Growjunction’s Post

Unlock the power of product management with clear goals, objectives, and keywords. Follow Growjunction for more Content Drop your email below to receive exclusive resources straight to your inbox! #ProductManagement #Goals #Objectives #Keywords #GrowJunction

I was struggling with how to measure the success of a platform product. This insightful course “Managing Platform Products” touches this topic and others that may help your Product Managers. Here the link: https://lnkd.in/dhuSktKB #productmanagement #platformmanagement.

Product Management Daily Tip, Day 359: Cannibalize your product before others do. Companies too often shelve innovative ideas because these new products might hurt their existing business. The reality is that competitors (new and existing) are looking to take your customers and make your business irrelevant. You can either stand by and let them do it, or you can innovate, even if it means cannibalizing your heritage products. (Follow #ProdMgmtDailyTip for a #productmanagement tip every day in 2023.)

😡 𝙒𝙝𝙖𝙩 𝙙𝙤 𝙋𝙧𝙤𝙙𝙪𝙘𝙩 𝙈𝙖𝙣𝙖𝙜𝙚𝙧𝙨 𝙝𝙖𝙩𝙚 𝙩𝙝𝙚 𝙢𝙤𝙨𝙩? -> Not having clear goals -> Building something they aren't passioned about -> Updating roadmaps manually -> Using 17 different tools for their work -> Being told what to do -> Sales asking for ETAs What's your favourite? #productmanagement #productmgmt

How do we keep our product advantage? 🤔 We are building a product in a competitive market, and we come up against a variety of other tools in many of the deals we're in. I genuinely believe we have the best product on the market, but often ask myself: how do we keep it that way? Yes, we can be secretive about your product to an extent, but ultimately most things can be copied by another reasonably good product team—at least, at a shallow level. So, in absence of a Coca-Cola style secret recipe, how do we make sure our product stays ahead? 👟 Speed 👟 Putting aside a Tortoise-and-Hare situation, if we start ahead, and continue to ship faster than our competitors, we'll stay ahead. That's why we always talk about Leverage. Building abstractions that help us ship high quality product at pace is the best way to stay ahead. If it costs us 2 days to build something, and our competitor 2 weeks to copy it, we are at a huge advantage. Whether that's building new integrations or enabling new workflow steps, having strong foundations we can build quickly on is what will help us keep our lead. 🧩 Cohesion 🧩 A great product is better than the sum of its parts. Each feature we add creates complexity—yet more things for your users to onboard into and understand. If we keep making our product wider and wider, we'll end up with something that might 'tick all the boxes' but is really hard for our customers to actually use in the real world. Instead, we are always trying to build a cohesive product, where each feature builds on the last. That means our customers can configure something once (e.g. Catalog), and then use that setup across the product. Any investment they make into configuration is repaid many times over, and is a far more attractive proposition. 🏋️ Support🏋️ Particularly when you're building for other businesses, you need to be able to support your customers to get the best from your tool. Having timely and helpful support can completely change the way someone experiences your product. Building partnerships with our customers is also a genuine win-win: we get a tonne of super valuable and honest feedback, and they get an influential voice in our conversations about product direction and priorities.

"The Product Strategy Stack", a tool you can use to define clear strategy and assess your progress. Companies should think about the relationship between mission, strategy, roadmap, and goals as a stack of distinct concepts: - Company Mission - The world your company sees and the change it wants to bring to that world. - Company Strategy - The logical plan you have to bring your company’s mission into being. - Product Strategy - The logical plan for how the product will drive its part of the company strategy. - Product Roadmap - The sequence of features that implement the Product Strategy. - Product Goals - The quarterly and day-to-day outcomes of the Product Roadmap that measure progress against the Product Strategy. https://lnkd.in/dGnSNMAt

The life of PMM is summed up perfectly by this meme.

An effective product strategy can do wonders in terms of driving qualified leads and potential subscribers. Let our experts help define AND execute your product strategy seamlessly, with just a touch of a button.

Empower Your Product Journey: Unveiling Essential Tools for Product Management Success 🛠️ Follow Growjunction for more Content Drop your email below to receive exclusive resources straight to your inbox! #ProductManagement #ToolsOfTheTrade #GrowJunction

Have you tried bucketing your users on the basis of your goals? #productmanagement