Core Product Strategy Concepts

Real Product Management for Maximum Impact Part 1 - Core Product Strategy Concepts
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Transcript

Okay, let's start with product basics. In product basics, we'll we'll cover what products are, what they do, who the product manager is how Product Manager manages the products and what distinguishes good product manager from the bad product manager. Let's start with the definition of a product product is actually a pretty complex concept and as I promised, I will try to simplify it, but in a complex way, the product can be described as an intersection of so many different things that are intersection of technology, business constraints, design, utilities, and like everything you can think of. So, that is not simple. How do we simplify like my best way to simplify it is for any definition of the product, you can imagine the product always need to solve some kind of problem for the customer. So if if it solves a problem for the customer, then it's a product if it does not then probably it may not be a product it may be something else.

The key person behind the product and the key person behind making product successful is a product manager. So who's the product manager and what what this product manager role in the company so what is Product Manager responsible for simplest way of thinking of programming is a CEO of a product just like CEO of a company drives company success the product manager is the ultimately responsible person for any success of the product. Even when there is lots of factors which are not in his direct control or in or in her direct control. Product Manager is the person who needs to be really strong in a wide like in a broad set of skills like the product manager needs to be super sharp needs to be able to manage process, product and process in a quantitative fashion but also needs to be able to go and talk to different functions in the organization.

For example, it could be accounting, customer support, or sales. Each of those relationships are critically critically important for product management to develop and to maintain. Now let's try to talk about what is good product manager what is bad drug manager and what is what is in general success for the product manager this this topic is pretty mysterious and complex and I honestly have one good recommendation for you, you should just go read the article by Ben Horvitz on good product manager versus bedbug manager and I guess it's going to explain the difference way better than I can do. But let me instead focus on the key key aspects and key features or key traits of what Ben Horowitz calls a good product manager. Those are Support Manager does have to be CEO of a product, you need to be responsible, you need to be driving the product forward, you are the lead.

Yeah, so what differentiates a good product manager from a bad product manager the best way I could explain it, this just basically send you to the article by Ben Horvitz on good product manager, bad product manager, and instead, I will give you a short summary of this article. So basically, the good product manager needs to be a CEO of a product. What does it mean, you need to be responsible for every single aspect of success of the product, you need to clearly communicate the goals and the vision for the product you need to communicate, you need to take care of your customers and develop customer relationships. And you need to be able to clearly communicate to everyone in your company about every single aspect related to your product. Now that we've covered all the product basics, such as what products are who Product Manager is and what differentiates a good product manager from a bad product manager, we're ready to move on.

Definition of success. Let's go

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