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.

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.

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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).

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.

Agile 32

7 Ways to Know That You Need a Head of Product

Mironov Consulting

You’d never consider a CFO with only second-hand theoretical knowledge of corporate finance. Over the last year or so, I’ve seen more than a dozen companies with a meta-product management problem that I’m calling the “ No Head of Product Syndrome.”

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.

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.

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.

Demo 35

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.

The Dirty Dozen Roadmap Roadblocks

Product Powers

You've got to get your development, sales, marketing, finance and other stakeholders involved early so it becomes their plan, not just yours. A good product roadmap is one of the most important and influential documents an organization can develop, publish and continuously update. It’s the one document that steers the entire organization in delivering on the company strategy. It's key to success, and yet many organizations struggle to produce effective roadmaps.

Dual-Track Agile: Why Messy Leads to Innovation

Mind the Product

Though it is seldom a question of whether product teams can build something, but rather how much effort it takes to build both in relation to man hours and finances. What is Dual-Track Agile?

Agile 107

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.

Selling Vs. Learning

Mironov Consulting

I talk with product managers all the time, and always ask whether they are talking directly with end users and target customers. The most frequent response from enterprise product managers is “Of course! I’m on sales calls two or three times a week.” .

Behind Every Great Product

svpg

Between working with the co-founders on the strategy, validating concepts with the users, assessing the analytics, driving features and functionality with the team, and working with finance on the new business model, marketing on acquisition, and the warehouse on fulfillment, you can imagine the workload Kate faced on a daily basis. Article: Behind Every Great Product.

Let’s Fire a Few of Our Customers

Mironov Consulting

Our sales team gets paid to bring in individual deals – huge ones, if possible – and Finance has probably forecast this one into next quarter’s revenue.

How to Build Great Products in the AI World

Mind the Product

We have moved on from the age of agriculture, steam, oil or finance to the age of technology, as Azeem Azhar showed us at ProductTank London. What does technology do to society? When technology and human ingenuity gets together, everybody in society profits.

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.

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.

Pricing Foundations

The Product Bistro

If you interact with finance teams, they often will refer to the marginal contribution, and this is what they are implying. One topic that seems to trip up both new and experienced product managers is the process of pricing. As a recent post highlights, the most important lever we have in our bag of tricks to influence the profitability of our products and business, is the price.

What makes effective decision making so challenging for product managers?

Mind the Product

Why should product managers be under any more pressure to make sound decisions than finance managers or sales and marketing teams? How can a product manager make effective decisions about the direction of their product?

TEI 092: Innovation mantras from R&D-with Dana A. Oliver - The Everyday Innovator – Resources for Product Managers and Innovators

Product Innovation Educators

As they grow and get bigger, the innovative people begin to move out and more finance people come in. Research and development is tightly coupled with product management and innovation. To learn how an R&D person thinks about innovation, I talked with Dana A.

How to Win with Superior Decisions

Product Powers

You can only do so many things, given limited finances and time. Have you ever worked at a company where the CEO or some other executive changes the priorities every week? Where no one can get anything done because they are constantly switching gears? Or maybe you’ve been stuck on a project that seems like it will never end because there are always “just a few more things” needed for it to really take off. I certainly have and I’ll bet most of you have as well.

TEI 096: Conjoint analysis for product managers- with Brian Ottum, PhD - The Everyday Innovator – Resources for Product Managers and Innovators

Product Innovation Educators

An example is where the developers say, “Hey, we could put 10 different features on this new product but the marketing people and the finance people said we can only afford three.”

Creating ideal customer profiles

Under10 Playbook

I discussed the numbers with finance. Analyzing past results to drive future successes may be the most important goal for today’s product leaders. You know the worst thing that can happen with a new product? You get some customers. Not none. Not a lot. Just a few.

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.

Product For Legacy Companies

svpg

Scaling from a small IT cost-center team serving their colleagues in finance and marketing, to a substantial profit-center technology team serving your customers. NOTE: This article is from the foreword to the new 2nd Edition of The Art of Scalability by Marty Abbott and Michael Fisher. I’m reprinting it here because quite a few people have written me asking how to get their old-style company to start behaving more like a modern technology-powered business.

How to Deal with Unresponsive Stakeholders

Folding Burritos

We’re talking about people or groups whose buy-in and collaboration are essential to make certain things happen: executives, sales, finance, legal, marketing, etc. As Marty Cagan puts it , managing stakeholders is probably the least favorite part of our job as Product Managers. It is, however, something we need to constantly keep on our radar, specially those of us working for larger organizations.

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.

The Product Manager’s Survival Guide

The Product Bistro

To fully embrace the product (whatever it is), to understand the finance, the operational/deployment efficacies, and the sales channel.

Fintech and Shotguns

Mind the Product

In the finance tradition, interfaces are essentially all graphs designed for financial professionals ( not general consumers), and they are all backwards-looking.

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?

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.

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!

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.

Is the Product Manager CEO of the Product?

Pragmatic Marketing

Their weaknesses tend to be on the business side and include market and customer research, marketing communication, finance and business strategy. When someone calls the product manager CEO of the product, what does that mean? And is it a helpful analogy? The product manager as CEO of the product sounds powerful and strategic. It brings to mind strong leadership skills, influence and accountability, all key traits of successful product managers.

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.

Three Reasons to Shift From Horizontal Products to Industry Solutions

High Octane Product Management

The culture has been built around product revenue and profitability and finance struggles with shifting the financial reporting structure to a vertical market view. Wealth made simple: news and articles from IRC Wealth.

Take a process retrospective

Under10 Playbook

Work with your finance team to do a retrospective on the business planning and financial modeling processes. A key element of many agile methods is the retrospective.

Time for a product retrospective

Under10 Playbook

I discussed the numbers with finance. One of the greatest challenges to team success is the inattention to results.—Patrick —Patrick M Lencioni, The Advantage: Why Organizational Health Trumps Everything Else In Business. You know the worst thing that can happen with a new product?

Product Metrics: Identifying Opportunity and Inefficiency

Under10 Playbook

Finance or Accounting teams are tasked with identifying value at the top line level. On the business side of product management, an area that typically gets short shrift is the creation, measurement and review of metrics related to a product effort.