Requesting Product Funding
Requesting Product Funding involves the formal presentation and submission of a product proposal to the ecosystem team to secure the necessary financial resources for product development.
Goal
The goal is to obtain approval and funding by effectively communicating the product's potential value, alignment with ecosystem strategy, and expected return on investment.
Context
While product are still maturing and finding product market fit, or looking to scale to new markets, they require funding to support their development and growth. Requesting product funding is a critical step in securing the resources needed to bring the product to market and achieve its strategic objectives.
Inputs
| Artifact | Description |
|---|---|
| 6-Pager | A concise document outlining a project or proposal, including background, problem statement, solution, and next steps. |
| Press Release and FAQs | A press release format highlighting the benefits to customers and answering the key questions related to the product, how it will work and how to overcome potential challenges. |
Outputs
| Artifact | Description | Benefits |
|---|---|---|
| Product Budget | The financial resources allocated to the product, including budget constraints and funding availability. | Ensures the product has the necessary resources for development and growth. |
Anti-patterns
- Misalignment with Ecosystem Goals: Failing to demonstrate how the product aligns with broader ecosystem strategies.
- SLoppy Thinking: Submitting a proposal that lacks clarity, coherence, or a compelling value proposition.