Product management in an era of disruptive innovation
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Transcript of Product management in an era of disruptive innovation
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Product Managementin the era of
Disruptive Innovation
Krishnan & Nag at SP Jain, Aug ‘12
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The product manager is the product’s CEO
ProductManagementR&D
Sales (+ Marketing)Markets + Customers
Executives
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The product manager is the product’s CEO
ProductManagementR&D
Sales (+ Marketing)Markets + Customers
Executives
budgets staff
targets
strategy forecastscommitmentscompetitive intelligence
segmentation, messagespricing, roadmap, demos
market feedback
product
MRD, roadmap, priorities, personas
Source: Rich Mironov
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Once upon a time in Product Management land…
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Product Management (‘70s-’00s)
Develop conceptGet funding
Build product Alpha / beta test
Customer Shipment
Write business plan
Build the product Test / fix Ship / fix
Planning / collateral PR / plan launch Launch / Demand gen.
Initial sales rep Build sales team / selling
Build product and offering
Alpha testMarket test
Big-BangLaunch after
3-5 years
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Cautionary tale
Source: Steve Blank
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1987: Iridium founded
1990: Spun out
of Motorola
1997:Launch
1998:Bankrupt
$5.2b investment15 rockets
72 satellites
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1987: Iridium founded
1990: Spun out
of Motorola
1997:Launch
1998:Bankrupt
$5.2b investment15 rockets
72 satellites
Target price: $7/minTarget users: 42million
Viable price: $0.5/minActual users: 30,000
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Develop conceptGet funding
Build product Alpha / beta test
Customer Shipment
Build product and offering
Alpha testMarket test
Unbridled enthusiasm
Rude awakening
False sense of security
Resettingexpectations
Predictable disaster
“Big Up Front Design”
Big-BangLaunch after
3-5 years
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Disruptive change is becoming commonplace
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Dramatic change of fortunes
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Source: Innosight – “Creative destruction whips through Corporate America”
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Source: Innosight – “Creative destruction whips through Corporate America”
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Agony and Ecstasy
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Launched: 2007$22b / qtr
Founded: 1975$17b / qtr
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Reasons for increasing pace of disruptive change
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90-95% of new ventures fail to meet projections
The old ways of Product Management aren’t working
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Adaptive Product Management
Limited planning, more experimentation and exploration
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Develop conceptGet funding
Build product Alpha / beta test
Customer Shipment
Build product and offering
Alpha testMarket test
BUFD
Front-end planning & design
Back-end execution
Big-BangLaunch after
3-5 years
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Existing market New marketE
xist
ing
p
rod
uct
New
p
rod
uct
Highest success rate
Lowest success rate
When does BUFD work?
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BUFD is unlikely to work for…
Start-up companies
New products in established companies
Major new features/markets for established products
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Visionaries
Steve BlankCustomer Development
Martin FowlerAgile Methods
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2 stages of Customer Development
Search Scale
Source: Steve Blank
Focus on Experimentation
Focus on Execution
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Iterative model – with checkpoints
Customer
discovery
Customer
validation
Customer
creation
Business
expansion
Pivot / Course correct
Search Scale
Source: Steve Blank
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Search Principle # 1: Business Model Canvas
VALUE
PROPOSITION
CHANNELS
CUSTOMER
RELATIONSHIPS
CUSTOMERSEGMENTS
REVENUE STREAMS COST STRUCTURE
KEY
PARTNERS
KEY
RESOURCES
KEY
ACTIVITIES
Source: “Business Model Generation”, Osterwalder & Pigneur
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iTunes market place
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Search Principle #2: Minimum Viable Product
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Minimum
Viable
Too-basic products no one wants
Incumbentproducts
Minimum + ViableFertile area for new
products
Source: Start-up Chronicles
• Demonstrate value• Gather feedback
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If you’re building an Excel competitor, what’s the MVP?
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Minimum Viable ?
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Minimum Viable ?
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Minimum Viable Product for Google Docs
Value prop
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Learn
Ideas
Build
OfferingMeasure
Data
Minimise the total time through the
loop
Search Principle #3: Focus on exploration
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How it all fits together
Agile software development
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Predictive (BUFD) | Adaptive
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If da Vinci was an adaptive painter…
Source: A Series of Tubes
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