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Target Mindset and Skillsets of an Innovation Led Organization
- 1. NEW AGE PRODUCT MINDSET AND SKILLSETS www.productleadership.com IN A PRODUCT ORGANIZATION EVERYONE CAN/SHOULD BE A PROUCT LEADER
- 2. Most Recently Global VP Product Management McAfee, US CTO Office, NetIQ Director of Engineering 15 years in Product Industry Angel Investor Pinkesh Shah Faculty, Institute of Product Leadership
- 3. ABOUT THE INSTITUTE BUSINESS SCHOOL FOR PRODUCT INNOVATORS PES University Bangalore, India SF State University San Francisco, USA CMR University Bangalore, India Rutgers Center of Innovation New Jersey, USA GLOBAL CAMPUSESGLOBAL CLIENTS KNOWLEDGE PARTNER FOR ORGANIZATIONS IN THEIR TALENT TRANSFORMATION INITIATIVES IPL PROPERTY – STRICTLY CONFIDENTIAL
- 4. Agenda Industry Drivers for the Big Shift Shift in Mindsets & Skillsets Tips to stay relevant Q&A
- 5. OWNERSHIP TALENT Technology Technology, Project Management but No PM LEVEL 1 >20 PLScore Value OPTIMIZING #1 MNCs in India are forced to Innovate Features Product Owner, Tech PM LEVEL 2 >50 PLScore Value CO-CREATING Products Product Leaders, Career Path LEVEL 3 >90 PLSCORE Value PRODUCTIZING SOURCE: PRODUCT LEADERSHIP MATURITY MODEL
- 6. #2 Moving from “USP” to “UVP” SUBSCRIPTIONS – Vendor Locking to Vendor Engaging MARKET AGILE – Customers Expect Continuous Innovation MARKETPLACE – Mall Buying Behavior SOCIAL/DIGITAL – Pull vs Push Information
- 7. Changing Principles for Product Design Buy vs Easy to Sell Love to BuyEasy to Sell
- 8. #3 Customer Experience is the new “Differentiator” Consumerization of IT User Experience is becoming more important than featurism (even for B2B) “Delight over Amazement” Acceptable bar on Design and Usability is now higher
- 9. #4 Platforms over Products Everything as a “Service” Automated to Automatic Business Models are changing (ex. Freemium) Acceptable bar on Design and Usability is now higher
- 11. Paying for Products to Freemium Pay per Use Largest Hospitality Company that doesn’t own a single room
- 12. Paying for Products to Largest Hospitality Company that doesn’t own a single room
- 13. Paying for Products to Freemium Pay per Use Monetizing Products to Monetizing Platforms
- 14. Anyone who leverages customer context, business context & innovation context to make better functional decisions is a PROUCT LEADER Defining: PROUCT LEADER
- 15. #1 MINDSET TRANSITION IS KEY CLIENT DELIGHT MARKET DELIGHT
- 16. JUMP? Project Management: How High? Product Management: Why?
- 17. #2 SKILLSET TRANSITION IS KEY DELIVERING PROJECT (PROJECT MANAGEMENT) DELIVERING DELIGHT (PRODUCT MANAGEMENT)
- 18. 19 PRODUCT LEADERSHIP COMPETENCIES TECHNICAL PRODUCT MANAGEMENT (Product Owner) INBOUND PRODUCT MANAGEMENT (Product Management) OUTBOUND PRODUCT MANAGEMENT (Product Marketing) CUSTOMER CENTRIC ENGINEERING (Product Leader)
- 19. #3 DEVELOP DEEPER CONTEXT Customer Buyer vs User Market Problems Value Competiti ve Alternatives? Do more vs Do Differently Innovate Business How are we making money? Monetizing the Value Delight
- 20. ENGINEERING DELIGHT Its not a bug, it’s a feature Is anything wrong?Clearly Unusable
- 21. Can we build something that people want and be profitable? DESIRABILITYFEASIBILITY VIABILITY ROLE OF A PRODUCT LEADER
- 22. DESIGN THINKING helps with WHY? DESIRABILITY Is there a problem worth solving? Does anyone want our solution? FEASIBILITY Can we actually build it? Technology? People? VIABILITY Can we be profitable? Is there a market?
- 23. SKILLS REQUIRED FOR APPLYING DESIGN THINKING DESIRABILITY CUSTOMER INSIGHTING Need Finding Market Analysis Customer Validation Lean Thinking Prototyping & MVP FEASIBILITY PRODUCT PLANNING Personas Architecture UX & Design Requirements, Stories Prioritization Product Roadmaps VIABILITY MARKET EXECUTION Target Market Segmentation Product/Market Growth Go to Market Sales Enablement Customer Acquisition & Retention Product Profitability
- 25. MANAGING PROJECTS TO EXPERIENCES Deliver for Delight, Customer Centricity MINDSET TO SEE BIG PICTURE Develop “end to end” understanding RESKILLING FOR FUTURE Staying Relevant Not Everyone will become a PM but everyone should become Product Leader! BUILDING YOUR PRODUCT LEADERSHIP STAMINA
- 26. www.productleadership.com Innovation Led Organizations rely on strong product skillets and mindset Pinkesh Shah pshah@ipl.edu.in