A guide to product management chalking out the best practices: identifying MVP, understanding the business value, setting up and measuring time-bound metrics, and developing a clear product roadmap.
- Identifying Minimum Valuable (not just viable) Product
- Business value matrix
- Time bound product metrics
- Product roadmap funnel
Product managers need a clear process to identify business value, especially when there are few or no users, unclear market conditions, and fuzzy business goals. This book promises a systematic approach to solving this problem.
When starting on a new product, it can be quite hard to determine which product idea to pursue. For a product that has an existing customer base, this is easier since there is data to measure. But, how do we do this for a new product? Should we pursue when there is no objective metric to compare an idea's worth? How do we ensure that product development isn't an isolated function? How can we factor engagement from all aspects of the business? The book introduces the concept of a business value matrix. This can help product managers get all ideas on-board irrespective of merit. It can then filter valuable ideas by defining success metrics. It can help elicit the stakeholder's investment in the execution of an idea. The business value matrix can then help us determine the most valuable product to build.
Many product teams may be familiar with the concept of an MVP. An MVP validates the technical and business feasibility of a product. But, how do we measure value even before we build a product? This book puts forward a framework to define the value of product features and to identify the most valuable product to build. This book can help product managers and entrepreneurs to think through new product ideas. It is a handy guide for product managers, and anyone who is embarking on a new product development to align their product strategy by: identifying the most valuable product idea to pursue, minimizing their effort by building the most valuable product, iterating through product features by defining time bound success metrics, and eliminating wasteful software processes and measure progress using business value delivered.
What you will learn
- How do we pursue ideas that matter?
- How can we define the right success metrics?
- How can we plan for product success?
- How can we measure user delight or business value?
- How do we relate profits or user delight to a specific product feature?
- How do we know whether our product aligns to desired business goals?
- How can product managers evolve to meet the needs of the fast paced, innovative businesses?
Who This Book Is For
If you are in charge of building a new product, then this book is for you. The book is targeted at Product Managers, Functional leads in startups/ enterprises, Business Sponsors venturing into new product offerings in Enterprises, Product Development teams, and Startup founders