You start with a point of view about what makes a minimum viable product. When your product launches, it is your customer’s point of view that matters. You must understand which problems your customers care about solving, and what solutions are available to your customers today. You need to understand your competition to make informed decisions about your product. This is the latest in a series on comparing products – jump back to the beginning of the series to catch up, we’ll wait.
Continue reading Know Your Competition – Comparing Products Part 6
A good product is one that solves valuable market problems. To be successful in the market, a product needs to solve the problems that the right customers are willing to pay to solve. To know if those customers are willing to pay, you need to understand how they perceive your product relative to alternative solutions. If you’re new to the series, head back to the intro article on comparing products, and catch up with this article, where we look at pulling together the information about which customers are important.
Continue reading Important Customers – Comparing Products Part 5
The first step to comparing products is understanding your customers. This may seem counter-intuitive, but your product’s capabilities are meaningless unless you are comparing them from your customer’s point of view. This article is part 2 in a series on comparing products. Check out part 1, then continue with this article on the first steps of comparing products.
Continue reading Who Are Your Customers – Comparing Products Part 2
Recently, the gadget-reviewer crowd has caught on to something we’ve known for a long time. Comparing products is not about comparing specs, it is about comparing how well the products solve problems that customers will pay to solve. That begs the question – how should you compare products? Read on to see the product comparison technique I recommend.
Continue reading Compare Products Not Specs – Comparing Products Part 1
Requirements Management – I’m embarking on a journey to help several teams manage their requirements with their existing systems and tools. This is the first in a series of articles, where the rubber meets the road. I’ll look at both the theory and the realities of what works (and doesn’t) in practice. I hope you’ll come along for the ride.
Continue reading Requirements Management Journey – Part 0
Intellectual Property. The legal jargon definition of this term has come to effectively mean “something I’ve patented, copyrighted, or hold as a trade secret.” A more general interpretation is “an idea.” For product managers, the most valuable ideas are insights.
Continue reading The Value of Insights
Thanks everyone for the great conversation in the most recent #prodmgmttalk chat session! This week, Roger Cauvin inspired us to think about product managers as innovators – or enablers of innovation. Each week, I find myself thinking about at least one of the #prodmgmttalk questions long after the hour is over. This week’s thought – organizations prevent product managers from innovating.
Continue reading Product Managers & Innovation
Nokia, the Finnish mobile phone manufacturer, is getting clobbered as their market rapidly moves away from them. Recent analyst reports show that Android and iOS (Apple’s platform) based phones are rapidly gaining market share. Nokia sells neither. Nokia has a major press event in a few hours, where they will announce their smartphone strategy. I think a maximin strategy is both likely and correct.
Continue reading Nokia’s Smartphone Strategy – Maximin