Product Strategy Success Factors
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This presentation discusses four factors that help you make effective strategic decisions for your product: tools, process, people, and organisation.
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Product Strategy Success Factors
- 2. 2 © 2019 Pichler Consulting Limited Four Success Factors Tools Process People Organisation
- 3. Tools
- 4. 4 © 2019 Pichler Consulting Limited THE PRODUCT VISION BOARD Which market or market segment does the product address? Who are the target customers and users? What problem does the product solve? Which benefit does it provide? What product is it? What makes it stand out? How is the product going to benefit the company? What are its business targets? What is the product’s purpose? Which positive change should it bring about? Download at romanpichler.com Vision Target Group Needs Product Business Goals Is it feasible to develop the product?
- 5. 5 © 2019 Pichler Consulting Limited Business Strategy How will the company succeed? Product Vision and Strategy How will the product succeed? Product Roadmap How will the strategy be implemented? Business Model How will the product achieve its business goals? How will it be monetised? KPIs How will the product performance be measured? Portfolio Strategy How will the portfolio implement the business strategy? Product Backlog What are the desired UX and product functionality? A STRATEGY MAP
- 6. Process
- 7. 7 © 2019 Pichler Consulting Limited ProductIdea Product Discovery incl. strategizing Timeboxed Strategizing Continuous Strategizing Make time at least once per week to explore new ideas, assess product performance, analyse market trends, and carry out competitor research. Have regular collaborative product strategy reviews to adapt the overall strategy and product roadmap. Play a proactive game and avoid nasty surprises. Product Development
- 8. 8 © 2019 Pichler Consulting Limited Scrum Master/ Coach Development Team Stakeholder Product Person StakeholderStakeholder Leads Facilitates
- 9. People
- 10. 10 © 2019 Pichler Consulting Limited Transferrable Product Mgmt Skills Ability to methodically solve common product challenges Product- Specific Skills Expertise to make the right decision for a given product
- 11. 11 © 2019 Pichler Consulting Limited Strategic Skills Tactical Skills Leadership Skills User models and personas Product strategy incl. market research / validation and KPIs Product roadmapping Product life cycle management Business modelling & financial forecasting Portfolio management Decision-making & negotiationActive listening Conflict resolutionEmpathy Growth mindset
- 12. Organisation
- 13. 13 © 2019 Pichler Consulting Limited Responsible for product success and ensuring that a valid product strategy is available. Product Management Executive and Senior Management Responsible for business success and ensuring that an effective business strategy exists.
- 14. 14 © 2019 Pichler Consulting Limited Scrum MasterDevelopment Team Product Person Trust and Respect Product Leadership Process & People Leadership Design & Tech. Leadership • Process and method coaching • Collaboration catalyst • Organisational change • UX design • Development incl. architecture and Q&A • Self-organisation • Vision, product strategy and roadmap • Product backlog prioritisation • Stakeholder management • User research • Sprint goal selection • Product backlog refinement Shared Product Responsibilities
- 15. 15 © 2019 Pichler Consulting Limited Person in Charge of the Product Component Owner Feature Owner Feature Owner Product strategy leadership Product strategy contribution
- 16. You can find more information at: romanpichler.com Please send questions & feedback to: info@romanpichler.com Thank you for your attention!