Escaping the Build Trap
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The document discusses how product managers can escape the "build trap" by choosing the right processes, having a clear strategy, and creating a learning-focused culture. It emphasizes using processes like market research and experimentation to reduce uncertainty. A good strategy provides alignment through a vision and objectives. The culture should reward learning from failures and customer interactions. Product managers can apply these principles by selecting processes tailored to problems, setting goals aligned with strategy, and sharing lessons learned.
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Escaping the Build Trap
- 1. @lissijean Escaping The Build Trap Melissa Perri @lissijean Produx Labs #mtpcon
- 5. @lissijean
- 7. @lissijean
- 11. @lissijean + =
- 12. @lissijean Customers Businesses problems wants needs products or services $$$$
- 13. @lissijean Solving big problems for customers creates big value for businesses. @lissijean
- 14. @lissijean On Wednesdays we wear pink. @lissijean
- 18. @lissijean Scrum tells you how to build, not what to build.
- 19. @lissijean + =
- 20. @lissijean We keep adding to the backlog and never take away.
- 22. @lissijean What is all this shit? @lissijean
- 24. @lissijean Creating new products is full of uncertainty. @lissijean
- 25. @lissijean PROCESS To escape the Build Trap, we need to reduce the risk of failure in the market by using the right processes at the right time.
- 26. @lissijean Start with the goal @lissijean
- 27. @lissijean Uncertainty Research & Analysis Problem Validation Solution Validation Solution Optimization Product Management is about choosing the right processes at the right time.
- 28. @lissijean If you are uncertain about the customer problem… Use Market Research &/or Data to inform your direction and then talk to your customers. @lissijean
- 29. @lissijean If you are uncertain about how to solve the problem… Experiment to validate that you understand and can solve the problem. @lissijean
- 30. @lissijean If you are uncertain about what the best solution is… Test a few options and then decide. @lissijean
- 31. @lissijean If you are uncertain about adoption in the market… Build the first version and get it out to customers. @lissijean
- 32. @lissijean Uncertainty decreases every step of the way. 0 25 50 75 100 Analysis Problem Validation Solution Validation Solution Optmization
- 33. @lissijean Ingredients and recipes shipped to your door. @lissijean
- 34. @lissijean “The price is too high, we should lower it.” “The photos are not enticing.” “We need to rebrand the sign up funnel to the new design.” “We should be offering sign up gifts.” “They cannot try it for free!”
- 36. @lissijean Obstacle: We don’t understand why people are leaving. @lissijean
- 37. @lissijean Learned: The top reasons people are leaving. 0% 10% 20% 30% 40% Reason Can't Find Menu What's in the box? The price is too high I want more plan options I am vegan
- 41. @lissijean Product Managers choose the right processes for the right situations.
- 44. @lissijean Teams are all in motion but not going anywhere. @lissijean
- 46. @lissijean STRATEGY To escape the Build Trap, drive high alignment through a good strategy framework.
- 47. @lissijean STRATEGY “Strategy is a deployable decision making framework, enabling action to achieve desired outcomes, constrained by current capabilities, coherently aligned to the existing context” - Stephen Bungay @lissijean
- 49. @lissijean Defines the company’s business, it’s objectives, and how it plans to reach those objectives. MISSION STATEMENT
- 50. @lissijean VISION STATEMENT A defined direction for the company or product on what it wants to become long term.
- 51. @lissijean “To be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online.” VISION
- 52. @lissijean “We strive to offer our customers the lowest possible prices, the best available selection, and the utmost convenience.” MISSION
- 53. @lissijean Echo Makes it easier to buy things you never meant to. @lissijean
- 54. @lissijean “Be stubborn on vision, flexible on details.” -Jeff Bezos @lissijean
- 55. @lissijean Feature Product Business Line Corporate How What & Why How How What & Why What & Why What & Why
- 56. @lissijean Product leaders help provide clear direction and vision for their teams to be effective. @lissijean
- 57. @lissijean “Delight customers through hard to copy, margin-enhancing ways. Optimize retention and cost.” -VP of Product 2005 - 2010, Gibson Biddle
- 58. @lissijean PERSONALIZATION We want to make discovering and ordering an appealing DVD easier and faster for users through personalization. We know that we retain users at a higher rate the faster they order their next DVD and enjoy it. At the moment, we have no way of knowing what content users have enjoyed or not, so we cannot recommend the right movies to them.
- 59. @lissijean PERSONALIZATION We want to make discovering and ordering an appealing DVD easier and faster for users through personalization. We know that we retain users at a higher rate the faster they order their next DVD and enjoy it. At the moment, we have no way of knowing what content users have enjoyed or not, so we cannot recommend the right movies to them.
- 60. @lissijean PERSONALIZATION We want to make discovering and ordering an appealing DVD easier and faster for users through personalization. We know that we retain users at a higher rate the faster they order their next DVD and enjoy it. At the moment, we have no way of knowing what content users have enjoyed or not, so we cannot recommend the right movies to them.
- 61. @lissijean PERSONALIZATION We want to make discovering and ordering an appealing DVD easier and faster for users through personalization. We know that we retain users at a higher rate the faster they order their next DVD and enjoy it. At the moment, we have no way of knowing what content users have enjoyed or not, so we cannot recommend the right things to them.
- 62. @lissijean
- 67. @lissijean Fear legal and compliance when experimenting.
- 69. @lissijean Too busy to try something new.
- 71. @lissijean CULTURE To escape the Build Trap, create a customer-centric organization that rewards learning and reaching outcomes.
- 72. @lissijean We all need to be able to fail sometimes. @lissijean
- 73. @lissijean WHAT DO YOU MEAN THIS WASN’T VALIDATED? @lissijean
- 74. @lissijean “The greatest successes come from having the freedom to fail.” -Mark Zuckerberg @lissijean
- 75. @lissijean We need space and time to learn and reduce uncertainty. @lissijean
- 77. @lissijean “Our highest priority is to satisfy the customer through early and continuous delivery of valuable software.”“
- 80. @lissijean PROCESS Use the right processes at the right time, and communicate why with the rest of the company.
- 81. @lissijean STRATEGY Create a strategy for your part of the product, and work with your manager to set goals.
- 82. @lissijean CULTURE Talk about what you’ve learned as often as what you’ve built.
- 84. @lissijean Melissa Perri melissa@produxlabs.co m produxlabs.com melissaperri.com @lissijean Learn great Product Management online. Take 15% off with MTPCON. productinstitute.com Coming Late 2017! Melissa Perri melissa@produxlabs.com melissaperri.com produxlabs.com twitter: @lissijean