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Creating a productstrategy is almost never a matter of answering a few simple questions and figuring it out. They have a solid business but realized that the growth potential there is limited so they pulled me in to help them redefine their vision and strategy. Strategy is not like solving a mathematical equation.
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.
In our world, this would have been considered a great productstrategy. As you are reading this, replace Ford’s car with your own product. Sales need to be able to connect the specific need of that target audience to the actual product, which in turn needs to deliver on the value originally promised by marketing.
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.
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.
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. in detail?—?which
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? My free e-book “ Speed-Up the Journey to Product-Market Fit ”?—?an
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
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.
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.
For example, your title can be Senior Product Manager but you are actually required to do product leadership much more than product management (for example if you are the only product person in a startup).
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.
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 They needed something else.
When it comes to the product leader (in early-stage startups it is often even the same person as the hands-on product manager), they still see the importance of the role in the orchestration of the product execution. Product Definition Itself Is Not Strategy So why do the CEOs say it is an important, strategic role?
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.
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. Are you ready to make the shift?
It took me time to understand that I need to present myself as a product leadership coach and productstrategy expert rather than a consultant. One other misunderstanding that was much harder for me to explain was related to how people understood the word ‘product’ in what I do. If you are only beginning, it’s clear why.
If you have great marketing and sales people, they will come to you and ask deep questions about the customer profile and the value that you are expecting to deliver to these customers. They will then build their entire strategy according to your answers so that all the departments work together to generate success.
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. I’ll start with the former.
While it’s true generally as an approach to life (in psychology it’s called an internal locus of control), today I want to talk about its implication when you create your strategy. Strategy Is a Choice It is very tempting to approach strategy as if there is a right answer that we only need to find. But strategy isn’t as simple.
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.
It impacted everything from the depth of the underlying technology to the product itself, the go-to-marketstrategy, and the entire business model. I’m sure that your product, too, has a generic list of competitors.
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.)
When I first started teaching product management (at IDC’s Adelson School of Entrepreneurship ), I needed a way to break down strategic product thinking into distinct components that would help people understand and focus on one aspect each time. It is the separation that helps you sharpen your strategy. How detailed?
at the product level, the solution level, or the problem level (that is, you are tackling a problem almost no-one else does). Each level requires a different marketingstrategy. While the marketingstrategy is typically not for you as a product leader to define, the unique value proposition definitely is.
We help them with their productstrategy as well as building a strong product organization. That, of course, includes helping them hire the right people, and specifically the right product leader. That’s why they are looking to hire a product leader and not just a senior product manager.
If you feel this is your current situation, it is your responsibility as a product leader to change it. Create a productstrategy, and use it to help everyone align and create their own strategies based on it (marketing, sales etc.). My free e-book “ Speed-Up the Journey to Product-Market Fit ”?—?an
The Solutions Value Chain: It’s Not Just For Product Management The Solutions Value Chain is a powerful framework, and it’s not limited to just product management. It can make a big difference for productmarketing, sales & pre-sales, and customer success. Here’s how each team can leverage it to deliver more value.
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.
Let’s get right to it: what are those things you can educate the market on, and where are you setting yourself to failure? The answer to this question is based on the “Product Circuit” model that I use to help companies get to product-market fit and presented here a while ago.
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.
But when it comes to work, and especially strategy related decisions, let me be very clear: FOMO is not a good reason to pivot. You need to create your vision and define your strategy accordingly?—?simply My free e-book “ Speed-Up the Journey to Product-Market Fit ”?—?an It’s very natural to be confused. You should.
Let’s say, for example, that you have now 2 full hours to work on your productstrategy. Working on the productstrategy” is way too vague. So go treat yourself with some productivity time! My free e-book “ Speed-Up the Journey to Product-Market Fit ”?—?an That’s awesome and very important.
Make It Easy for Them to Help You In the CPO Bootcamp , the participants submit every week a piece of their productstrategy for feedback. My free e-book “ Speed-Up the Journey to Product-Market Fit ”?—?an I’m a big fan of MS-Word, but for this specific task, it is much easier for me to work with google docs.
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.
My free e-book “ Speed-Up the Journey to Product-Market Fit ”?—?an an executive’s guide to strategic product management is waiting for you at www.ganotnoa.com/ebook Originally published at [link] on January 19, 2021. Ask the hard questions upfront, so that you have fewer hard conversations to make down the road.
The competitive analysis itself is a major part of your productstrategy efforts, and here is how to do it at the right level. But the solution in this case is probably a different product or offering that suits customers who want something simpler or smaller. Again, it’s not about features.
If you are the new product leader of your company, your company might be in product leadership debt. In such situations, you would typically be asked to come up with a strategy and roadmap ASAP, but you are still just learning the domain. Typically, the CEO will ask for a strategy or a roadmap.
But the first thing Twiggle’s founders asked me to do was to decide which product we are going to create with the amazing technology that they have built so far. This required a whole new level of thinking and a deep understanding of product-market fit. And they go far beyond the product itself.
My free e-book “ Speed-Up the Journey to Product-Market Fit ”?—?an an executive’s guide to strategic product management is waiting for you at www.ganotnoa.com/ebook Originally published at [link] on February 23, 2021.
When the CEO sets the strategy, what is your role as a product leader? How can you be strategic when the strategy is set by someone else? When we were working on building their strategic roadmap, he asked me a great question: “why do I need to start with the strategy, and specifically when presenting to management?
primarily focused on product teams, helping them be great at the discovery work that is at the heart of what they do Leadership coaching?—?focused focused on helping product leaders thrive and lead the product organization effectively as well as the productstrategy in the right direction Transformational coaching?—?working
My free e-book “ Speed-Up the Journey to Product-Market Fit ”?—?an an executive’s guide to strategic product management is waiting for you at www.ganotnoa.com/ebook Originally published at [link] on January 26, 2022.
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