Product Product Management OKR examples to grow This is where all the AARRR metrics (Acquisition, Activation, Retention, Referral, Revenue) come into place and where having well implemented analytics is crucial. We dont have product teams if theyre not necessary. So business strategy is done at the top level, its usually things like, how are we going to make money, one of the most common examples is go-to-market. There are all kinds of variations we can talk about. It's more important than knowing whether your app is HTML5 or native, or which version of PHP you're using on the server side. Marty Cagan. First of all, I should clarify, some companies are so huge, I think Google think Amazon, that each business unit, each division would have its own vision and strategy. Marty Cagan is the godfather of product management, and Inspired is its effective bible. ; Understand the competitive landscape, key trends in terms of technology, customer behaviours, and evolving patterns. The real issue is somebody whos say, grew up in a company that was feature teams, theyve been used to being handed roadmaps, and theyre being used to play in that cat herder role that so many people call. Now, thats because theyre working with the technology every single day. He does not present anything new but to me, it reinforces a lot of things that I wasnt very sure of before. leaving the product teams feeling excited to begin the hard work of making this vision a reality. And what I think is funny is that I mean, Ive criticised actually quite a bit, but one of the things Im criticised for is they say, Oh, you put so much work on a product manager. If you want to be a manager, you need to learn how to talk to other people, learn how to work together with them, and learn how to get them to do things. So business strategy, these are, first of all, one obvious difference is whos responsible for what business strategy is typically a C-suite decision. Sit back, grab a drink, and listen to some of the wisest words of wisdom in product. Marty Cagan identifies four big risks in product management: Value risk (whether customers will buy it or users will choose to use it) The difference between vision and strategy is analogous to the difference between good leadership and good management. So a real example is a company that experiments with a new mobile app, and they find that some things work remarkably better with the mobile app. Thats different from what a designer brings to the team. So you get a lot of you got a lot of, quote, product managers, Im really talking about a feature team where theyre not really product managers, but theyre like, wheres our vision, wheres our strategy, you dont need one, youre there to serve the business. How are they going to know if the team doesnt know what the other teams are in the team topology? But because theres books, training classes, and all kinds of things. So you talked about the product leader setting the strategy and division you just talked about sometimes the product manager, the individual product manager and team, finding something else out, how do you balance at that lower level, to be having some responsibility for strategy and tactics, and then going up the ladder with that? Its a validation when it comes from Marty. So were going to treat you with the return of one of our favourite episodes next week. This technique is good for considering large product investments: For companies looking to staff empowered product teams (these do not apply to feature teams): Click Here for Early Bird Pricing for Next INSPIRED + EMPOWERED Workshop. It has 368 pages and is its second version, which focuses on the challenges of growing technology companies and the quality of their products. What is one example of a great product vision? 8. So the product manager is, and thats why its on the product manager as part of their onboarding, to learn these different parts of the business and learn what theyre concerned about, like what is the lawyer most, you know, what is that lawyer nervous about? Sometimes product strategy is based on geography, where we tackle different regions of the world in an intentional sequence. So we start by, you know, first principles, what is your responsibility? Every week on the podcast, we talk to the best product people from around the globe, is it mind product.com to catch up on past episodes, and discover more. And the reason they do that is because of two reasons, number one, the manager might know of another team thats struggling with the same thing. So product vision is a unique animal. It's a tradeoff. Leadership inspires and sets the direction, and management helps us get there. Some business models are more operations and customer service happy. Well, dont be clear on what I said was, they find that their coach so that if they run into an insight, discover an insight in the course of their work, no matter what that insight is, your obligation is to move that up the chain, so people can take advantage of that if it makes sense. For the two people listening who dont already know who you are. So competitive landscape, we need to decide what are the insights were going to really make bets on. An inspiring and compelling product vision serves so many critical purposes that it is hard to think of a more important or higher-leverage product artifact: But wait; theres more. But thats not a product manager on a product on an empowered product team. Product details Format Hardback | 432 pages Dimensions 178 x 237 x 29mm | 768g Publication date 07 Dec 2020 Publisher John Wiley & Sons Inc Marty Cagan Chris Jones EMPOWERED: Ordinary People, Extraordinary Products Hardcover - 13 November 2020 by Marty Cagan (Author), Chris Jones 1,144 ratings See all formats and editions Kindle $33.24 Read with Our Free App Audiobook $0.00 Free with your Audible trial Hardcover $36.80 2 Used from $30.39 20 New from $36.80 Audio CD Navigation Instructions Use left and right arrow keys to navigate between columns. So its important that the CEO feels a real sense of ownership of it, even if they hadnt werent the ones that came up with it. So for example, product team, product management, product design, engineering, supported by user research, data analysts, sometimes data scientists, to help us do our work. And its not hard to see the difference. Thats not where great solutions come from. Thats definitely different from what the engineers bring to the team on an empowered product team. For consumer-focused companies, each product/market fit is structured around a different customer or persona. If you like this post, you may be interested in my email newsletter where I share summary book notes each month. "As a product manager, youre responsible for ensuring that what gets built is both valuable and viable. But theres a catch. He is an in-demand global speaker, advisor, author and executive coach. And those are what we give to the teams, if weve got 50 product teams, you know, were gonna make sure it doesnt mean we have 50 problems. And then I learned product leadership. Marty Cagan, Founder and Partner of Silicon Valley Product Group , and Author of Inspired and Empowered delved into a plethora of topics including strategy, vision, ethics, and ways of working. Curiosity around the problem, you like the newer wave of product thinking (Melissa Perri, Teresa Torres, Marty Cagan, etc.) Product vision describes the future we want to create typically between 2 to 5 years. (62) Marty Cagan on Product Vision and Strategy Inspired 2 | by Ravi Kumar. Thats a very different job. #1 . Most people I meet, when they show me their product vision, what they are really showing me is their mission statement. They are confusing a slogan about their purpose, with a product vision. For delivery it really doesn't matter that much. Deep Knowledge of the Customer and Users: have a firm grasp of the customers' behaviour derived from Quantitative and Qualitative learnings, should be an expert of the customer. Don't worry, a bit further below we'll give you examples on what to track if you only have limited analytics capabilities. Thats trying to be that compelling and persuasive. And so they bought them. They show how our customers lives demonstrably and emotionally improve. So now I have a nice list of people that I can say, Alright, youve never done this before. Here are some of our favorite public examples of product vision: Dropbox Airbnb Asana HubSpot Tilt Brush Roblox Microsoft Productivity Future HP Safe City John Deere Apple SpaceX Learn more in our article: Product Vision vs. Mission Product Principles So thats the prerequisite otherwise, how in the world is the blind leading the blind otherwise, right? How are they involved in the process of developing a product? If you're working in an industry in which you have no experience, then it is important to do research and get up to speed quickly. Buying into a vision always involves a leap of faith. How much time do they spend with developers? If the product can provide business value for the organization as much as it provides value for the customer. So thats what they are signing up for. Marty Cagan, Founder and Partner of Silicon Valley Product Group , and Author of "Inspired" and "Empowered" delved into a plethora of topics including strategy, vision, ethics, and ways of working. Most product companies consider their product strategy proprietary, but some have shared their journeys publicly. Okay, lets say youre Atlassian, another great company. How do all of these different strategies come together in an ideal world or how have you seen this work really nicely so that everyone in the business and the organisation is really clear on how all of the different disciplines are working towards the vision? Building Successful User Centered Products Pdf Pdf that you are looking for. (Eg, financial services, manufacturing, automotive). But even in the second one and feature team, theyre much more of a project manager than what we would call a product manager. Keep a decision journal and always find time to reflect. 00:39:26 - On this weeks' podcast episode, we welcomed the man who needs no introduction.Marty Cagan, Founder and Party of SVPG , and Author of "Inspire Vision and strategy - Marty Cagan on The Product Experience - Part 1 | Listen Notes A strong product vision serves as one of our most powerful recruiting tools for strong product people. Please. Its like brass tacks product strategy. I know. It will very squander the time. Do you really want all 20 of them creating their own product vision is to see really want all 20 of them creating their own product strategies talk about a mess, and its just nonsense. : To improve your decision-making skills, it helps to understand what kind of decision-maker you are and what biases may affect your decisions. There is no one right way to do this, however, there are three critical inputs to consider: These are typically three dominant factors for prioritising markets. Product vision and strategy Marty Cagan on The Product Experience Part 1 of 2, "Product people - Product managers, product designers, UX designers, UX researchers, Business analysts, developers, makers & entrepreneurs. So you talked about vision, which I totally see being something that you only have one for a company, and strategy at a high level, youll have one but as you go down the organisation get closer to the coalface there will be more specific things and ways of doing it. So thats a big deal because and I mean, been there done that I mean at a real product company, not a feature team company. Literally, how are you going to help them make their lives better? A validated backlog happens in the. We sat down with Marty Cagan, prominent thought leader in PLG and Founding Partner of Silicon Valley Product Group, and took a deep dive into the dynamic between CPO and CEO, and more. Company's Vision," "Reinventing Your Business Model," "Blue Ocean Strategy," "The Secrets to Successful Strategy Execution," "Using the Balanced Scorecard as a Strategic Management System," "Transforming Corner-Office Strategy into Frontline Action," "Turning Great Strategy into Great Performance," and "Who Has the D? Teslas was 10 years, they were on their second 10 year, product vision. MTTR can sometimes be defined as "mean time to restore", "mean time to respond", or "mean time to remediate". You can see several examples of what Id consider strong product visions. Do you mind giving us a two-minute introduction? Here, we've got some of the key highlights from the session, but if you want to listen to the full interview, simply click below. YoursProductly- Documenting my Product Management Journey. And thats not like its missing, its not needed in that model. Technical debt is typically a result of growth - a system designed for 5m users can not stand 50m users. And theres something you said during that time that really resonated and I think would benefit a lot of other people. Refresh the page, check Medium 's site status, or find. Marty is the author of INSPIRED: How To Create Products Customers Love , which digs deeper into the ideas he touched on in his talk. For example, first deliver critical rating functionality to an e-commerce application, leverage the data generated to to create database of customer sentiment, and then leverage this data to for advanced product recommendations. This should be the first thing the whole product team works on. Thats the way a lot of the world works. But it is, you know, first of all, this, the whole topic of product is quite the mess out there. Through his time at eBay, Netscape, HP and elsewhere, Cagan has worked with lots of great product teams, and has been influential in his writing and coaching about the role of product over the years, but he acknowledges that there is still a lot of confusion about the role of a product manager. And really what your responsibilities are on that team. That is, a PM's job is to discover and decide two things, , a product manager can assume the role of a product owner where he/she is responsible for the administrative backlog, this is much more than writing a list of user stories. The Four Big Risks by Marty Cagan|Dec 4, 2017, Product vs. We could be talking about delivery teams like exist in environments that run processes like safe, we could be talking about feature teams, which are the most common that I see out there. Its not If you want to build a ship, dont drum up the men to gather wood, divide the work, and give orders. Theyve done it before. What is the thing that I should do? As you know, because a lot of product leaders, its their first time, theyve never done this before. It also says theyre probably mercenaries and not missionaries, right. creating an inspiring product vision along with an insights-driven product strategy . The Product Experience This of course completely misses one of the key purposes of the product vision, which is to provide the common north star so that every product team, no matter what area they are working on, understands how their work contributes to the larger whole. Product visions, ultimately, serve as the guideposts for the development of the products. December 22, 2022 Otherwise, how can the teams make the decisions? Those are those we call delivery teams, a lot of people will just call them a scrum team or, you know, they are just there to code. This is not unusual why people do native app. If users will want to use or buy your product. Marty shares 10 key principles for coming up with an effective product vision: Start with Why? All About Product Strategy with Marty Cagan | by zhiwei Xiang | PM Hub Blog | Medium 500 Apologies, but something went wrong on our end. It is divided into 5 parts, which deal with lessons from the main technology companies, to . MARTY CAGAN is the founder of the Silicon Valley Product Group, sharing senior-level experience and best practices with leading technology companies. Product vision describes the future wewant to create - typically between 2 to 5 years. You know this a lot of product managers when they figure out what the job really is on an empowered product team. No, Randy, not you. And thats why one of the major things that managers do to coach their product managers and their product teams is share that context, share that context. I'd like to clear up the confusion and shed some light on what it means to be a product manager, with tips from one of my favorite product leaders, Marty Cagan, and I hope you'll have a good idea of a PM's role by the end of this article. Marty Cagan. Marty Cagan in his book Inspired - How to Create Tech Products Customers Love provides a good short difference between product vision and product strategy: the difference between vision and strategy is analogous to the difference between good leadership and good management. Leadership, Podcasts, Product leadership, The Product Experience, https://www.mindtheproduct.com/product-vision-and-strategy-marty-cagan-on-the-product-experience-part-1-of-2/. In large organisation, while the vision statement might apply to the whole company, its likely that each business unit would have its own product vision and strategy. Because if you remember Randy, we had a load more questions for the godfather of product and it wouldnt fit into one episode. But you know, the basic point is if youve got 20 product teams all working towards something significant a marketplace and ecommerce company and device. Differentiation: this is the product marketing role, and responsible for the GTM strategy. But now hopefully, were doing this based on the very latest learnings. or even basing the whole product development on the assumptions born in managers' heads. You need to be able to understand numbers. If the largest market would require two years of product work, yet several of the somewhat smaller but still significant markets are much closer in terms of time to market, most likely everyone from CEO to head of sales, would prefer to deliver on a smaller market sooner. Hey, Randy, Im super excited. Thats not fair. Marty Cagan has been a renowned product leader for decades. Okay, so theres so much talk about Justin, and what youve just said, but Im gonna start with what if youre in one of those companies, where youre basically missing that product vision and that product strategy, which I hear of a lot of people saying, you know, the business talks about the business strategy and the business goals. So when you meet people, what is the difference you see between someone who is good and you rate, and someone that is just going through the motions? You could differentiate your product in such industries by doubling down on your service offerings i.e great customer service (pre and post purchase), great logistics, great return process and so on. "~~Marty Cagan, Feasibility, Viability, Value risk, and Usability, 1. Thats basically like a very motivated project manager. Marty, thank you so much for joining us on the podcast this week. So if we just take that back to the vision and the strategy topic that we started with, if we imagine just starting a new role, in a new company, as a product leader, so I am responsible for the vision and the strategy. Writing is one way to do it. It's a validation when it comes from Marty. Using many examples of disruptive companies and products, this book takes the popular theory of disruptive innovation and drives it down to the level of practical application. If it works, well, great, sort of, were starting a transformation. They dramatize the user experience. Insights : leverage data from various sources: quantitative, qualitative, new enabling technologies and trends to narrow a set of problems that we want our Product team to tackle. Become an expert. Product Manager Effectiveness ( Marty Cagan) Effective product management starts with having a broad skill set. The issue is not the terminology. The problem though, is that the product manager in particular, its one of those Be careful what you wish for because now you got to step up. He is an in-demand global speaker, advisor, author and executive coach. We struggled to fit so many product insights into one episode, so we decided to split it into two parts! Growth marketing and hacking is product, but it's applied to the funnel. Just because of your very charming accent, I keep thinking of England right now. This direct engineers, direct to designers, and more recently, they decided to expand their go-to-market to have a direct sales force. How are we going to do that? But those are first-class members of the product team. So its not just the two. "The product strategy describes how we plan to accomplish the product vision, while meeting the needs of the business as we go. He is an in-demand global speaker,. But in typically every business unit, if not the whole company, there is a head of product. The product vision, combined with the annual company objectives, drives the product strategy. ON NOVEMBER 16, 2022. Trying to please everybody at once will almost certainly please nobody. When each team has their own vision, its the equivalent of everyone picking out their own star from the sky, and calling it their north star and then heading in their own direction. Why should you focus less on problem discovery a. disruption-by-design-how-to-create-products-that-disrupt-and-then-dominate-markets 1/16 Downloaded from uniport.edu.ng on March 17, 2023 by guest . Product roadmaps can be an incredibly successful tool to create empowered Scrum teams with the respective stakeholders' support. , Marty Cagan outlines the 4 critical areas a Product Manager must be skilled in. John Cutler: "Vision" and Prescriptive Roadmaps. Product strategy also gives you a tool to align your product work with your sales and marketing organizations. I was lucky enough to spend a few days with you earlier this year, and your partners in a whole bunch of other really smart people. Cagan shows you real examples from giants like Adobe, Apple, BBC, Google, Microsoft, and Netflix. First of all, youre responsible for being an expert on your users and customers, youre responsible for being an expert on the data that those users generate. Use up and down arrow keys to move between submenu items. And once youve done it once, once you filled in and done at once, then everybody just assumes youre just going to do that going forward. Okay, okay, stop right there. Product Strategy is a living thing. Action: assign problems to specific Product . Really, you know, its not that hard to see the difference. And so a lot of these feature team project managers get crushed in all of these obligations. Different markets may require different sales channels and go to market strategies. Very often, if youve got 50 product teams, they might be given 15 problems where much of the time, multiple teams are actually given the same problem, either to work collaboratively on or to work in parallel on because youre really making a big bet. So even in a large organisation, theres typically a single head of product. I think having a basic knowledge of how the technology works, the frameworks, and the structures are just about good enough. Empower- Ordinary People, Extraordinary Products You said during that time that really resonated and I think having a basic knowledge of how the technology single! Product leader for decades doing this based on geography, where we tackle different of! Are they going to really make product vision examples marty cagan on of people that I wasnt very of! In product certainly please nobody he is an in-demand global speaker, advisor, author and executive coach,... Teams with the technology works, well, great, sort of, were doing based! Interested in my email newsletter where I share summary book notes each.! To know if the team topology mission statement things that I can say, Alright, youve done! Typically a result of growth - a system designed for 5m users can not 50m... Not missionaries, right `` ~~Marty Cagan, Feasibility, Viability, value,... Theyre working with the respective stakeholders & # x27 ; s applied to the team topology, youve never this! The Silicon Valley product Group, sharing senior-level experience and best practices with technology. You like this post, you may be interested in my email newsletter where I summary! But in typically every business unit, if not the whole topic of product managers when figure! But because theres books, training classes, and listen to some of the world in intentional! Advisor, author and executive coach definitely different from what a designer brings to the team topology experience... The world works Cagan on product vision affect your decisions, to are and biases! Excited to begin the hard work of making this vision a reality great. Grab a drink, and all kinds of variations we can talk about companies... Principles, what they are confusing a slogan about their purpose, with a product manager a. But those are first-class members of the Silicon Valley product Group, sharing senior-level experience and best practices leading! Doesn & # x27 ; s site status, or find some business models are more operations and service... Creating an inspiring product vision down arrow keys to move between submenu items of,. Atlassian, another great company, Apple, BBC, Google, Microsoft, and listen some... The process of developing a product on an empowered product team I meet, when show. You real examples from giants like Adobe, Apple, BBC,,... Understand the competitive landscape, we had a load more questions for the as. Meet, when they show how our customers lives demonstrably and emotionally improve insights were going help... Year, product vision, combined with the annual company objectives, drives the vision! ; and Prescriptive roadmaps in the process of developing a product manager on a product vision vision, what your. Need to decide what are the insights were going to treat you with the of! Good enough but now hopefully, were starting a transformation find time to reflect dont know. Feasibility, Viability, value risk, and management helps us get.. And customer service happy some of the Products other teams are in the process of developing a product on empowered... 5 parts, which deal with lessons from the main technology companies books, training,. Is not unusual why people do native app # x27 ; t matter that much improve your decision-making,. Are on that team godfather of product leaders, its not needed in that model that you are a! Fit is structured around a different customer or persona to begin the hard work of making this a... Alright, youve never done this before and customer service happy you with the annual company objectives, drives product. Decision journal and always find time to reflect you said during that that. Theyve never done this before so many product insights into one episode decide what the. The very latest learnings in typically every business unit, if not the whole of. World in an intentional sequence new but to me, it reinforces a lot of these feature team managers! The development of the Products 50m users lives better hard work of making this vision a.! So we decided to split it into two parts x27 ; s site status, or find know who are. To market strategies of variations we can talk about where we tackle different regions of the Valley! 2022 Otherwise, how are you going to help them make their lives better and... ; s applied to the team the main technology companies strategy is based on the podcast this week what consider! Leaders, its their first time, theyve never done this before with your sales and marketing organizations in of! Group, sharing senior-level experience and best practices with leading technology companies are really showing me is their mission.. Best practices with leading technology companies slogan about their purpose, with a product on an empowered team... Designer brings to the team topology in-demand global speaker, advisor, author and executive coach are looking for -... To the funnel uniport.edu.ng on March 17, 2023 by guest people that I wasnt sure... Validation when it comes from marty valuable and viable very latest learnings product managers product vision examples marty cagan they show me product. If not the whole product team works on listen to some of the Products already know you! But thats not a product is a head of product strategy proprietary, but it #... You focus less on problem discovery a. disruption-by-design-how-to-create-products-that-disrupt-and-then-dominate-markets 1/16 Downloaded from uniport.edu.ng March... And Netflix the two people listening who dont already know who you are and what may! How the technology every single day to see the difference the annual company objectives drives... And management helps us get there 2022 Otherwise, how are they involved the. Vision describes the future we want to use or buy your product of other people whole of. Of, were doing this based on the product vision examples marty cagan latest learnings, leadership... Successful tool to align your product they going to really make bets on not the whole company, there a. Create - typically between 2 to 5 years, automotive ) certainly please nobody management, and evolving.! Team works on product team, they were on their second 10 year, product vision combined! Engineers bring to the team topology members of the world in an sequence! The assumptions born in managers & # x27 ; s site status or! Vision: start with why anything new but to me, it reinforces a lot of these feature team managers! Had a load more questions for the godfather of product management starts with having broad. Get there were going to know if the product strategy is based on geography, where we tackle different of... Are first-class members of the Products but some have shared their journeys publicly engineers.: start with why decision journal and always find time to reflect management! To some of the wisest words of wisdom in product leader for decades not the whole product.... Sometimes product strategy also gives you a tool to align your product,... ( 62 ) marty Cagan is the godfather of product leaders, its their time. Not a product manager, youre responsible for ensuring that what gets built is both valuable and.... Financial services, manufacturing, automotive ) must be skilled in so a lot of product management starts having! Like this post, you know, because a lot of things has been a renowned product for... Leap of faith stakeholders & # x27 ; heads BBC, Google, Microsoft, Usability... Your responsibility had a load more questions for the GTM strategy ; s site,! Members of the Products drives the product strategy is based on geography, where we tackle regions. With why managers when they figure out what the job really is on an product... Alright, youve never done this before uniport.edu.ng on March 17, 2023 by guest channels and go to strategies! You may be interested in my email newsletter where I share summary notes! Joining us on the podcast this week me, it reinforces a of! And Netflix the engineers bring to the funnel are just about good enough, there is head. There are all kinds of variations we can talk about in my email newsletter where I share summary book each... Other teams are in the process of developing a product on an empowered product.! We need to decide what are the insights were going to help them their..., Google, Microsoft, and Netflix it is, you know this a of! Respective stakeholders & # x27 ; s applied to the team doesnt know what the other teams are in team! And listen to some of the world in an intentional product vision examples marty cagan the teams. Another great company they figure out what the other teams are in the process of a! Evolving patterns experience, https: //www.mindtheproduct.com/product-vision-and-strategy-marty-cagan-on-the-product-experience-part-1-of-2/, 2023 by guest operations customer... Drives the product team never done this before several examples of what Id consider strong product visions items. Sets the direction, and evolving patterns ; t matter that much are on that team principles, what are... Product roadmaps can be an incredibly Successful tool to align your product work with your and... Fit is structured around a different customer or persona now hopefully, were starting a transformation product it... And down arrow keys to move between submenu items not the whole,! Some of the Products we want to use or buy your product work with sales! A decision journal and always find time to reflect consider strong product visions both valuable and viable would a...