Federico Ortega illustrates key branding concepts for startups and shares his experiences in building great brands. Alex encourages deep thought about what your product is and challenges entrepreneurs to consider their overall mission before attempting to forge their unique brand. This content was produced for the 2013 Medellin Summer semester of the Founder Institute by Founder Institute mentor Federico Ortega, founder of VivaReal and experienced entrepreneur. Follow him on Twitter to learn more: https://twitter.com/orteganieto

1. Product Management @
VivaReal
The Founder Institute – Medellín
July 2013

2. Brief on VivaReal

3. Why Product Management?
• VivaReal had grown from holding a legacy Web App:
– Release of significant refactors to the Web app (BBJS +
API)
– Release of iPad & iPhone Apps
– Repurpose of the “Listing Alerts”
– Updates to PUBLISHER oriented products
• Feeds
• Reports
• Commercial integraction (BI + Salesforce)
• “Single minded focus” should back product decisions

4. Apps have a “UX of their own”

5. Pointers on Product Management
• Product Management needs its space
• Project Mngmnt is not the same as Product Mngmnt
• Think Why, Who and How - Keep specs simple
• You are NOT the single source of product definitions
• Understanding Users is KEY to product success
• Your goals need visible & relevant KPIs

6. Prod Mngrs need their space
• The key roles of product managers are:
– Assessign product oportunities
– Defining the product to be built
– Understanding users better than anyone else
• These roles are NOT the roles of:
– UX Leads (who come up with useful and productive navs)
– Project Managers (who set controls to guarantee releases)
– Engineering (who actually build the product)
– Platform Ops (who keep the sites running)
– Product Marketing (who tell the world about the product)

7. Project is NOT Product Mngment
• The Product Manager should focus on the discovery
and success of the “features” released while the…
• Project Manager should focus on releasing the
specified products
• If the ROLE is MIXED,
– Release management will take up valuable time off
product specs and tracking
– Product definition will take a secondary role
• Releases are now responsibility of the DEV Team

8. Key to success is Prioritizing!
• Assessing opportunities is KEY:
– Is the COST worth the EFFORT or the BENEFITS?
– Is it the RIGHT TIME to move forward with the initiative?
– Do you understand what you’re trying to solve?
• Writing long specs is not:
– Going to help you secure the project’s release
– Ease the team’s production during the build
• Document if it uncovers risks, helps trigger
conversations or sets baselines for followup

9. You are NOT a GURU
“Never tell people how to do things.
Tell them what to do, and they will
surprise you with their ingenuity.”
General George S. Patton, Jr.

10. How are you tracking?
• Sources of conversion tracking may include:
• Conversions (users) are the bread and butter of PMs!

11. Are your KPIs RELEVANT?
Description Basis for Comparison
Lead per Type How many leads are being
generated (eLeads & Phone)
Week over Week
Leads / Traffic What is the conversion of traffic
into leads
Daily
Total Daily
Visits
Popularity on a regional and
national basis
Daily / Monthly
Cost per Lead On a “per client” basis, how
much does a lead cost?
Competitor cost per lead rates
Traffic from 3rd
Party Sources
How much traffic do third party
sites generate for us
Weekly

12. Questions or Comments?
fortega@vivareal.com
@orteganieto