Finance’s Role in Pricing

Pragmatic Marketing

Finance should NOT set prices. Finance cares a lot about pricing because they focus on profitability. But finance should NOT set prices. Here’s the problem: Finance people do not know the value of their products. Finance should absolutely be one of those participants.

“My CEO is a Finance Guy Stuck on ROI…”

Mironov Consulting

Head of Product: My CEO is a finance guy*, and is pushing the product team hard to prioritize all engineering work solely on ROI. Most first-time CEOs come from some functional role: sales, finance, marketing, engineering, occasionally product management. (Or

3 Product Lessons I Learned From Finance

Sachin Rekhi

I studied computer science in the engineering school and ultimately settled on finance at Wharton. While I may have been better served studying marketing or management, I did learn some important finance principles that I still use day-to-day in my product management role.

How I use Mint, Personal Capital, and Wealthfront to Manage my Finances

Sachin Rekhi

One sector in which we are already seeing this shift is personal finance. There is still so much opportunity for brilliant software in personal finance.

Must-have Tax Preparation Checklist For Your Business

The Product Coalition

If you know right now that you do not or will have some of these elements, talk to your finance team, understand why, and come up with a plan in the coming few weeks to get these items together. Philip holds an MBA and undergraduate degrees in Accounting and Finance.

The Strange Way Being “Good” Hurts Your Willpower

Nir Eyal

Paulette writes about finances, psychology, technology, travel, and better living for the likes of The New York Times, Elle, and Slate. Nir’s Note: This guest post is by Paulette Perhach. I learned how to respect authority from my father. At the top of a huge water slide at a theme park, he put me, my […]. The post The Strange Way Being “Good” Hurts Your Willpower appeared first on Nir and Far.

Why Has Business Education Failed Business

Product Leadership

Have MBA Programs Churn out Takers Not Makers] by Rana Foroohar based on her book “Makers & Takers: The Rise of Finance and Fall of American Business” talks about the state of business education in the US. This article [Want to Kill Your Economy? For my friends in India, I am curious to know if … Continue reading Why Has Business Education Failed Business → Business Schools Career/Leadership Product Management

What’s the ROI of Innovation? – David Binetti

Mind the Product

Currently, David helps organizations innovate faster with less risk through Innovation Options, a valuation framework he created that gives entrepreneurs a product-friendly yet finance-approved answer to the eternal question: “What’s the ROI?” Finance’s Perspective.

You either ROI or die

Street Smart Product Manager

Double entry system… Finance is not much funner… In fact, it can downright make your head spin… Liquidity. Let’s face it: Accounting is boring as isht. Assets. Liabilities. Cost basis. Accrual. Cost principle. Risk tolerance. Asset allocation. Dollar cost averaging. Capital asset pricing… Eh? As a product manager, why in the world would you […]. The post You either ROI or die appeared first on Street Smart Product Manager.

Maybe We Should Be Problem Managers

Under10 Playbook

We work with sales and marketing, development and support, professional services and finance. One of the great things about product management is touching every part of the company.

What's the venn?

Under10 Playbook

Or is it finance and customer and something else? I've seen a bunch of variations on the Venn diagram for product management. Is it the intersection of tech and UX and requirements?

Is It Time For Amazon’s Product Managers To Go Back To College?

The Accidental Product Manager

Students who are looking to find a way to finance their college education generally have two options : federal loans (from the government) and private loans (from a bank). Amazon rolled out a product that went away very quickly, who screwed up? Image Credit: Canonicalized.

What Will Product Management Be Like In 5 Years?

PM Hardcore

Understand where you and your company are in terms of finance-related product management ratios. The future is hard to tease out, but here’s what will happen in product management’s future. (CC CC 2.0 by PunkToad).

Why Companies Don’t Focus on Pricing

Pragmatic Marketing

Finance people care because they are worried about the profitability of the company. Pricing is the most powerful of all of the marketing mix levers. Depending on gross margin, a 1 percent improvement in pricing can lead to a 10 percent increase in profitability.

The Best Product Managers are Great Communicators

bpma ProductHub

People from finance, marketing, operations, sales, engineers. Interviewed by Oksana Reznichenko. Dinneen Grably graduated from Bridgewater State University with B.S.

All I know is coding. Can I become a Product Manager?

B2B Product Management

Finance), you can also contribute to high-tech Product Management, although the focus will be much different. Also works with the stakeholders like finance or operations to define and execute the pricing strategy. We get this question a lot.

Backlog Refinement Takes You from Vision to Value

bpma ProductHub

He launched the first Scrum team in 1993 and has shephereded its growth into almost every industry: finance, healthcare, higher education and telecom. Contributed by Ellen Gottesdiener and Jeff Sutherland. Deliver Value Sooner. Backlog refinement prepares your backlog for development.

Vision 195

The magic of subscription pricing

B2B Product Management

Also at larger companies, getting these support teams (Finance/Operations) to release the subscription SKUs is a big challenge for a Product Manager, if the organization has been only offering perpetual SKUs till now. A few months ago, one of our proposals got rejected because of our pricing.

Create an Opportunity Definition

Under10 Playbook

A full business planning document takes many days (or weeks) and involves getting assistance from other teams, notably finance, sales, marketing, and development. The biggest waste of all in product development is building something that absolutely no one wants.

Market-Driven Products vs. Market-Driven Product Companies

Proficientz – Product Management University

Product roadmaps, marketing strategies, sales planning, finance and operational infrastructure follow suit. If you have market driven products then don’t you have a market driven company? There are three key differences between market driven products and a market driven product company. Market-driven products, if taken literally, could result in multiple product silos with competing goals and contention over resource allocation.

Why live chat isn’t just for customer service anymore

Inside Intercom

Live chat delights your visitors – and your finance team. For all the time and money we spend attracting customers to our website, isn’t it odd how little we spend trying to convert them? According to an eConsultancy report , for every $92 spent acquiring prospects only $1 is spent converting them. Sure, that dollar could give you returns in spades, but in reality the odds of that are no better than a craps table in Las Vegas.

How do I become a Product Manager ?

B2B Product Management

Finance, Operations). Finance): . Here are some practical tips on becoming a Product Manager (PM) for a high-tech product. This is an excerpt of my Udemy course called – Transitioning to Product Management.

Developing as a Product Manager

Mind the Product

You’ll be solving challenges that will go to the heart of your business such as finance, mergers / acquisitions and your cultural set up. There are no guides to Product Management.

From Development to Product Management

Under10 Playbook

The great thing about product management is you work across all parts of the organization—development, marketing, sales, services, support, finance, and the executive team. A reader asks: What should I know about moving from a developer role to product management? First, congratulations!

Product Lifecycle Management – Beyond the Early Adopter

Mind the Product

Lightweight ideas generation moves quickly with minimal finance into an “Explore” phase, focusing on the discovery of real customer needs.

Apple’s new AirBag–and other innovation insights for product managers Sep 30, 2016 - The Everyday Innovator – Resources for Product Managers and Innovators

Product Innovation Educators

Need to radically change a product experience – learn from Yahoo Finance rebellion. The product management team for Yahoo Finance spent the last 18 months conducting user research and learning how to improve Yahoo Finance.

How To Build Your Audience Well Before Launching Your Product

Sachin Rekhi

Mint.com knew they would be building a personal finance tool that would serve the young professional crowd whose needs were not being met by traditional finance software and services.

Organizations Are Not Families, Part 1

Johanna Rothman

We manage our finances. I read Joe Berkowitz’s story in Fast Company, John Oliver Was Right: It’s Time To Confront The Dustin Hoffmans In Your Life. There’s a link to a video excerpt in which Hoffman discusses the idea that the people felt like a family. Mr. Berkowitz says this: There is no template for how to be a good man in the #MeToo era. I disagree. There is a template. My father called it being “professional.”

Behind Every Great Product by Marty Cagan

Mind the Product

Like CEOs, product managers must deeply understand all aspects of the business, from marketing to sales, finance, manufacturing, legal, and partnerships.

17 Must-Read Product Management Books

Hutwork

Jake Knapp and his partners have used this process in more than a hundred sprints with companies in mobile, e-commerce, finance, healthcare, and other industries. Product management goes well beyond those certified in agile or another method. Whether you became a product manager or someone asked you to wear one more hat, leading can be stressful. One key to successful product management is to keep learning. A true teacher would never tell you what to do.

Books 43

Analyzing your Buyer’s Journey

Under10 Playbook

After all, I bought and financed the car through the dealership. “Consider this: most high school sports teams spend more time and money on win/loss analysis than most companies.” ” — Steve Johnson, Turn Ideas Into Products.

Let’s Stop Talking About Human Error: It’s Your Product

Mind the Product

Emma, who otherwise enjoys kayaking and reading sci-fi, manages the one-person finance office. What if I said that there was no such thing as human error, only poorly designed products? Ok, park your pitchfork. Let’s approach this slowly, starting with Emma.

Good Behavioral Product Manager, Bad Behavioral Product Manager

Mind the Product

You are not helping people if someone has to log in every day to check their business accounting system or their personal finances. But if Quickbooks Online measures active use (which it did) it will be incentivized to build features that get you to log in vs do actions to improve your business finances. A good product manager generally has a keen instinct for human behavior.

That "Girl" From Procurement

Pragmatic Marketing

She sits quietly in the cube in the way back, doing excellent work that few—besides finance—appreciate. Organizations are only as good as the talent they employ, but finding that talent can be a massive challenge.

It’s time to get your Ph.D. in Sales Comp

Product Beautiful

Our next stop was Finance. We scheduled a meeting with someone that Finance identified as the “Genie of Sales Compensation.” A few years ago, I was working for a large company here in Austin.

Brian Crofts – Innovation Requires Insights

Mind the Product

Brian joined Pendo from Namely, and formerly from Intuit, where he started his career in finance before finding his passion for product. Brian Crofts , VP of Product at Pendo, believes uncovering and understanding client pain points allows him to build products that truly resonate. He worked on new businesses for TurboTax and later led global expansion for QuickBooks, Intuit’s suite of accounting and payroll SaaS solutions for small businesses with 1.5M users.

Is Product management a skill?

Product Management and Strategic Marketing

A recruiter is managing job openings, a CFO manages the company’s finance, a VC manages investments in companies, sales people manage sales accounts, but that is not product management. Most of you are probably familiar with skills & expertise on LinkedIn.

Structured Visits – Cross Functional Team

The Product Bistro

Finance – the finance team is often responsible to track development costs before launch, and the profitability of the sales ramp. Our last post was an overview of what is a structured series of customer visits, and a high level overview. This next post in the series will dive deeper, and discuss the importance of structured customer visits being cross functional.

SaaS product management explained by 6 product managers

Roadmunk

Companies are going into specific industries (real estate, finance, etc.) The rise of the SaaS model in the product space has been swift, to say the least. So as product managers, knowing how to manage only traditional, on-premises software no longer cuts it. We chatted with six experts (i.e.

It helps when we all work for the same company

Under10 Playbook

So hiring one guy in Canada creates additional workload for development, marketing, product management, finance, support, and others. In college, a fraternity brother recommended I take a ROTC class—he promised me an “A” and I’d also get to fire a rifle. And after struggling with Cost Accounting, I really needed the grade!) One thing I remember is, during WWII, each soldier was supported by 8 non-combat soldiers.