PCT 2010 - 5 min- Product Management Axioms
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Saeed Khan explains 4 fundamental rules that all Product Managers should follow to improve their odds of success in their role.
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PCT 2010 - 5 min- Product Management Axioms
- 1. Product Management Axioms Rules to Follow for Product Management Success Saeed Khan Twitter: @saeedwkhan, @onpm http://www.onproductmanagement.net
- 2. Every Activity is part of a Sale Axiom # 1
- 3. Product Management is cross-functional It is a matrixed role Product Managers must influence those around them to achieve desired results What do people say?
- 4. How can you INFLUENCE others to help you achieve your goals?
- 6. Understand their needs and objectives
- 7. Know why they will block you
- 8. Know their influencers and allies
- 9. Know what is competing for their time
- 10. Convince them you can help them
- 11. Gain people’s trust Understand their needs and objectives Know why they will block you Know their influencers and allies Know what is competing for their time Convince them you can help them Sounds like a sales process to me
- 12. Nail it, then Scale it Axiom # 2
- 13. Provide value to one group or segment of customers, achieve your goals (revenue, profit, etc.) THEN expand, expand, expand
- 14. Two short case studies 1. Webvan 2. Craigslist
- 15. Webvan – How not to run a business
- 16. Webvan – started in SF Bay Area
- 17. Webvan – started in SF Bay Area First location was not profitable
- 18. Webvan – expanded to many cities
- 19. Webvan – expanded to many cities New locations were also unprofitable
- 20. Webvan – How not to run a business Founded in 1999 Within 18 months spent $1,000,000,000 ($1 Billion) on warehouses, trucks etc. Rapidly expanded into multiple US cities Raised almost $500,000,000 by going public and bought out one of its largest rivals, HomeGrocer. By 2001, declared bankruptcy, firing 2,000 employees in the process.
- 21. Craigslist – started small & simple (1999)
- 22. Evolved slowly (May 2000)
- 23. Scaled once patterns were clear (July 2000)
- 24. Continued Scaling (Dec 2000)
- 25. Today – 100’s of Cities – Same Interface
- 26. Craigslist today – Top 10 in US-Top 50 WW
- 27. Change is a process, not an event Axiom # 3
- 28. You are an agent…
- 29. …of change!
- 30. Change is never easy…
- 31. Nor does it happen overnight…
- 32. The Change Cycle – truly a process Point of initial awareness Peak of Elation and Relief Slope of Understanding Plateau of Acceptance Trough of Anxiety and Confusion See http://wp.me/pXBON-1D3 for more info
- 33. Think horizontally, act vertically Axiom # 4
- 34. A view of Product Management
- 35. Another view of Product Management
- 36. Product Management looks across silos…
- 37. But works with each individually to foster change
- 38. Every Activity is part of a Sale Nail it, then Scale it Change is a process, not an event Think horizontally, act vertically Product Management Axioms
- 39. Get your favourite Axiom on a Mug! http://www.zazzle.com/onpm44
- 40. Rules to Follow for Product Management Success Saeed Khan Twitter: @saeedwkhan, @onpm http://www.onproductmanagement.net Product Management Axioms