistics for launch and beyond.
In this initial phase of PRODUCTIZATION, the folders required for Workshop 1 are your 8 PRODUCTIZATIONS Lists, your ELEVATOR PITCH and your PROFIT MODELS.
MODULE 3—PROJECT HIERARCHY REVIEW
• BEGINNING your new venture with an ORGANIZED HIERARCHY of files and folders, all within the main folder for your offering, will save you a LOT time, and therefore, money.
• An ORGANIZED file system gives all stakeholders access to documentation and image libraries, insuring clear communication to everyone working on your new venture.
• Do NOT write or store documents on Google’s cloud. Google (and hackers) can access your information. Don’t let them!
• Store your main PROJECT FOLDER, with all related sub-folders and files, on YOUR connected network servers, like on your personal computer, and back up the PROJECT FOLDER often! As you scale, and need more connectivity to communicate globally, rent virtually space on Amazon Web Services, or other secure server providers.
Productizing SaaS or Cupcakes is the Same
Since many of you are hoping to learn to develop software ideas, in the next module, we’ll go through the PROCESS of PRODUCTIZING a peer-2-peer (P2P), software-as-a-service (SaaS) application.
The process of PRODUCTIZATION— the steps you must take to actualize an idea into a product someone will want— are the same whether developing chainsaws, cupcakes, or software services. To Productize your software application into a mobile service for profit, we’ll follow the exact same paradigm shown with the chainsaw. You’ll answer the same 3 primary questions: What is it? What does it do? And for who? And you’ll perform the step-by-step process of Productizing your idea into an offering of value, for profit.