Let’s say you are a PM at our firm and we decide to launch a social network for travel and make you the PM for that. How will you go about doing it. What are the things you will evaluate.
First I would try to understand what problem are we trying to solve. Is it reviews of places to go by location? Is it meeting up with other people that are also traveling? Is it a part of a larger social network and a group for travel. I firmly believe the biggest part of being a product manager is first understanding the problem that you are trying to solve.
Next, I would understand, who are my customers? Who would use this? Why would they use and what benefit would it provide them?
Let’s assume for this case, it i meeting up with other people who are also travelling. So essentially, my target segment will be people who like to travel and are looking for company for the same. Now this network would help them to get company on the trip, make new friends, try out different adventures etc. So this builds the use case for me. Now I would think of user scenarios such as if the user wants to experience new adventures then what will be his need. He would want to be able to understand the different things others are doing and then based on his liking pick the group which is getting involved in activities he is interested in. Similarly, I would try to create multiple user scenarios to understand the full scope of the product.
Then I would start trying to understand how this would make money. Can we monetize it? Is it all ad revenue? E.g. in this case can I provide customers wanting to engage in adventurous activities some guides/trainer or can I help them book them those activities via my website? Can I start selling equipment required for this via my website to cross-sell? I would evaluate multiple such aspects to monetize my website.
Once I have all of this information, I would start working on my MVP. I would try to determine what is the minimum we need to get results and understand that what we are doing is going in the right direction or whether we need to pivot or keep going with this solution.