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Product Development Life Cycle

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Session by Mr manish maheshwari, Manageing Director, extWeb at Intuit during a product management workshop at Bangalore on 17th May 2014 by NASSCOM and IPMA under its Product Management Express. …

Session by Mr manish maheshwari, Manageing Director, extWeb at Intuit during a product management workshop at Bangalore on 17th May 2014 by NASSCOM and IPMA under its Product Management Express.
It is about:
-­‐ Idea to launch process
-­‐ Discovering needs
-­‐ Translating need into a product

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  • 1. Agenda • Module 1 – Introduction to product management – Roles and responsibilities • Module 2 – Discovering needs – Translating need into a product – Who is a great PM?
  • 2. Agenda • Module 1 – Introduction to product management – Roles and responsibilities • Module 2 – Discovering needs – Translating need into a product – Who is a great PM?
  • 3. Understanding potential customers and the market • Research you conduct yourself: – Interviews, observations, surveys, site visits • Research others conduct that you compile: – Articles, on-line data, reports, statistics gathered by others Find the problem, Insight, Unmet need, Opportunities to disrupt Understand the market Opportunity, Trends, Current thinking Primary research Secondary research Source: Intuit
  • 4. Talking with customers Observing customers Primary research: Two approaches 1 2 Source: Intuit
  • 5. Talking with customers1 Active listening 1] Eliciting the view 2] Extract the feeling 3] Opinion or action What is your favorite color? Why is that your favorite color? Follow their process: • Tell me more • Why is that? • And then what happens? • When did that last happen…? • What did you do? Source: Intuit
  • 6. Observe Customers2 • Practice Seeing: • What they do versus what they say Source: Intuit
  • 7. Bill Payment Research: How the desk was imagined based on the customers’ description Bills to pay , sorted in order it is due To take care of, not that important Source: Intuit
  • 8. How the desk actually was Post-it reminders Source: Intuit
  • 9. Therefore, observe customers in the environment in which they do work = Follow-Me-Home (FMH) Why did the customer present a different reality? Source: Intuit
  • 10. Customer Notebook Source: Intuit
  • 11. Template Source: Intuit
  • 12. Practice this in your work • Observe your current or potential customers in their natural environment • Pay attention to actual behavior (NOT what they say they do). Behaviors do not lie • Understand the relationship between what they do and what purpose they are trying to accomplish • Successful products originate when you come up with a better way to accomplish what customers are already doing
  • 13. Agenda • Module 1 – Introduction to product management – Roles and responsibilities • Module 2 – Discovering needs – Translating need into a product – Who is a great PM?
  • 14. • Articulate a bold vision for what you will attempt to create in order to address a customers need • Make your idea tangible by listing your – customer – problem – solution • Run experiments with real customers using the “experiment loop” until you achieve product-market fit and then scale A three-step process
  • 15. Having an inspiring product vision and design principles is key to delivering awesome products Source: Intuit
  • 16. A product vision is more than a statement. It is a belief in how your product will impact the lives of those you serve It aligns the team’s passion and obsession to deliver nothing less than awesome. Inspire Align Source: Intuit
  • 17. Source: Intuit
  • 18. What EMOTION do you want the person to feel? What SPECIFICALLY are you going to do to make a DRAMATIC CHANGE in ease? How significant is the BENEFIT that we are delivering – in MEASURABLE terms? How does it go BEYOND EXPECTATIONS? What is the STARTING POINT? What are we NOT doing? (users, scope…) Design Principles
  • 19. Why experiments? We use rapid experiments to quickly test the merit of our ideas, and generate new insights about our customers. By testing ideas using real customer behavior, we quickly separate what customers say, from what they actually do in the real world Experiment to learn, not validate • Change opinions into facts • Prove or disprove our assumptions • Discover surprises about our customer • Make more informed decisions • Use data to help tell our story Rapid Experiments Rigor Inspiration Source: Intuit
  • 20. Lean Experiments Loop Minimize TOTAL time through the loop Write down the Leap of Faith Assumptions Select metric and test method Declare the number you expect to achieve Compare metrics to hypothesis Get to root cause Savor the surprises Design it to be fast and frugal Collect behavioral data Vision Leap of Faith Learn Experiment Idea Source: Intuit
  • 21. Rapid experiment loop Leap of Faith Assumption (LOF) Your LOF is the most important behavior that must be true for your idea to work. You assume it to be true, but have not yet proven this assumption with evidence. Build Experiments Build the absolute minimum required to test your assumption. Document a hypothesis and minimum success criteria, and be sure to measure real customer behavior. “If we do X, Y% of customers will behave in way Z” Learn & Decide Review metrics from your experiment, and the surprises you observed. Discuss why your hypothesis passed or failed, and new customer insights you discovered. Decide if you will change your idea (pivot), continue (persevere), or run additional experiments. “Pivot - the experiment failed” 1 2 3 Source: Intuit
  • 22. Case Study: SnapTax
  • 23. Rethinking Intuit’s Oldest Businesses “Start to file” in 10 minutes or less for easy filers Vision Source: Intuit
  • 24. Start-to-finish taxes on your smartphone in 10 minutes. Simple tax return customers Complex tax return customers SnapTax Taxes take too long and are painful to get done. Use the smartphone’s camera to streamline data entry and minimize follow-up questions. Source: Intuit
  • 25. Amazed how simple it is to file; Thrilled to get taxes done so fast. Minimize Typing! Know how app works within 30 seconds; Looks, feels, behaves like iPhone/Android app. Prepare tax return in less than 10 minutes. Find out right away if this app is not for me, if my return is too complex. Design Principles SnapTax Source: Intuit
  • 26. Comprehensive Case Study: txtWeb
  • 27. Connecting the unconnected
  • 28. OUR INSPIRATION
  • 29. Worldwide 3 billion people or half of humanity lacks connectivity
  • 30. Government programs Weather Prices Natural wonders Health information News Recipes How to fix… Homework Home repair Career advice Entertainment Public transport Financial advice Crop growing Machine breakdowns Job openings Technology Product reviews For rent Books Email Cricket scores National disasters Welfare benefits Medicinal effects They can’t “Google” to find information Have no “Facebook” friends to share Don’t have “smartphone” apps to rely on That means…
  • 31. But they need basic local information first Jyoti, Student, Guwahati, Assam Nageshwara, Farmer, Andhra Pradesh Needs weather, news, market prices for crops Needs bus schedule, local news, train enquiry Ramesh Kumar, Hospital Employee, Jaipur, Rajasthan Needs career info., education services
  • 32. Our solution Mobile Only 1 Network Platform 2 Emerging Markets 3 Discover the Web on any mobile device
  • 33. 3,500+active apps in health, finance, entertainment, news, weather, crops, jobs, education, govt. programs... @Job @Weather @wikipedia @remedy @result @buses @eyebank @FB (a facebook app to check wall post, reply to comments etc. @2tion (a community of tutors and students on knowledge sharing) @cricket @Kisan (Crop information for farmers)
  • 34. Supports all local languages… @agri User sends to 51115 User receives from 51115 And location-specific info @weather धनसुख भाई ट्रेडडिंग किं ऩनी. उत्तम खाद, यूररया, ऩशु आहार, ट्रक्टर और खेती की बाकी सभी वस्तुओ के लऱए सिंऩकक करे. हमारी दूकान बड़ोदा मिंदी के ठीक सामने है. Note: To receive this, your handset needs to support Hindi font. Most Indian phones come pre-installed with Hindi font. Weather for: New Delhi, Delhi, IN Current : 27'C , Fog Today : 27'C to 32'C , Thunderstorms Wed : 28'C to 35'C , Thunderstorms Note: txtWeb will make intelligent guess based on your number. You can overwrite it. E.g. SMS “@location Mumbai” to change to Mumbai
  • 35. Video
  • 36. Now that we know enough about txtWeb, let us do this exercise for txtWeb
  • 37. txtWeb is a platform Business/Developer “I want to reach anyone with a mobile phone quickly” “I want access to services anytime, anywhere quickly” Users txtWeb
  • 38. For businesses and developers Build once. Works on all phones Free Fast - 5 min for static content, 5 hrs for app Easy - APIs to repurpose web content
  • 39. For users Quick and Simple One stop shop Easy discovery No data plan needed All phones No data plan needed All phones
  • 40. Built by a viral community Used across 1000+ towns & cities in India Over 4,000 developers
  • 41. Three big mistakes and learning Mistakes Pivot typeLearning Urban & Semi-urban SMS: existing behavior Young adults Rural/NGO Customer segment 1 Collection of 'good' apps Pure-play platform Do not take sides. Let the market decide Build enabling functionalities Offering & team focus 3 Access to internet Customer pain Convenience: bite-size info Sports, social sharing & utility info 2
  • 42. Several top Indian internet properties are already on txtWeb… • 15 of the top 20 consumer Internet properties • Travel, News, Entertainment, Dating, Jobs, Education & Sports • Sample apps: @mmtdirections, @cricbuzz, @justeat, @yourstory, @pyka, @job, @vtualerts, @food, @events • 1400 small businesses signed up on txtWeb.com • 1900 monthly active txtSites Large business Smaller business
  • 43. …and find txtWeb app more compelling than smart phone apps… 44 Monthly active users Monthly user interactions Interactions per user 80K 1 million 12 340K 9.4 million 28 txt-Web more by 4.3x 9.4x 2.3x Note: As of March 3, 2012. User data combined for @cricbuzz & @cri app since both belong to www.cricbuzz.com iPhone app txtWeb app
  • 44. …and complementary to their online presence
  • 45. Smaller businesses are excited about the leads they are getting from txtWeb… Click to call Click to mobile web Link to social media Text to win/coupon …and are willing to pay Rs.10-15 (~US$ 0.25) per lead
  • 46. Developers delight in usage, ease, and support… “Got an idea which can give value to tons of users via SMS? Get started immediately *developing on txtWeb+.” “exceptionally high usage” *of our first txtWeb app] “*txtWeb+ requires no learning to newer technology or installation of libraries/SDKs--it’s a developer’s dream to work with…” “Also, we would like to extend our sincere thanks to Srividhya, Manish, Shantanu, and the geeks in house Srini and Aritra for their continuous encouragement and support.”
  • 47. …and hailed as the first platform of its kind by tech bloggers Browsing on mobile gaining speed with txtWeb “ …txtWeb supports all languages making it relevant for users in tier II towns & in rural India…” “…txtWeb is a revolutionary platform where anyone with a mobile phone can discover and consume content just by SMSing…” “…If you thought all the innovations and hi-tech product roll-outs were happening only in the data side of the industry, you will be pleasantly surprised…”
  • 48. Widely covered by media, national and regional Gujarat Vaibhav Newspaper …txtWeb brings to market first open, simple, on- demand mobile SMS-app platform to benefit 700 million phone users in India…Economic Times News …get your info straight into your message box whether you are in the train or in the loo… Rajasthan Patrika …a 24x7 service for the benefit of Indians on their mobile phone…so simple that anyone can use it… News X – Tech & You …simple functionality- focused app can unlock a wealth of info…txtWeb does it for 600 million Indians…
  • 49. Agenda • Module 1 – Introduction to product management – Roles and responsibilities • Module 2 – Discovering needs – Translating need into a product – Who is a great PM?
  • 50. Customer Understanding Storyteller, learn everyway, savor surprises All-Around Expert Competition, domain, product, and technology Create-the-business E2E biz thinking, ecosystem, go big Create-the-Offering From concept to launch and beyond PM Skills 1 Decisive Open-minded, Strong POV, confident, bias-for-action Innovative Ideate, no constraints, innovation everywhere Passionate Evangelist, energy amplifier, curious, love building products Mindset & Attitude 2 Build Strong Teams Inspire, engage, motivate Give Back Learn, Teach, learn Share, feedback Communicate clearly Inspire confidence, set context, and frame, lead change Execute Effectively Results, prioritize, tenacious Apply Business Acumen biz, understanding, True North, Strategy Leadership Skills 3 51 Attributes of a great PM Source: Intuit
  • 51. The top 1% PM excel at all of them (1/2) 1. Think big - A 1% PM's thinking won't be constrained by the resources available to them today or today's market environment. They'll describe large disruptive opportunities, and develop concrete plans for how to take advantage of them. 2. Communicate - A 1% PM can make a case that is impossible to refute or ignore. They'll use data appropriately, when available, but they'll also tap into other biases, beliefs, and triggers that can convince the powers that be to part with headcount, money, or other resources and then get out of the way. 3. Simplify - A 1% PM knows how to get 80% of the value out of any feature or project with 20% of the effort. They do so repeatedly, launching more and achieving compounding effects for the product or business. 4. Prioritize - A 1% PM knows how to sequence projects. They balance quick wins vs. platform investments appropriately. They balance offense and defense projects appropriately. Offense projects are ones that grow the business. Defense projects are ones that protect and remove drag on the business (operations, reducing technical debt, fixing bugs, etc.). Source: Quora answer by Ian McAllister, General Manager at Amazon
  • 52. 5. Forecast and measure - A 1% PM is able to forecast the approximate benefit of a project, and can do so efficiently by applying past experience and leveraging comparable benchmarks. They also measure benefit once projects are launched, and factor those learnings into their future prioritization and forecasts. 6. Execute - A 1% PM grinds it out. They do whatever is necessary to ship. They recognize no specific bounds to the scope of their role. As necessary, they recruit, they produce buttons, they do bizdev, they escalate, they tussle with internal counsel. 7. Understand technical trade-offs - A 1% PM does not need to have a CS degree. They do need to be able to roughly understand the technical complexity of the features they put on the backlog, without any costing input from devs. They should partner with devs to make the right technical trade-offs (i.e. compromise). 8. Understand good design - A 1% PM doesn't have to be a designer, but they should appreciate great design and be able to distinguish it from good design. They should also be able to articulate the difference to their design counterparts, or at least articulate directions to pursue to go from good to great. 9. Write effective copy - A 1% PM should be able to write concise copy that gets the job done. They should understand that each additional word they write dilutes the value of the previous ones. They should spend time and energy trying to find the perfect words for key copy (button labels, calls-to- action, etc.), not just words that will suffice. Source: Quora answer by Ian McAllister, General Manager at Amazon The top 1% PM excel at all of them (2/2)
  • 53. Some closing thoughts…
  • 54. 55 Globally, There Has Been a Paradigm Shift in Technology-based Innovation Source: The Economist, January 18th issue • Free and easily available APIs. e.g. maps (Google), payment (PayPal) • Frictionless tools to collaborate e.g. GitHub on writing code, UserTesting.com to test usability Participatory creation • Platforms to host (Amazon’s AWS), distribute (App stores) and market (Facebook) anywhere …with almost zero upfront payment • Ability to scale elastically available to even the smallest start-up Borderless & Scalable Investment needed and time to outcome has shrunk by an order of magnitude in every country
  • 55. 56 Locally, India is Moving From an Outsourcing Hub to a Product Nation Order of magnitude improvement in numbers and maturity of Indian software product companies Source: NASSCOM; Productsmade.in; Venture Intelligence; Zinnov – . http://www.slideshare.net/ProductNation/zinnov-product-startup-landscape-in-india- 2012 600 400 200 0 2013 500 2008 247 Number of New Product Companies in a Year $1 billion market cap product start-ups Recent acquisitions of Indian start-ups • Little Eye Labs: helps developers analyze performance of Android apps  Acquired by Facebook for $11m in January 2014 • Imperium: provides security products for websites  Acquired by Google for $9m in January 2014
  • 56. It is an exciting time to be a Software Product Manager in India
  • 57. Manish Maheshwari Co-Founder & Managing Director, txtWeb Manish at TED ; LinkedIn Connect ; manish@txtWeb.com txtWeb is the world’s largest app store for text-based apps, which work across all messaging platforms e.g. SMS, Facebook Messenger, WhatsApp, Google Talk.