December 18th to 21st I was in Bangalore attending the Strategic product Management course for planners and Marketers conducted by Confianzys a 360o product management company. It was a 8hr * 4days * 800 slides program and i thought dooms day had already come. J I enjoyed the extremely well designed program and Mr Ramesh from Confianzys facilitated the sessions brilliantly. I thought I could share my top 10 learning’s from this 4 day program. Here we go
1) Design the product for the user and market it for the buyer. This was drilled into our heads on all 4 days as most of the time many make a very costly mistake of doing the reverse. We saw a video where Steve Balmer shouts “Developer, Developer, Developer, Developer” like there is no tomorrow. I am going to start shouting User, User, User, User yes I am going to love all my users.
2) DILO and M2F. Day In The Life Of and Monday to Friday are simple but very powerful tools for understanding the users. The product planner has to identify and articulate market requirements whose main goal is to have satisfied product users and buyers.
3) There are 3 main product delivery strategies to create successful products. Technology driven, Sales driven and Market driven. Charles Lamb says Technology is a good walking stick and is not a replacement for the Leg so its always better to present your product as a Market driven product as they have the mantra “This is likely to fit you. It will probably serve you well”
4) PMTK problem echelon model was discussed on all 4 days and we learnt that consumer problem (B2C) is where the product managers have to strictly focus on Product problem is the role of the product architect and Technology problem is the role of the lead developers. Never never never cross the lines. Remember
Market opportunity = Sum (Market problem + Volume+Duration+Early Potential)
5) When you do a Market Research be Inductive (Look for patterns), Intutive and be immersive (be in it all time). Most important is understand SKEPTIC ie Social, Kompetitive , Economical, Political, Technology, Industry and Citizens. Market intelligence is a ongoing real time market data collection and analysis process. Collect your best data when you don’t need it. When you do it in a hurry you will most likely miss the most obvious ones
6) Understand TALC the Technology Adoption Life Cycle. When I am designing the product how do I take it from early adopters to early majority stage without falling into the chasm. When you do a product positioning take a set of around 8 parameters which could be cost, benefits, features ….Take 2 parameters and keep them in X and Y axis carefully choose which should come where. Map your product and your competitors against these parameters and see where you stand.
7) Market Requirements Document or MRD is the duty of the product planner. MRD should always focus on what to solve?. How to solve and How to build is not the duty of the product planner. Once the architect completes the product requirements document (PRD) the MRD and PRD are compared with each other and planner comes with a road map which is validated by the architect. MRD must contain
Market Requirement, Product Feature, Product Attribute and Technical Specification
8) A product manager has to read and read lot of good books. Here are few books which were quoted in the 4 days of the workshop
a) Crossing the Chasm – Geoffrey Moore
b) inmates are running the asylum – Alan Cooper
c) Videos of Jaya Rao a former Univer lever prod mgmr in Youtube
d) In the age of smart machine – Shoshana Zuboff
e) how we decide -jonah Lehrer
f) Art of Choosing – Sheena Iyengar
g) The Lean Start up – Eric Reese
h) Customer Centric product design – Sheila Mello
The list is long but to be successful in product management you should at least be cognizant about these books.
9) Persona is a fictional representative of the user archetype and products should always be built for the Active/ Dominant persona. The requirements of the rest will be met if the active personas requirements are met. Hunt for your active persona.
10) In the Marketing and the sales process of a Products MEAN ACTS play a very major role.
Need and these form the Market Process
Areas of Uniqueness
Size . and these form the sales process..
I was overall very satisfied and happy in the 4 days of the workshop. Next step is to try and see if I can crack the certification.