I can think off one: A successful product solve's a genuine problem of a customer.<p>Besides that what are some principles that should always be followed?
So I live in Jakarta and bike at the weekends. Theres this little stall that sells coconut water close to my house and I stop there on the way home.<p>They source and deliver the best coconuts they can find in the early morning, and spend the next few hours cracking them open to fulfil previously booked orders. People like me also come in to bring some home.<p>By 11am every morning, without fail, they are out of stock. They pack up and go home. Its a very successful business for them, and they have scaled to the point where they aren't bothered scaling further. Their coconut water is the best, they are orders of magnitude more successful than other stalls in the neighbourhood.<p>I asked the woman who ran the shop one day what her secret was. She said "Harus Murah! Harus Enak!". "It has to be cheap! it has to taste amazing!".<p>I run a tech startup but I swear this is still the best advice on product management Ive received.<p>- Make something that solves a concrete need in a spectacular way (tastes great)<p>- Make the difference between the price users pay and the value they receive huge (cheap)<p>Combined, you've created a proposition thats impossible to turn down.
It might be obvious to state this, but I would say it again: Customer.<p>Define the customer first (who would use/buy this) before making a product.