Webcast: How To Create a Compelling Business Case For Your Product Ideas

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You have some great ideas to create successful products, but you can't convince key stakeholders within your company to take action without a high level of certainty that they are worth the investment. How these decisions are made often determines whether your organization succeeds or fails.

A business case provides evidence to confirm whether or not a proposed product is a good investment. Its importance significantly increases as the cost and complexity of the product idea increases.

This session will introduce you to a better approach for creating and presenting business cases that executives and senior managers within your company will respect; one that highlights the value proposition in your proposed ideas, while ensuring a comprehensive and thorough evaluation. This approach will bring enhanced credibility to all your recommendations.

About the Speaker
Hector Del Castillo has over 15 years of experience transforming products to wealth for technology-based companies by building and directing high performing product teams, improving core business processes and establishing strategic partnerships. He has launched several profitable technology-based products and solutions. He provides services as a consultant, contractor, coach, or trainer to companies that that want to grow by strengthening their product portfolio and creating new revenue streams.

Upcoming Events
For more information regarding this topic or certification courses near you, contact Hector Del Castillo at http://linkd.in/hdelcastillo.

About AIPMM
The AIPMM is the hub of all things product management. It is where product professionals go for answers. With members in over 65 countries, it is the worldwide certifying body of product team professionals.

It is the world's largest professional organization of product managers, brand managers, product marketing managers and other product team professionals who are responsible for guiding their organizations, or clients, through a constantly changing business landscape.

AIPMM's certification programs are internationally recognized because they allow product professionals to demonstrate their expertise and provide corporate members an assurance that their product management and marketing teams are operating at a high competency level.

Visit http://www.aipmm.com.

Upcoming Webinars: http://aipmm.com/aipmm_webinars/
Subscribe: http://www.aipmm.com/subscribe
LinkedIn: http://www.linkedin.com/company/aipmm
Membership: http://www.aipmm.com/join.php
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Webcast: How To Create a Compelling Business Case For Your Product Ideas

  1. 1. © AIPMM 2013 www.aipmm.com AIPMM Webinar Series www.aipmm.com
  2. 2. © AIPMM 2013 www.aipmm.com
  3. 3. © AIPMM 2013 www.aipmm.com – Founded 1998 – World’s largest professional association for product management, product marketing and brand management – Provides globally recognized certifications: • Certified Product Manager • Certified Product Marketing Manager • Agile Certified Product Manager • Certified Innovation Leader • Certified Brand Manager
  4. 4. © AIPMM 2013 www.aipmm.com Tweet! Hector Del Castillo: @hmdelcastillo AIPMM: @AIPMM Therese Padilla: @theresepadilla Paula Gray: @paulagray
  5. 5. © AIPMM 2013 www.aipmm.com Participate and Win! • One Amazon $50 gift card • One hour free product management assessment or consulting session for the first 10 people that request it
  6. 6. © AIPMM 2013 www.aipmm.com Today’s Speaker Moderator: Paula Gray, AIPMM Anthropologist Presenter: Hector Del Castillo, CPM, CPMM Senior Product Innovation Consultant hmdelcastillo@aipmm.com linkd.in/hdelcastillo
  7. 7. © AIPMM 2013 www.aipmm.com FEATURED PRESENTATION
  8. 8. © 2013 HDC & Associates http://linkd.in/hdelcastillo Hector Del Castillo linkd.in/hdelcastillo
  9. 9. © 2013 HDC & Associates http://linkd.in/hdelcastillo What We Will Discuss 1. Why You Need a Business Case 2. What Is a Business Case 3. Steps To Create a Compelling Business Case 4. Pitfalls To Avoid 5. Key Takeaways
  10. 10. Why You Need a Business Case
  11. 11. What is a Business Case?
  12. 12. Key Elements • Executive Summary • Market Problem • Product – Overview – Value Proposition – Marketing Mix • Market – Competitors – Competing Products – Alternative Solutions – Key Partners & Channels • Customers – Customer Segments – Target Customers • Business – Business Drivers – Key Partners – Success Criteria – Risk Assessment • Organization – Key Activities and Resources – Implementation Approach – Constraints • Financial Analysis – Financial Metrics – Assumptions – Opportunity Costs • Conclusion – Recommendation – Next Steps • Appendix
  13. 13. Steps To Create a Compelling Business Case
  14. 14. Nine Steps Define market problem Identify customer segments, needs and behavior Identify competing & substitute products Define product value proposition Perform business analysis Identify organizational constraints Perform financial analysis Make recommendations Obtain management approval
  15. 15. Tips For Creating A Compelling Business Case
  16. 16. 1. Get buy in from executives
  17. 17. 2. Encourage teamwork
  18. 18. 3. Use checklists Done Product Business Case Creation Checklist Owner Areas of Concern □ Commitment for business case creation was obtained Hector □ Core team has been identified Hector □ Roles and responsibilities have been assigned Hector □ Executive sponsors for approval have been identified Hector □ Market problem has been identified Hector □ Customers, needs and behavior have been identified Sally □ Competing and substitute products have been identified Hector □ Product value proposition has been defined Hector □ Business analysis has been performed Mary □ Organizational constraints have been identified John □ Financial analysis has been performed Jennifer □ Recommendations have been made Hector □ Business case has been approved Lisa
  19. 19. 4. Use a standard document guide Customer • Target customers • Customer overview • Customer segmentation • Customer segments Product • Value proposition • Place • Promotion • Price • People • Process • Physical evidence • Product positioning Financial Analysis • Revenue streams • Cost structure • Estimated P&L • Assumptions • Risk assessment Organization • Scope & schedule • Communication plan • Impact assessment Market • Competitive landscape • Opportunities • Threats • Market segments • Competitors • Positioning • Market strategy Business • Business strategy • Business model • Competitive advantages • Barriers to entry • Advantageous barriers Recommendations • Stop, Recycle, Acquire, License, and/or Build Problem Statement • Market opportunities • Unmet needs (pain points) Source: Business Case Canvas, H. Del Castillo, AIPMM, © 2010-2013, All Rights Reserved. Business Case Canvas
  20. 20. 5. Expect iteration early and often Business Case PRD Roadmaps MRD
  21. 21. 6. Establish realistic success criteria 1. Why should we invest? 2. What happens if we don’t? 3. What are we going to build? 4. Who needs to be involved? 5. How long will it take? 6. What is the window of opportunity? 7. How much will it cost to implement? 8. What is the unit price? 9. What are target customers willing to pay for a solution? 10. How many unit sales to reach profitability? 11. Who are the competitors? 12. What other alternatives do customers have today? 13. Who else is likely to enter this market? 14. What is the marketing effort required to achieve target ROI?
  22. 22. 7. Identify and track risk factors Source: swsi.moodle.tafensw.edu.au
  23. 23. Pitfalls To Avoid
  24. 24. © 2013 HDC & Associates http://linkd.in/hdelcastillo Key Takeaways • Helps make smarter decisions, better results1 • Helps prioritize investment opportunities2 • Reduces time to market3 • Establishes clear direction and objectives4 • Allows you to guide key product decisions5
  25. 25. © 2013 HDC & Associates http://linkd.in/hdelcastillo My Next Webinar Transform Your Career With An AIPMM Certification Tuesday, Sep 3rd, 1 pm ET
  26. 26. © 2013 HDC & Associates http://linkd.in/hdelcastillo Upcoming Workshop Making The Case For Your Product Wednesday, Sep 25th, 12-2 pm ET
  27. 27. © 2013 HDC & Associates http://linkd.in/hdelcastillo Free Consulting Session • First ten people to submit information via email • Please include background on product or issue • Must include name, title, email address, phone number, and company info
  28. 28. © 2013 HDC & Associates http://linkd.in/hdelcastillo Hector Del Castillo • Senior consultant with over 15 years of experience transforming products to wealth for technology companies • AIPMM Body of Knowledge (ProdBOK®) Contributor • Established companies – Jet Propulsion Laboratory, Lucent Technologies, MEI Technologies • Small companies and startups – Nextone Communications, Smith Micro Software • Launched 30+ Products for global deployment – HW/SW, Telecom, Enterprise Mobility, Information Security Services, Professional Development • Certified PMP®, CPM® and CPMM® • University of California at Santa Barbara, MS EE • University of Texas at El Paso, MS EE, BS EE 55
  29. 29. © AIPMM 2013 www.aipmm.com Q & A Moderator: Therese Padilla, AIPMM President Presenter: Hector Del Castillo, CPM, CPMM Senior Product Innovation Consultant hmdelcastillo@aipmm.com linkd.in/hdelcastillo
  30. 30. © AIPMM 2013 www.aipmm.com Upcoming Course Certified Product Marketing Manager® 9th & 10th September 2013 Grand Millennium Kuala Lumpur 160, Jalan Bukit Bintang 55100 Kuala Lumpur, Malaysia marcus evans professional training Tel: 603 2117 4888 Fax: 603 2145 7732 www.marcusevans.com
  31. 31. © AIPMM 2013 www.aipmm.com Upcoming Courses Course & Location Dates Days Time ACPM® Certification Prep Course & Exam Seattle, WA McLean, VA Aug 26, 2013 Sep 16, 2013 M 8:30 am – 5 pm CPM® Certification Prep Course & Exam Seattle, WA McLean, VA Aug 27-28, 2013 Sep 17-18, 2013 T, W 8:30 am – 5 pm CPMM® Certification Prep Course & Exam Seattle, WA McLean, VA Aug 29-30, 2013 Sep 19-20, 2013 Th, F 8:30 am – 5 pm Contact Melissa Holtzer, melissa@280group.com, for more information. Additional certification prep courses are available in Austin, San Jose, and London.
  32. 32. © AIPMM 2013 www.aipmm.com Upcoming Courses Course & Location Dates Time CIL® Certification Prep Course & Exam Athens, Greece Oct 10-11, 2013 9 am – 6 pm CPM® Certification Prep Course & Exam Athens, Greece Singapore Oct 8-9, 2013 21-23 Oct, 2013 9 am – 6 pm 8 am – 5 pm CPMM® Certification Prep Course & Exam Athens, Greece Singapore Oct 14-15, 2013 28-30Oct, 2013 9 am – 6 pm 8 am – 5 pm Follow the links provided to get more information regarding these courses.
  33. 33. © AIPMM 2013 www.aipmm.com For More Information About • AIPMM membership benefits • Certification courses near you • How to prepare to take a certification exam Hector Del Castillo, CPM, CPMM Senior Product Innovation Consultant hmdelcastillo@aipmm.com linkd.in/hdelcastillo
  34. 34. © AIPMM 2013 www.aipmm.com Please Join Us Again! AIPMM Webinar Series: What is a Go-To-Market Strategy Anyway & How Do I Create One?, Friday, Aug 30th, 12 pm ET http://aipmm.com/aipmm_webinars/ Global Product Management Talk: http://www.blogtalkradio.com/prodmgmttalk Stay Informed! Newsletter: http://www.aipmm.com/subscribe LinkedIn: http://www.linkedin.com/company/aipmm Membership: http://www.aipmm.com/join.php Certification: http://aipmm.com/html/certification/

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