Mental Models for Product Managers
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Having a good set of mental models to work from – “ways of thinking” – will help you make better decisions, prioritize better, and communicate better. In this presentation, I focus on some mental models that are particularly valuable for product managers. They'll help you with making decisions, prioritizing, and communicating. The better you are at decisions, prioritization, and communication, the better and more effective you'll be as a product manager.
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Mental Models for Product Managers
- 1. Mental Models for Product Managers Nils Davis @nilsie http://pmhardcore.com
- 2. Huh? Mental Model = Any concept that helps explain, analyze, or navigate the world
- 3. Toolbox “80 or 90 important models will carry about 90% of the freight in making you a worldly-wise person.” To the man with only a hammer, every problem looks like a nail.
- 4. 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.”
- 5. Why Mental Models for PMs?
- 6. Value Proposition For _____ (market/cust), X is a _____ (category) with _____, _____ (features). Unlike competitors, it has ____ (differentiators)
- 7. Categories Of Mental Models • Templates • Categorization • Heuristics • Cognitive Laws
- 8. Templates • Value proposition • Three Laws of Marketing Physics • Overt Benefit • Dramatic Difference • Real Reason To Believe • User story template • V.A.L.U.A.B.L.E. template
- 10. Categorization – Value vs Cost 2x2
- 11. Categorization – Gartner Magic Quadrant
- 12. Categorization – TriKro’s Lean Startup Experiments
- 13. Categorization – BCG Matrix – It’s Non-linear!
- 14. 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
- 15. Not Covered • Cognitive laws • Anti-models • Frameworks • Badass • Kano • Cooper’s Interaction Design
- 16. 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 • Ideas from different domains
- 17. 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
- 18. • What questions do you have?
Editor's Notes
- Lots of mental models Kano categorization