Mental models final
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A mental model is any concept that helps explain, analyze, or navigate the world. More importantly, for product managers, our mental models drive our decision making and our prioritization. In his 1994 talk at USC Law School Charlie Munger, the investment partner of Warren Buffet, gave his opinion that for success, you must have multiple mental models. Different situations call for different mental models. If all we have is a hammer, then everything looks like a nail, and that's obviously a bad situation to be in. There are dozens, if not hundreds, of mental models that can help you in different situations. In this talk I'm going to focus on a handful that I find most useful as a product manager. About Nils 20 years of practicing and studying software product management. I've learned a few things, against all odds. You can read my thoughts at pmhardcore.com, and hear me and Rob McGrorty talk about product management at alltheresponsibility.com.
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Mental models final
- 1. AIPMM WEBINAR SERIES Mental Models for Product Managers
- 3. Huh? Mental Model = Any concept that helps explain, analyze, or navigate the world
- 6. Toolbox
- 7. Toolbox If all you have is a hammer, then you have to solve every problem as though it were a nail.
- 8. Toolbox “80 or 90 important models will carry about 90% of the freight in making you a worldly-wise person.” If all you have is a hammer, then you have to solve every problem as though it were a nail.
- 9. Examples Hanlon’s Razor— “Never attribute to malice that which is adequately explained by carelessness.”
- 10. Examples Hanlon’s Razor— “Never attribute to malice that which is adequately explained by carelessness.” Activation Energy— “The minimum energy which must be available to a chemical system with potential reactants to result in a chemical reaction.”
- 11. Examples Hanlon’s Razor— “Never attribute to malice that which is adequately explained by carelessness.” Scientific Method— “Systematic observation, measurement, and experiment, and the formulation, testing, and modification of hypotheses.” Activation Energy— “The minimum energy which must be available to a chemical system with potential reactants to result in a chemical reaction.”
- 12. Examples Hanlon’s Razor— “Never attribute to malice that which is adequately explained by carelessness.” Scientific Method— “Systematic observation, measurement, and experiment, and the formulation, testing, and modification of hypotheses.” Opportunity Cost— “The value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives.” Activation Energy— “The minimum energy which must be available to a chemical system with potential reactants to result in a chemical reaction.”
- 13. Why Mental Models for PMs?
- 14. Why Mental Models for PMs?
- 15. Why Mental Models for PMs?
- 16. Why Mental Models for PMs?
- 17. Why Mental Models for PMs?
- 18. Why Mental Models for PMs?
- 19. Why Mental Models for PMs?
- 20. Why Mental Models for PMs?
- 21. Why Mental Models for PMs?
- 22. Value Proposition For _____ (market/cust), X is a _____ (category) with _____, _____ (features). Unlike competitors, it has ____ (differentiators)
- 23. Value Proposition For _____ (market/cust), X is a _____ (category) with _____, _____ (features). Unlike competitors, it has ____ (differentiators)
- 24. Value Proposition For _____ (market/cust), X is a _____ (category) with _____, _____ (features). Unlike competitors, it has ____ (differentiators)
- 25. Value Proposition For _____ (market/cust), X is a _____ (category) with _____, _____ (features). Unlike competitors, it has ____ (differentiators)
- 26. Categories Of Mental Models • Templates • Categorization • Heuristics • Cognitive Laws • Methodologies • Frameworks
- 27. Templates • Value proposition • Three Laws of Marketing Physics • Overt Benefit • Dramatic Difference • Real Reason To Believe • User story template – I.N.V.E.S.T. • V.A.L.U.A.B.L.E. Feature Template
- 28. Categorization
- 29. Categorization – Value vs Cost 2x2
- 30. Categorization – Value vs Cost 2x2
- 31. Categorization – Value vs Cost 2x2
- 32. Categorization – Value vs Cost 2x2
- 33. Categorization – Gartner Magic Quadrant
- 34. Categorization – TriKro’s Lean Startup Experiments
- 35. Categorization – BCG Matrix – It’s Non-linear!
- 36. Heuristics • Decision-Making • It’s never an either/or decision • The 10/10/10 rule • 10 days • 10 months • 10 years • Rules of Thumb • 10x better • It has to work
- 37. Methodologies: Mental Models About Risk and Knowledge • Waterfall • Goal: Known, Tasks: Known • Agile/Scrum • Goal: Known, Tasks: Unknown • Lean • Goal: Unknown, Tasks: Unknown
- 38. Methodologies: Mental Models About Risk and Knowledge • Waterfall • Goal: Known, Tasks: Known • Agile/Scrum • Goal: Known, Tasks: Unknown • Lean • Goal: Unknown, Tasks: Unknown
- 39. Methodologies: Mental Models About Risk and Knowledge • Waterfall • Goal: Known, Tasks: Known • Agile/Scrum • Goal: Known, Tasks: Unknown • Lean • Goal: Unknown, Tasks: Unknown
- 40. Methodologies: Mental Models About Risk and Knowledge • Waterfall • Goal: Known, Tasks: Known • Agile/Scrum • Goal: Known, Tasks: Unknown • Lean • Goal: Unknown, Tasks: Unknown
- 41. The Cynefin Model Building a house Using agile to implement a feature Discovering a new market problem to solve
- 42. Frameworks - Different Lenses • Pragmatic Marketing • AIPMM • Nils’ framework • “Badass”
- 43. Frameworks - Different Lenses • Pragmatic Marketing • Tasks • AIPMM • Nils’ framework • “Badass”
- 44. Frameworks - Different Lenses • Pragmatic Marketing • Tasks • AIPMM • Process • Nils’ framework • “Badass”
- 45. Frameworks - Different Lenses • Pragmatic Marketing • Tasks • AIPMM • Process • Nils’ framework • Big picture • “Badass”
- 46. Frameworks - Different Lenses • Pragmatic Marketing • Tasks • AIPMM • Process • Nils’ framework • Big picture • “Badass” • User’s perspective
- 47. Summing Up • Mental models help you think better • A filled-in toolbox means better decisions, prioritization, communication, and persuasion • They come in many guises • Templates • Heuristics • Methodologies • Categorization tools • Frameworks • Sometimes you have to find the underlying mental models
- 48. How To Use – Three Actions 1. Articulate your value proposition • Four part framework – category, customer, benefits, differentiators • (This is hard - you might find yourself struggling. If you’re struggling, imagine how your market is struggling to understand why they should buy your thing.) 2. What’s your product’s 10x thing? • “Not only will you have 1/10 the downtime, but you’ll implement 10x faster than with our competitors.” 3. Study up on mental models • Constant learning gives you a leg up • More tools = more problems you can solve
- 49. For More Info • Mental Models For Product Managers – Part 2 • On the Hardcore Product Management blog • http://pmhardcore.com • Contains links to books and concepts mentioned • All The Responsibility, None Of The Authority podcast • http://alltheresponsibility.com
- 50. Upcoming Webinars BUILDING BUYER PERSONAS, PRODUCT ROADMAPS AND MORE - HOW TO ENSURE YOU'RE ASKING THE RIGHT PEOPLE THE RIGHT QUESTIONS WWW.AIPMM.COM/AIPMM_WEBINARS AIPMM Webinar Series: http://aipmm.com/aipmm_webinars Topic Suggestions: support@aipmm.com Announcements: 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/