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Productside | Product Management Courses & Training How WellNest Rebooted ProductStrategy (eBook Preview) When product teams get stuck in backlog chaos, stakeholder noise, and reactive shipping, its not a process problem. Its a productstrategy problem. But getting there wont be easy.
Creating a productstrategy is almost never a matter of answering a few simple questions and figuring it out. Being very pragmatic, he hates stale discussions and so in almost every meeting we have, he keeps questioning the process that will lead us to the right productstrategy. Sounds confusing? The primary reason W.
A solid productstrategy takes time to build. Here is the method I use for creating a productstrategy that makes sense. When I talk to the startups I consult to , or with the CPO Bootcamp participants, I always say that building a solid productstrategy isn’t like solving a math equation.
The Critical Role of ProductStrategy When Money Is Scarce (Part 1 — Seed) A good productstrategy is something every company needs. Here is how a productstrategy can help you create business results, even when the market is not in your favor. Productstrategy is such a vague term for most people.
The Critical Role of ProductStrategy When Resources Are Limited (Part 2 — Rounds A, B, and Later) When you start selling your product, you feel great, but that doesn’t last for too long. You blame the market, but often that’s just overlooking the real problem. Photo by Tomas Sobek on Unsplash Nobody likes crises.
In our world, this would have been considered a great productstrategy. As you are reading this, replace Ford’s car with your own product. Marketing needs to know exactly who the target audience is and what value proposition to talk about. What people usually call strategy is in many cases just a general direction.
The Critical Role of ProductStrategy When Money Is Scarce (Part 2 — Rounds A, B, and Later) When you start selling your product, you feel great, but that doesn’t last for too long. You blame the market, but often that’s just overlooking the real problem. You add features, you replace salespeople, but it doesn’t help.
Everyone knows educating the market is hard to nearly impossible, but people always bring up examples like Facebook or the iPhone whenever I discuss it in my lectures. So what can and cannot work when you want to educate the market? Photo by Oleg Magni from Pexels Educating the market has a bad reputation.
If you are on the journey toward product-market fit, you know it’s not easy. Every new product has its own fit to find. One of the hardest challenges of any product and any startup is of course reaching product-market fit. product-market fit under the hood. So here it is?—?product-market
Everyone knows educating the market is hard to nearly impossible, but people always bring up examples like Facebook or the iPhone whenever I discuss it in my lectures. So what can and cannot work when you want to educate the market? Photo by Oleg Magni from Pexels Educating the market has a bad reputation, and rightfully so.
Productstrategy is one of the most important tasks of the product leader, and definitely one of the hardest things to do. This should be your first step into productstrategy. Since productstrategy is so hard, many companies simply skip it. Even higher-level goals can be refined and detailed.
He helps rapidly scaling early-stage startups craft their ProductStrategy and everything related to it. He also helps middle market and scrappy companies generate new productstrategies for significant, sustainable growth. Often there’s a lack of awareness of product management.
SplitShire-London-Collection-210062 When I work with companies on sharpening the value proposition and refining the productstrategy, one of our information sources for the process is their existing customers. Who they are, why they chose to work with the company, what value they are getting out of the product, etc.
helping the company transition from a founder-led product approach to building a strong, sustainable product culture. I have been helping her reshape how product management is perceived in the company by building a solid productstrategy, team structure, roadmap, processes, and more.
Educating the market is hard enough as is, but there is one thing without which you cannot succeed. You Cannot Educate the Market if the Need Isn’t There Last week I talked about ways to educate the market , ones that can actually work despite the fact that educating the market is hard and usually not recommended.
Creating a solid productstrategy is an ongoing process, not a one-time effort. Once you created a first draft that you are happy with, it’s time to bring it to the market and iterate according to the feedback you get. But how can you test a strategy? for example, if you are moving to a new market?—?you
Written by Dan Olsen, Product Management Consultant and Author, for our ebook, The Path to Product Excellence: Stories and Advice From the Field. When Instagram first launched, there were already many photo sharing mobile apps on the market. Why was Instagram’s product so successful? Source.
A good productstrategy helps you to acquire happy customers and retain them over time. Here is how productstrategy helps you overcome them. Photo by Braden Collum on Unsplash Working on productstrategy is an iterative process. At this point, the importance of the process is very clear.
Creating a Solid ProductStrategy One of the CEOs that I work with as part of my consulting services recently reflected with me on the process we went through for creating their new productstrategy. It was a lengthy process, with quite a few trials and errors, until we found the right strategy.
For some reason, most of them want my productstrategy and product-market fit lectures during May and June, every year. I gave my talk on “The Journey to Product-Market Fit” three times within a two week timeframe. That’s why the productstrategy is so important?—?it
Truly defining the product includes many other things, like which problem it solves, for whom, the value proposition and why it makes sense business-wise ?—?considering considering all relevant points of view including the customers, the market, and the company itself. It is much closer to the company strategy in how broad it is.
Photo by cottonbro studio on Pexels When I started Infinify, I told the world I am shifting to product consulting. I knew what I really wanted to do, and the way I understood the term ‘product consulting’ described it quite well. The market, however, understood it differently. That’s the whole reason VCs invest in startups.
The productstrategy plays a critical role here. The definition of a productstrategy is not the strategy of the product department. It’s a strategy that explains how the company is going to succeed based on the product. But the team you play with is the other leaders in the company.
If you have mediocre marketing and sales people, it wouldn’t work. If you have good marketing and sales people, they will be able to sell the product to some extent based on their network and talent. It’s much more than a UX exercise, it ties directly into your productstrategy.
The technical writer I hired was quite experienced and had a background in marketing. When we reviewed the product, she started asking me questions that I didn’t have a ready answer for. Great marketing people can’t always market well either. The API was well-defined. Turned out I was wrong. Guess what? Talk to us.
This post is an excerpt from our ebook, “Building excellent products in the age of remote work,” written to help you overcome today’s unique challenges and focus on what really matters—building excellent products that customers truly need. Even before COVID-19, the writing was on the wall for product managers.
Photo by Ono Kosuki from Pexels OKRs (Objectives and Key Results) are a useful tool for goal setting and team alignment, and in recent years they have gone from being used primarily in quantitative parts of the organization (namely sales and marketing) to being very popular in product and technology as well. That’s easy.
The reason we didn’t see them in any of our POCs was because they were targeting a different market segment. It impacted everything from the depth of the underlying technology to the product itself, the go-to-marketstrategy, and the entire business model. It wasn’t just a random selection. In most cases, it’s the latter.
Your product will always have bugs, and you will always need to chase and fix the important ones. But sometimes, the really important bugs are not showing in the product itself. These are bugs in your productstrategy, and if not fixed, it will be very difficult for your product to succeed.
First off, pretend for a minute that your company and your products don’t exist. This helps you see the market through the eyes of your target customers. Viewing the market through the lens of your products can actually distort your understanding of the real needs. How Does The Solutions Value Chain Work?
The course covers basics like assessing target opportunities, building software products, and how to launch a great product. The Product Leader Certificate requires a little more PM experience and demands competence in DevOps, data analytics, and hard technical skills. product manager, product owner, productmarketing, etc.)
an from Pexels My marketing manager recently asked me to define our marketing budget for 2021 so that she can plan accordingly. Tie It to Results, Not Resources With my marketing budget, it was hard for me to make a decision since I couldn’t tie the investment I would be making to clear and coherent results. Photo by Vlad Che?an
Pitfall #1: No Long Term Thinking The lean philosophy says you don’t really know what’s happening in the market until you meet the market. For example, it is impossible to create any relevant marketing materials and core messaging when you don’t fully understand where you are going?—?which Help yourself succeed?—?in
But as a product executive, you must take it to the next level — and this time use it with the entire management team. Image by Denis Doukhan from Pixabay In the CPO Bootcamp we talk a lot about productstrategy. One of the things I say about it is that strategy starts with the goals.
what’s right for both me personally and my business, but from what I already know about the next 2 years it is clear to me that I will learn so much about myself, my market, and my business during that time, that it’s hard to even imagine the full realm of possibilities so far into the future. Is the Market Ready for You?
Being a product-led company is a business decision that is manifested first and foremost through the organizational culture. Product-led growth, on the other hand, is a specific growth model in which the product actually serves as the sales and marketing tool for its own growth. But can you afford not to?
In economics, they explained to me the foundations of a perfect market. When you think about your productstrategy or a specific decision at hand, create a list of constraints that you live by. Sightful is such a constraint about the mission statement and the product purpose (entertainment vs. productivity).
Photo by Pixabay I recently led a product-market fit workshop at a known company in the Israeli tech industry. It is a well-established company, a leader in its domain, but it still needs to deliver new products to the market so product-market fit is a very relevant topic.
Strategic product thinking is hard. Especially when done as an afterthought - when the product is already in the market?—?it I created a model called “The Product Circuit”, which I have since used in productstrategy processes with dozens of companies and in my lectures when I explain the journey to product-market fit.
For example, if you have a revenue goal, a silly way to achieve it would be to sell iPhones at half the market value. There is, for example, an inherent tradeoff between scope and time to market. My free e-book “ Speed-Up the Journey to Product-Market Fit ”?—?an You will make tons of money, but the company won’t survive.
The product was still young but already well-defined and deployed on customers’ networks. I did a lot of work there on improving the product and making it more suitable for the market, easier to sell and deploy, and contributed directly to the product’s success and business growth throughout my time there.
When you consider the ideal customer profile, you need to get yourself into your customers’ world and deeply understand what they need to go through before they are ready to buy your product. My free e-book “ Speed-Up the Journey to Product-Market Fit ”?—?an Make yourself an expert in this area as well.
The journey to product-market fit might seem random, but it actually has a well defined high-level structure. Here is part two of the guide that will help you find your way to product-market fit. This is an important principle in the product-market fit journey. How many is a few?
As product managers who are constantly in meetings and get questions from all around, this is critical. One of my best tips for doing deep product work used to be to work from home. It was a countermeasure to the popular symptom of product managers doing their real work?—?market Working on the productstrategy” is way too vague.
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