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Marcel Furmie: Creating Groundbreaking New Products

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Marcel Furmie: Creating Groundbreaking New Products

  1. 1. Lessons learned from Creating Groundbreaking Products © Marcel Furmie, 2021
  2. 2. Bio Product Director & Inventor • TED Emerging Innovator 2019 • London School of Economics • USC Marshall School of Business • Successful exit (marketing tech) • Medical/health tech • Director of Product @ Quantgene • Founder and CEO @ Fifo Technologies 2/15 Marcel Furmie
  3. 3. Lessons learned journal
  4. 4. Favorite PM bloggers: Alexis & Adrienne https://productmanagers.substack.com/arc hive?sort=top Lenny Rachitsky https://www.lennysnewsletter.com/archive? sort=top Julie Zhou https://joulee.medium.com/
  5. 5. Lesson 1: Framing Define the problem/ vision/ goal well
  6. 6. • If that question divides your user group, which user group has the biggest market opportunity - is it people sending critically important messages like OTPs or a marketing company sending big volumes of lower importance messages? • What inherent problems, constraints and limitations lie in dealing with regulations and the cellular networks? • Who are the people sending SMS? • Who are they sending it to? • What companies do they rely on now and how can we be different? • What is the content matter of the messages? • Is performance or deliverability the biggest priority?
  7. 7. Framework • Competition • user experience/design • Economics • Technology • Market • user segments • business models?
  8. 8. Level up to great PM • Add insights from your own experience and knowledge to the problem
  9. 9. New definition • My problem was then defined as “high volume transactional SMS senders hit huge delays when sending time- critical SMS to millions of users”
  10. 10. be in love with the PROBLEM and never with your solution 3/15
  11. 11. Lesson 2: Goal setting Goals cannot be attained without a medium: an organization's culture. - John Doerr
  12. 12. goals are just a concise expression of two things: a team’s (1) prioritization and (2) speed. - Adrienne and Alexis
  13. 13. Journal : Always solve the biggest problems
  14. 14. Journal entry 1: Pick something you enjoy doing
  15. 15. Fighting cancer is personal for me.
  16. 16. *Source: American Cancer Society, American Cancer Society, USPSTF † For the average risk population, some high-risk patient standards may vary
  17. 17. Early Detection is the Best Protection † 200,000+ American Lives
  18. 18. “current cancer screening methods don’t routinely search for most of the common types of cancer so when we do find it, the mortality rate is often times 10x worse”
  19. 19. if the goal doesn’t scare you, it’s probably too mild! -Alexis and Adrienne
  20. 20. Great PM’s
  21. 21. 3 areas of risk: User risk Business risk Ops + technology risk
  22. 22. User risk: PMF “When we hit PMF, we started feeling pull for the first time” “Like getting pressed into the back of your seat by a fast car or a plane taking off” “Word of mouth was uncontrollable” Lenny Rachitsky
  23. 23. TIME
  24. 24. “Great PM’s aren’t the glue”. - Alexis and Adrienne 3/15
  25. 25. As Boz puts it, “communication is the job.” 3/15
  26. 26. Lenny’s communication tricks • Emails • Docs • Meetings • Presentations • Storytelling Lenny Rachitsky
  27. 27. It is VERY hard to over communicate as a Product Manager. 3/15 Lenny Rachitsky
  28. 28. THANK YOU Email: marcelfurmie@gmail.com LinkedIn: https://www.linkedin.com/in/marcel-furmie/ “In God we trust; all others must bring data.” – W. Edwards Deming 3/15
  29. 29. Sources in the notes 3/15

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