Something I have seen software companies struggle with again and again is understanding the difference between product development and product launches. In order for a software product to not just work, but succeed, you need not just a product release, but a product launch. The product launch, like Requirements, is one of the very few of ...
About: pmc
Recent Posts by pmc
04014 Where Should Product Management Report?
This week’s topic is an exciting one: where is the best place to locate Product Management in an organization? Bring it up at your company if you want to spark a lively debate.
It’s a sign of the immaturity of the profession of Software Product Management that there doesn’t seem to be a standard job function where Product Managers report. Companies are all over the map when it comes to which part of the organization is in charge of Product Management.
So often Product Management is not viewed as a vital function at a company, since its purpose and focus is poorly understood. If you read about the management team of a startup, or even a larger software company, you would be shocked if it didn’t include a Finance or CFO function. You’d be pretty surprised if there were no Marketing function. But I’m willing to bet that a large number of experienced venture capitalists and entrepreneurs wouldn’t notice if Product Management weren’t mentioned in the job descriptions of the management team.
And because Product Management for software is as young as it is, you would find very little consensus in the industry about where the Product Management function belongs in the org structure.
Yet if you take a systematic, consistent approach to Product Management, the answer to where the function belongs becomes clear. Read below for a discussion of the various areas where Product Management reports today, with the associated strengths and weaknesses, and where the function belongs in a well run organization.
When it comes to determining where Product Management should be located in an organization, there are a number of issues to consider.
04013 Competitive Analysis for M&A
Previous issues have provided tips on competitive analysis to make the sales force more competitive, and to make the product more competitive. Today’s topic covers another important use of competitive analysis, which is to gather valuable information for Mergers and Acquisitions (M&A), to find companies that would make good potential acquisitions for or purchasers of your company.
This same activity can have a different outcome from an actual merger or acquisition. It could be “M&A lite,” such as a strategic alliance or partnership that strengthens your product in a new sales channel or adds competitive functionality.
And looking for new functionality, then figuring out how to put it in the product, whether by developing it internally, embedding another company’s technology, or partnering, falls right smack into the area of responsibility of a Product Manager.
Read below for tips on gathering competitive intelligence for use in M&A or strategic alliances.
04012 Worry: A Product Manager’s Best Friend
I am a person who worries. That has been the case for as long as I can remember. I’m quite sure I’m not the only one.
Like so much of our psychology that confounds us in modern times, worry had a vital purpose way back when: survival. Every mother who worriedly watches her toddler’s every move is using a trait that was essential when we walked in the forests and a child could get badly hurt at any moment by falling in rough terrain, eating a poisonous plant, or getting attacked by a wild animal.
Worry is the habit that kept us paranoid enough to be ready to run in case we found a bear or wolf or wildcat around the next bend.
Like many other characteristics that helped us out in a very different environment, worry can be pretty counterproductive in these days of plenty of food, general safety and homeowner’s insurance. It is easy to worry needlessly.
These ingrained traits from the past can’t be eliminated, but they can be channeled into useful avenues for today’s world. Since worry is a big part of my personality, I try to put it to productive use at work as a Product Manager.
Read on below for ideas on how to apply worry usefully to prepare your software product to thrive in tough situations that may arise.
04011 Competitive Analysis: Digging For Info
Product Managers are often called upon to analyze the competition, perhaps with an eye to positioning the product to sell better, or as a way of determining which features to add in order to better compete in the market. In the two previous topics, we covered competitive analysis as a general topic and specifically for sales.
This week’s topic continues the discussion with some miscellaneous tactics and techniques, detailed below, to point you in the right direction when you are called upon to analyze the competition.
04010 Competitive Analysis For Sales
Competitive intelligence and analysis is a big part of any company’s job, and is a duty that often falls to Product Managers. In last week’s issue, called “Competitive Analysis: Ready When They Are,” we looked at the topic of how to get a read on your competitors’ plans and next moves. This week’s discussion focuses on getting information so that your sales reps can sell better against the competition.
Read on for useful insight and tips to help focus your competitive analysis for use by your sales organization.
04009 Competitive Analysis: Ready When They Are
Competitive analysis is a vital function at a company, especially in the fast changing software industry. Yet it is an activity that is often neglected or haphazard.
Usually, gathering competitive intelligence doesn’t fall squarely in the camp of one department. In fact, like product management itself, ultimate responsibility for competitive analysis may be found in different departments at different companies.
Like many functions that don’t fall consistently into one department or another, competitive intelligence often becomes the responsibility of Product Managers. Product Managers, because of the scope of their jobs, which span sales, marketing, development, and management, make good point people for gathering information on competitors to meet different needs in multiple departments.
Gathering competitive intelligence is like being a scout for an army. You may take some secretive and unexpected pathways in order to spy on the other side and report on its forces and their movements. If your company doesn’t have a good idea of the current and expected moves by the competition, it risks losing sales and market share.
Read on for guidance on gathering competitive intelligence so that when the competition makes a move, your company is ready when they are to counter them effectively.
04008 What Is a Product Manager For?
When I tell people at parties that I’m a Product Manager at a software company, the response is usually: “Oh, that’s nice … what exactly is a Product Manager?”
That’s only natural, but what’s pretty unusual is that you’re just as likely to get that question from a software company colleague. I suppose this stems from the nature of the product – software, in an industry that is not mature. I don’t think this is the same issue in other, much more mature, industries like household products.
So I find myself explaining what a Product Manager is for, and I try not to launch into an article-length speech. My answer always boils down to something along these lines:
“A Product Manager fills in the gaps between different functions and departments in order to make sure that the product develops and makes progress, with the aim of making the product perform better relative to the competition.”
So what are some of those gaps? Read on for a list of potential gaps you’ll encounter at your company.
05005 Built to Order: Making Product Management Fit
In the previous issue, Fits and Starts: Creating Product Management at a Startup, I explained that Product Management is a custom solution every time. While it would be great if you could pick up the established methods and launch cycles that worked so successfully for you at a prior company, and plunk them down ready-made ...
04007 How Can Product Managers Help Development?
Product Managers are in the unique position of having dual citizenship, with passports for both Marketing land and Development land. In fact, you find you can’t predict whether a company will have its Product Manager positions reporting into Marketing or Development.
It’s a sign that companies have a difficult time figuring out where product management fits. The truth is that a fully mature product management function is independent of both, while being knee-deep in both Marketing and Development activities.
Regardless of where Product Managers are placed in the organization, they can provide vital assistance to Development in its goal of building a great software product. They provide an outside, business-focused perspective, but in a level of detail that reflects an interest in and understanding of the technology that is used to build the product.
Read below for some ideas on how a Product Manager can help Development do the best job it can.
Recent Comments by pmc
No comments by pmc yet.