product management 101 deck_sherlock (1)

Jess Sherlock Product Manager, GoSpotCheck

PRODUCT MANAGEMENT 101


ABOUT YOU‣ Your name ‣ Your current job/industry ‣ One question you hope this class will answer


LEARNING OBJECTIVES‣ Describe the Product Management job landscape and learning

opportunities for product management skills. ‣ Describe the role of product management and the main

responsibilities of a Product Manager. ‣ Craft problem statements & hypotheses for a product or feature idea. ‣ Identify key risks and assumptions. ‣ Design a basic MVP to validate key assumptions.

PRODUCT MANAGEMENT

PRODUCT MANAGEMENT

PRODUCT MANAGEMENT

WHAT IS A PRODUCT?

PRODUCT MANAGEMENT

A PRODUCT IS A SOLUTION TO A PROBLEM SHARED BY MANY PEOPLE/COMPANIES.

PRODUCT MANAGEMENT

WHAT IS PRODUCT MANAGEMENT?

PRODUCT MANAGEMENT

PRODUCT MANAGEMENT

WHAT IS A PRODUCT MANAGER?

PRODUCT MANAGEMENT

PRODUCT MANAGEMENT

A PRODUCT MANAGER IS A PRODUCT MANAGER IS NOTA project manager A designer A developer A gopher Customer support Scapegoat The boss

The mini CEO Big picture thinker Technical Expert on market Voice of customers

PRODUCT MANAGEMENT

WHAT DO YOU DO ALL DAY?08:00am Coffee & email, put out any fires 08:30am Dev team IPM to review iteration progress and plan next iteration 10:00am Review open/delivered stories, acceptance testing new features in staging 11:00pm Meeting with key customer on data ingestion project 12:00pm Eat lunch, try to go for a walk! 1:00pm Writing user stories for external API enhancements 2:00pm Meeting with Customer Support and PO’s on bug prioritization 3:00pm Release planning and circulate release notes, catch up with designer 4:00pm Weekly Sales & Marketing stand up to share release notes/roadmap stuff 5:00pm Remove blockers, confirm clear backlog for morning

PRODUCT MANAGEMENT

YOU DO NOT NEED TO BE TECHNICAL TO BE A PRODUCT MANAGER

(but it doesn’t hurt…)

PROBLEM STATEMENTS

PROBLEM STATEMENTS

PROBLEM STATEMENTS

PRODUCTS EXIST TO SOLVE PROBLEMS

PROBLEM STATEMENTS

Solves the problem of easily storing and sharing files in the cloud.

Solves the problem of legally streaming music.

Solves the problem of accepting electronic payments anywhere.

PROBLEM STATEMENTS

WHAT PROBLEMS DID

UBER SOLVE FOR CUSTOMERS?

EXERCISE

ACTIVITY: 99 PROBLEMS

1. As a group, brainstorm all of the different problems customers face when trying to ride in a taxi. Aim for 20-30 different problems.

2. For each problem, give it a “Pain” score of 1-10 based on how difficult you think this problem is for users when they experience it.

3. For each problem, give it a “Prevalence” score from 0-100% based on how frequently you believe this problem is experienced.

4. Multiply the “Pain” and “Prevalence” scores and rank from highest to lowest.

A prioritized list of problem statements.

DELIVERABLE

DIRECTIONS (20 MINUTES)

HYPOTHESES, RISKS, AND ASSUMPTIONS



Hypothesis: “A supposition or proposed explanation made on the basis of limited evidence as a starting point for further investigation.”


“If we create an intuitive interface at a for storing/sharing files, then users will move their storage online.”

“If we give consumers a legal option to stream at a low price, then they will sign up for a monthly subscription.”

“If we allow any merchant to easily accept payments, then we will be able to acquire more merchants at a low cost.”


Assumption Supposed information about our users or market that support our hypothesis. Risk Key factors that may prevent our product from being successful.


Problem: Many taxi’s do not accept electronic payments.



Assumption: If a user isn’t carrying cash, they are unlikely to take a taxi.




Hypothesis: If we remove cash from the experience and only use electronic payments, consumers will drive and take public transit less often.




Hypothesis: If we remove cash from the experience and only use electronic payments, consumers will drive and take public transit less often.

Risk: Drivers may be unwilling to not accept cash.


WHAT ARE OUR RISKIEST ASSUMPTIONS?


Low Risk

High Risk

UnderstoodUnknown


WHAT DO YOU THINK THE RISKIEST HYPOTHESIS IS?

CUSTOMER INTERVIEWS

CUSTOMER INTERVIEWS

CUSTOMER INTERVIEWS

INTERVIEW GOALS‣ Do they have the problem? ‣ How big of a problem is it? ‣ What are they doing to solve it?

CUSTOMER INTERVIEWS

INTERVIEW RULES‣ Don’t tell them your idea until the end - you’ll bias the results ‣ Try to get off topic - get them to tell stories ‣ Record the interview (with permission!) - you’ll forget stuff

CUSTOMER INTERVIEWS

WARM UP QUESTIONS‣ Build rapport ‣ Ask about general problems - do they bring up your problem on their

own? Remember, tier 1 problems! ‣ Ask if they’ve had the problem and how they solved it in the past

CUSTOMER INTERVIEWS

PITCH YOUR IDEA‣ Yep, now, say “So let’s say there was a way to ________.” ‣ Record initial reactions and objections before giving more detail ‣ Ask what they would expect it to do ‣ Ask about how much they would pay - consider asking about a specific

price point you have in mind OR what it would be worth ‣ If you get stuck - “That’s interesting. Tell me more.”

CUSTOMER INTERVIEWS

ANALYZING INTERVIEWS‣ Write down problems, objections and reactions on stickies ‣ Group types of problems and objections ‣ Group reactions by severity (very positive to very negative) ‣ What problems and objections emerged? Is your problem there? Can

you overcome the objections? ‣ What’s the main reaction? Is it positive/negative? ‣ Abandon, pivot or persevere?

MVP

MINIMUM VIABLE PRODUCT (MVP)

MINIMUM VIABLE PRODUCT

“SMALLEST POSSIBLE PRODUCT THAT HAS THREE CRITICAL CHARACTERISTICS: PEOPLE CHOOSE TO USE

IT OR BUY IT; PEOPLE CAN FIGURE OUT HOW TO USE IT; AND WE CAN DELIVER IT WHEN WE NEED IT WITH THE RESOURCES AVAILABLE – ALSO KNOWN AS VALUABLE,

USABLE AND FEASIBLE.” - MARTY CAGAN


Riskiest Assumption: Businesses will sign-up and accept payments.

MVP Features: Basic signup page, credit card dongle (hardware), basic mobile application to accept payment.

Excluded Features: Analytics, Email Receipts, Inventory Management, Debit Acceptance.


WHAT IS THE ULTIMATE GOAL

OF CREATING AN MVP?

EXERCISE

ACTIVITY: NOW OR LATER

1. Suppose you are building the MVP for your taxi app.

2. You’ve identified two main problems to solve.

3. Review the list of features and classify each one as “Now”, meaning they will be part of the MVP, or “Later”.

Understanding of MVP prioritization

DELIVERABLE

DIRECTIONS (15 MINS)

EXERCISE

ACTIVITY: NOW OR LATER

Possible Features: ‣ User can request ride to their address ‣ Time estimate until the ride arrives ‣ GPS for Drivers ‣ Geolocation for the user ‣ Pay automatically w/saved credit card ‣ Select car type (Taxi vs Black Car) ‣ Split your fare with friends ‣ Email receipt to user ‣ Rate driver ‣ Rate passenger ‣ Carpooling options ‣ Send ETA to a contact ‣ Send referral codes to a friend ‣ Track mileage for drivers ‣ Pay with bitcoin ‣ Lost and Found Requests ‣ Text your driver

MVP 12 9 5 9 10 1 0 5 1 0 0 0 0 2 0 0 7

LATER


STORYBOARDS

STORYBOARDING

LAYOUT (WHAT IT LOOKS LIKE WHEN I...)

FLOW (WHAT COMES NEXT WHEN I...)

BEHAVIOR (WHAT HAPPENS WHEN...)

WHAT CAN YOU COMMUNICATE?

STORYBOARDING

‣ Focus on the “happy path” ‣ Have a clear goal for the user ‣ Do not worry about colors, branding, and specific copy or images. ‣ Start simple and lo-fidelity, add more detail as required.

STORYBOARD TIPS:

Q&APRODUCT MANAGEMENT 101

PRODUCT MANAGEMENT COURSE INFO SESSIONJANUARY 17TH 6:00-7:00PM WeWork LoHi (where you are now!) For help email: [email protected]

PDM

WHERE CAN I LEARN MORE?

APPENDIX - EXAMPLE SLIDE ON HOW I PRIORITIZE

product management 101 deck_sherlock (1)

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