Richard Khan Product Management - Tools of the Trade

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Date: December 17, 2014

Time: 9:00 am - 10:30 am (Atlantic Time)

Location: Deloitte, 1969 Upper Water Street, Suite 1500 Purdy's

Wharf Tower II, Halifax, NS B3J 3R7

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IntroductionIntroductionIntroductionIntroduction

Why is Product Management Important?Why is Product Management Important?Why is Product Management Important?Why is Product Management Important?

Product Management Product Management Product Management Product Management ---- Tools of the TradeTools of the TradeTools of the TradeTools of the Trade

What is Product Management?What is Product Management?What is Product Management?What is Product Management?

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Richard Khan Richard Khan Richard Khan Richard Khan –––– Product ManagerProduct ManagerProduct ManagerProduct Manager

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[email protected]

CompaniesCompaniesCompaniesCompaniesFastLane/Quest, abridean, SureShot,

Welaptega, HealthConnex and

ResMed/Umbian.

• Enterprise software

• Web services

• Hardware appliances

• Network management, ehealth

• Emarketing

• Oil and gas.

• Product Advisor - Product Management web

service

• Network member of Volta StartUp incubator

• Speaker – ProductCampAtlantic, Halifax, Oct 2014

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Verticals, Verticals, Verticals, Verticals,

product typeproduct typeproduct typeproduct type

OtherOtherOtherOther

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http://www.inc.com/alan-ying/why-product-management-is-everything.html

Why is Product Management ImportantWhy is Product Management ImportantWhy is Product Management ImportantWhy is Product Management Important????

‣ “Are you a product or a company?”

‣ A product takes off, competition comes in, customers

become pickier, and sales slow down

‣ Product management becomes critical when your

prospective customers need you to sell them more

than one thing in order to become paying customers.

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ALAN YING Managing Director, Polus Capital


‣ In most cases customer needs will exceed the

founder’s vision, and the organization--not the

founder--must have a mechanism in place to

accommodate the expansion of customer needs.

‣ When a startup masters the art of product

management, they can grow beyond the founder and

their first product vision and become a real company.

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ALAN YING Managing Director, Polus Capital


“Some companies approach software development as an

engineering management challenge.

Others approach software development as a product

management challenge.

Good companies manage Engineering.

Great companies manage Product.”

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Thomas Schranz - blogger and CEO & Co-founder of Blossom Project Management Tool


“Without sales, nothing would get sold.

Without engineering, nothing would get built.

Without support, customers would leave.

Without product managers? Life would be just fine. (For

a while.)”

Organizations become Organizations become Organizations become Organizations become reactive rather than reactive rather than reactive rather than reactive rather than proactiveproactiveproactiveproactive

“There is no shortage of good ideas; the key question is “There is no shortage of good ideas; the key question is “There is no shortage of good ideas; the key question is “There is no shortage of good ideas; the key question is

what is the opportunity cost of not selecting the best”what is the opportunity cost of not selecting the best”what is the opportunity cost of not selecting the best”what is the opportunity cost of not selecting the best”

Richard Khan

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Kenneth Norton, Google Ventures

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Product ManagementProduct ManagementProduct ManagementProduct Management

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Product Management Product Management Product Management Product Management –––– essentially:essentially:essentially:essentially:

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Martin Eriksson


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Gantt Gantt Gantt Gantt Chart Chart Chart Chart –––– MS ProjectMS ProjectMS ProjectMS Project

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• Gantt Chart – for inter-department coordination• Single page Visual aid rather than cost accounting

Swim Lanes Swim Lanes Swim Lanes Swim Lanes –––– MS VisioMS VisioMS VisioMS Visio

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• Single page visual aids rather than formal Business Analyst document• Illustrates processes

Milestones & Schedule Milestones & Schedule Milestones & Schedule Milestones & Schedule –––– MS ExcelMS ExcelMS ExcelMS Excel

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• Schedule – coordinate departments• Single page visual aid

Day in the (real) life of a Product ManagerDay in the (real) life of a Product ManagerDay in the (real) life of a Product ManagerDay in the (real) life of a Product Manager

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VP Product Management

Key Sales Person

Support Manager

VP Marketing

VP Sales

Bruce McCarthy, Reqqs

Agile Is Not a Product Management Agile Is Not a Product Management Agile Is Not a Product Management Agile Is Not a Product Management FrameworkFrameworkFrameworkFramework

‣ The fundamentals of good product management

remain the same, regardless of development

methodology

• Understand the market and customer needs

• Design products that address those needs while meeting

financial or other goals,

• Take responsibility for the overall commercial success of

products and manage each product through its entire

lifecycle.

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• Jeff Lash, Service Director, Product Management at SiriusDecisions

• SiriusDecisions: a leading global b-to-b research and advisory firm

Agile Is Not a Product Management Agile Is Not a Product Management Agile Is Not a Product Management Agile Is Not a Product Management FrameworkFrameworkFrameworkFramework

‣ Many crucial product management elements are

unrelated to the product development process

• Market sizing

• Pricing

• Sales enablement.

• To equate agile with a product management process is to

ignore product managers’ other responsibilities toward

making their products commercially successful.

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‘When we ask clients about their new-product innovation and go-to-market process, they often respond with:

"We use agile." There's just one problem: Agile isn't a process for product management. It's a method for

product development.’

Product Management & agileProduct Management & agileProduct Management & agileProduct Management & agile

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DeliverablesDeliverablesDeliverablesDeliverables

‣ Market ResearchMarket ResearchMarket ResearchMarket Research

‣ PositioningPositioningPositioningPositioning

‣ Marketing Requirements Document (Marketing Requirements Document (Marketing Requirements Document (Marketing Requirements Document (MRDMRDMRDMRD))))

‣ PrioritizationPrioritizationPrioritizationPrioritization

‣ RoadmapRoadmapRoadmapRoadmap

‣ PricingPricingPricingPricing

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include:

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Deliverable: PositioningDeliverable: PositioningDeliverable: PositioningDeliverable: PositioningProduct Management Tool: “Messages That Matter”

Deliverable: Product RoadmapsDeliverable: Product RoadmapsDeliverable: Product RoadmapsDeliverable: Product RoadmapsProduct Management Tool: Reqqs, Aha!, ProductPlan, ProdPad

Deliverable: Market Requirement Document Deliverable: Market Requirement Document Deliverable: Market Requirement Document Deliverable: Market Requirement Document etcetcetcetcProduct Management Tool: Methodologies with Templates

Product Management Tool: Product Management Tool: Product Management Tool: Product Management Tool: Training Training Training Training and Consultingand Consultingand Consultingand Consulting

Deliverable: Primary ResearchDeliverable: Primary ResearchDeliverable: Primary ResearchDeliverable: Primary ResearchProduct Management Tool: Thought leaders and Culture

Product Management Tool: Professional Groups and

Bloggers

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Primary Market ResearchPrimary Market ResearchPrimary Market ResearchPrimary Market Research

Steve Johnson - Under 10 &

Product Focus in UK

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ResearchResearchResearchResearch

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American cultural anthropologist


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You’ve heard marketing people say it

for years and years: “Listen to the

customer.” And they are just wrong.

You don’t want to listen; you want to

observe. People cannot describe

what they do in words. Watch their

actions instead.

Steve Johnson - Under 10


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Bloggers

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PositioningPositioningPositioningPositioning

‣ httphttphttphttp://www.messagesthatmatter.com://www.messagesthatmatter.com://www.messagesthatmatter.com://www.messagesthatmatter.com////

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Tool of the Trade – “Messages That Matter”Messages That Matter”Messages That Matter”Messages That Matter”

What is positioning?What is positioning?What is positioning?What is positioning?

• How your products and services are situated in the minds

of customers and target audiences.

• A position is a buyer’s shorthand for the best solution for a

particular problem.

‣ Why is positioning important?Why is positioning important?Why is positioning important?Why is positioning important?

• Positioning is the foundation for all your marketing

communications

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DifferentiationDifferentiationDifferentiationDifferentiation

‣ We are bombarded with approx. 4,000 commercial

messages every day

‣ Differentiation is the holy grail of marketing.

• Yet most B2B technology markets are filled with

companies who embrace “me too” marketing; they are

saying exactly what their competitors are saying.

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For (target customer)

who (statement of need or opportunity)

the (product name) is a (product category)

that (statement of key benefits, that is, the

compelling reason to buy)

unlike (primarily competitive alternative)

(our product) (statement of primary differentiation)

Product Position Statement Template

The Product Position Statement

For World Wide Web users who enjoy

books, Amazon.com is a retail bookseller

that provides instant access to over 1.1

million books. Unlike traditional book

retailers, Amazon.com provides a

combination of extraordinary convenience,

low prices, and comprehensive selection.

Perceptual Mapping ToolPerceptual Mapping ToolPerceptual Mapping ToolPerceptual Mapping Tool

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identify open space to own with a unique market message.

Enterprise business

intelligence market

Four Quadrant DiagramFour Quadrant DiagramFour Quadrant DiagramFour Quadrant Diagram

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Use to compare items by two independent attributes

XXXX----Axis (Negative)Axis (Negative)Axis (Negative)Axis (Negative) XXXX----Axis (Positive)Axis (Positive)Axis (Positive)Axis (Positive)

YYYY----Axis (Postive)Axis (Postive)Axis (Postive)Axis (Postive)

YYYY----Axis (Negative)Axis (Negative)Axis (Negative)Axis (Negative)

First ItemFirst ItemFirst ItemFirst Item

Second ItemSecond ItemSecond ItemSecond Item

Third ItemThird ItemThird ItemThird Item

Fourth ItemFourth ItemFourth ItemFourth Item

Fifth ItemFifth ItemFifth ItemFifth Item

Final ItemFinal ItemFinal ItemFinal Item

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Bloggers

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https://www.siriusdecisions.com/Blog/2014/Dec/Infographic-Product-Management-

Tools-and-Technology-2015.aspx

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https://www.siriusdecisions.com/Blog/2014/Dec/Infographic-Product-Management-

Tools-and-Technology-2015.aspx

SiriusDecisions has identified the following minimum

requirement that a product planning, prioritization and

roadmapping solution must meet:

‣ Designed for product Designed for product Designed for product Designed for product managementmanagementmanagementmanagement

Additionally, at least one of the following:

‣ Feedback Feedback Feedback Feedback aggregation. aggregation. aggregation. aggregation.

‣ Feature/idea Feature/idea Feature/idea Feature/idea prioritization. prioritization. prioritization. prioritization.

‣ RoadmappingRoadmappingRoadmappingRoadmapping

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Product Prioritization and Roadmapping Product Prioritization and Roadmapping Product Prioritization and Roadmapping Product Prioritization and Roadmapping

Solutions for Product ManagersSolutions for Product ManagersSolutions for Product ManagersSolutions for Product Managers

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ReqqsReqqsReqqsReqqs Aha!Aha!Aha!Aha! ProductPlanProductPlanProductPlanProductPlan

Roadmap tool for product

people

Currently in Beta

Priority = Value/Effort

Covers high-level strategy,

vision, idea management,

roadmaps and features. Also

day-to-day development

progress.

$59/month/user

Visualize, organize, and

communicate a company’s

product strategy

$24/month/editor

Viewers - free

Product Prioritization and Roadmapping Product Prioritization and Roadmapping Product Prioritization and Roadmapping Product Prioritization and Roadmapping

Solutions for Product ManagersSolutions for Product ManagersSolutions for Product ManagersSolutions for Product Managers

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ProdPadProdPadProdPadProdPad

Capture ideas. Prioritise. Build

roadmaps. Integration.

$59/month/3 users

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Bloggers

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Product Management Methodologies and Product Management Methodologies and Product Management Methodologies and Product Management Methodologies and

Template SetsTemplate SetsTemplate SetsTemplate Sets

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BlackBlotBlackBlotBlackBlotBlackBlot 280 Group280 Group280 Group280 Group SequentSequentSequentSequent

Blackblot Product Manager's

Toolkit® (PMTK) is a template

collection for product

managers

US$99 lifetime subscription

Strategic consulting,

methodology to optimize

Product Management

All eight 280 Group toolkits

including templates - $399

Training and advisory company

focused on Product and

Business Management

Product Management Bundle:

14 Templates - $100

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Bloggers

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Product Product Product Product Management Management Management Management Education, Training, Education, Training, Education, Training, Education, Training,

and Consultingand Consultingand Consultingand Consulting

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Pragmatic Pragmatic Pragmatic Pragmatic

MarketingMarketingMarketingMarketing

PichlerPichlerPichlerPichler

consultingconsultingconsultingconsultingProduct focusProduct focusProduct focusProduct focus

Training and methodology

Most well known in NAmerica.

- 20 years. Alumni resources.

$995/day

Independent & productive in

UK. Training, author, template

tools. Scope includes agile

and UX.

$1100/day

Product management training

Telecoms, IT and Software in

UK. Great journal!

$2340/3 day course

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Bloggers

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Product Management Professional Groups Product Management Professional Groups Product Management Professional Groups Product Management Professional Groups

and Conferencesand Conferencesand Conferencesand Conferences

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Product CampProduct CampProduct CampProduct CampMind the Mind the Mind the Mind the

ProductProductProductProduct

Product Product Product Product

Management Management Management Management

AssociationsAssociationsAssociationsAssociations

Free, user-driven, collaborative

"unconference" for Product

Managers and Marketers.

Originated in US, spreading!

Event happened in Halifax in

Oct 2014

Exchange ideas & experiences

about Product Management,

Business Modelling, Metrics,

Usability

Started in UK, spreading

Enhance professional

development of product

management/marketing -

skills training, job resources,

mentoring, educational

seminars, and networking

Product Management Bloggers, Thought leaders, Product Management Bloggers, Thought leaders, Product Management Bloggers, Thought leaders, Product Management Bloggers, Thought leaders,

Authors and Consultants Authors and Consultants Authors and Consultants Authors and Consultants ---- IndependentIndependentIndependentIndependent

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“Organizations need fewer

than 10 living documents to

manage their products” Steve

Johnson - classic trainer,

thought leader, author,

consultant

“The Cranky Product Manager

is the fictional, snarky alter-

ego of a mild-mannered

software product

management professional”

Great! Ha ha

Rich Mironov – consultant,

blogger, author, workshops.

Product Management Bloggers, Thought leaders, Product Management Bloggers, Thought leaders, Product Management Bloggers, Thought leaders, Product Management Bloggers, Thought leaders,

Authors and Consultants Authors and Consultants Authors and Consultants Authors and Consultants ---- IndependentIndependentIndependentIndependent

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Content from domain experts Insights, tips, tools and

techniques for Product

Managers

Derek Morrison

Blog providing resources and

tips on good product

management practices. Jeff

Lash - Service Director for the

Product Management advisory

service at SiriusDecisions.

How How How How To Be A Good Product To Be A Good Product To Be A Good Product To Be A Good Product

ManagerManagerManagerManager

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Thank you!Thank you!Thank you!Thank [email protected]

Richard Khan Product Management - Tools of the Trade

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