7 The Value Inequality – The Real Meaning Of “Customer Value”

Cost Plus Pricing = No Good

You must balance value versus (multiple) costs to determine price. (By Hans Splinter, Attribution-NoDerivs 2.0 Generic (CC BY-ND 2.0))

People sometimes ask me “how should I price my product?” so I Googled it. I found a LOT of blog posts about pricing. A surprising number recommend “cost plus” pricing. How much does it cost to make your product? How much do you have to sell it for to make money? They say “Sell it for more than that.”

It’s well known that “cost plus” pricing doesn’t work for enterprise software. In fact, it doesn’t work for most high value products of any type.

The alternative to “cost plus” pricing is “value-based” pricing. A few people recommend this. And then they don’t say much about what that means.

Let’s explore this idea a bit more, and see what we can learn.

The customer’s perspective

Of course, the customer cares zero, not one iota, NOTHING, about your problems with making money. OK, they might care a tiny little bit if they want you to be around to support them. But they don’t care very much. It is not their problem if you make money or not based on choosing the wrong pricing.

But customers do care about something. In so many words, the customer has a problem. The problem is costing the customer some amount of money or time or business friction. They are looking for a solution to that problem. Your product may provide a solution to that problem. That’s what the customer cares about – solving a problem.

The first rule of pricing is:

Your product must cost less than the problem costs the customer. No customer will pay more to solve a problem than the problem is costing them.

Corollary: If your product doesn’t solve a problem the customer needs to solve, it cannot be successful.

But the customer has other concerns, not just about the price of your product:

  • Your product represents a big risk to them. Does your solution solve their problem? It looks like it does, but until they put it into production, they won’t know for sure. That risk makes your product worth less, until they are confident it solves their problem.
  • Your product represents a big change management cost. Their current solution or lack of solution to the business problem is costly. Your product may completely solve that business problem. But the cost of moving from their legacy solution to your solution will be significant. In some cases the cost of putting a new solution in place can outweigh the benefits of the new solution, irrespective of its price.
  • Your product represents an opportunity cost. The business problem you solve is not their only business problem. By buying your solution they won’t be able to buy a solution to some other business problem.

The Value Inequality

If you put all these customer concerns together into kind of some math, you get the following inequality:

V > P + R + M + C

The customer will only buy your solution if:

The value (V) the customer gets from your solution is greater than the price (P) of the solution plus the risk factor (R) that the solution will or will not work plus the cost of migrating (M) to your solution plus the opportunity cost (C) of not using that money to solve some other problem.

I call this the “Value Inequality.”

To buy your solution, the value the customer gets (solving the business problem) must be greater than all these costs combined.

And to make your sales easier, strive to ensure the value the customer gets from your solution is MUCH greater than the price of the solution. (In math terms:

V >> P + R + M + C

As product managers we have some control over all the terms in that inequality. In the next installment I’ll give you concrete ways to get this inequality working in your favor.

Three Things You Can Do Today

In the meantime, here are three things you can do today to start using these ideas.

  1. Put yourself in your customer’s shoes. What are the risks, change management costs, and opportunity costs they perceive with your product? Be specific. You should be able to come up with ten or more items.
  2. Start from the risks you found in step one. Find three ideas for reducing the customer’s risk of implementing your product. For example, do you have successful customers already? Can you use the story of their success to reduce the fear of a new customer?
  3. Find three ideas for increasing the customer’s perception of your product’s value. Again, you might be able to use the experience of existing customers. Get a good story from an existing customer about the value they experienced when they implemented your product. Or maybe your product has features whose value is not described well in your sales and marketing.

I’d love to hear your feedback on this idea. Have you used a model like this for pricing?

4 What Will Product Management Be Like In 5 Years?

The future is hard to tease out, but here's what will happen in product management's future. (CC 2.0 by PunkToad)

The future is hard to tease out, but here’s what will happen in product management’s future. (CC 2.0 by PunkToad)

Earlier this year Janna Bastow of ProdPad put out a call for opinions on the future of product management. I quickly responded then. And realized later it would also make a good blog post.

To understand the future of product management I started from the “present” of product management. Where are we now in the product management discipline?

The “Present” of Product Management

Product management today has these characteristics:

Where (I hope) product management will be in five years

  1. Product management will be understood to be more about finding market problems and solving them than about “product” per se.
  2. Businesses will understand that the activities and effectiveness of product management are the primary leverage the business has on revenue and profits. Small improvements in PM effectiveness have outsize effects on the top and bottom lines.
  3. The business value of PM – i.e., revenue per PM – will be well known and (somewhat) managed to.
  4. Product managers take strong control of their part of go-to-market.
  5. We will have escaped from the fetters of the old inherited IT lexicon.

Three things you can do

  1. Make sure you’re spending enough time on the most valuable product management activity – finding and validating market problems.
  2. Understand where you and your company are in terms of finance-related product management ratios.
  3. Think about the literal and connotative meanings of the words you use – requirements, features, roadmaps, applications, agile. Make sure you understand not only what you mean by them, but what others hear when you say them. And if those aren’t aligned, change what you say.

Product Management And Fear – Three More Powerful Creative Blockbusters

Several years ago I had an article about three powerful tips for getting through a creative block. Although focused toward product managers, the tips were general purpose ways to increase your creative output.

  1. Morning pages
  2. Crappy first drafts
  3. “Use Your Obvious”

You can summarize the three tips pretty easily, despite their variety – “Just Write!”

At right around the same time I drafted this post with more tips that are especially applicable to product managers. But I just found out I never posted it! So here it is, a little late, but still pretty useful, I’d say. (Well, I still use these techniques anyway!)

Use multiple modalities

More than most other creative domains, product management is a multidisciplinary activity. All of our work has a technical aspect, a creative aspect, such as the UI, a marketing aspect, the sales aspect. And this gives you powerful tools to unblock your creativity. If you’re blocked with writing a requirement, you can design a UI, and so on. I call this approach to your creative problems “multimodal.”

If you get stuck on one mode, you can often get started on another mode and continue to make progress. And because all the modes are interdependent, making progress in one area often frees your mind up to make progress in other areas.

Suppose you are working on a new feature, but you’re not quite sure how to articulate the user story for the developers. Instead, you might attack it from a different perspective. You could start by describing how the user would experience the feature, how it would help his or her day-to-day life. Or you could start by writing down some technical constraints on the feature. What technology would be used, or how it would interact with other existing features to make sure no value is lost? Or, in a very traditional approach, you could start by writing the datasheet for the new feature. And of course you could start by sketching out a user interface.

(And remember to apply all the rules from the previous article, especially “crappy first drafts.” Your first drafts are often not going to be usable. But they’ll give you insights to use for your second and final drafts. )

Conceptualization tools

So far, I’ve described techniques that help you create the actual content of your requirement or marketing piece and all related components.

But, as my friend Scott Gilbert (with the awesome Twitter handle @AgileProducMgr) mentioned in a comment on LinkedIn, you can also use tools that help you conceptualize the problem. A novelist might use a story board, a timeline, and a cast of characters to conceptualize his or her novel. These all help develop the story, and prep for, but do not precisely achieve, getting words on paper.

We can use those techniques as well, in exact analogs to the novelist’s story board, timeline, and cast of characters. We can explore the timeline of the feature and how it fits into the process flow in the application. We can list the users of this new feature (or as they’re often called, the personas).

Mindmaps

 As I determine if my design supports different aspects of politeness, I move the aspect to the Yes branch, with an annotation saying how it's polite in that way.

As I determine if my design supports different aspects of politeness, I move the aspect to the Yes branch, with an annotation saying how it’s polite in that way.

Another tool that works very well for conceptualizing a new feature is a mind map. I use a free mind mapping tool called Freemind. Scott uses MindJet, a commercial product. We both got a lot of value from creating mind maps. They help us understand not only the problem we’re trying to solve, but also how the solution might come together. They are great for addressing the -ilities like usability and scalability.

I created a mind map template to help me with user experience and interaction design aspects of my features. My template outlines the key aspects of user experience as described by Alan Cooper in The Inmates Are Running the Asylum (including the 17 aspects of politeness). I use the mindmap to make sure I have good answers to every aspect as I’m designing the feature.

Next Up – PM-specific Tools, Not Just Techniques

In this article I focused on techniques that are well-suited to product management’s multiple modalities. A later post in the series will be about tools that are specifically designed for PMs and how they can help overcome creative blocks. (Unfortunately, as you’ll see, some of those tools so far only exist in conceptual form – that is, in my mind.)

3 Mental Models for Product Managers – Part 2

Brain Wiring

Brain Wiring (by Wellcome Images, CC licensed)

In part 1 I introduced mental models and some reasons they are important. And I provided a few “general purpose” examples. In this part we dive into what you really came here for – product management-specific mental models.

Why are product management-related mental models different?

The mental models I’m going to talk about share two key characteristics:

  • They are about about products
  • They are not used enough

We have some great mental models in product management. But we have not been doing a great job of using them to help us make better products. While I think a lot of us have intuitive ideas about “how to think about” product management, my observation is that these mental models are not as widely used as they should be.

I wouldn’t be surprised if you haven’t even heard of these mental models. And if you’ve heard of them, you may not know how to use them.

The value proposition

For example, one of the powerful mental models is “the value proposition.” I’m sure you’ve heard this term. It’s very easy to say, and rolls off the tongue. Yet in my experience many product managers don’t know that a value proposition has a specific structure. A properly constructed value proposition is extremely compelling to prospects. But a “value proposition” that doesn’t have the four specific components of this structure is significantly less powerful.

What are the four components?

  • Who the product is for (the market)
  • What the product is (the category)
  • What the product does (its key features)
  • Why my product is a better choice for you (the differentiators)

This is the classic framework from Geoffrey Moore’s Crossing the Chasm. I’ve written about value propositions at greater length in A Weak Value Proposition Is A Symptom, Not A Disease.

Mental Model Categories

The value proposition is a mental model in the form of a template. It gives you a structure for your thinking and research. I like using good templates. Of course they are used throughout our domain – a user story is a very simple template, a Jira issue is created using a template. And most product management tools are essentially a database of items created by filling in templates.

But there are other types of mental models. While categorization itself is a type of mental model – the idea that different topics or pieces of information fall into different buckets – it’s not a product management-specific concept. But let’s use the categorization mental model to help organize some more product management-specific ideas.

One possible grouping is:

  • Templates
  • Categorization tools
  • Heuristics and algorithms
  • Cognitive laws

I’ll give a few examples of each in this post, and follow up with deeper dives in future posts.

Templates

  • The Value Proposition as discussed above
  • The Three Laws of Marketing Physics: For the best chance of success, your product should have 1) an Overt Benefit, 2) a Dramatic Difference, 3) a Real Reason To Believe. For more, check out my article on Doug Hall’s Three Laws of Marketing Physics, or his excellent book Jumpstart Your Business Brain!
  • My V.A.L.U.A.B.L.E. rubric for product requirements. I have a podcast episode and a downloadable graphic about this approach to requirements.

Just because you have a template it doesn’t mean your job is done. Filling in the templates is often extremely difficult. For example, articulating a meaningful Dramatic Difference or “differentiator” portion of the value proposition is usually difficult. (This is especially true if your product is really “a solution looking for a problem.”)

Categorization tools

Categorization is not a product-specific concept, but there are some categorization tools that are specifically about product. Here are a few of my favorites:

  • Stack ranking. It rests on another critical mental model, which also underlies “agile” – this is the idea that focusing on the most important thing first is the best use of your time.

Stacking ranking is a “one-dimensional” structure. The next set of examples live in two dimensions:

Attention: The internal data of table “2x2” is corrupted!

Categorization tools are helpful for making decisions and prioritizing features or portfolios.

Heuristics and algorithms

Technically, heuristics and algorithms give you steps to follow in specific situations. But often the steps involve reconceptualizing the situations, which puts them squarely in the province of mental model.

For example, there are some great heuristics in Chip and Dan Heath’s book Decisive that can help us make better decisions. The book is a great and entertaining read. And Teresa Torres has written a number of great articles putting a product management spin on them.

I’m going to touch on two of their mental models about decision making:

  • It’s never an either/or decision – you can always find more options than Yes/No, Go/NoGo
  • The 10/10/10 rule – think about how you’re going to feel about this decision in 10 days, in ten months, and in ten years. This rule helps you get out of the rut of taking hasty action now that you might regret later. Getting caught up in the urgency of something that might not actually be important in the long run. I illustrated the use of this rule in my article 5 tips for when your release is running late? You can push to get it out on time, even if there might be quality problems. That’s going to make you and your execs happy for a few days or weeks, but it’s going to haunt you next year when your customers stop renewing because of “your history of low quality releases.” On the other hand, if you delay the release until the quality is better – that’s a big downer today and for a few weeks, but in six months no one will remember, and in six years your company will be twice as big because all your customers renewed, citing “very high quality releases every time.”

“Rules of thumb” are another set of good heuristics that represent useful mental models. in my Rules of Thumb series I wrote about a few I use.

Cognitive laws

These mental models are rooted in the way people really think and make decisions (as opposed to how they think they do).

  • Customers don’t know what they want – this is an agglomeration of the results of a lot of different cognitive biases our customers have. Steve Jobs had a great quote, “A lot of times people don’t know what they want until you show it to them.” This doesn’t mean you shouldn’t talk to your customers. But you need to talk to them about their problems, not about “what they want.”
  • Personal goals – this is another one that’s easy to say, and powerful, but hard to do in reality. It turns out that customers and users don’t care that much about the business benefits that our products provide. What they actually care about is achieving personal goals. I wrote about this idea in greater detail in The Best Way To Engage Your Audience Is To Help Them Kick Ass.

Summary

I’ve only begun to touch on mental models for product managers – most of these I’ve described with a few sentences.

I haven’t even talked about some of the valuable larger frameworks of mental models (although I do have blog posts about some – like Kathy Sierra’s “badass” approach).

And I haven’t mentioned anti-models – mental models that are actively dangerous for product managers (despite their ubiquity).

So, there will be more coming in future blog posts. But, in the meantime, I want to make sure you have some actionable, concrete advice for making use of these ideas.

Three things you can do today

You can start putting these mental models to use, and work on your own library of mental models, with these three actions:

  1. If you don’t have a value proposition articulated using the four part framework – category, customer, benefits, differentiators – then do it. You’ll learn a lot. This is hard, by the way. And you might find yourself struggling. That’s a good sign. If you’re struggling, imagine how your market is struggling to understand why they should buy your thing.
  2. If you can’t do the 10x thing for your product, get to work on that. It’s also a hard thing. Luckily, in most cases you can do the 10x against business as usual, and not against your competitors. Although if you can do it against your competitors, that’s amazingly powerful. “Not only will you have 1/10 the downtime, but you’ll implement 10x faster than with our competitors.”
  3. Study up on mental models. This really means studying up on ideas – ideas from different domains that focus on understanding how things work, and how things can be improved. A good list of mental models to start from is Mental Models I Find Repeatedly Useful by Gabriel Weinberg.

1 A Toolset For Getting Unstuck When Your Creativity Is Blocked

Penrose Triangle - A Very Creative Block

A Very Creative Block – Penrose Triangle by Wes Peck, CC 2.0 license

We product managers are inventing stuff most of the time. Whether it’s new features, or designs, or go to market materials, or just making decisions. And that means we are going to have creative blocks. A lot. That is, except for those times when we can steal stuff from others. Unfortunately, we can’t steal as much as I’d like!

A Toolset for Overcoming Creative Blocks

So, I’ve honed a set of “thinking tools” over the years to help me make progress in this invention process. Especially when I’m stuck (which happens all the time), I find I can often get unstuck using one or more of these techniques. This list includes:

  • Mindmaps – I have several product management-specific mindmap templates
  • My product management rules of thumb
  • The V.A.L.U.A.B.L.E. rubric for requirements
  • The Cynefin framework, especially the Complex quadrant
  • Asking good questions (open-ended, “5 Whys”)
  • Talking to other people, even people who don’t know anything about the topic and aren’t that interested – it turns out I “think by talking”
  • Creating a Powerpoint about the topic, and then presenting it (out loud, but only to myself)
  • Crappy first drafts and “Just get started” and “The simplest thing that could possibly work
  • Write the Amazon review first
  • Anthropology – getting back to the people whose problem I’m solving to make sure I really understand it. (Problems are much easier to solve when you understand them correctly!)
  • Sketching and mockups, even though I’m a terrible artist and designer. Simply putting something down on paper or in Balsamiq or Powerpoint often breaks down obstacles.
  • Appropriation – seeing how others have solved this problem, or finding out how similar problems are solved in a different domain. (“Good artists copy, great artists steal.”)

Especially if I’m stuck, I do some of these things and I find myself, against all odds, making progress.

Some of these I’ve discussed before (links provided above). But much of this post is only a tease. I plan to make follow on posts about my mindmaps. But let me know if you want me to drill down one of more of these ideas.

 

 

Mental Models for Product Managers – Part 1

The importance of mental models

Knitted Brain Hat

Model of the brain – in yarn (CC 2.0 by Linden Tea)

There’s been an explosion – at least in my feed – of folks talking about the importance of having a lot of good mental models to help you make better decisions.

A lot of this goes back to a talk by Charlie Munger at USC Business School in 1994. He’s the other old white guy who works with Warren Buffet at Berkshire Hathaway making lots of high-payoff investments. Munger said their “latticework of mental models” is one of their core competitive advantages.

What is a mental model?

“Any concept that helps explain, analyze, or navigate the world.”

I’d also add, specifically

  • That helps you make better decisions
  • That guides you on how to take better actions

Mental models are like tools in a toolbox. If you have only a few tools, you can only solve a few kinds of problems. Like the famous saying – If you only have a hammer, then you have to treat every problem as a nail. If you have a full toolbox you have a lot more flexibility and subtlety about how you can go after problems. And tools that aren’t quite up to the job is almost as bad as not having the right tools. You can’t fix a sink if you don’t have some plumbing tools.

Mental models can also help compensate for your own limitations. We all have limitations in the way we think which mental models can help address. They can be like a mental checklist, or like a jig or fixture. Things we know we should do but forget, or things we normally don’t think about but know we should.

Mental models comprise different types of things: heuristics, “cognitive laws,” templates, categorizations and categorization strategies. And there are hundreds if not thousands of mental models. Munger says “80 or 90 important models will carry about 90% of the freight in making you a worldly‑wise person.”

Mental Model Examples

Some general purpose mental models are very useful for product managers. This short list is taken from a fantastic list of mental models by Gabriel Weinberg:

  • Cognitive bias – and all the particular cognitive biases that arise in different situations.  “Tendencies to think in certain ways that can lead to systematic deviations from a standard of rationality or good judgments.” (See list of cognitive biases.)
  • Ask Why Five Times – Arguing from First Principles .  “A first principle is a basic, foundational, self-evident proposition or assumption that cannot be deduced from any other proposition or assumption.”
  • Scientific Method .  “Systematic observation, measurement, and experiment, and the formulation, testing, and modification of hypotheses.”
  • Order of Magnitude.  “An order-of-magnitude estimate of a variable whose precise value is unknown is an estimate rounded to the nearest power of ten.”

You’re probably familiar with these and many more like them already.

Mental models for product managers

What about mental models for Product Managers specifically? There are quite a few mental models about products and making them successful. Too many to cover in this post, which is already getting long, so stay tuned for the next post.

What mental models do you use and depend on for getting your job done?

Selection Criteria for Product Management Tools

Like many product managers, I’m always looking at the various product management tools available, to see which ones would help me do my job.

Tools For What We Do

If you’re like me, you deal with all kinds of different information, on a day-to-day basis, as a product manager:

  • Customers – finding their problems and listening to their product feedback
  • Markets – your segments, their problems, and how to reach them with your solution (and if they are big enough for you to make money)
  • Positioning and value propositions – what your product does for your segment, and why it’s a better solution than the competition
  • Strategy – how the goals of your company drive the solutions you deliver, and how your solution aligns with those goals
  • Revenue and profit – how your solution will generate top and bottom line dollars
  • Roadmapping – how your solution will be shaped over time
  • Competitors – your competitors, their strengths and weaknesses, and what you need to do to take advantage, or overcome gaps
  • Prioritization – out of all the features and solutions you could deliver, which ones you should deliver
  • Go to market – how your prospects hear about your solution, its value to them, and why they should buy your solution instead of your competitor, or instead of doing nothing

And oh, yeah:

  • Building a solution – addressing the customer’s problem effectively with technology, with enough differentiation that it’s possible to sell successfully

It seems the last point – tools for building the solution and managing that process – are a dime a dozen.

But tools that help me with all those other things I listed – customers, segments, go to market, etc.? Practically nonexistent. Mostly I have to use Word, or Confluence, or spreadsheets, or just my big brain, to manage all that.

My Selection Criteria

So, here’s what product management tools would do to show they cared about the realities that we face as product managers. They would understand:

  • We have customers
  • Revenue is interesting
  • We do a lot of market research
  • There is competition
  • We have to take our solutions to market
  • And all the other points in my first list above

And the product management tools would then help us prioritize our solution based on those.

What You Can Do

  1. Irrespective of your tools, you need to keep all those things I listed in mind as a product manager.
  2. If your tooling doesn’t understand our domain specifically, you will need to augment whatever you are using to capture and manage that information. You can use templates, best practices, or just the power of your mind.
  3. If you’re evaluating or testing product management tools, make sure to ask the vendor about the topics I list above. How does the tool support your customer interactions? Your prioritization? Your value proposition?

What product management tools are you using?

How do you track your data about customers, revenue, competition, and go to market? Let me know in the comments.

2016 – More Hardcore Product Management Ahead

Calendar, by Joy (CC 2.0 license)

Calendar, by Joy (CC 2.0 license)

The turning of the calendar itself has no real meaning, but it does give us a chance to reflect on what’s gone before, and what’s ahead. In my last post I reviewed the topics we covered in 2015. This post is about where I’ll be focusing in 2016 in terms of becoming a more skilled product manager, and in helping others achieve that. I already “practice what I preach” on all those topics, of course. But there’s always room for improvement, and as I’ve mentioned lots of times, getting more effective at product management has a huge ROI.

Systems

But instead of focusing on that goal this year, I’m going to focus on a system for being a better product manager. This approach is inspired by several writers and speakers I heard this year, including James Clear and Dilbert cartoonist Scott Adams (on his blog and on on Tim Ferriss’s great podcast).

The idea is the system is what gets you to the goal. You still have the goal (maybe), but you pay attention to the system. These other guys explain it better than I do – for example, James Clear illustrates the difference between goals and systems like this:

  • If you’re a coach, your goal is to win a championship. Your system is what your team does at practice each day.
  • If you’re a writer, your goal is to write a book. Your system is the writing schedule that you follow each week.

In 2016 I’ll be working on my system for being a more effective product manager. As my new and updated system components unfold, I’ll report back.

Deliberate practice

The other big focus for me this year is “deliberate practice.” Deliberate practice is a key part of Kathy Sierra’s “badass” concept, although I didn’t go into great detail on in my badass-related posts.

If you want to become better at something, you have to practice – it’s true of skiing, it’s true of photography, it’s true of playing a musical instrument. And it’s true of professional careers as well – surgeons practice a lot, and so do lawyers. And practice is not just “doing the job.” As Kathy Sierra says in her book Badass:

Only a specific type of practice makes perfect, and in the science of expertise, it’s known as “Deliberate Practice.”

James Clear says, building on Kathy Sierra’s description:

Deliberate practice is when you work on a skill that requires 1 to 3 practice sessions to master. If it takes longer than that, then you are working on something that is too complex.

There are examples in the literature of doctors performing deliberate practice, and of course top musicians do a ton of it. But I haven’t heard of a pedagogy for product management that uses deliberate practice. It seems worthwhile to focus on this for a while, both for myself and for the product management community as a whole.

Some examples that have come to mind so far:

  • Making phone calls to stakeholders – this is actually something I’m not as skilled at as I’d like to be. Once I’m on the phone I’m fine, but it’s more of an effort for me to pick up the phone than it should be. So I think deliberate practice will help me with this.
  • Entering defects – this is something we all have to do as product managers, and I’ve actually done quite a bit of practice on this one.
  • Various situations where deliberate practice will take the form of role playing: breaking bad news to a customer, telling a sales person that the product can’t do what they just promised a prospect, breaking the news of a schedule slip. Those are all bad situations, but it will probably pay off to do some practice on how to make the best of good results as well – writing an effective company email to share an exciting customer success, for example.

I will develop a set of these small product management activities to practice, and then determine the forms that the practice will take. And then do the practice myself over the course of the year. It should be very interesting. And I suspect my skills will be much more developed at the end of the year.

 

1

2015 Year In Review – Hardcore Product Management

sparklerLooking back over 2015 on this blog, I see quite a lot of meaty content! The topics have been hardcore product management-related. I hope you’ve enjoyed reading it as much as I’ve enjoyed sharing it.

Summarizing (with links to the key posts), we went deep on:

I even put a product management maturity quiz out there, just for fun.

I have lots more thoughts to share in 2016. Tomorrow I’ll share some ideas on how I’m going to run things in 2016 so that more of my thoughts make it out into the blog and into the world. (The key word is “systems.”)

1 Interview With Hubert Palan, CEO of ProductBoard, Part 2 – Podcast Season 2, Episode 2

This second part of our interview with Hubert Palan is the third episode of our new podcast season of All The Responsibility, None Of The Authority, crossposted from alltheresponsibility.com. I will be crossposting the new episodes from the new site to this feed as they are published (I’m a little behind now but will catch up!).

This is part two of our interview with Hubert Palan, found and CEO of ProductBoard, and long time product management leader and executive.

Part 1 of the interview is here.

Three things you can start doing today

As always, we like to give you actionable takeaways from our podcast episodes. The three ideas below come directly from our interview with Hubert.

  1. Create a central repository, not just about the features you’re building, but about the market inputs you gather to help you find and validate the business problems you are solving. You can use a tool like Hubert’s ProductBoard, or you can try to roll your own (Nils had a podcast about this last year). This information comes from Support, Design, Product, Sales, Marketing, and your own conversations with customers and prospects. A central store of this input, and the relationships between this information and the product decisions it supports, helps mitigate some of the cognitive biases Hubert mentioned. And by gathering all this information together, you are better able to detect market signals in all the noise, and make better holistic decisions about the product.
  2. As Hubert pointed out many times in the interview, Context is King. Make sure your team, and your whole organization, knows not just what features you’re delivering, but what problems those features solve, and for whom. This not only simplifies many of the issues of prioritization, it also serves as a basis for communicating across segments of your organization.
  3. Clarity and communication are the heart of the Product Leader’s role. The better we get at clearly communicating about prioritization, context, and decisions made in the product team across the organization, the better the organization can execute on creating and selling solutions to customers.

Thanks to Hubert!

Rob and I want to reiterate our thanks to Hubert for participating in our new podcast as our first interview! If you want to learn more about ProductBoard, you can visit productboard.com. You can follow Hubert on Twitter at @hpalan, and ProductBoard tweets at @productboard.

As always, we’d love to ask two small favors from you:

  • First, please subscribe to the podcast on iTunes, or wherever you get your podcasts. You can access the podcast directly on this feed.
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Finally, we really appreciate getting your opinion, so we’d love to hear from you in the comments, or via Twitter (@atrnota) and our Medium publication, All The Responsibility.

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