These are some of the interesting things I came across while reading books, on internet and from my own thinking in the context of product management. I thought it would be nice to share with you too.
Consider the list below as a starting point to spark inspiration and keep your team focused on delivering its best work:
- How are the most important initiatives progressing?
- Which inefficiencies or blockers need to be addressed?
- Are we satisfied with team velocity?
- Are there any capacity issues that need to be resolved?
- What product features are the most and least used?
- Where are users getting stuck and abandoning our offering?
- What percentage of trials convert to paid accounts?
- How many accounts are growing vs. how many are shrinking?
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If “Why” is the goal you want to achieve along with a value metric to validate the business objective and the “Who” is the actor performing the act, you can identify “How” you can achieve this impact. Once the impact is identified, you can come up with “What” is needed. This is your deliverable. The resulting impact map allows you to compare the various options and measure the outcome.
Each deliverable in turn can be broken down into tangible Product Backlog items, in the form of user stories, for example. Given that the goal, the actor, and the deliverable are established, defining the Product Backlog items is more straightforward.
An Excerpt From:
Every company on earth knows “What” services or products they do.
Some companies know “How” they do it. This sets them apart from the rest and makes them somewhat special.
Very few organizations know “Why” they are doing what they are doing. The “Why” is not about making money. Money follows result. The “Why” is the reason the company exists.
What is Product Culture?
It is an environment where product management is practiced (as we define it), where it is valued by the business, and where PMs can thrive and grow.
Quite simply: a place that lets you do the job and deliver products that solve customer problems.
Bringing the Donuts Newsletter – by Ken Norton
An opportunity assessment is an extremely simple technique but can save you a lot of time and grief.
Ask these four key questions:
- What business objective is this work intended to address? – Objective
- How will you know if you’ve succeeded? (Key results)
- What problem will this solve for our customers? (Customer problem)
- What type of customer are we focused on? (Target market)
“INSPIRED” – by Marty Cagan
The purpose of product discovery is to address these critical risks:
- Will the customer buy this, or choose to use it? – addresses the Value risk
- Can the user figure out how to use it? – addresses the Usability risk
- Can we build it? – addresses the Feasibility risk
- Does this solution work for our business? – addresses Business Viability risk
“INSPIRED” – by Marty Cagan
The customer always comes first; the money follows. In the end, it is about money, but do not let the money blind your actions. Do not let the money betray your customer loyalty or your desire to make a customer smile. In the 21st century, the customer is king, not the cash.
Right? What do you think of it? Money should never blind what you are trying to achieve. Focus on value to the customer. The money will surely follow you. Look at Jeff Bezos and his ideology, providing value to the customer. He always puts the customer first.
“Too much of our startup industry has devolved into a feeder system for giant media companies and investment banks. Part of the giant media companies and investment banks. Part of the reason established companies struggle to invest consistently in innovation is intense pressure from public markets to hit short-term profitability and growth targets.”
This is so true. Our current stock exchanges run by financially focussed shareholders, media companies, banks, and greedy short term traders cannot help the innovations to sustain for long. When companies get scaled and enter public markets, they tend to slow down and change their focus on addressing market-related issues to increase their market cap. This is insanely true. Eric proposes a new exchange “Long Term Stock Exchange” to combat this issue. I support that idea.