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Global Marketing
Andre Piazza @AndreAtDell
http://linkd.in/andrepiazza
Andre Piazza @AndreAtDell
Why decisions matter today
more than ever?
• Pervasive
• Increased access to information
• Variety of options
• More stakeholders
• Pressure to decide faster
• Limited ability to make decisions on a daily basis
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
We make a variety of decisions
through life
Lifecycle
– Education
– Transportation
– Health
– Housing
Professional
– Career
– Employment
Financial
– Savings
– 401K
Lifestyle
– Family
– Romantic
Routine
– Do / don’t; go / no go
– Priorities
Civic
– Elections
– Jury Duty
– Military
24
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
What is a great decision?
• Achieve goals
• Aligned with beliefs, values
• Address (implicit, explicit) expectations from everyone
involved
… in various degrees. Hopefully as close to expectations as
possible.
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 4
Benefits of an intentional
approach to decisions
• Build value into products, faster
• Increase your ability to influence others
• Reduce stress
• Advance your career
• Ultimately, reclaim life
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 5
there’s more to this journey than
just avoiding bad behaviors
poor decisions
great decisions
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 6
5 tips for Optimal Product
Decisions
W
R
A
P
P
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 7
5 tips for Optimal Product
Decisions
Widen your options
Reality-test your assumptions
Attain emotional distance
Prepare for success (or failure)
Pursue a process
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 8
5 tips for Optimal Product
Decisions
options validate implicationschallenge sustainability
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 9
Widen your options
• Focus on creating alternatives
• Avoid a narrow frame
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 10
Widen your options
Avoid a narrow frame
FROM: Should I do < A >: yes or no?
Should I do < A > or < B >?
• are you solving the right problem?
• limited to 1 course of action
TO: What If I do < A > and < B >?
• creates options
• enables multi-tracking: multiple courses of action
ALTERNATIVE: What’s the best way to achieve <
goal >?
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 11
Reality-test your assumptions
• Develop early warning systems
• Validated learning in MVPs
• Prototype early
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 12
Vote: choose to hear a story
from the career of
Bob Dylan David Bowie Van Halen
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 13
Van Halen’s contract in the 70s
demanded a bowl with no brown M&Ms
available backstage.
Penalty was forfeiture of the contract.
This ingenious early warning system
checked if venue would meet band’s
sound & safety requirements.
Reality-test your assumptions
Early warning systems
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
Reality-test your assumptions
Quantitative Feature Prioritization
Weighted average covering:
– Customer Impact
– Business Impact
– Cost, Ease and Timeline of implementation
– Competitive Impact
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 15
Reality-test your assumptions
Qualitative Feature Prioritization
Kano Model Effect of Time: Decay of UX
3 categories:
- Dissatisfiers / Basic Needs Over time, delighters
- Satisfiers become satisfiers,
- Delighters which in turn become dissatisfiers
Satisfiers
Effect of Time
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 16
Reality-test your assumptions
MVP concept
Minimum Viable Product (MVP) is the version of a product which
allows a team to collect the maximum amount of validated learning
about customers with the least effort.
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 17
Reality-test your assumptions
Validating features in MVPs
• A/B Test (webpages)
• Usage reports
• Bug reports
• Collect feedback / suggestions natively in product
• User / Customer interviews
Surveys Web Analytics Customer
Feedback
In-person /
Lab
In-context
say do think feel
designer
tools
user
behavior
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 18
Reality-test your assumptions
Prototype early
• Wireframes
• Mock-ups
• State diagrams
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 19
Attain emotional distance
• Challenge your own biases
• Influence others
• Empathize with customer first
• Check the facts
• Understand competition
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 20
Attain emotional distance
A word about the very nature of decisions
1. Decisions are primarily emotional processes
2. Illuminated by facts, experience, intuition,
knowledge
3. With the backdrop of circumstances
To improve your decision-making skills,
you need to learn to effectively
navigate each of these elements
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 21
Attain emotional distance
"People seldom do what they
believe in.
They do what is convenient,
and then repent."
Bob Dylan
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 22
Attain emotional distance
Challenge your own biases
Your Bob Dylan choice
Halo effect
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
Attain emotional distance
Challenge your own biases Your David Bowie
choice
eCommerce and Retail
>>> Click HERE for more examples of Biases
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
Attain emotional distance
Challenge your own biases
>>> Click HERE to download cheat sheet
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
Information
overload
Lack of
meaning
Need to act
fast
What
should I
remember?
Attain emotional distance
Challenge your own biases
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
Attain emotional distance
Challenge your own biases
•Information overload sucks, so we aggressively filter.
Noise becomes signal.
•Lack of meaning is confusing, so we fill in the gaps.
Signal becomes a story.
•Need to act fast lest we lose our chance, so we jump to
conclusions.
Stories become decisions.
•This isn’t getting easier, so we try to remember the important
bits.
Decisions inform our mental models of the world.
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
Information
overload
Lack of
meaning
Need to act
fast
What
should I
remember?
Attain emotional distance
Challenge your own biases
Noise
Signal
Stories
Decisions
Worldviews
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
Attain emotional distance
Challenge someone else’s biases
WHAT: solution
WHY: narrative
MOTIVATIONS: goals beliefs values priorities
Tip: Elicit the deeper levels, and use that
information for persuasion and influence
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
Attain emotional distance
20+ #ProdMgmt biases and pet peeves
PM skills:
• We can predict the future
• We can impersonate our customers
• Our idea is the best idea, our way is the best
way, our design is the best design
Features:
• If we build it, they will come
• We really have to make this backwards
compatible
• Custom work can be easily productized
Customers and UX:
• The customer with the failed usability test is
not representative
• The customer who loves the new feature is
representative
• The customer will eagerly adopt the new
feature
• Usability doesn’t really matter in the enterprise
• It’s easy, we don’t need any
FAQs/documentation
• It’s obvious, we don’t need user testing
Process and Resources:
• Our roadmaps will remain accurate for more
than a month
• No news from < cross-functional team > is
good news
• Doubling the team size will double the output
• Product complexity scales linearly with number
of personas serviced
• Developers disproportionately lack empathy
• It is “all about execution”
Sales:
• Sales understands how to sell the new feature
• We understand how to sell the new feature
• Sales doesn’t know what the customer wants
Marketplace and Competition:
• We know who our competitors will be in one
year
Source: John Cutler
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 30
>>> Click HERE for more #ProdMgmt biases
Attain emotional distance
In building products, consider these
1. Anthropomorphism
2. Negativity bias
3. Loss aversion
4. Reciprocity
5. Peak-end effect
6. Cognitive dissonance
7. Goal gradient effect
8. Social proof
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
Attain emotional distance
In building products, consider these
Cognitive Bias Description Implementation
Anthropomorphism We like things to be
consistent and human
UX and Design Principles
Negativity bias Greater recall of negative
experiences
5:1 Positive to Negative
trade-offs
Loss aversion FOMO is 1.5-2.5x than gains Freebie lost after
expiration. 30-day trials.
Reciprocity People feel indebted for
small gifts
Useful functionality or
unexpected UX delight
Peak-end effect When forming memories,
bias pro-peak and end
Get the user to a-ha
moment ASAP
Cognitive dissonance Stress when belief and
action mismatch
Notify user when
preferences attained
Goal gradient effect The closer to the goal, the
more effort put in
Show progress to
milestone
Social proof When in doubt, follow the
crowd
Testimonials, reviews,
ratings, endorsements
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
Attain emotional distance
Empathize First
Brené Brown - The Power of Empathy (2:53)
David Wallace – This is Water (9:22)
Sheena Iyengar: The art of choosing (24:08)
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 33
Attain emotional distance
Buyer / User Personas
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 34
Attain emotional distance
Buyer’s Journey
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 35
Attain emotional distance
Check the facts
Example: Performance Dashboards
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 36
Prepare for success (or failure)
• Fallback positions
• Contingencies
• Entry and exit strategies
• Learning from failure
• User onboarding
The First 90 Days: Proven
Strategies for Getting Up to
Speed Faster and Smarter
by Michael D. Watkins
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
Pursue a process
The higher…
• the stakes
• the length of the decision
• the number of people involved
… the more you need a process to decide
Ask HOW to understand:
- criteria
- sequence of steps
- define responsibilities
-duration
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 38
Pursue a process (cted.)
It doesn’t have to be like this…
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 39
Pursue a process (cted.)
In general: the simpler, the better
TIP: For simple yet ingenuous solutions, establish:
1. triggers
2. rules of engagement
3. team operating agreement
Process ensures transparency and alignment with
everyone involved
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 40
SAMPLE: Team Operating Agreement
results in a Product Team
Pursue a process - example
Sales qualification process
• Budget
• Authority
• Need
• Timeline
Marketing funnel
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 41
Pursue a process - example
Product Management frameworks
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 42
Pursue a process - example
Lean Startup framework
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 43
Pursue a process - example
Design Principles
• Apple’s Human Interface Guidelines
• Google’s Material Design Guidelines
• IDEO’s Human-Centered Design
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
Pursue a process – Venture Capitalist
“I have struggled with the sell decisions over the course of
my career. I have held on way too long and watched a
stock literally go all the way to zero without selling it
(ouch). And I have made the even worse decision of selling
too soon and watching a stock go up 3-5x from where I
sold it.
So where I have landed on selling (decisions) is to make it
formulaic and systematic. We also let the people know
that is our policy so they are not surprised by it. It takes
the emotion out of the decision and it works better for us.”
@FredWilson
Source: http://avc.com/2016/10/selling/
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
Recap: our journey great
decisions, today
poor decisions
great decisions
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
Recap: 5 tips for Optimal
Product Decisions
Widen your options
Reality-test your assumptions
Attain emotional distance
Prepare for success (or failure)
Pursue a process
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 47
Recap: 5 tips for Optimal Product Decisions
Widen your options
• Focus on creating alternatives
• Avoid a narrow frame
Reality-test your assumptions
• Develop early warning systems
• Validated learning in MVPs
• Prototype early
Attain emotional distance
• Challenge your own biases
• Influence others
• Empathize with customer first
• Check the facts
• Understand competition
Prepare for success (or failure)
• Fallback positions
• Contingencies
• Entry and exit strategies
• Learning from failure
Pursue a process
+ BONUS
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 48
5 tips for Optimal Product
Decisions
options validate implicationschallenge sustainability
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 49
Thank You
Andre Piazza @AndreAtDell
http://linkd.in/andrepiazza
@AndreAtDell
Linkedin.com/in/AndrePiazza
"The energy of a Sales maker, the brains of an Engineer"
Andre Piazza
Slideshare.net/Apiazza
Case Study: Agile adoption
Reality-Test / Prepare for Success, Failure
CONDITIONS FAVORABLE UNFAVORABLE
Market
Environment
Customer preferences and solution options
change frequently.
Market conditions are stable and predictable.
Customer
Involvement
Close collaboration and rapid feedback are
feasible.
Customers know better what they want as
the process progresses.
Requirements are clear at the outset and will
remain stable.
Customers are unavailable for constant
collaboration.
Innovation
Type
Problems are complex, solutions are
unknown, and the scope isn’t clearly
defined. Product specifications may change.
Creative breakthroughs and time to market
are important.
Cross-functional collaboration is vital.
Similar work has been done before, and
innovators believe the solutions are clear.
Detailed specifications and work plans can be
forecast with confidence and should be
adhered to. Problems can be solved
sequentially in functional silos.
Modularity of
Work
Incremental developments have value, and
customers can use them.
Work can be broken into parts and
conducted in rapid, iterative cycles.
Late changes are manageable.
Customers cannot start testing parts of the
product until everything is complete.
Late changes are expensive or impossible.
Impact of
Interim
Mistakes
They provide valuable learning. They may be catastrophic.
SOURCE BAIN & COMPANY
FROM “EMBRACING AGILE,” MAY 2016
https://hbr.org/2016/05/embracing-agile © HBR.ORG
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 51
Case Study: Agile adoption
Widen Options / Prepare for Success / Pursue a Process
SCRUM KANBAN LEAN DEVELOPMENT
Guiding Principles Empower creative, cross-functional
teams
Visualize workflows and limit work in
process
Eliminate waste from the system as a
whole
Favorable Conditions for
Adoption
Creative cultures with high levels of trust
and collaboration, or
Radical innovation teams that want to
change their working environment
Process-oriented cultures that prefer
evolutionary improvements with few
prescribed practices
Process-oriented cultures that prefer
evolutionary improvements with
overarching values but no prescribed
practices
Approach to Cultural Change Quickly adopt minimally prescribed
practices, even if they differ substantially
from those in the rest of the
organization
Master prescribed practices and then
adapt them through experimentation
Respect current structures and
processes
Increase visibility into workflows
Encourage gradual, collaborative
changes
Respect current structures and
processes
Stress agile values throughout the
organization while minimizing
organizational resistance
Advantages Facilitates radical breakthroughs while
(unlike skunkworks) retaining the
benefits of operating as part of the
parent organization
Delivers the most valuable innovations
earliest
Rapidly increases team happiness
Builds general management skills
Avoids clashes with the parent
organization’s culture
Maximizes the contributions of team
members through flexible team
structures and work cycles
Facilitates rapid responses to urgent
issues through flexible work cycles
Optimizes the system as a whole and
engages the entire organization
Provides the ultimate flexibility in
customizing work practices
Challenges Leaders may struggle to prioritize
initiatives and relinquish control to self-
managing teams
New matrix-management skills are
required to coordinate dozens or
hundreds of multi-disciplinary teams
Fixed iteration times may not be suitable
for some problems (especially those that
arise on a daily basis)
Some team members may be
underutilized in certain sprint cycles
Practitioners must figure out how best
to apply most agile values and principles
Wide variation in practices can
complicate the prioritization of
initiatives and coordination among
teams
When initiatives don’t succeed, it can be
hard to determine whether teams
selected the wrong tools or used the
right tools in the wrong ways
Novices trying to change behaviors may
find the lack of prescriptive
methodologies frustrating
Evolutionary improvements can make
radical breakthroughs less likely and
major improvements less rapid
Leaders need to make the grind of
continuously eliminating waste feel
inspirational and fun
SOURCE DARRELL K. RIGBY, JEFF SUTHERLAND, AND HIROTAKA TAKEUCHI
FROM “EMBRACING AGILE,” APRIL 2016
https://hbr.org/2016/05/embracing-agile © HBR.ORG
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 52
BONUS
Convenience: enemy of greatness, friend of mediocrity
CONVENIENCE has multiple aspects:
1. ignorance
2. (bad) habit
3. immediate availability
3. need of consensus
4. forcing compromise
5. comfort
6. passivity
TIPS:
• challenge yourself
• embrace creative tension
• seek out emotional labor
• do the hard part first
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 53
BONUS
The Paradox of Convenience
CONVENIENCE has the potential to skew decisions toward poor.
Nonetheless, as Product Managers, an incredible way of creating value
and improving satisfaction is delivering convenience to users.
TIP: be aware of convenience when making your own decisions AND
learn to deliver convenience all day long.
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 54
Bibliography
Decisive – How to make
better choices in life and
work
by Chip & Dan Heath
BUYER PERSONAS
by Adele Revella
Embracing Agile
by Darrell K. RigbyJeff
SutherlandHirotaka Takeuchi
Enchantment
by Guy Kawasaki
Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 55

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Optimal Product Decisions - Letting the Genie out of the Bottle

  • 1. Global Marketing Andre Piazza @AndreAtDell http://linkd.in/andrepiazza Andre Piazza @AndreAtDell
  • 2. Why decisions matter today more than ever? • Pervasive • Increased access to information • Variety of options • More stakeholders • Pressure to decide faster • Limited ability to make decisions on a daily basis Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
  • 3. We make a variety of decisions through life Lifecycle – Education – Transportation – Health – Housing Professional – Career – Employment Financial – Savings – 401K Lifestyle – Family – Romantic Routine – Do / don’t; go / no go – Priorities Civic – Elections – Jury Duty – Military 24 Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
  • 4. What is a great decision? • Achieve goals • Aligned with beliefs, values • Address (implicit, explicit) expectations from everyone involved … in various degrees. Hopefully as close to expectations as possible. Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 4
  • 5. Benefits of an intentional approach to decisions • Build value into products, faster • Increase your ability to influence others • Reduce stress • Advance your career • Ultimately, reclaim life Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 5
  • 6. there’s more to this journey than just avoiding bad behaviors poor decisions great decisions Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 6
  • 7. 5 tips for Optimal Product Decisions W R A P P Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 7
  • 8. 5 tips for Optimal Product Decisions Widen your options Reality-test your assumptions Attain emotional distance Prepare for success (or failure) Pursue a process Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 8
  • 9. 5 tips for Optimal Product Decisions options validate implicationschallenge sustainability Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 9
  • 10. Widen your options • Focus on creating alternatives • Avoid a narrow frame Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 10
  • 11. Widen your options Avoid a narrow frame FROM: Should I do < A >: yes or no? Should I do < A > or < B >? • are you solving the right problem? • limited to 1 course of action TO: What If I do < A > and < B >? • creates options • enables multi-tracking: multiple courses of action ALTERNATIVE: What’s the best way to achieve < goal >? Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 11
  • 12. Reality-test your assumptions • Develop early warning systems • Validated learning in MVPs • Prototype early Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 12
  • 13. Vote: choose to hear a story from the career of Bob Dylan David Bowie Van Halen Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 13
  • 14. Van Halen’s contract in the 70s demanded a bowl with no brown M&Ms available backstage. Penalty was forfeiture of the contract. This ingenious early warning system checked if venue would meet band’s sound & safety requirements. Reality-test your assumptions Early warning systems Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
  • 15. Reality-test your assumptions Quantitative Feature Prioritization Weighted average covering: – Customer Impact – Business Impact – Cost, Ease and Timeline of implementation – Competitive Impact Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 15
  • 16. Reality-test your assumptions Qualitative Feature Prioritization Kano Model Effect of Time: Decay of UX 3 categories: - Dissatisfiers / Basic Needs Over time, delighters - Satisfiers become satisfiers, - Delighters which in turn become dissatisfiers Satisfiers Effect of Time Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 16
  • 17. Reality-test your assumptions MVP concept Minimum Viable Product (MVP) is the version of a product which allows a team to collect the maximum amount of validated learning about customers with the least effort. Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 17
  • 18. Reality-test your assumptions Validating features in MVPs • A/B Test (webpages) • Usage reports • Bug reports • Collect feedback / suggestions natively in product • User / Customer interviews Surveys Web Analytics Customer Feedback In-person / Lab In-context say do think feel designer tools user behavior Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 18
  • 19. Reality-test your assumptions Prototype early • Wireframes • Mock-ups • State diagrams Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 19
  • 20. Attain emotional distance • Challenge your own biases • Influence others • Empathize with customer first • Check the facts • Understand competition Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 20
  • 21. Attain emotional distance A word about the very nature of decisions 1. Decisions are primarily emotional processes 2. Illuminated by facts, experience, intuition, knowledge 3. With the backdrop of circumstances To improve your decision-making skills, you need to learn to effectively navigate each of these elements Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 21
  • 22. Attain emotional distance "People seldom do what they believe in. They do what is convenient, and then repent." Bob Dylan Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 22
  • 23. Attain emotional distance Challenge your own biases Your Bob Dylan choice Halo effect Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
  • 24. Attain emotional distance Challenge your own biases Your David Bowie choice eCommerce and Retail >>> Click HERE for more examples of Biases Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
  • 25. Attain emotional distance Challenge your own biases >>> Click HERE to download cheat sheet Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
  • 26. Information overload Lack of meaning Need to act fast What should I remember? Attain emotional distance Challenge your own biases Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
  • 27. Attain emotional distance Challenge your own biases •Information overload sucks, so we aggressively filter. Noise becomes signal. •Lack of meaning is confusing, so we fill in the gaps. Signal becomes a story. •Need to act fast lest we lose our chance, so we jump to conclusions. Stories become decisions. •This isn’t getting easier, so we try to remember the important bits. Decisions inform our mental models of the world. Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
  • 28. Information overload Lack of meaning Need to act fast What should I remember? Attain emotional distance Challenge your own biases Noise Signal Stories Decisions Worldviews Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
  • 29. Attain emotional distance Challenge someone else’s biases WHAT: solution WHY: narrative MOTIVATIONS: goals beliefs values priorities Tip: Elicit the deeper levels, and use that information for persuasion and influence Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
  • 30. Attain emotional distance 20+ #ProdMgmt biases and pet peeves PM skills: • We can predict the future • We can impersonate our customers • Our idea is the best idea, our way is the best way, our design is the best design Features: • If we build it, they will come • We really have to make this backwards compatible • Custom work can be easily productized Customers and UX: • The customer with the failed usability test is not representative • The customer who loves the new feature is representative • The customer will eagerly adopt the new feature • Usability doesn’t really matter in the enterprise • It’s easy, we don’t need any FAQs/documentation • It’s obvious, we don’t need user testing Process and Resources: • Our roadmaps will remain accurate for more than a month • No news from < cross-functional team > is good news • Doubling the team size will double the output • Product complexity scales linearly with number of personas serviced • Developers disproportionately lack empathy • It is “all about execution” Sales: • Sales understands how to sell the new feature • We understand how to sell the new feature • Sales doesn’t know what the customer wants Marketplace and Competition: • We know who our competitors will be in one year Source: John Cutler Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 30 >>> Click HERE for more #ProdMgmt biases
  • 31. Attain emotional distance In building products, consider these 1. Anthropomorphism 2. Negativity bias 3. Loss aversion 4. Reciprocity 5. Peak-end effect 6. Cognitive dissonance 7. Goal gradient effect 8. Social proof Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
  • 32. Attain emotional distance In building products, consider these Cognitive Bias Description Implementation Anthropomorphism We like things to be consistent and human UX and Design Principles Negativity bias Greater recall of negative experiences 5:1 Positive to Negative trade-offs Loss aversion FOMO is 1.5-2.5x than gains Freebie lost after expiration. 30-day trials. Reciprocity People feel indebted for small gifts Useful functionality or unexpected UX delight Peak-end effect When forming memories, bias pro-peak and end Get the user to a-ha moment ASAP Cognitive dissonance Stress when belief and action mismatch Notify user when preferences attained Goal gradient effect The closer to the goal, the more effort put in Show progress to milestone Social proof When in doubt, follow the crowd Testimonials, reviews, ratings, endorsements Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
  • 33. Attain emotional distance Empathize First Brené Brown - The Power of Empathy (2:53) David Wallace – This is Water (9:22) Sheena Iyengar: The art of choosing (24:08) Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 33
  • 34. Attain emotional distance Buyer / User Personas Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 34
  • 35. Attain emotional distance Buyer’s Journey Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 35
  • 36. Attain emotional distance Check the facts Example: Performance Dashboards Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 36
  • 37. Prepare for success (or failure) • Fallback positions • Contingencies • Entry and exit strategies • Learning from failure • User onboarding The First 90 Days: Proven Strategies for Getting Up to Speed Faster and Smarter by Michael D. Watkins Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
  • 38. Pursue a process The higher… • the stakes • the length of the decision • the number of people involved … the more you need a process to decide Ask HOW to understand: - criteria - sequence of steps - define responsibilities -duration Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 38
  • 39. Pursue a process (cted.) It doesn’t have to be like this… Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 39
  • 40. Pursue a process (cted.) In general: the simpler, the better TIP: For simple yet ingenuous solutions, establish: 1. triggers 2. rules of engagement 3. team operating agreement Process ensures transparency and alignment with everyone involved Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 40 SAMPLE: Team Operating Agreement results in a Product Team
  • 41. Pursue a process - example Sales qualification process • Budget • Authority • Need • Timeline Marketing funnel Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 41
  • 42. Pursue a process - example Product Management frameworks Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 42
  • 43. Pursue a process - example Lean Startup framework Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 43
  • 44. Pursue a process - example Design Principles • Apple’s Human Interface Guidelines • Google’s Material Design Guidelines • IDEO’s Human-Centered Design Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
  • 45. Pursue a process – Venture Capitalist “I have struggled with the sell decisions over the course of my career. I have held on way too long and watched a stock literally go all the way to zero without selling it (ouch). And I have made the even worse decision of selling too soon and watching a stock go up 3-5x from where I sold it. So where I have landed on selling (decisions) is to make it formulaic and systematic. We also let the people know that is our policy so they are not surprised by it. It takes the emotion out of the decision and it works better for us.” @FredWilson Source: http://avc.com/2016/10/selling/ Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
  • 46. Recap: our journey great decisions, today poor decisions great decisions Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 2
  • 47. Recap: 5 tips for Optimal Product Decisions Widen your options Reality-test your assumptions Attain emotional distance Prepare for success (or failure) Pursue a process Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 47
  • 48. Recap: 5 tips for Optimal Product Decisions Widen your options • Focus on creating alternatives • Avoid a narrow frame Reality-test your assumptions • Develop early warning systems • Validated learning in MVPs • Prototype early Attain emotional distance • Challenge your own biases • Influence others • Empathize with customer first • Check the facts • Understand competition Prepare for success (or failure) • Fallback positions • Contingencies • Entry and exit strategies • Learning from failure Pursue a process + BONUS Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 48
  • 49. 5 tips for Optimal Product Decisions options validate implicationschallenge sustainability Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 49
  • 50. Thank You Andre Piazza @AndreAtDell http://linkd.in/andrepiazza @AndreAtDell Linkedin.com/in/AndrePiazza "The energy of a Sales maker, the brains of an Engineer" Andre Piazza Slideshare.net/Apiazza
  • 51. Case Study: Agile adoption Reality-Test / Prepare for Success, Failure CONDITIONS FAVORABLE UNFAVORABLE Market Environment Customer preferences and solution options change frequently. Market conditions are stable and predictable. Customer Involvement Close collaboration and rapid feedback are feasible. Customers know better what they want as the process progresses. Requirements are clear at the outset and will remain stable. Customers are unavailable for constant collaboration. Innovation Type Problems are complex, solutions are unknown, and the scope isn’t clearly defined. Product specifications may change. Creative breakthroughs and time to market are important. Cross-functional collaboration is vital. Similar work has been done before, and innovators believe the solutions are clear. Detailed specifications and work plans can be forecast with confidence and should be adhered to. Problems can be solved sequentially in functional silos. Modularity of Work Incremental developments have value, and customers can use them. Work can be broken into parts and conducted in rapid, iterative cycles. Late changes are manageable. Customers cannot start testing parts of the product until everything is complete. Late changes are expensive or impossible. Impact of Interim Mistakes They provide valuable learning. They may be catastrophic. SOURCE BAIN & COMPANY FROM “EMBRACING AGILE,” MAY 2016 https://hbr.org/2016/05/embracing-agile © HBR.ORG Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 51
  • 52. Case Study: Agile adoption Widen Options / Prepare for Success / Pursue a Process SCRUM KANBAN LEAN DEVELOPMENT Guiding Principles Empower creative, cross-functional teams Visualize workflows and limit work in process Eliminate waste from the system as a whole Favorable Conditions for Adoption Creative cultures with high levels of trust and collaboration, or Radical innovation teams that want to change their working environment Process-oriented cultures that prefer evolutionary improvements with few prescribed practices Process-oriented cultures that prefer evolutionary improvements with overarching values but no prescribed practices Approach to Cultural Change Quickly adopt minimally prescribed practices, even if they differ substantially from those in the rest of the organization Master prescribed practices and then adapt them through experimentation Respect current structures and processes Increase visibility into workflows Encourage gradual, collaborative changes Respect current structures and processes Stress agile values throughout the organization while minimizing organizational resistance Advantages Facilitates radical breakthroughs while (unlike skunkworks) retaining the benefits of operating as part of the parent organization Delivers the most valuable innovations earliest Rapidly increases team happiness Builds general management skills Avoids clashes with the parent organization’s culture Maximizes the contributions of team members through flexible team structures and work cycles Facilitates rapid responses to urgent issues through flexible work cycles Optimizes the system as a whole and engages the entire organization Provides the ultimate flexibility in customizing work practices Challenges Leaders may struggle to prioritize initiatives and relinquish control to self- managing teams New matrix-management skills are required to coordinate dozens or hundreds of multi-disciplinary teams Fixed iteration times may not be suitable for some problems (especially those that arise on a daily basis) Some team members may be underutilized in certain sprint cycles Practitioners must figure out how best to apply most agile values and principles Wide variation in practices can complicate the prioritization of initiatives and coordination among teams When initiatives don’t succeed, it can be hard to determine whether teams selected the wrong tools or used the right tools in the wrong ways Novices trying to change behaviors may find the lack of prescriptive methodologies frustrating Evolutionary improvements can make radical breakthroughs less likely and major improvements less rapid Leaders need to make the grind of continuously eliminating waste feel inspirational and fun SOURCE DARRELL K. RIGBY, JEFF SUTHERLAND, AND HIROTAKA TAKEUCHI FROM “EMBRACING AGILE,” APRIL 2016 https://hbr.org/2016/05/embracing-agile © HBR.ORG Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 52
  • 53. BONUS Convenience: enemy of greatness, friend of mediocrity CONVENIENCE has multiple aspects: 1. ignorance 2. (bad) habit 3. immediate availability 3. need of consensus 4. forcing compromise 5. comfort 6. passivity TIPS: • challenge yourself • embrace creative tension • seek out emotional labor • do the hard part first Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 53
  • 54. BONUS The Paradox of Convenience CONVENIENCE has the potential to skew decisions toward poor. Nonetheless, as Product Managers, an incredible way of creating value and improving satisfaction is delivering convenience to users. TIP: be aware of convenience when making your own decisions AND learn to deliver convenience all day long. Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 54
  • 55. Bibliography Decisive – How to make better choices in life and work by Chip & Dan Heath BUYER PERSONAS by Adele Revella Embracing Agile by Darrell K. RigbyJeff SutherlandHirotaka Takeuchi Enchantment by Guy Kawasaki Optimal Product Decisions: Letting the Genie out of the Bottle @AndreAtDell 55