Site Loading...
Your address will show here +12 34 56 78
Agile, Product Management, Professional Development
Being part of a start-up is exciting and oftentimes that means you’re moving so quickly that you might forget certain essential things. So keep yourself in check with this check-list.  

1. Start with your Addressable Market
Even if you have the greatest idea in the world, if no one wants to purchase or engage with it then it’s a non-starter. Work out your addressable market and don’t be overly optimistic. It’s better to drill your addressable market down as small as you can to make sure your business case still stands up with less people using the product.  

2. Take a holistic view
Before you begin looking at the business case, write down all the things that your product will need. Look at it laterally and investigate whether there are regulatory or legislation requirements. Establish whether you have any expertise in the areas concerned and if you don’t, build a team around you who can help figure it all out.  

3. Review competitor products
What other companies are out there who have built similar products? How do they perform, what are the strengths and weaknesses of those products and what is the gap that your product will fill? If they have 2 million purchases per month how long did it take them to achieve that goal and how much marketing investment was required?  

4. Build a business case with a long term view
Many small businesses fail within the first few years, up to 60% according to Huffington Post, so don’t just look at the numbers in the short term, look at your long term numbers. Extrapolate a business case that goes out to the 5 year mark. Yes it gets difficult when you’re launching and have no historical trends to rely on, but you can revisit and revise it as time goes on. The business case will serve as a guidance point on where you expected to be versus where you are. If you focus on the short-term, you might find you lose out on a viable long-term business that takes some time to get off the ground.  

5. Test the market
Now that you’ve established you believe there’s enough people in market who want your product, that there’s a gap in competitor products which you fill, and that there’s a long-term commercially viable business, it’s time to test your assumptions. Build your minimum viable product (MVP) to establish if there is enough interest in market before you start building the real thing. Remember your MVP doesn’t have to be functioning – it could be a video that explains the product and gets interested people to sign up; or it could be a site that isn’t actually hooked up in the back end. Its core function is to determine if you should proceed to build your product, it doesn’t have to actually be your product.
0

Agile, Product Management, Professional Development
Now that we’ve established what a product manager does, just how does that product manager prioritise competing requests that come from all areas of the business? In our mind there’s only one way to do this: Business Value.  

It’s important to note that business value doesn’t just refer to actual dollars brought in but to the long term value of the product and its users – all of which can easily be traced back to dollars, but it’s not just about sales!

There’s a common misconception that perhaps the way to make sure you get your requirement easily seen to is to be the best salesperson for that requirement. We reject that statement – strongly. It’s not about razzle dazzle, it’s about how valuable that feature is to the overall business.  

How do you assess business value?  
It’s not an exact science and it’s not expected to be, but it’s the best tool you have to gauge priorities in development. Take into consideration all angles:
– How does it tie back to the overall business and product vision?
– Is it a USP and something that will set you apart in market?
– What is the associated effort from the team to put it in place?
– Is it attached to a commercial campaign or will it drive user acquisition – how much of each is it worth?
– Are there other reasons you might consider doing it (to get an internal department on side for example)?  

Once you have all the answers to these questions it’s time to do some maths in your head. Add up all the pieces and then weight them relative to all the other requirements in your backlog. The ones that come out on top (have the biggest “bang for buck” so to speak) are the ones you do first.  

Now you continue to iterate on these calculations, always re-estimating and re-evaluating your bang for buck to make sure that your team is working on the items with the highest business value at any one time. By working in this way it may not always be obvious why you have chosen specific features (they may be hard to develop) or why you have said no to some features (when they are easy to develop but don’t tie back to the business vision) but you’ll always be working on the right thing.  

If you’re after a bit more insight into the overall agile product owner process, watch this video on YouTube.

Image Credit: Photo by bonneval sebastien on Unsplash
0

Agile, Product Management
A friend of ours used to joke that the name of this company should be Vertical Slice because of the number of times we’d say it in a given day and how we’re forever having to explain to new people just what it means. It’s an agile term and yes, I know it sounds like we’ve drunk the kool aid – because we have.  

So, just what is a vertical slice? Well it’s one way of describing a software development practise that can be applied to pretty much anything in life and it boils down to this: rather than developing different pieces of the puzzle in isolation, instead, work on making the smallest possible bit of the puzzle all work together end-to-end first.

For example, if you were making a trifle you would start with a very thin mould (thin slice) where you layer all the ingredients in on top of one another, leave it to set in the fridge immediately (where it sets much quicker because it’s not the full cake), then take it out, test it out and see what it tastes like (the customer response).  

mke-agile-032014-slicing-the-cake-user-story-decomposition-4-638
There are lots of advantages to developing this way. In the first instance, because you’re making all the layers of the cake work together at the start, you inherently reduce your risk of blowing your deadline by working with technologies that might be difficult to integrate. You identify problems much faster, thereby giving more time in the project for thinking of a solution (rather than the converse which would leave you at the end of the project rushing to make layers work together).  

Secondly you get to demonstrate a version of the end feature to your customer much faster, meaning you can learn from their feedback about whether this was what they wanted in the first instance and what you can do to improve the feature based on their actual requirements (not just what you think their requirements are).  

Thirdly, it gives you the option to launch the full product faster. You cut out wastage in developing features and functions that are not desired by the customer (no matter how logical they may seem to the feature team) and, if needed, you can launch a solution that makes a date requirement but doesn’t necessarily have all the bells and whistles that originally were envisaged. Meaning you get to market faster than your competitors.  

We could go on but you get the idea. Take your requirement and boil it down to the simplest possible variation. For example, if your requirement is that customers can login to your site, and the full version has login across multiple different types of accounts, start by doing login just with Facebook. Don’t style it in your initial story. Boil it back to the basic requirements: – A customer can login from X device, using X browser, via their Facebook credentials This will give you immediate visibility of any technology problems and allow you to pivot your requirement much earlier without having wasted valuable resource on design.  

*Vertical slice slide borrowed from Dave Neuman @ Slideshare
0

Link partner: slot5000 luxury333 batman138 dewagg idngg vegas88 elanggame bro138 bos88 gen777 zeus slot roma77 liveslot168 luck365 sky77 maxiwn138 harta138 qq1221 qqdewa qqalfa qqpulsa qq88asia qqslot777 roma77 pg slot habanero slot mahjong slot