It’s rare for me to find a company whose strategy is specific and actionable enough to prioritize product work. When faced with a laundry list of strategies filled with 5, 8 or 13 tactical goals, it can be very difficult to prioritize anything.
While most of your roadmap initiatives support one tactic or another, each functional group will call out for new initiatives that match other objectives and they’ll want the entire development effort in the upcoming release.
However, their backlog of worthy improvements will be infinitely deep. What ends up happening is each functional group (engineering, sales, support, marketing) has competing internal interests and a different set of criteria, metrics, justifications and value stories. …
We’ve all been there. Your very first break into product management. In the startup world, a lot of people become product managers by default rather than design. People think that product managers operate this very critical, high-leverage function that, when executed correctly, greatly facilitates the leap past prototypes into a steady return of profits. But when things go wrong, there’s nothing worse for a product manager than losing credibility with their team, executives and customers. Sometimes there’s no going back.
When product management is done poorly, it can create scary and often frightening moments. Get ready because the following article is our 1st Annual Halloween Product Management Spooktacular. …
Many CEOs will tell you that they’re the best-informed people when it comes to knowing what customers need — and that they’re in the best position to drive decisions on product priorities. What happens here is that these expectations and this type of behavior become the primary contributor to product strategy gridlock.
As product managers, you’re often probably delayed by the time-consuming document assembly necessary for ‘spaced repetition’ of the roadmap strategy. As you well know, repeating your product strategy often leads to better recall later on and prevents any misalignment in the future. One of the best ways to increase the strength of memory is through this repetition at regular intervals, targeting communication and engagement approaches.
And while keeping everything in a task management tool (i.e. Jira, Trello, Asana project boards) works fine, it requires the product managers to remind everyone of the roadmap strategy, including the why, what and how. …
Most companies don’t have a clear picture of their roadmap. This is the reason why many businesses fail, so the question to many business owners out there is this: are you confident that your engineering team is building the right features? Bain Public’s SOAP™ methodology and tool offers a full picture of your product strategy, tactics, metrics and roadmap all in one place. So there’s no more guessing, no lack of focus or direction. Bain Public companies grow faster because everyone is aligned, motivated, inspired, and ready to innovate.
But first, what is SOAP™?
SOAP™ is a methodology that Bain Public created for product planning and roadmap prioritization based on principles of Product Strategy, Lean Startup, User-centered design, Data Science and more. …
We took some time to look at which product management illustrations — our clients, followers and supporters — found the most interesting. We really enjoy bringing you constructive and a typical product management research, practical work advice, and analysis. It is very rewarding to think about the content that fits into product managers lives and makes their work better. Here are some illustrations that are most useful and important today.
Product Lifecycle management:
The Strategy wheel:
Product/Market fit over time:
Feature complexity vs value over time:
Product adoption over time:
Product growth over time:
Willingness to pay vs perceived value:
Impact vs Effort…
It is a known fact that startups which are accompanied or coached, view their chances of success as being much higher compared to those that are not. In fact, 83.9% of accompanied startups assess their chances of survival as strong, especially during the current uncertain climate. The right mentoring and coaching support facilitates a startup’s transformation and enables roadmap planning and execution, without straying from the ultimate vision and goal.
If your chances of survival increase thanks to the right coaching support, where and how do you get the help you’re looking for?
MAIN: Developing Entrepreneurship in Quebec
MAIN, also known as Mouvement des accélérateurs d’innovation du Québec, states that their mission is “to improve the cohesion and efficiency of the business incubator and accelerator ecosystem and to increase its impact on the development of entrepreneurship and innovation in Quebec.” …
It is a one-page document that works through the fundamental elements of a business or product, structuring your idea in a coherent way. Use it to quickly draw a picture of your business, to get a better understanding, and to go through the process of making connections.
The Canvas is popular with entrepreneurs and intrapreneurs for business model innovations. Mainly because it improves the clarity and focus on what’s driving your business. It’s flexible and your team will have a much easier time understanding your business model on one page.
As today’s uncertain market rapidly changes, remaining successful requires a more entrepreneurial product-orientation. Faced with breakneck business and product growth, roadmap decisions need to be non-bureaucratic, yet remain collaborative at the same time.
During these changing times, knowledge creation is essential. It’s now more important than ever to scan the external environment for signals, look across the market for unmet customer needs, identify significant opportunities about to unfold as well as seize them, integrate them and make use of them commercially.
You have products that deliver tremendous value for your customers and significant revenue and profitability for your business, but what if everything was about to change significantly, and you had insights into those changes? …
According to Alpha’s 2020 Product Management Insights Report, product management has entered the c-suite. As product management influences more high-level decisions and business strategies, partner alignment/collaboration becomes key. Yet the time and rigor required to gather/validate consumer insights are often at odds with the agility required to maneuver internal politics, leaving a huge window of opportunity for improved collaboration between c-suite executives and product teams.
Beneath all the activities that lead to a product roadmap, OKRs being met, and the cultural alignment element with its emotions, egos, unique styles and different goals, there lies a product leadership truth from this increasing strategic role: The less prepared you are for meetings, the better you’ll ask questions, listen and influence. …