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Product Discovery Framework

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Overview

Product discovery is how we identify, validate, and prioritise product opportunities. This framework ensures we build the right things for our customers in broker services and wealth management.

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Discovery Process

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1. Opportunity Identification

Sources of opportunities:
  • Customer feedback and support tickets
  • Market trends and competitive analysis
  • Regulatory changes and compliance requirements
  • Business goals and strategic initiatives
  • Technical debt and system improvements
  • Data analytics and usage patterns
Activities:
  • Customer interviews (quarterly cadence)
  • User research sessions
  • Market analysis reports
  • Stakeholder input sessions
  • Analytics review

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2. Problem Definition

Use Jobs-to-be-Done (JTBD) framework: 
When [situation],
I want to [motivation],
So I can [expected outcome]
Example (Wealth Management): 
When reviewing client portfolios at month-end,
I want to generate comprehensive performance reports quickly,
So I can spend more time on client advisory instead of manual report creation
Key Questions:
  • What problem are we solving?
  • Who experiences this problem?
  • How often does it occur?
  • What is the impact if we don’t solve it?
  • What are customers doing today as a workaround?

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3. Solution Exploration

Approaches:
  • User Story Mapping - Map the customer journey
  • Opportunity Solution Trees - Explore multiple solution paths
  • Competitive Analysis - Learn from market solutions
  • Technical Spikes - Validate feasibility
  • Prototyping - Build quick mockups for feedback
Collaboration:
  • Work with UX Designer for user flows and prototypes
  • Consult CTO on technical feasibility and architecture
  • Review with CMO for market positioning

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4. Validation

Methods:
  • Customer Interviews - Validate problem and solution fit
  • Surveys - Quantify demand and willingness to pay
  • Prototype Testing - Test usability and value
  • A/B Tests - Validate hypotheses with real data
  • Beta Programs - Launch to subset of users
Success Criteria:
  • Clear customer pain point articulated
  • Solution addresses core JTBD
  • Measurable success metrics defined
  • Technical feasibility confirmed
  • Business value quantified

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5. Documentation

Output: Product Requirements Document (PRD) Required sections:
  • Problem statement
  • Target users and personas
  • User stories and acceptance criteria
  • Success metrics
  • Technical considerations
  • Go-to-market plan
  • Timeline and resources
Template: /templates/prd-template.md

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Financial Services Considerations

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Regulatory & Compliance

  • Identify regulatory requirements (FINRA, SEC, etc.)
  • Document compliance needs upfront
  • Involve legal/compliance team early

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Security & Privacy

  • Data protection requirements
  • Authentication and authorization needs
  • Audit trail and reporting
  • Encryption and security standards

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Risk Management

  • Financial transaction accuracy
  • System reliability and uptime
  • Business continuity planning
  • Vendor due diligence

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Discovery Cadence

  • Weekly: Review customer feedback and support trends
  • Monthly: Customer interview sessions (3-5 interviews)
  • Quarterly: Market analysis and competitive review
  • Ad-hoc: Respond to urgent business needs or regulatory changes

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Tools & Resources

  • Customer interview guide: /templates/customer-interview-guide.md
  • User story template: /templates/user-story-template.md
  • Research report template: /templates/research-report-template.md
  • Opportunity solution tree template: /templates/opportunity-solution-tree.md

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Success Metrics

  • % of features validated with customer research
  • Time from opportunity identification to PRD completion
  • % of shipped features that meet success criteria
  • Customer satisfaction with new features (NPS, CSAT)