Ikigai (生き甲斐) is a Japanese concept that translates to “a reason for being.” It’s often interpreted as the source of value in one’s life or the things that make one’s life worthwhile. At its core, Ikigai is the intersection of what you love, what you are good at, what the world needs, and what you can be paid for.

Is it possible to extend this concept to a product? Here is my attempt at Product Ikigai, which makes a product fulfilling and has a sense of purpose.

🌟 Spark (Passion)
This is the product’s core idea that you and your team are passionate about.

💹 Gap (Market Need)
This represents the market opportunity or need that the product aims to address.

💰 Legacy (Monetization)
This is the product’s economic value, ensuring a viable business proposition with lasting impact.

✅ Craft (Team Excellence)
This is the technical excellence and expertise your team brings to the product’s development.

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✴ Spark + Gap = Desirability
The product’s potential to attract users to meet an unfulfilled need in the market.

✴ Gap + Legacy = Viability
The product that fulfils the market gap and has a sustainable business model for a lasting legacy.

✴ Legacy + Craft = Feasibility
The practicality of producing & maintaining a product with the team’s expertise.

✴ Craft + Spark = Usability
This is about the product’s easy, intuitive, and engaging user experience due to the innovative design thinking approach.

How do you balance desirability, viability, feasibility, and usability to create products that are not just market-ready but also loved by users?

Share your secret stories.

#Product #ProductDevelopment #ProductManagement #ProductStrategy