1. Introduction to Product Management
4. Develop & Quality
7. Retire / change
8. Case Study
WHAT: a company or team generates new ideas and evaluates and priorities them to
determine whether to move forward with them and spend time and resource.
articulate the customers' needs and the solvable problems in such a way that the potential
solution to the problem can be accurately validated with customers.
What make up a good idea
Case 0-1: Define your People
1. Identify the People Problem you
are trying to solve.
2. Define an initial target audience.
3. Describe what people will do
differently if your product is
Medium：The 4 Stages of 0->1 Products
Some real gap
Five box positioning model
1. Identify the segment of the
market that needs your product.
2. Know current belief and action
3. Image the desired belief and
4. The product brings value
proposition, the marketing brins
reasons to believe.
THE FIVE BOX POSITIONING MODEL
Users vs. Customers
Pay Or Use
● Sometimes, the people who pay for your product (customers) are not the same people that use it
Price Or Usability
● they will give different feedback from different facet of the product or service. i.e. customers focus on
price while users care technical issues.
How to generate a new idea
The best way: Understand your users
● “If you look at the way successful founders have had their ideas, it's generally the result of some
external stimulus hitting a prepared mind.”--PAUL GRAHAM
● quickly become your users, if not consult your users,
● make sure you cover all persona roles, for a online shopping platform there are seller, buyer, selling
service provider, logistics provider, etc.
● Discover what they really want，develop personas.
How to get startup ideas
In 1996, Graham and Robert Morris founded Viaweb, the
first application service provider (ASP). Viaweb's software,
written mostly in Common Lisp, allowed users to make
their own Internet stores. In the summer of 1998 Viaweb
was sold to Yahoo! for 455,000 shares of Yahoo! stock,
valued at $49.6 million.
After the acquisition, the product
became Yahoo! Store.
Tool 1: Brainstorming
WHAT: a group creativity technique by which efforts are made to find a conclusion for a
specific problem by gathering a list of ideas spontaneously contributed by its members.
HOW TO PLAY:
● Generate notes
● Grouping ideas
Gamestorming: 3-12-3 Brainstorm
Tool 2: Mind mapping
WHAT: a diagram used to visually
● It works by starting with one central
concept and then branching out.
● It is very precise presentation to show
both top-down and side-by-side logical
● An Online Tool: Baidu Mindmap
Wikipedia: Mind Map
Steps to do research
1. Decide your research objective
2. Clarify what questions you need to answer to satisfy the research
3. Choose the techniques
a. Secondary research and Primary research
b. Qualitative and Quantitative research
4. Design-conduct research
5. Collect, analyze and visualize data
Product Management for dummies
Research Purpose for Product
Define your competitive edge by
finding different ways of being
unique in the marketplace. By
differentiating your product,
service, personnel or brand, you
can establish a unique position
in your market.
The question is, how do you
know if your idea is worth
investing in? And, if it is worthy
of investment, how much?
ROI is a performance measure
used to evaluate the efficiency of
1.Market Scale landscape
Sizing the market is a necessary
task for business and marketing
planning, and budgeting for all
startups, especially those that
seek third-party financing such
as venture capital (VC).
Market Scale landscape
1. Define your target customer
2. Estimate the number of target customers
3. Determine your penetration rate
4. Calculate the potential market size: Volume and value
5. Apply the market-size data
How to estimate market size: Business and marketing planning for startups
1. Find Benchmarks
2. Know what are their historical achievements and positioning
3. Be first in the market
4. Leverage your expertise: Establish leadership
5. Focus your market expertise
6. Make your products stand out as new and improved
7. Work constantly to maintain your competitive edge.
Defining your competitive edge: Product positioning in your target market
Research Output: MRD
WHAT: A market requirements document (MRD) in project management and systems
engineering, is a document that expresses the customer's wants and needs for the
product or service.
The MRD has historically been used in waterfall and phase-gate development processes rather than Agile. It is designed to capture a deep description
of the market needs that customers have. In Agile product development, a short Market Requirements Document is an effective way to capture and
understand the market needs before diving into writing user stories and cranking out features in the product backlog as fast as possible.
What is included:
● Input：Personas，Problem scenarios or problem statements，Customer journey/workflow
● Output：Market needs statements
Profitably address the customer's problem, there are 3 common calculate formula：
1. Net Present Value (NPV)
2. Internal Rate of Return (IRR)
You should also know this：How to Calculate the Value of Your Early-Stage Startup
Analyze The ROI Of Your Innovation Idea, Step By Step
The advantage: MVP
WHAT: A minimum viable product (MVP) is a product with just enough features to satisfy
early customers, and to provide feedback for future product development.
● Validate and testify your idea
● Collect feedback from seed users
● Brand building very quickly
Present Technique 1:The Business Model Canvas
WHAT: Key partners, Key
activities, Key resources, Value
Chanels, Customer segment, Cost
structure, Revenue streams.
Example of Skype
Present Technique 2: Pitch Deck
● Prioritize the ideas
● Aim at your users
● Define a vision
● Pitch Deck of Airbnb
The optional Output: BRD
WHAT: A business requirements document (BRD) details the business solution for
a project including the documentation of customer needs and expectations.
FOR: Business requirements are the critical activities of an enterprise that must be
performed to meet the organizational objective(s) while remaining solution
WRITING A WINNING SIX SIGMA PROJECT BUSINESS REQUIREMENTS DOCUMENT