The five stages of product strategy

ProductBoard

This is the story of how organizations evolve to pursue a clear product strategy in increasingly effective ways.

What you should consider when developing a product strategy

Craft.io

This blog has already addressed the different stages of Product Development Strategy. This time, we’re turning our attention to the various elements needed to formulate the right product strategy for your enterprise. Why you need a product strategy.

Why We Fail: What I Learned From 5 Years with Friends, Netflix’s Social Strategy

Mind the Product

I write a lot about product strategy, and use Netflix as an example so that others can learn from the company’s success and failure. As a strategy, social makes sense. Product leadership requires optimism. Netflix’s Friends (Born 2004, died 2010).

Building a Product Startup Within an Agency

Mind the Product

Every product comes with a tumultuous ‘origin story’. Ours is still unfolding, but I’ve been reflecting on what building a product business within a service agency has brought to the tale. Six months later we began building our first software product.

Close Your Eyes and Imagine a Strategy. Let Me Guess: Got Nothing?

The Product Coalition

Close your eyes for a minute and imagine a strategy. In Michael Porter’s books, or anywhere else, I haven’t been able to find many examples of what a strategy should look like. Here’s a proposal: open any book on strategy and go to the Index. Lookup “Strategy, an example of”.

The ABCs of Product – Melissa Perri on The Product Experience

Mind the Product

Melissa Perri is the product manager’s product manager – she’s able to do the job, explain it, and teach you how to do it better. Why good product people fail (sometimes). The Product Experience is hosted by Lily Smith and Randy Silver.

Some Strategy Mistakes I’ve Made

The Product Coalition

This is Part 3/18 in the series “How to Build an Innovative New Product or Company” on the topic of over-investing in the “4 Steps to Develop a Strategy” I was introduced to a medical device company recently. A company like this has a product and a unique technical insight.

Product Growth = People Growth by Nilan Peiris

Mind the Product

This rapid growth hasn’t been achieved by paid marketing; product evangelism has been the biggest driver of growth. NPS has often been touted as a metric to help product teams understand advocacy, and it’s a metric used at Transferwise too. Product Growth = People Growth.

Vision vs. Strategy

svpg

In recent articles on keys to product success and the alternative to roadmaps I have highlighted that if you want the benefits of product team empowerment and autonomy, then you need to provide each team with the necessary context in which to make good decisions. I’ve explained that the context typically needs to be the product vision, and a specific set of outcome-based objectives for each team (OKR’s are an effective way to do that). Product Vision.

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How To Cross the Strategy-to-Execution Chasm

The Product Coalition

Most companies fail in execution, not strategy. Defining strategy the right way can close the gap. Culture Eats Strategy for Breakfast.” Why Defining Product Strategy is Hard Strategy Overload One of the challenges with the word “Strategy” is that it is an overloaded term.

How important is product management for your startup?

The Product Coalition

Are you trying to wrap your head around the role of product management and why it is important for the venture? Still confused about the concept of product management? What is Product Management? It is the cornerstone of product management.

Product Operations Dashboard

Product Management Lessons from the Trenches

You reach out to all department heads and request to get data for your analysis: Marketing team for data on campaign conversion, customer support for data on call volumes, account team for data on customers feedback, product data for usage, etc. What is a product operations dashboard?

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Build the right thing

Inside Intercom

This week I gave a talk at The Next Web on the importance of your product strategy when scaling a company. When I speak to startups, I am often asked, “What is the one thing?” They’re all important because they work together to help build a successful product.

Product Discovery or Product Delivery: How do you Decide?

Mind the Product

What’s the fundamental difference between product discovery and delivery or execution? The degree of uncertainty should determine whether you need to run product discovery or whether you can begin to deliver a solution to your customer. appeared first on Mind the Product.

Taylor Wescoatt – Being the First Product Manager

Mind the Product

In working at Seedcamp and helping over 100 startups understand product thinking, Taylor Wescoatt has learned some valuable lessons he’d like to share, together with some real-world examples to drive the point home! Being the first product manager at a startup typically means being the 10th or 15th employee, and recognizing that – although product management has both tactical and strategic components – you’ll initially be more focused on tactics.

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Finding Your Product's Critical Event(s)

Product Management Lessons from the Trenches

Finding Your Product’s Critical Event(s) By now you have most likely heard the phrase “build it, they will come”. There is an App for that”) and simply building a product doesn’t guarantee a successful business. growth startup-lessons product-management product-strategy product

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Define the Formula that Drives the Business

Product Management Lessons from the Trenches

My passion for building businesses and products started years ago when I had the opportunity to co-found my own start-up. We built a product that many loved and could see the potential in, but at the end couldn’t scale it into a successful business.

Required reading for marketplace startups: The 20 best essays

Andrew Chen

The current generation of marketplace startups has been incredibly successful. We look at a lot of marketplace startups at Andreessen Horowitz @a16z – and we fund a lot of them! Product strategy for marketplaces.

Growing up Lean: Lean Strategies for Maturing Products

Mind the Product

Building an MVP and launching a product is actually the easy part. The Product Lifecycle. We all know the product lifecycle chart. Product Lifecycle. But in reality, it’s not where most product managers spend their time. Step 1: Set your product vision.

Truth needs to be told?—?startups fail because CEOs have lousy bosses

The Product Coalition

startups fail because CEOs have lousy bosses Why do startup fail? you’ll find hundreds of articles, most pointing to the same reasons: No market need Ran out of cash Team problems Pricing/product/business models issues Competition One small problem I have with these reasons.

Managing Products that Lose Money

ProductPlan

It should be counterintuitive, but one thing many “unicorns” and scrappy startups have in common is a whole lot of red on their balance sheet. Business plans aren’t supposed to spend more time on their exit strategy than their actual, you know, business.

Serve Fewer Markets. Win More Deals.

bpma ProductHub

Reprinted with permission from the Product Management and Strategic Marketing Blog. The top challenge most product companies face is finding the best market for their product. Let’s review a couple of scenarios: Scenario one – company has an existing product portfolio.

Making things people want

Inside Intercom

The products they hire to solve these problems change all the time. If you’re building a new product, it’s because you believe you can create a better solution that people will want to use because it delivers a better outcome.

Where does your product team fall on the strategy maturity curve?

ProductBoard

This is the story of how organizations evolve to pursue a clear product strategy in increasingly effective ways.

How Compare and Contrast Decisions Lead to Better Product Outcomes

Product Talk

This past week I was in London speaking at Mind the Product. As usual, the Mind the Product team hosted a phenomenal event. When Mind the Product releases the video, I’ll add it to this post. Like many product teams, we had some tough challenges to address.

Why you Should Organize Product Teams Around Customer Experiences

Mind the Product

The world is full of examples of well engineered products that have failed to make an impact. Such products can feel like a collection of features rather than a product with a focused value proposition. I think that the way that product teams are organized can contribute hugely to this problem. This is because product development teams are often optimized around software delivery or optimal resource utilization. For product discovery?

How Atlassian built a $20 billion dollar company with no sales team

Inside Intercom

When you think about how “traditional” enterprise-focused firms – think Microsoft, Oracle and IBM – sell software, it usually follows a well trodden formula: negotiations, long sales cycles and a “checklist” of features demanded by decision makers who seldom use the products they buy.

What Happens When you do User Discovery After Market Traction

Mind the Product

Among other things, it was soon clear that we’d fallen into a common trap for startups and new products. Whatever your feelings about prescription drug marketing, Merck understood the need to reposition the product so it was tailored to the motivations of a different segment. We launched UserMuse with what we believed to be a deep understanding of our primary market: product managers at B2B software companies.

Forget about Growth. Here’s the Metric that Really Matters.

ProductPlan

Whether they’re exceeding expectations or falling short, how many users being added is an inevitable focus area for the entire organization, and product managers are often tasked with growth-related responsibilities. Product Management Product Strategy

The Dark Side of Product KPIs

The Product Coalition

Why can data generated KPIs limit your product? Product KPI is defined so we can measure how well the new feature works or resolve an AB testing. That’s why it is only natural that when we come to set the KPI for a new product or feature, we start by looking at the data.

Innovation is Broken by Janice Fraser

Mind the Product

These programs are great for changing attitudes but they have all failed to deliver the hypergrowth products that their parent companies crave – because the parent organisations don’t know what to do with the output from them. What is the point of innovation?

Good Enough

Tyner Blain

We hear a lot about building products which are “good enough” or “just barely good enough.” There are several perspectives on good enough which are important – but don’t help product managers enough.

What we can Learn from Electric Scooter Companies like Lime and Bird

Mind the Product

South Park devoted an episode to making fun of the hype before the product was released. And that’s a hugely important lesson for startups and product managers alike. So let’s stop thinking great products can only come from great engineers or great designers.

K.I.S.S??—?my ass!

The Product Coalition

We’ve been using Keep It Simple Stupid (KISS) as a guiding mantra for the products we are developing for a long time now. Time to bust the myth once and for all It actually makes a lot of sense to make a ‘simple’ product. Who wouldn’t want to design a product all the way through.

How Product Managers Measure Product-Market Fit

ProductPlan

This reality beckons startups and established firms to introduce new products that will scratch that itch and deliver satisfaction. Whether the products they offer (and the price they sell them for) match the demand is (part of) where product-market fit comes in.

What we learned moving sales and product upmarket together

Inside Intercom

As Intercom’s customer base moved upmarket, it became increasingly obvious to us in Sales that what worked well in our product for early-stage startups didn’t for larger companies. To fix it, we had to change how we worked with our product team. We created our first sales function in 2014 and in the busyness of building out the team, we had little time to reflect on how our experiences on the frontline of sales could add value to our product roadmap.

Managing up as a newbie product manager

Roadmunk

I’ve been Roadmunk’s newest product manager for 120 days (give-or-take). I say peculiar for a couple of reasons: I joined a product organization as a product manager for a tool for other product managers. An ability to sell the product you’re making.

How people will find your product

The Product Coalition

Photo by Denys Nevozhai on Unsplash Defining of how people will get in touch with your product is something every startup should do very early on. There are many different ways people can get in touch with your product.

A Roadmap Doesn’t Have to Lead to Broken Promises

Mind the Product

” “Why don’t I see anything planned for product Y next year? For many product people, this is the nightmare scenario of sharing their product roadmap. Boston startup InsightSquared has developed a culture of transparency.

Third-Party Software Integration: Best Practice, Perils and Pitfalls

Mind the Product

Product management teams often ask themselves if third-party integration is right for their software product roadmap. The thinking is that you should integrate with products such as Salesforce and Slack, because you never would want to try to build those sorts of products by yourselves.