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.

Is Your Finance Department Adding Value? 3 Signs That It Is, And What To Do If It Isn’t

The Product Coalition

What role does the finance department play? When you think of your role in the finance department, do you feel empowered to drive change across the organization? Yet, so many finance departments are bogged down by the traditional perception of their role in compliance and reporting.

“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 King Crushes New Product Development using Data-Driven Insights

Speaker: Ian Thompson, Head of Business Intelligence at King, and Zara Wells, Strategic Customer Success Manager at Looker

He’ll also cover the various other ways that King uses analytics across their entire company, from finance to performance marketing.

Why and how I transferred my career from finance to product management

The Product Coalition

Why and how I transferred my career from finance to product management was originally published in ProductCoalition.com on Medium, where people are continuing the conversation by highlighting and responding to this story. After college, I worked in financial services industry. Colleagues around me love what they are doing, and many people are trying to get into it.

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.

My Two Cents: A Robinhood Growth Analysis

The Product Coalition

finance investing growth product-management fintechHow a financial services startup acquired 4MM+ users in 3 years. You’re responsible adults. If you need to use the bathroom, just leave quietly.” Yes, I had a small bladder. Yes, I abused this privilege, but no, not in any traditional sense.

When You Need an Interim CFO vs. a Part-time CFO

The Product Coalition

Interim CFOs are finance experts who come in, usually on a full-time basis, typically for one to three months, to help steer a company through a financial crisis, an operations change, preparation for a sale, or the gap between one CFO’s departure and the hiring of a new one.

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.

Weekly Cash-Flow Model: When to Use One, and How?

The Product Coalition

business budget entrepreneurship finance business-developmentWho needs a weekly cash flow model? You own a fast-scaling company, and you’re growing your customer base steadily, but you’re still nervous. You almost didn’t make payroll last week.

18 Tax Prep Best Practices for Your Startup

The Product Coalition

We’ve heard time and again that clients feel their outsourced accountants and bookkeepers aren’t proactive and that they’re at the bottom of their finance team’s to-do list. Talk to one of our finance experts to see how we can help your business.

5 Quick Business Audits to Tackle in January

The Product Coalition

new-year smb entrepreneurship finance business-strategyOnce February hits, is the new year really the new year any more? Tackle your business audits in January! We all know about personal New Year’s resolutions. Go to the gym three times a week. Quit or cut back on smoking or drinking.

Lean Startup’s Eric Ries on How to Make ‘Gatekeepers’ a Source of Power and Speed

First Round Review

As companies add 'gatekeeper' functions like Legal, Finance, IT and Compliance, they tend to slow way down. But they don't have to. Here's how to lay the right foundation. Continue reading at First Round Review »

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.

Who Drives Pricing in Growth Companies?

Pragmatic Marketing

Oh, and don’t forget finance. Finance should not own pricing. From a reader: “Mark, I love your daily LinkedIn posts. Thanks for sharing. I find pricing to be a fascinating topic. Question: In your opinion, who should and who usually drives pricing within (tech) growth companies?

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.

Why Has Business Education Failed Business

Rahul Abhyankar

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

Dear Strategy: 055 Quantitative vs. Qualitative Goals

Dear Strategy

On this week’s episode, host Bob Caporale , founder of Strategy Generation Company and author of Creative Strategy Generation , answers the following question: Dear Strategy: “In a finance and numbers driven organization, how do you build a case on projects that have more qualitative benefits than specific quantitative benefits?”.

5 Pricing and Negotiation Hacks

Under10 Playbook

You’ll work with finance and executive leadership to define a standard pricing model including standard discounts. Most pricing challenges are not really about pricing but about discounting.

productboard Raises $8 Million Series A Led by Kleiner Perkins to Help Product Managers Get The Right Products to Market Faster

ProductBoard

San Francisco — July 12, 2018 — productboard, the leading product excellence system today announced it has raised $8 million in Series A financing led by Kleiner Perkins, with participation from previous Seed investors – Index Ventures, Credo Ventures, Reflex Capital, and Rockaway Capital.

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.

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.

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.

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?

Digital Transformation and Product Management

Roman Pichler

That’s often the case in my experience for businesses in finance, media, travel, insurance, and other verticals that traditionally don’t have product management groups, and where product management is not represented at the executive level. Recognise the Importance of Product Management.

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.

Your Role is not to Write Requirements

Ask Benny

Product management is the glue between engineering, marketing, business development, sales, customer support, customer success, finance, and other functions in the organization. Why product management role is so misunderstood. The Technical Aspect Throughout my career as product manager I have talked with many product managers from different companies, seen a lot of product management recruitment ads, and followed many product management discussions and lectures.

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.

Don’t Manage your Stakeholders from your Ego

Ask Benny

Who are your Stakeholders As a product manager you have many stakeholders: sales, support, marketing, business development, engineering, finance, compliance, legal, your product team and your VP product and sometimes in small companies even the CEO. Consider your stakeholders as valuable resources rather than obstacles you need to overcome. Let's Start with a Story A colleague product manager told me a story.

Women in Product Management: Marie-Pierre Belanger, VP Digital Solutions Product Management at Pitney Bowes

280 Group

I also have to work on the finance, which is tough, but you have to make it happen. For our next installment of the Women in Product Management Series I interviewed Marie-Pierre Belanger, VP Digital Solutions Product Management at Pitney Bowes. To read the entire series on Women in Product Management make sure to sign up for our newsletter. Don’t be afraid to take a risk to go in to Product Management.

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.

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.

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.

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.

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.

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.

Women in Product Management: Megan Schmidt, VP Product Management at CompuGroup Medical

280 Group

Initially, I had to learn a bit of finance and skills for presenting to stakeholders and executives. For our next installment of the Women in Product Management Series I interviewed Megan Schmidt, VP Product Management at CompuGroup Medical. To read the entire series on Women in Product Management make sure to sign up for our newsletter. I started out working in more of the technical side. I was working in laboratories and the biology field and ended up moving from research into industry.

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.

TEI 190: The 6 dimensions of top achievers- with Arthur Carmazzi

Product Innovation Educators

Finances. 22:34] Sixth dimension: Finances. Finances. Learn how product managers move from the middle of the pack to the front of the crowd. Product managers need to be high achievers and many are.

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.