Benchmarks of a Good Product Manager

 ISPMA Post: https://www.linkedin.com/posts/ispma-india_greg-coticchia-benchmarks-of-good-product-activity-6716600908148559873-lNDh

In his book-'Only the Paranoid Survive', the former Intel CEO, Andy Grove mentions this anecdote:

Andy Grove and Robert Noyce were at the office late one night discussing how to deal with Japanese firm's thread to their D-RAM business and they were talking to each other.
- Andy says to Robert: Wow we got a problem!
- Robert says we sure do.
- Andy asks- If Board says we would get the new guys to solve this problem, what would the new guys do.
- Robert says Oh that’s easy, they will get us out of the D-RAM business.
- So Andy Grove says, Yes why don't we do that before these other guys get in.
- What happened next is history. Intel shunned the D-RAM business and got into microprocessor business, leading to one of the most outstanding business turnarounds.

Andy’s question about “what would new guys do” is quite profound because it reflects that Andy was more willing to be a beginner again. Embracing Beginner's mindset is one of the great skills to possess in #ProductManagement

In this insightful video (~2 min), @ Greg Coticchia, shares his insights on the benchmarks of good #productmanagers
1. Customer experience
2. Market orientation
3. Business acumen
4. Soft skills
5. Technical fundamentals

What would you add to this list?

Building Products for India's Context

 ISPMA Post: https://www.linkedin.com/posts/ispma-india_mvp-productmanagement-digitaltransformation-activity-6711139311548534784-wBwv

In the book- 'Disrupt Yourself’, there is an interesting story of how 'Intuit Fasal', an agriculture solution created for Indian Farmers came to life.

One of Intuit's product team was given a mandate to change the life of 1.2 billion Indians. As the team started chatting with farmers, they figured out that farmers had a challenge of access to information. Due to this, farmers were selling their produce to farm market (mandi) owners at whatever price that was quoted.

The team started small and adopted a low cost, highly iterative approach by manually seeking the prices and texting it to the farmers on their mobile. They eventually came with up an easy-to-use, text message-based platform that uses complex matching algorithms to help the farmers get the best prices.

This story tells us that to win in local Indian market, one needs to accurately define the problem, embrace constraints, use #MVP approach to test the solution.

Here, in this video, Parag Patankar suggests compelling thoughts to build India focused products. Two of the ideas:
1. Exposure to the market
2. Formal ecosystem for the talent pool

How are you contributing to India's product aspirations as a product managers ?

Time Management for Product Managers

 ISPMA Post: https://www.linkedin.com/posts/ispma-india_productmanagement-productmanagers-timemanagement-activity-6703566629709721601-3x-w

Mark Twain once said "If the first thing you do each morning is to eat a live frog, you can go through the day with satisfaction of knowing that that is probably the worst thing that is going to happen to you all day long."

So "Frog" here is really a metaphor for the task you find ugly but it needs to be done.

Brain Tracy's book- Eat that Frog based on this metaphor suggest 2 ageless rules for time management:
#1 If you have to eat two frogs, eat the ugly one first.
#2 If you have to eat a live frog at all, it doesnít pay to sit and look at it for very long.

Time Management is important for all the professionals, more so for Product Managers because of a dynamic role and a wide span of interaction that spans all the key business functions.

Hari Babu Krishnan, Senior Product Manager, SAP Ariba has an interesting take on time management where he applies the 80:20 principle as follows

1. Spend 20% of the time to reflect back as a team.
2. Use the remaining 80% of the time for course correction and creating the right product.

Check-out this short (92 second) video.

How do you effectively manage time as a product manager?

Distinguishing Traits of a Product Manager

 ISPMA LinkedIn Post: https://www.linkedin.com/posts/ispma-india_productmanagers-productmanagement-pmskills-activity-6691160793968451584-kVuA

One of the early seminal work around the #productmanagers skills was an essay by Ben Horowitz, and it was titled- "Good Product Manager/Bad Product Manager". (Can be read at: https://lnkd.in/gMJ9axN)

A lot of the aspects around PM skills that Ben shared are still applicable today like:

Good product managers:
- know the market, the product, the product line and the competition extremely well
- don't get all of their time sucked up by the various organizations that must work together to deliver right product right time.
- create leveragable collateral, FAQs, presentations, white papers.
- think about the story they want written by the press.
- err on the side of clarity vs. explaining the obvious.

While the fundamentals around PM job haven't changed much but with a lot of advancements happening in technology, business models and overall business landscape, the new skills have emerged.

In this video, Lokesha Channaveeraiah from Shell shares his perspectives on the personality traits needed by the PMs-

1. Good listening skills.
2. Excellent business acumen.
3. Transparency.
4. Collaboration and teamwork.

What do you think are some of the important traits for a Product Manager ? Please share.

Most Challenging Aspects of Product Management

 ISPMA post: https://www.linkedin.com/posts/ispma-india_productmanagement-productmanager-productstrategy-activity-6686810811081609217-yTWw

In the book "The One Thing", the authors narrate a story about Steve Jobs, excerpt below:

"No one knew how to go small better than Steve Jobs. He was famously as proud of the products he didn't pursue as he was of the transformative products Apple created. In the two years after his return in 1999, he took the company from 350 products to ten. That's 340 nos, not counting anything else during that period.”

In the product school of that Jobs represented, Innovation was all about saying 'No' often and always be in the edit mode till something desirable, viable and feasible emerged. So, courage to say 'No' is certainly one of the challenges that Product Managers face.

What is the most challenging aspect of Product Management, according to you ?

Here from Harvinder Singh Narula

1. Draw a Clear Product Strategy
2. Understand "Whom", "Why", "What", "How: part of your product.
3. Prioritizing your plans. Determine where you want to start.

Please share your thoughts.

Critical Success Factors for a SaaS Product

I have been volunteering with ISPMA for a while now. Among the things i work with awesome team at ISPMA on, are the weekly product management posts. These gets posted at the ISPMA LinkedIn channel. I enjoy writing these and been grateful for the opportunity to be able to do so.

I will be resharing some of these posts in my channel here:

ISPMA post: https://www.linkedin.com/posts/ispma-india_saas-productmanagement-productmanager-activity-6689349966978260992-1agL

Susan Wojcicki (CEO) and Cristos Goodrow (VP Engineering) in the book 'Measure What Matters' share an interesting anecdote-

By 2011, YouTube's way of measuring success needed some work. Employees had created different versions of the OKRs but the top-level objectives weren't as crystal clear. A lot of thinking then was influenced bythe model prevalent with the Google search i.e. measuring clicks and views.

It took some time for YouTube leadership to realize that clicks and views aren't as effective measures for videos as is the watch time. As Satya Nadella once said- "the true scarce commdity is increasingly is human attention."

Given the legacy (Google Search), it took time for Susan and Cristos to drive this change but eventully they convinced everyone and embarked upon multi-year goal of 'Reach 1 billion hours of watch time per day by..."

Applicable generically, and more specifically for SaaS products, how we articulate and measure success is paramount ?

What you do think are the critical success factors of a SaaS product ?

From B2B enterprise software angle we have Sindhu Gangadharan, MD & SVP, SAP Labs talking about the critical success factors of a SaaS product:

1. Customer acquisition & retention cost

2. Time taken to customer value

3. Building the required agility 

4. Leveraging the technology 

What are your views?

My Podcast on Innovation and Intrapreneurship

 Source (of below content): https://www.linkedin.com/feed/update/urn:li:activity:6714022215941271552/

Highly motivated morning walk or insightful evening drive back home from your office, just plug in your headphones & listen to this interesting ISPMA India Podcast interview with Anuj Magazine on "Innovation & Intrapreneurship" in Product management hosted by Sireesha Gangavarapu

Anuj shares his experiences & proven practices in managing innovation in large scale organisations. He also brings in great insights on the intrapreneurship & how to achieve the desired outcomes overcoming the constraints.

Hope you enjoy!

https://lnkd.in/gNssR9G

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#productmanagement #innovationmanagement #innovationstrategy #strategicmanagement #intrapreneurship #productmanagers #techstartup #softwareproduct #softwarecompanies #software #it #podcast

Related post: https://www.linkedin.com/posts/sireesha-gangavarapu_ispma-india-podcast-innovation-intrepreneurship-activity-6715550507496275968-TSH-