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Showing all posts tagged "Product Strategy" ...

Risk Neutral vs Progressive Roadmaps: Here’s How To Survive a Recession.

Let’s face it. As COVID-19 continues to threaten the normalcy of our lives, there is no turning back from the recession that is hitting our economy. What does that mean for a company? As we’ve seen, recessions can create wide and long-standing performance gaps between companies. A company’s performance during and after a recession depends not just on the decisions it makes, but also on who makes them. Product managers play an important role in steering leadership to evolve the product strategy and corresponding tactics. Companies that are neglecting to take large roadmap bets to competiti...

Identifying Market Opportunities: Here’s How You Can Create, Measure and Monetize Customer Value

Creating value is an essential starting point and a fundamental concept for all businesses and their objectives. It’s as simple as this: a business must create value and deliver it in an efficient way so that it will generate profit after cost. But how exactly do you create, measure and monetize this value? Finding market opportunities, choosing a revenue model and delivering value to customers are all fundamental steps to reaching your product goals. Steps to Creating, Measuring and Monetizing Customer Value 1. Find Market Opportunities To begin, it is important to find a market opportunit...

The case for rotating through products

The market changes. Trends in the marketplace affect the appeal of your message and the profitability of your product. Winning products thrive on big thinkers with the expertise to solve common challenges. Should a company hire a product manager with years of experience in, and knowledge of, the industry? How about a product manager who can quickly master a market and domain. One with generic, transferable product management capabilities. One who engaged with not just new technologies but also new business models. Who evolved in tandem with the types of products, customers, and markets th...

The Product Manager's Guide to Backlog Grooming

Wish lists are a pain. It looks like a small request – at best. It comes top down, it guts your strategy, it unbalances all the hard work you put in prioritising and forces you to make difficult trade-offs. Great news: you need to validate that it’s actually useful and/or important, Less-great news: If they clearly aren’t important enough to be done, then they don’t belong on the backlog. Your job is to break the news. Some of my stakeholders have tried everything to eviscerate a backlog: Last minute esoteric requests with intense pressure on me to say "yes", contradicting established o...

Product opportunity, It’s all about timing

Product management is empirical, verifiable by observation, experience, and practice. I’m amazed at how calculated and theoretical some make it be. Put yourself into the right critical thinking mindset, do some customer research, think through your market and validate if there is a product opportunity. In a great market, your product doesn’t need to be the best; it just has to basically work. In a terrible market, you can have the best product in the world and it won’t matter . If there’s no customer need, everything else falls apart . Move on! Find another market. Just another day in V...

I haven’t heard what the strategy is!

It's bad when big decisions are made without context, or with little explanation. It’s worst when you're told that there are no master plans, that success will no longer be about delivering product features. Success will be about customer value learnings and adapting the strategy accordingly (read: there is no product strategy). Instead of executing on strategy we will look for one. Instead of making complex plans that are based on a lot of assumptions we will sketch out a hypotheses and test via constant adjustments called pivots (changing course with one foot anchored to the ground). W...

Product Management as a service

I lead a team and we deliver ‘product like’ hardcore digital platforms. The outputs of our work are non-marketing products. Like a restaurant's mobile app that lets you order your meal ahead of time for example. People always think that product managers operate this very critical, high-leverage function that, when executed correctly, greatly facilitates the leap past prototypes into a steady return of profits. These are products with revenue models tied to the technology. But there are some who offer the product approach as a service where products are shipped without the purpose of becom...