PCT 2010 - 5 min- Product Management Axioms

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Saeed Khan explains 4 fundamental rules that all Product Managers should follow to improve their odds of success in their role.

Saeed Khan explains 4 fundamental rules that all Product Managers should follow to improve their odds of success in their role.

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  • 1. Product Management Axioms
    Rules to Follow for Product Management Success
    Saeed Khan
    Twitter: @saeedwkhan, @onpm
    http://www.onproductmanagement.net
  • 2. Every Activity is part of a Sale
    Axiom # 1
  • 3. Product Management is cross-functional
    It is a matrixed role
    Product Managers must influence those around them to achieve desired results
    What do people say?
  • 4. How can you INFLUENCE others to help you achieve your goals?
  • 5. Gain people’s trust
  • 6. Understand their needs and objectives
  • 7. Know why they will block you
  • 8. Know their influencers and allies
  • 9. Know what is competing for their time
  • 10. Convince them you can help them
  • 11. Gain people’s trust
    Understand their needs and objectives
    Know why they will block you
    Know their influencers and allies
    Know what is competing for their time
    Convince them you can help them
    Sounds like a sales process to me
  • 12. Nail it, then Scale it
    Axiom # 2
  • 13. Provide value to one group or segment of customers, achieve your goals (revenue, profit, etc.) THEN expand, expand, expand
  • 14. Two short case studies
    1. Webvan
    2. Craigslist
  • 15. Webvan – How not to run a business
  • 16. Webvan – started in SF Bay Area
  • 17. Webvan – started in SF Bay Area
    First location was not profitable
  • 18. Webvan – expanded to many cities
  • 19. Webvan – expanded to many cities
    New locations were also unprofitable
  • 20. Webvan – How not to run a business
    Founded in 1999
    Within 18 months spent $1,000,000,000 ($1 Billion) on warehouses, trucks etc.
    Rapidly expanded into multiple US cities
    Raised almost $500,000,000 by going public and bought out one of its largest rivals, HomeGrocer.
    By 2001, declared bankruptcy, firing 2,000 employees in the process.
  • 21. Craigslist – started small & simple (1999)
  • 22. Evolved slowly (May 2000)
  • 23. Scaled once patterns were clear (July 2000)
  • 24. Continued Scaling (Dec 2000)
  • 25. Today – 100’s of Cities – Same Interface
  • 26. Craigslist today – Top 10 in US-Top 50 WW
  • 27. Change is a process, not an event
    Axiom # 3
  • 28. You are an agent…
  • 29. …of change!
  • 30. Change is never easy…
  • 31. Nor does it happen overnight…
  • 32. The Change Cycle – truly a process
    Point of initial awareness
    Peak of Elation and Relief
    Slope of Understanding
    Plateau of Acceptance
    Trough of Anxiety and Confusion
    See http://wp.me/pXBON-1D3 for more info
  • 33. Think horizontally, act vertically
    Axiom # 4
  • 34. A view of Product Management
  • 35. Another view of Product Management
  • 36. Product Management looks across silos…
  • 37. But works with each individually to foster change
  • 38. Every Activity is part of a Sale
    Nail it, then Scale it
    Change is a process, not an event
    Think horizontally, act vertically
    Product Management Axioms
  • 39. Get your favourite Axiom on a Mug!
    http://www.zazzle.com/onpm44
  • 40. Rules to Follow for Product Management Success
    Saeed Khan
    Twitter: @saeedwkhan, @onpm
    http://www.onproductmanagement.net
    Product Management Axioms