549: Mastering product innovation, based on 60 years of design insights – with Scot & Walter Herbst

A product management methodology that guarantees market success Watch on YouTube TLDR This episode is a deep dive into practical product innovation with Walter and Scott Herbst—a legendary father-son duo boasting over 230 patents and decades of product success. They share their proven, data-driven methodology, pivot stories, and the importance of truly understanding customer problems. Listeners learn how to avoid common innovation pitfalls, leverage multiple solution paths, and set themselves up for product success, whether they’re in a Fortune 100 or a startup. Introduction How does product innovation really work? This episode is a master class in the art and science of product innovation with two masters of the craft – a father and son duo who together hold over 230 patents and have shaped products you likely use every day. Innovation isn’t a buzzword for our guests – it’s the family business spanning three generations. For product managers feeling the constant pressure to create the next big thing while managing stakeholders, resources, and market realities, you’ll learn how creative ideas become commercial successes.  Our guests are Walter and Scot Herbst of the Herbst Produkt design firm. They bring an extraordinary perspective to product innovation. Dr. Walter Herbst, recognized by Business Week as one of the ‘Fathers of Product Design,’ founded his first design consultancy in 1962 and later created Northwestern University’s prestigious Master of Product Design and Development Management program. His son Scot now leads their Silicon Valley design firm, partnering with Fortune 100 companies and breakthrough startups alike on award-winning products across healthcare, consumer tech, and more.  We are about to learn practical wisdom earned through sixty years of successful product development – insights that could make the difference between your next product’s success or failure.  Summary of Concepts Discussed for Product Managers * Iconic Product Stories: * Smith & Nephew: A company that makes tools for medical procedures. Tasked with “how do you sell more knees?” The answer wasn’t a new product, but a redesign of the surgical tools—leading to increased sales through better ergonomics and usability. * Slice: Pivoted from crowded home goods to the overlooked commercial cutting space, ultimately building a 70+ product portfolio and a successful acquisition. * The Proven Herbst Innovation Methodology: * Phased approach: * Discovery & definition * Concept development * Refinement * Final design * Commitment to a proven, repeatable process—so much so they’ve guaranteed client success. * Heavy emphasis on understanding the real problem before jumping to solutions. * Tools & Tactics: * Deep user research: Ethnography and direct observation to catch customer pain points and behaviors not revealed in surveys. * Collaborative, iterative solution generation: Encourages bringing multiple ideas to the table, and rigorous filtering before converging on the best one. * Documenting “what it is and what it is not” early, then posting for persistent team alignment. * Organizational Wisdom: