Eugene Armistead’s Post

A company’s objective is an important input for Product Prioritization, and our talented team just published "Your Guide to Understanding OKRs", one of the best frameworks for setting goals and measuring success. Don’t miss it! #Productprioritization #OKRs #ProductManagement #SuccessMetrics #ObjectiveKeyResults https://lnkd.in/d2kN2sn3

Cracking the Business model code; Key Insights from my Latest Project Having a great product requires understanding the business model that turns innovation into a sustainable venture. Here is what I have learnt while working on a recent project with my team: 1. Customer Segments- Understanding target customers and tailoring the product to speak directly to them is critical. 2. Value Proposition- It is important for the solution to create real value, save time or solve a pain point in ways competition can't. 3. Revenue Streams- Creative revenue models allow for multiple avenues for growth of the product. 4. Cost structure- Efficiency is the name of the game. Lean and Agile methods ensure adaptability to market changes. 5. Customer Relationship- Whether it is automation or personal engagement, maintaining consistent interaction builds trust and long-term loyalty. Building a solid business model isn't a one-time task, it is a continuous learning process. #Product #BusinessModelCanva #ProductManagement #Teamwork

Prioritizing Product Ideas: A Key to Successful Development Setting priorities for product concepts is essential in the development process, helping companies create a clear roadmap and focus resources effectively. Here are some popular techniques for ranking product concepts: Assessment Criteria: Define criteria based on business objectives, such as market demand, revenue potential, customer value, competitive advantage, and feasibility. Scoring: Score each concept based on criteria and prioritize those with the highest scores. Ranking: Order concepts by importance based on criteria satisfaction. Comparison Matrices: Compare concepts to evaluate strengths and weaknesses. Kano Model: Categorize features into basic, performative, and delightful to prioritize based on customer value. Engage key stakeholders throughout the process to ensure a well-rounded and practical product plan. Remember, prioritization is ongoing—regularly review and adjust the roadmap as needed. #ProductManagement #ProductDevelopment #Prioritization #ProductStrategy

PMs, do you ever feel stuck in a cycle of endlessly chasing new features? I’ve been there, too. It’s easy to get caught up in trying to check off every request, but is that driving the outcomes you want? In my latest Substack article, I dive into this common trap and how it can lead to wasted time and missed opportunities. More features don’t always equal more impact. Instead, you can shift the focus from features to outcomes. This can deliver results that truly matter to your users and your business. If you’ve ever felt overwhelmed by feature requests, this article covers: - How to identify the outcomes that drive success  - Why prioritizing features can hold you back  - A framework to help refocus on what moves the needle If you’re ready to rethink your product strategy and focus on real impact, check it out. #ProductDevelopment #ProductManagement #Innovation #BusinessStrategy

Understanding Objectives and Key Results (OKRs) Framework OKRs, or Objectives and Key Results, is a goal-setting framework used by organizations to define and track objectives and their outcomes. Here's a brief summary: Objectives: These are the overarching goals an organization wants to achieve. Objectives should be ambitious, qualitative, and inspirational. They answer the question, "What do we want to accomplish?" Key Results: These are specific, measurable outcomes that indicate progress toward the objectives. Key results are quantifiable and time-bound, providing a clear indication of success. They answer the question, "How will we know when we've achieved our objectives?" The OKRs framework encourages transparency, alignment, and focus within an organization. It helps teams prioritize work, stay aligned with overall goals, and measure progress effectively. Regular check-ins and adjustments are key components of successfully implementing OKRs.  #DrSeunOgunmola #product #productmanagement #productmanagers #digitalproductmanagement #digitalproduct #topvoice #AIandProductManagement #OKRs #OKR

𝐎𝐩𝐭𝐢𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐌𝐢𝐬𝐭𝐚𝐤𝐞 #𝟕: 𝐓𝐞𝐬𝐭𝐢𝐧𝐠 𝐌𝐮𝐥𝐭𝐢𝐩𝐥𝐞 𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐒𝐢𝐦𝐮𝐥𝐭𝐚𝐧𝐞𝐨𝐮𝐬𝐥𝐲 How often do you see a major boost in business metrics after a product redesign? Not very often. How often do customers complain when the product experience changes significantly? Quite often. When conducting A/B tests, testing multiple factors at once can hide the true impact of each change. For example, a product team launched a site redesign while also changing the navigation structure. The results were unclear because they couldn't determine which change influenced user behavior. Testing multiple factors simultaneously introduces too many variables, making it hard to identify what drives the observed effects. 𝐇𝐨𝐰 𝐜𝐚𝐧 𝐩𝐫𝐨𝐝𝐮𝐜𝐭 𝐦𝐚𝐧𝐚𝐠𝐞𝐫𝐬 𝐚𝐯𝐨𝐢𝐝 𝐭𝐡𝐢𝐬 𝐦𝐢𝐬𝐭𝐚𝐤𝐞? 🔹 𝐒𝐞𝐩𝐚𝐫𝐚𝐭𝐞 𝐯𝐚𝐫𝐢𝐚𝐛𝐥𝐞𝐬: Test one change at a time to clearly understand its impact. 🔹 𝐔𝐬𝐞 𝐦𝐮𝐥𝐭𝐢𝐯𝐚𝐫𝐢𝐚𝐭𝐞 𝐭𝐞𝐬𝐭𝐢𝐧𝐠: If you need to test multiple changes, use multivariate testing to analyze the effects of each combination. 🔹 𝐏𝐫𝐢𝐨𝐫𝐢𝐭𝐢𝐳𝐞 𝐛𝐚𝐜𝐤𝐥𝐨𝐠: Create a testing roadmap that prioritizes the most impactful changes first. Understanding the specific influence of each change is important for effective optimization. Design your tests to provide clear, actionable insights. #ProductManagement #Experimentation #Optimization #ABTesting #DataDriven #CustomerCentric #Career #stephenwang

"Embarking on a journey to craft compelling business cases that drive strategic decisions. Join me as we explore the art of building persuasive arguments backed by data and insights. Let's pave the way for business success together. When solving product management challenges, prioritize user needs, maintain clear communication with stakeholders, iterate based on feedback, and align decisions with strategic objectives for optimal outcomes. Reflecting on session I gained invaluable insights into several key areas: 1. Circles Method: Embraced the Circle Method as a strategic framework for prioritizing tasks and managing time effectively. Learned to categorize tasks into concentric circles based on urgency and importance, enhancing productivity and focus. Discovered the power of setting clear goals and aligning daily activities with overarching objectives using this structured approach. Implemented the Circle Method to streamline workflow, reduce stress, and achieve better work-life balance. 2. Product Improvement: Explored strategies for product improvement through iterative development and continuous feedback loops. Recognized the importance of user-centric design and usability testing in enhancing product usability and satisfaction. Leveraged data-driven insights and analytics to identify areas for improvement and prioritize feature enhancements. Embraced a culture of experimentation and iteration, fostering innovation and driving continuous improvement across products. AAERM framework - The AAERM framework guides product managers in tracking and optimizing key metrics throughout the user journey: acquiring new users, ensuring they activate and use the product, engaging them to increase satisfaction, generating revenue through their interactions, and retaining them for continued usage and loyalty. It provides a structured approach to analyzing user behavior, identifying areas for improvement, and driving product success. #ProductManagement #ContinuousImprovement #growjunction 🚀

Are you following a "Feature Factory" Mindset? In the ever-evolving landscape of #productdevelopment, there's a silent killer that’s been holding back countless organizations: the dreaded "Feature Factory" mindset. It's a world where quantity trumps quality, and the measure of success is how many features get shipped, not the value they bring. But here's the kicker: Customers don't care about features. They care about solutions to their problems. They yearn for value. And in a market that's more saturated than ever, delivering real value is the only way to stand out. So, how do we escape the feature factory trap? After watching a video shared by Product Plan, I would like to second their thoughts and reiterate what they said here. Well, it starts with a fundamental shift in how we think, talk, and act within our organizations: ✅ Change the Language: It's time to transform our communication. Let’s talk about the impact and value for the customer, not just the features we’re building. This shift in dialogue changes how we prioritize and conceptualize work, making value delivery the core of our discussions. ✅ Lead with Value: Understand deeply what your customers need and how your solutions improve their lives. This means prioritizing projects based on the value they deliver, not just the technical specs or the novelty of the feature. ✅ Build Trust and Energy Around Value Creation: Celebrate the wins where customer value was clearly delivered. Use these success stories to fuel your team's belief in the value-first approach. Feedback, both positive and negative, is golden. It’s a learning tool that guides us toward better value delivery. Remember, value is the new currency in product development. Let's invest wisely. Content Inspiration: Product Plan #gauravgrams #strategygrams #gauravgrams Follow Gaurav B. for more such posts. Image Credits: Userpilot

#Weeknotes 432, featuring scenario planning, working with product managers, OKRs, service design and product management, system interventions, randomness, whypotheses, logic models and decision stacks, and uncertain problems. 1,291 words, 7 minutes read time. https://lnkd.in/e6KJEiU5

First principles of product Thinking My Favs : Start with the Customer , Solve Real Problems , Think Big, Start Small Start with the Customer: The customer is at the heart of everything we do. Understanding their needs, pain points, and behaviors should be the starting point for any product decision. Solve Real Problems: Great products solve real problems that customers face in their daily lives or work. Identifying and deeply understanding these problems is crucial. Deliver Value: Every product should have a clear and compelling value proposition that resonates with the target audience and differentiates it from alternatives. Focus on Outcomes: We should measure success not by outputs (features built) but by outcomes – the tangible impact and value our products create for customers. Embrace Simplicity: Simple solutions that address core needs are often more effective and user-friendly than complex, feature-laden products. Prioritize Ruthlessly: With limited resources, we must prioritize relentlessly, focusing on the initiatives and features that will have the most significant impact. Think Big, Start Small: While we should think boldly and ambitiously, it's often wise to start with a Minimum Viable Product (MVP) and iterate based on customer feedback. Experiment and Learn: Embracing a culture of experimentation, testing hypotheses, and learning from failures is vital for product innovation and improvement. Data-Driven Decisions: Relying on qualitative and quantitative data, rather than just intuition or opinions, leads to better product decisions and outcomes. Cross-Functional Collaboration: Building great products requires breaking down silos and fostering collaboration across various functions like design, engineering, marketing, and operations. Continuous Iteration: Product development is an iterative process of ideating, building, measuring, and learning. Continuously refining the product based on user feedback is essential. Embrace Change: The product landscape is constantly evolving. We must be agile and adaptable, willing to pivot and embrace change as customer needs and market dynamics shift. Think Long-Term: While we must move quickly, we should also take a long-term view, anticipating future trends, customer needs, and technological advancements. Foster Innovation: Encouraging a culture of innovation, where teams feel empowered to explore new ideas and take calculated risks, is essential for long-term success. #product #thinking #management #strategy