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Below, you’ll find what I believe is the most actionable, specific, and straightforward framework for crafting a strategy, for both your product and your company. As Chandra shares below, his framework sits on top of the best strategy wisdom out there (e.g. What exactly is productstrategy?
How product managers can move from ideas to action Watch on YouTube TLDR In this episode, I speak with Atif Rafiq about how senior product leaders approach strategy development and execution. The methods and frameworks we discussed can help product leaders work through strategic challenges more effectively.
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.
Well, th at’s the role of a productstrategy. My favorite definitions of strategy are the simplest I’ve found. The one I use most is this: a strategy is what we choose to do. In other words, the strategy should define how important each goal is, relative to others. A simple representation for our productstrategy.
As you move into the new year you can help your product team prepare for success by exercising those product leadership muscles and implementing product management best practices. Here are our top tips for how you can lay the right foundations and get your productstrategy off to a flying start.
Silencing Doubts During ProductStrategy As a seasoned product manager, I have experienced this struggle many times. That is until I got a chance to participate in a mindfulness exercise. It’s now a core part of my pre-launch ritual for productstrategy development. It was truly eye-opening!
If it is not clear who the users are and why they would want to interact with the product, it will be hard to decide which items should be in the product backlog and how important they are. Let’s look at a brief example and say that I want to create a product that helps people eat healthily.
The Eight Core Elements of a Winning ProductStrategy “The essence of strategy is choosing what not to do.”?—?Michael After what seemed like months of work, our product was emerging from stealth mode. No choices = no productstrategy. The series of choices following a framework = the productstrategy.
Is creating a productstrategy worth the effort? Creating a productstrategy isn’t easy for product managers. It’s difficult to flip the switch when most of your time is spent in the weeds taking care of the day-to-day product needs, launches, sales support, etc. Submit Your Question.
Speaker: Christian Bonilla, VP of Product Management at UserTesting
Defining the product vision is a high-stakes exercise, which makes it all the more important to avoid some common pitfalls product managers encounter: confusing the company’s vision with their product vision, defining a vision that’s too abstract to be useful in strategic planning, or combining the “what” and the “how” in the product vision.
If someone is referred to as product owner, then the individual should own the product in its entirety—like Word in the example—and not just a product part—such as the ability to save a document. While using a strategic and tactical product role is a common scaling technique , it is best applied when the product is stable.
Expanding on a recent post ( Revenue Goals are Not Company Strategies ), I’ve been seeing lots of maker teams (product, engineering, design) struggling to form productstrategies without a company strategy to hang them on. If these strategies don’t hang together, we each hang separately.
This article assumes that you are familiar with the product vision board or the key elements of a productstrategy : market, value proposition, standout features, and business goals. A good vision exercises pull—it describes a future state that people want to bring about. A Brief Guide to this Article.
You can download the template for free from romanpichler.com/tools, and you can find more information on how to use it in my post The GO Product Roadmap. I like to use my Product Vision Board to develop a valid productstrategy. This would turn your product roadmap into a feature soup, a random collection of features.
At all of them, I start understanding the current state of Product Management. I then do various interviews with executives all the way to Product Management team members and surrounding functions. I review strategies and roadmaps. Other Times, it's due to a lack of skill set in product leaders.
The competencies vary as you grow in the product organization from a Junior PM role to a VP, Products. As you climb the ladder, primarily the focus changes from solution and execution to strategy. Also, in various organizations which have grown in product maturity, customer base etc., ProductStrategy.
To effectively staff the product team, I recommend including the people shown in Figure 1. [1] 1] Figure 1: The Product Team Members Let’s look at the product team members in Figure 1 in more detail starting with the person in charge of the product. 3] Figure 3 illustrates the team’s ownership of the goals.
Shifting markets usually constitute a shift in productstrategy for most organizations. For some, the current market climate presents a world of opportunity and for others it’s an exercise in survival. In either case, there are three key aspects of productstrategy that matter most. The Playbook: 1.
I have some takeaways and learnings to share that I covered as a coach for their onboarding strategy. Create B2B onboarding strategy for a premium organic products for <Startup V> catering to niche user segment focused on wellness, health & lifestyle” Why was it needed to define the problem for onboarding strategy?
People who do this well are not only great at strategy and would make sharp executives, but also tend to ace ProductStrategy interviews like the one in Google’s Product Management Interviews (for Facebook’s Product Sense interviews, read How to 10x Your Product Intuition ). How would you monetize this?
Instead, you rely on the contributions and the support of the key stakeholders , the development team members, and possibly other product people who help you manage a large product. For example, the marketer has to create the marketing strategy, and the development teams have to design and build the product.
Similarly, you would either co-create the product roadmap or discuss an initial version together with all product team members, as I explain in more detail in the article Maximising Stakeholder Buy-in to ProductStrategy and Product Roadmap. [4] 5] Figure 4 shows an extended product team that includes a coach.
Our principles help us make decisions about strategy, roadmaps, design, and more. For example, we might really admire your visual design work, but we’ll also want to see how you influence productstrategy, define the problem, understand the system, collaborate with others, and more. Intimidated about creating a portfolio?
Tips for creating customer use cases – for product managers Today we are talking about how to create and use customer use cases to guide product design. Our guest is Dr. Lilac Muller, VP of Product Management at Kymeta Corporation. Our guest is Dr. Lilac Muller, VP of Product Management at Kymeta Corporation.
Amanda had 18 years of product management experience and was able to clearly foresee the obstacles I might encounter in my new role. We started by defining the objectives I wanted to achieve over the course of my 6 months in the product mentor program, an important exercise at the beginning of any mentor partnership.
While I’d like to encourage you to involve development team members and key stakeholders in the visioning, strategising, and roadmapping work, you should lead these activities with the aim to maximise the value your product creates. This risks no longer seeing the wood for the trees.
Roadmapping is at the core of productstrategy and product management. As a product person, and the VP of Product at Yesware , I’ve never come to fully embrace the discussion of what each team would deliver, in what sequence and within a long timeframe.
The client service team supports the work flow that software has been built to support, and different organizations have strategies in managing these interactions. The value that your product brings to your users comes from taking the vision of the user your team has assembled. They are also about bringing value.
At ProductTank Montevideo (Mvd) we celebrated World Product Day earlier this month with a presentation from an awesome product leader, VP of ProductStrategy at Rootstrap, Neville Reeves. He explained the rules and challenged us to complete the exercise. Building a product is a continuous improvement process.
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. That’s the high-level strategy for the company. It’s a forecast of the strategy.
Martin Good Strategy, Bad Strategy by Richard Rumels Productstrategy is a set of choices informed by product vision and company objectives. A good strategy consists of a diagnosis, guiding policy, and coherent actions. Why is productstrategy so hard? “What is productstrategy?”
The Strategy Canvas. The Strategy Canvas was developed by Kim and Mauborgne, the authors of Blue Ocean Theory. It was originally intended as a business strategy tool to discover new markets. Luckily, the canvas can also be applied to individual products, as the following example illustrates. [1].
Typically, when brands claim this, it’s more of a marketing technique and less of an actual pillar in their productstrategy. Incorporate customer feedback directly into your product roadmap. Using customer feedback to prioritize your product roadmap might seem like an obvious strategy, but very few companies actually do it.
Being product-centric means you are inherently both user and buyer-centric. To me, it translates to your products driving your business strategy and growth plan. Unfortunately, all too often businesses set goals disconnected from their products. Your products now drive your market strategy and growth plan.
from ‘ Drive’ All top product leaders know the importance that vision plays in the success of a product. As Marty Cagan states in Inspired : “When done well , the product vision is one of our most effective recruiting tools, and it serves to motivate the people on your teams to come to work every day.” Dan Pink’s Motivation 3.0
In this post, I look at the value of asking great questions, cover a few strong sample questions and suggest some exercises to help you generate your own insightful questions. Do not go into a product management interview without preparing questions for your interviewer. This is not a “one size fits all” exercise.
This little gardening exercise and the patience it required led me to think about the things in our daily work as product leaders that simply take time, and there is nothing we can do to speed up the process. It was a lengthy process, with quite a few trials and errors, until we found the right strategy.
5 Steps to ProductStrategy. As product management evolves into a critical strategic function in organisations, its effectiveness in driving both customer and business value will increasingly depend on – and be influenced by – people outside the product team. This is where a well-defined productstrategy comes in handy.
Experience Mapping is a strategic exercise of identifying, capturing, and communicating the interactions of multiple brand touchpoints over space and time. It is a strategic exercise for getting omnichannel alignment. Or read on for an overview of his key points. Types of Experience Maps.
This month we show a little love to those in senior product management roles with a focus on strategy, title inflation, and newbies to the VP role. Of course, we can’t ignore the connection between sales and product management. Whatever happens in product management is usually reflected somewhere in the sales process!
Holly and her team decided to focus on value and finding the ideal business outcome rather than just shoving products out the door with no prioritization. Holly takes the audience through an exercise with the goal of showing how focusing on business outcome works.
The same holds for product management: When you create a productstrategy for the first time, for instance, you are likely to make plenty of mistakes. Are you, for example, critical of the other person’s work and quick to exercise judgement? It is also a great opportunity to and learn something about yourself.
Our product team will share a product update, and most product updates will include a high level reminder of productstrategy. Every quarter we do a detailed all-hands meeting about the productstrategy. What is our current productstrategy?
Enjoy our B2B Product Manager June issue. Blog: High-Octane Product Management. 3 Tiers of Customer Value in the Product Management Maturity Model. If Your ProductStrategy Doesn’t P**s Somebody Off, It’s Probably Not Very Good! Product Management Playbook. Outcome-Based Product Enhancements.
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