Product Management

Why Should Your Business Adopt a Product Mindset?

 

Tirrell Payton explains the difference between a project mindset and a product mindset and which one may be the better strategy during market shifts and disruptions.

Digital” continues to grow in importance as a first class business discipline, just as important as marketing, finance, or strategy. Therefore, product management has become more important as the primary lever to bring digital products and services to life. Given that, more organizations have begun to shift their thinking from a ‘project’ mindset to a ‘product’ mindset.

While the difference may seem semantic in nature, the implications can be substantial. A project mindset precludes a beginning, middle, and end of a project with a defined scope. A product mindset precludes orientation around the customer, and continuously evolving the offering to stay aligned with customer wants, needs, and opportunities to delight. The organizations that can best align themselves with customers are the organizations that win in the digital economy. 

According to Gartner, “Digital product management is a blend of art and science, an emerging discipline that expands the scope of the product manager’s role. Organizations that embrace and invest in this discipline are better-equipped to capitalize on market shifts and changes in business dynamics, including disruptions.

 

Key points include:

  • Think in problems, not solutions
  • Think in experiments, not analysis
  • Deliver value, not features

 

Read the full article, Seven Tips to Accelerate Product Mindset Shifts, on LinkedIn.

 

Launching a Subscription App?  Read these Tips

 

Robbie Kellman Baxter shares valuable advice for product managers who are ramping up operations to prepare for new subscribers to their subscription-based business.

So you’ve launched your subscription app, and you have some subscribers. You’ve only scratched the surface. Now the real work begins. The key to subscription models is that the benefits keep improving to support the subscriber’s ongoing goal. And at the same time as you’re optimizing for your existing subscribers, you have to continue to stay relevant for tomorrow’s members.

Subscription models are complicated.

If you’re responsible for the product roadmap, how do you prioritize where to invest first, and what can wait til later? Here are 10 tips that might help you focus.

Design for the whole party. Think of your product as a party. Then identify your greatest opportunity for improvement. There might be some people who don’t know the party is happening, or don’t realize that their favorite band is going to be there. That’s an awareness issue–can you build in a way to attract people who might not otherwise know about your product? There might be some people who pass by the party but don’t feel an urge to go inside and check it out–that might mean you lack a headline benefit that will attract them. But just because someone signs up, or enters the party, that doesn’t mean your work as a product manager is done. You need to make them feel welcome, and help them figure out where the fun activities are–the bar, the buffet, the band. This challenge is about surfacing features, and onboarding a new subscriber to create habits. Without good onboarding, you will have a leaky bucket. Even if you engage people and they find their way to the best parts of the party, they might grow tired of what’s familiar. If that’s your issue, you may want to expand the features for the most engaged subscribers, or even just create features to remind subscribers to re-engage. With subscriptions, it’s not enough to just attract new subscribers, it’s critical to engage them.

 

Tips in this article include:

  • Optimizing for customer journey (not subscription journey)
  • Understanding where the blockage is
  • Investing in onboarding

 

Read the full article, 10 Tips For Product Managers to Optimize Your Subscription App, on LinkedIn.

 

Welcoming new member Johannes Hoech

Umbrex is pleased to welcome Johannes Hoech with MarqetU. Johannes is a C-level Silicon Valley executive experienced in “Growth Architecting”, i.e. all aspects of state-of-the-art pipeline generation and revenue management. Expert analyst and motivational leader with strong skills in general management, strategy, product management, and customer success, as well. 25+ years of experience leading technology startups through early stage, high growth, and turnaround phases.

Having managed organizations ranging in size from a 3-person start-up to a 400-person business, Johannes drives revenue and scales fast growing organizations of all sizes. With his German half he executes efficiently with a highly analytical approach, and with his California half he innovates pragmatic solutions.

Shifting from a Project to Product Mindset – Why and How

 

Tirrell Payton explains why it is beneficial to shift from a project to a product mindset and provides seven tips that can help accelerate the process. 

‘Digital’ continues to grow in importance as a first class business discipline, just as important as marketing, finance, or strategy. Therefore, product management has become more important as the primary lever to bring digital products and services to life. Given that, more organizations have begun to shift their thinking from a ‘project’ mindset to a ‘product’ mindset.

While the difference may seem semantic in nature, the implications can be substantial. A project mindset precludes a beginning, middle, and end of a project with a defined scope. A product mindset precludes orientation around the customer, and continuously evolving the offering to stay aligned with customer wants, needs, and opportunities to delight. The organizations that can best align themselves with customers are the organizations that win in the digital economy. 

According to Gartner, ‘Digital product management is a blend of art and science, an emerging discipline that expands the scope of the product manager’s role. Organizations that embrace and invest in this discipline are better-equipped to capitalize on market shifts and changes in business dynamics, including disruptions.’

 

Tips in this article include:

  • Think in problems, not solutions
  • Think in experiments, not analysis
  • Deliver value, not features

 

Read the full article, Seven Tips to Accelerate Product Mindset Shifts, on LinkedIn.