Mastering the Problem Space to Achieve Product-Market Fit by Dan Olsen at Mind The Product SF

Product management trainer, consultant and author Dan Olsen gave this talk on "Mastering the Problem Space to Achieve Product-Market Fit" at Mind the Product San Francisco July 2018.
This product conference is one of the most recognized product conferences. Dan Olsen is an entrepreneur, consultant, author, speaker, and expert in product management and Lean Startup. At Olsen Solutions, he works with CEOs and product leaders to help them build great products and strong product teams, often as interim VP of Product.
Dan has worked with a range of businesses, from small, early-stage startups to large public companies, on a wide variety of web and mobile products. His clients include Facebook, Box, Microsoft, YouSendIt (now HighTail), Epocrates, Medallia, XING, Financial Engines, and One Medical Group.
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[@PawelAntoniak]

This is the most fundamental and truest product development concept that we have encountered over the years.
Thank you for it, Dan. Team TechMarketers.

[@konstantinfelixprinz8416]

The Echo on my desk just started giving me the answer, triggered by the video. Thanks for the good fun, Dan!

[@karthikj]

@Dan Could you please explain why 'Value' is in the Problem space?
Ideally, Value could be 'Value prop(product) + Customer Perceived Value(market)' right?
Just wanted to understand your thought behind that.

[@karthikj]

Shouldn't Value prop be Solution Space and Customer Perceived value be Problem Space?

[@edmundfung]

Not sure why you need to break down "Value" with your equation here. Seems to me you're looking at it from a marketing angle(?), which isn't what this is about. The problem is you've framed "value prop" as part of product. Going back to the "drill/hole" analogy, the value prop is about whether your product addresses the "hole" in a relevant manner to the customer (be it fastest or cleanest etc.), it's still about the hole, and thus strictly in problem space. It doesn't matter here whether you're making a "drill" (product/solution space). Product space is strictly about implementation (see 7:26).

[@karthikj]

Thanks @@edmundfung

[@dalia1000]

Keep going

[@umeshfav]

Einstein one of famous quote that he will spend 99% time to understand the problem 😊

[@lucysibanda7335]

I have a Bible presented to Dan Olsen on 9/28/2017.