33. What Is A Product?

non-technical founder product management tech terms explained Feb 10, 2021

When was the last time you said to yourself "today, I really want to use a glass?" Probably, never.

Yet, you've used a glass many times to solve the problem of bringing a liquid to your mouth.

In the context of technology, it’s so easy to think of a product as an app, or a site or an algorithm. But, that’s actually the backwards way of doing it.

Every product is a solution to a problem experienced by a human.

For example, if you want to take a sip of water, or this delicious looking cocktail, you use a glass. You don’t wake up thinking “today is a day I get to use a glass! Yey!”

If you do, then send me whatever you put in your cornflakes!

We can actually take this definition further and see an entire company as a solution to a problem. This is basically why companies get acquired: either because they make a solution or they are the solution.

This is the logic Walmart used when it acquired Jet.com for $3.3bn in 2016 to compete with Amazon.

By expanding the definition of what a product is, we can build companies and careers with more longevity.

Tune in to today’s podcast to delve deeper of what a product really is, and how successful companies have used it to survive and thrive.



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