Act Like an Owner, Challenge Like a VC by former CPO, Tripadvisor

1. Act Like an Owner,
Challenge Like a VC
by former CPO, Tripadvisor
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Act Like an
Owner,
Challenge
Like a VC
by former
CPO,
Tripadvisor

5. 5
Act like an owner,
challenge like a VC
Fabrice des Mazery, Former CPO @ TripAdvisor

6. 6
Profitability

7. 7
“My stakeholders
don’t have the
product mindset“

8. 8
Have you read
Inspired?
Produxplaining

9. 9
Get skin in the game

10. 10
Are you sure?

11. 11
No, not him

12. 12
him

13. Double impact

14. 14
Double impact law
The reason a Product Org
exists is to generate
ROI for the user
AND for the company.

15. We can’t nor should be
user-centric

16. 16
We must be
co-responsible
of the economic success
of our products.

17. 17
How to act like
owners & investors?

18. By following:
The
investment
principle
The
capping
principle
The
portfolio
principle
18

19. 1. The
investment
principle
19

20. Product shifts technology
from a center of costs
to a center of profit
20

21. Turn the time of a product team
1 million bucks a year
into code
into features
into impact
21

22. into the right ROI
Turn the time of a product team
1 million bucks a year
22

23. 23
from clients to co-investors
Transform stakeholders

24. ➔ Input (pitches, not BPs)
➔ Access to customers
➔ Testing
➔ Go-to-market
➔ Co-responsibility of success AND failure
24

25. 2. The
capping
principle
25

26. capping = limiting the appetite
considering the ambition
26

27. capping applies to both
discovery and delivery
Ex: 2 weeks for discovery.
Then 4 weeks of delivery, based on what we know.
27

28. Viable
PM
Feasible
Tech lead
Desirable
PRD
The trio caps the investment in
unrisking the product equation
28

29. 3. The
portfolio
principle
29

30. Low ROI
potential
Low risk or
uncertainty
Example for a Restaurant product
High risk or
uncertainty
High ROI
potential
30

31. 20 to 25%
Low hanging fruits or Enablers
Product invests 80%, stakeholders invest 20%.
Ex:
- transactional emails rebranding.
- simplifying the customer review process.
High risk or
uncertainty
Low ROI
potential
High ROI
potential
Low risk or
uncertainty
Example for a Restaurant product

32. 20 to 25%
Product initiatives
Product invests 100%. Stakeholders can top-up to
boost the investment. Ex:
- capturing the intent (low to mid risk)
- building on community sense (mid to high
risk).
60 to 65%
Low ROI
potential
High risk or
uncertainty
High ROI
potential
Low risk or
uncertainty
Example for a Restaurant product

33. Bets
Exploration of new horizons. Ex:
- AR for menus & dishes.
- Crossing guests affinities.
10 to 15%
20 to 25%
60 to 65%
Low ROI
potential
High risk or
uncertainty
High ROI
potential
Low risk or
uncertainty
Example for a Restaurant product

34. market conditions & insights (dynamic allocation)
team / tribe
company or product stage
budget structure (ex: studio)
your own of level of risk tolerance
You portfolio may vary depending on:

35. - act like owners by taking responsibility
for the effective use of resources.
- challenge live VCs by seeking maximum
returns on their investments.
The
investment
principle
The
capping
principle
The
portfolio
principle
35
make Product teams & stakeholders:

36. Double impact

37. Fabrice des Mazery
Thank you!

38. 38
Investment based roadmap
Cone of uncertainty

39. 39
Example of TheFork - B2B
Experience Competitiveness
Success
Management
3 teams
= 6 cycles
= 3 million euros
3 pillars

40. 40
2. Check the interest of other countries
3. Get challenged by one of the 3 trios
4. Competitiveness Investment forum
1. Build a pitch
5. Define ambition (success) & appetite (1 cycle = €150K)

41. Product variable 1
Onboarding
efficiency
Product variable 3
Community
participation
Product variable 2
Engagement level
Product KPI
Ex: Adoption
Business KPI
Ex: LTV
Product variable X
xxx
% users doing this
major action
within x days
after sign-up.
% of users reaching
this level of weekly
engagement
% of users sharing
with the community
within xx days after…
Ex of a Product metric tree
Product variable 4
xxx

42. Problem
opportunity X
Problem
opportunity Y
Problem
opportunity Z
existing
solution
Solution
opportunity 1
Solution
opportunity 2
Problem discovery
Solution discovery
Solution design & build
Objective KR Variable Ambition
1
cycle
(6w)
Dual-track process @ TheFork

43. Problem
opportunity X
Problem
opportunity Y
Problem
opportunity Z
existing
solution
Solution
opportunity 1
Solution
opportunity 2
Problem discovery
Solution discovery
Solution design & build
Objective KR Variable Ambition
Iteration 1
Iteration 2
Impact
1
cycle
(6w)
Iteration 3
Dual-track process @ TheFork

44. Low ROI
potential
High ROI
potential
Forecasting using Confidence
10% discount
on ROI ambition
90% discount
50% discount

45. Low ROI
result
High ROI
result
Portfolio analysis with real ROI
Low risk
High risk or
uncertainty
Solution W
Solution X
Solution Z
Solution Y
Solution Y

46. Existing and new feature / products
Strategic fit and risk / competition fit
Effort (complexity, costs, time to impact…)
CAC - LTV
…
Other axis can be used:

47. Act Like an Owner,
Challenge Like a VC
by former CPO, Tripadvisor
productschool.com