Product Discovery phase is about determining that you’re solving the right problem by Understanding the real needs or Unmet needs.
This is the most critical part of the product building exercise. According to CB Insights, most products fail because they have not really understood the customer/market need.
This discovery phase will have Problem summary reports as outcomes that will be validated by customers ( existing or potential). If it is a new category product, then lead users validation would be useful.
Most Entrepreneurs, Product builders rush through this phase and regret later. While ideas are good, it has to be developed based on a sharp problem definition.
Stop spending dollars on development and start spending time on discovery to realize a better ROI for your product.
You get more insights at iEnabler Product discovery.
Trust this helps.