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208 radical product - translating vision and strategy to execution product camp (nidhi aggarwal & radhika dutt & geordie kaytes)

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ProductCamp Boston May 12 2018

Published in: Marketing
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208 radical product - translating vision and strategy to execution product camp (nidhi aggarwal & radhika dutt & geordie kaytes)

  1. 1. How to translate your strategy Into a practical execution plan
  2. 2. Key insights from this session 1. We are iterating but I feel like we’re not moving the needle. How do I know if I’m measuring the right things? 2. How do I prioritize my backlog so it’s aligned with my vision? 3. How can I take on a more strategic role and influence other functions in my company to deliver on my product strategy?
  3. 3. Let’s start with the first question: “We are iterating but I feel like we’re not moving the needle. Are we measuring the right things?”
  4. 4. Exercise (3 min) 1. Write down all the metrics you’re measuring for your product today 2. Write a couple of words for each metric on WHY you’re measuring it
  5. 5. Common “measurement diseases” … that occur when execution is not tied to a vision and strategy.
  6. 6. Narcissus Complex Metrics focused on vanity Disconnected from customers “We need to optimize this metric because our VCs told us to measure it.”
  7. 7. Hypermetricemia Obsession with metrics and analytics Incremental product improvement, stuck in local maxima “MEASURE EVERYTHING! TEST EVERYTHING!”
  8. 8. Lean Agileand ...are risk-mitigating execution techniques, not value-creating product strategy tools ...are helpful, but not sufficient, for creating customer centric products
  9. 9. Who are we? Radhika Dutt Product Management @RadhikaDutt Nidhi Aggarwal Business Strategy @AggarwalNidhi Geordie Kaytes Product Design @didgeoridoo
  10. 10. What is RADICAL PRODUCT ?
  11. 11. It’s a movement of product leaders creating vision-driven products ...based on a shared language for product vision and strategy
  12. 12. How does it fit in my organization? Vision/Strategy : Execution : : Radical Product : Lean/Agile
  13. 13. The free and open-source Radical Product Toolkit helps you... Define your vision Develop your strategy Execute against metrics Set your priorities ...and communicate these across your team and within your organization
  14. 14. The toolkit makes Radical Product thinking practical and accessible So, let’s get started.
  15. 15. VISION Define your
  16. 16. “To be the go-to platform for wine education and purchasing.”
  17. 17. “To be the go-to platform for wine education and purchasing.” NOT A GOOD VISION
  18. 18. “To make buying and learning about wine less intimidating and more enjoyable for people who want to drink good wine but don’t have the time to become experts.” MUCH BETTER!
  19. 19. What is a “good” vision ? Hint: it’s not about you
  20. 20. A “good” vision... ...is centered on the problem ...can be shared by both your team and your customers ...and visualizes a concrete end state
  21. 21. Use the Radical Vision Worksheet to iterate on your vision until you’re happy with it Today, when identified group of people want to desirable outcome , they have to current activity/solution(s) . This is unacceptable, because shortcomings of current solution . We envision a world where shortcomings are resolved . We’re bringing this world about through broad technology/approach .
  22. 22. STRATEGY Develop your
  23. 23. The RDCL strategy canvas helps you answer four questions Capabilities C Design “What do people use?” DR Real Pain Points Logistics “How do we deliver it?” L “Why do people care?” “How do we do it?”
  24. 24. Likelii’s RDCL Strategy
  25. 25. How do you decide if your strategy is a good one?
  26. 26. Personnel Risk Stakeholder Risk Technology & Ops Risk Legal & Regulatory Risk Financial Risk What could kill your product tomorrow?
  27. 27. Likelii Sustainability Statement Currently, the greatest risk to our product’s existence is that greatest risk If this happens, we won’t be able to continue operating because consequence(s) of risk This risk will most likely come true if factors that increase/amplify risk Some factors that could help us mitigate the risk are factors that decrease/mitigate risk
  28. 28. D: Build wine education programs and content L: Automate integration with stores so recommendations are in sync with inventory C: Understand taste preferences without intimidating users D+L: Create wine “learning kits” as a subscription model C: Generate actionable recommendations, quick gratification L: Sales funnel improvement: - Google ad-words based marketing to sell specific wines - Use Robert Parker point ratings
  29. 29. STRATEGIC ROADMAP Craft your
  30. 30. Drive your RDCL strategy cross-functionally ● List each of the Initiatives from your RDCL Strategy ● For each Initiative, list Milestones - accomplishments that will show the Initiative is done ● List Teams responsible for delivering each milestone
  31. 31. Cross-functional Strategic Roadmap
  32. 32. Likelii’s Strategic Roadmap
  33. 33. Let’s look at one Initiative
  34. 34. EXECUTION & MEASUREMENT MODEL Craft your
  35. 35. For each Milestone in an Initiative, craft... ● Metrics - what metrics will tell us that we are making progress toward our next milestone? ● Hypotheses - why do those metrics represent progress towards the milestone? ● Activities - what concrete actions will you take to test these hypotheses?
  36. 36. Execution and Measurement Model
  37. 37. Let’s fill out Key Metrics for Likelii
  38. 38. Execution and Measurement Model
  39. 39. Let’s fill out Hypotheses for Likelii
  40. 40. Execution and Measurement Model
  41. 41. Zooming in on Activities Activities for: Designed interface to understand taste preferences and price point
  42. 42. ● Milestones make up your MVP (and increments thereafter) ● Test Hypotheses and prove or disprove them ● Review and adjust RDCL Strategy and Strategic Roadmap every quarter based on learnings Lean Agile ● Activities should designed to fit into 1-2 sprints ● Enter Activities in your PM tool (Jira, Pivotal Tracker, etc.) ● Update Execution and Measurement Model every sprint Integrating Radical Product thinking into...
  43. 43. Exercise (at home) 1. Craft your Product Vision and RDCL Strategy 2. Craft your Strategic Roadmap 3. Develop your Execution Plan and Metrics + Hypotheses for each Milestone in the Strategic Roadmap 4. Compare these Metrics to what your wrote today 5. Tell us about any “Aha!” moments!
  44. 44. QUESTIONS?
  45. 45. THANKS! www.radicalproduct.com
  46. 46. A Vision is not a Mission! VisionMission Why we work Where we’re going (Actionable)(Aspirational)

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