tag:blogger.com,1999:blog-33402297817707940332024-03-14T10:44:29.978+05:30Quilt of Experiences Aditya Bhelandehttp://www.blogger.com/profile/03088601980349331305noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-3340229781770794033.post-63912115849378034192014-05-03T13:50:00.002+05:302014-05-05T12:43:36.621+05:30The Art and Science of Product Pricing...<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: Arial, Helvetica, sans-serif;">Product pricing is a touchy feely subject, hence the following
disclaimers for I get into it...</span></div>
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</div>
<ol style="text-align: left;">
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">There is NO one-size-fit-all solution to your pricing
problem.</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Don’t look for a one time silver bullet for product
pricing.</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Pricing varies drastically between verticals,
products, company stage, etc.</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">This article is meant to give thought frame work
around pricing and not a meant to be a perfect solution to your product-pricing
problem.</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Hence read this article and make it your own for
addressing your product-pricing needs…</span></li>
</ol>
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<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;">Getting the product price right is one of those ever elusive
goals that almost all product companies are after. Companies undertake
product-pricing activity for many different reasons, for example:</span></div>
<div class="MsoNormal">
</div>
<ol style="text-align: left;">
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">New product introduction</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -24px;">Updates to existing product</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -24px;">Changes to sales / revenue targets</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -24px;">Changes to product costing</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -24px;">Changes to competitive landscape</span></li>
</ol>
<br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Just like other product related activities such as product
management, product development, support, etc., product-pricing activity should
also be given its due time, resources and priority. Without thorough data
driven process companies will find themselves not convinced about product
pricing and end up going to square one again.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;">Hence before beginning on the product-pricing endeavour, here
are some of the steps that companies should think about. <o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;">Again, a word of caution before I delve into various aspects
of the framework given below… this is a simple framework, and companies should
pick up the pieces that are applicable to them, as opposed to strictly
following the process. I’m not a believer in blindly following any framework
and neither do I promote it. I encourage companies to study various frameworks
and then pick the one that they believe will benefit the most for their specific
situation and then look into the application of it. I recommend that companies
should not look for silver bullet or ‘one size fits all’ approach cause there
is none!<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Having said that, the first step in product-pricing exercise
is to really nail down the reason for undertaking the exercise. Instead of CEO,
Business head, Sales head initiating the conversation, it’s recommended that once
a quarter there should be a pricing check point. There are a couple of benefits
of doing that:<o:p></o:p></span></div>
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</div>
<ol style="text-align: left;">
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="text-indent: -24px;">Sales head can provide you with the market pulse on the manner in which competitors are positioning pricing and customer input on pricing.</span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="text-indent: -24px;">Product Marketing Manager can share insights on changes in competitive pricing.<o:p></o:p></span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="text-indent: -24px;">As a team, companies can determine the circumstances under which pricing needs to be looked into on emergency basis. For example recently airlines suddenly started cutting their ticket prices, telecom operators slashed priced of Internet usage, etc.</span></span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;"><span style="text-indent: -24px;">Identify any data collection tools that need to put in place or updated so that right data is collected on ongoing basis so that it can be used for objective decision making.</span></span></li>
</ol>
<br />
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;">The discipline of having these conversations periodically helps
companies keep an eye out for any ecosystem changes that might force them to think
about changes to product pricing. In case the company has multiple products or
product lines that are related to each other, then it becomes even more
imperative to have these periodic checks. Through these meetings companies
should be able to nail down if product-pricing changes are required and if,
yes, what are the reasons for those.<o:p></o:p></span></div>
<div class="MsoNormal">
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<a href="http://1.bp.blogspot.com/-_M_qtqqyLRM/U2Sl_N1Ao3I/AAAAAAAABoo/fV9ZaG45qL0/s1600/pricing+pic.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://1.bp.blogspot.com/-_M_qtqqyLRM/U2Sl_N1Ao3I/AAAAAAAABoo/fV9ZaG45qL0/s1600/pricing+pic.jpg" height="388" width="400" /></a></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">It always helps to keep track of various industry best
practices around pricing. This is an ongoing exercise. It helps you in
understanding the following:</span></div>
<ol style="text-align: left;">
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Industry rules and regulations specific to the
industry vertical that company operates in. For example recently SpiceJet was
pulled aside by government for selling tickets for Rs. 1</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;"> Accepted pricing norms in the industry.<br />
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<!--[if !supportLists]-->a.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span><!--[endif]-->Who pays for what?<o:p></o:p></div>
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<!--[if !supportLists]-->b.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span><!--[endif]-->Acceptable price range<o:p></o:p></div>
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<!--[if !supportLists]-->c.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
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pricing perspective<o:p></o:p></div>
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<!--[if !supportLists]-->d.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
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<div class="MsoListParagraphCxSpMiddle" style="mso-list: l3 level1 lfo3; text-indent: -18.0pt;">
<span style="font-family: Arial, Helvetica, sans-serif;"> 3. Pricing models that customer / consumers are
familiar with and can relate to.<o:p></o:p></span></div>
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<br /></div>
<br />
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<span style="font-family: Arial, Helvetica, sans-serif;">The idea here is to get pulse of the eco system and
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<br /></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Know thy Customers! Understanding your customers purchase
psyche is extremely crucial. You should know atleast the following things about
your customers:<o:p></o:p></span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l6 level1 lfo4; text-indent: -18.0pt;">
<span style="font-family: Arial, Helvetica, sans-serif;"> 1. Customer’s perception about value of the product
category<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"> 2. Buying process: The end-to-end process that
Customers go through as part of product purchase.<o:p></o:p></span></div>
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<!--[endif]-->How are budgets approved?<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">b.
<!--[endif]-->Who is the buyer?<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l6 level2 lfo4; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">c. Who is the approver or approvers?<o:p></o:p></span></div>
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<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l6 level2 lfo4; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">e.
<!--[endif]-->How do they use the product?<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l6 level2 lfo4; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">f.
<!--[endif]-->Which features matter to them the most?<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l6 level2 lfo4; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">g.
<!--[endif]-->How long is the buying process?<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l6 level2 lfo4; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">h.
<!--[endif]-->How far in advance do customers plan the
purchase?<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l6 level2 lfo4; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">i.
<!--[endif]-->Payment recovery once the product is sold<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l6 level2 lfo4; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">j.
<!--[endif]-->Objections raised by Customers in the buying
process<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l6 level1 lfo4; text-indent: -18.0pt;">
<span style="font-family: Arial, Helvetica, sans-serif;"> 3. Customer segmentation: All Customers are not
born equal. Broadly customers can be grouped into various categories. This
categorization or segmentation can help in creating pricing models based on
Customer’s ability to pay for and use the product. For example:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l6 level2 lfo4; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">a.
<!--[endif]-->Volume (High / Medium / Low)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l6 level2 lfo4; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">b.
<!--[endif]-->Global (Users from multiple geos using product)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l6 level2 lfo4; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">c.
<!--[endif]-->Number of users (High / Medium / Low)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l6 level2 lfo4; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">d.
<!--[endif]-->Bargain hunters<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l6 level2 lfo4; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">e.
<!--[endif]-->Smart cookies<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: Arial, Helvetica, sans-serif;"> Each of these segments should be studied in-depth
so that product offering and pricing can be tailored to them. <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;"><br /></span>
<br />
<div style="text-indent: 0px;">
<span style="text-indent: -18pt;">4. </span><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Data capture: Customer segmentation can be done
successfully only if data is related to customers is captured by Sales,
Support, Marketing and product teams. Without this data, Companies may be
flying blind and not know what’s working for them and what’s not. Typically,
the longer time window data companies have to work with the better it is. In
case, the of new product release, this may not be possible, but then put the
systems in place from day one so that the data is captured from the get go.
Companies can use CRM systems, home grown systems, etc., but they must use some
system. Otherwise the data is lost in emails and permanently lost when folks
move on from organization.</span></div>
</div>
<div class="MsoListParagraphCxSpLast">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;">Then comes the Competition, the ever changing and ever
present force that impacts various aspects of your business, including pricing.
In order to consider competitive impact, Companies’ should first know the
following:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l5 level1 lfo5; text-indent: -18.0pt;">
<br />
<ol style="text-align: left;">
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Who is the core competition?</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Competitions’ geo presence</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Who is the secondary competition and beyond
that?</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">What pricing models do they have?</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">How big is their product adoption?</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Feature comparison</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">How long have they been around?</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Pricing model presentation</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">How often does the competition shows up sales
scenarios?</span></li>
</ol>
</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;">The key here is to really use the competitive information to
figure out the real threat that the competition poses in Company’s grown
strategy. <o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;">Companies should really have handle on the product costing.
Many companies in the B2C space create product and put it out there based on
the way their competition is pricing the product. They assume that the pricing
is such that they will be profitable anyways after a while. But this approach
is suicidal! Because companies then one day suddenly realize that despite of
high product sales volume, they don’t have a lot of margin and to be really
profitable, they would drastically need to change the pricing or increase sales
or cut costs. A number of books have
been written on product costing and it’s recommended that Companies should work
with certified cost accountant for getting a handle on their product costing.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;">Product pricing is also a function on Sales and revenue
targets. This is part of the top down approach of product pricing. A company
can decide that they have to reach a certain revenue goal and work backwards
from there to come up with an approximate price of the product. At this point
they may realize that they have to price the product much higher that what the
market is ready for or the other way round. In either case, the Sales team
needs to be always involved in the pricing conversation, so that they can bring
their market knowledge to the table. At the same time it’s necessary to note
that they don’t use pricing as the reason for not being able to reach their
sales target.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;">Pricing Models and Analysis is the most fun part of the
product pricing exercise. This is where all the data that has been gathered
internally as well as from external market is used for determine product
pricing. Here are some steps that should be taking as companies try to come up
with pricing model:<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;"><br /></span>
<br />
<div style="text-indent: 0px;">
<span style="text-indent: -18pt;">1. </span><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Identifying the key-pricing drivers:</span></div>
</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">a.
<!--[endif]-->By users<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">b.
<!--[endif]-->By organization<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">c.
<!--[endif]-->By product units<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">d.
<!--[endif]-->By transactions<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">e.
<!--[endif]-->By functionality<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast">
<span style="font-family: Arial, Helvetica, sans-serif;">There can be many more. Ensure that pricing
is in line with the value the Customer is getting out of it.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;"><br /></span>
<br />
<div style="text-indent: 0px;">
<span style="text-indent: -18pt;">2. </span><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Impact analysis: Every time changes to pricing /
pricing model are suggested, impact on the following should be taken into
consideration before rolling out pricing:</span></div>
</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">a.
<!--[endif]-->Existing customers (to grandfather or not)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">b.
<!--[endif]-->Sales and support process<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">c.
<!--[endif]-->Revenue and Sales target<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">d.
<!--[endif]-->Profitability<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">e.
<!--[endif]-->Product buying experience<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">f.
<!--[endif]-->Acquisition of new customers<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">g.
<!--[endif]-->Product Management<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">h.
<!--[endif]-->Product Marketing<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">i.
<!--[endif]-->Product Engineering<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">j.
<!--[endif]-->Billing related changes<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;"><br /></span>
<br />
<div style="text-indent: 0px;">
<span style="text-indent: -18pt;">3. </span><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Pricing models: When coming up with
product-pricing models, ensure the following:</span></div>
</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">a.
<!--[endif]-->Easy to understand<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">b.
<!--[endif]-->Easy to explain<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">c.
<!--[endif]-->Easy to pay (annual payment option)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">d.
<!--[endif]-->Relates price to value (value driven)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">e.
<!--[endif]-->Room for Sales to provide discounts
(introductory offer, seasonal discount, regular client discount, one time
annual payment discount, etc.)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">f.
<!--[endif]-->Enables differentiation (charging for unique
value as opposed to commodity)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">g.
<!--[endif]-->Has low barrier to entry of first time users
(freemium)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l8 level2 lfo6; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">h.
<!--[endif]-->Has options for attracting large prospects
(future customers)<o:p></o:p></span></div>
<div class="MsoNormal" style="text-indent: 36.0pt;">
<br /></div>
<div class="MsoNormal" style="margin-left: 36.0pt;">
<span style="font-family: Arial, Helvetica, sans-serif;">Note: Avoid the word ‘unlimited’
in the pricing model wherever possible. Incase ‘unlimited’ word is being used,
then should be explained in the terms and conditions.<o:p></o:p></span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></div>
<div class="MsoListParagraphCxSpFirst">
<div style="text-indent: 0px;">
<span style="text-indent: -18pt;">4. </span><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Scenarios modeling are very critical to really
understand the impact of pricing and pricing models. To do this, take existing
customers and future customers and find out before and after impact. For
example with current pricing Customer was paying X with new pricing customer
will pay Y. Create real looking pricing page, rate sheets to understand the
visual impact. Perform this activity for every customer segment and analyze the
impact. Be especially sensitive about the impact on the customer segment from
which the company is making large revenues. If this segment is adversely
getting impacted then, the new pricing might have over all negative impact on
the revenue.</span></div>
</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;">Pricing roll out is equally if not more as crucial as the
pricing model itself. A lot of internal and external training needs to happen
before new pricing can be rolled out. Consider the following as part of new
pricing roll out preparedness:<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;"><br /></span>
<br />
<div style="text-indent: 0px;">
<span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">1. Overall roll out plan with departmental
ownership. Timing of rolling out of
pricing changes is critical. Make sure that it’s not in or just before the time
when you get the most orders (busy season, if there’s one for Company’s
business). There is enough time to explain changes as necessary to the high
value customers.</span></div>
</div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;"><br /></span>
<br />
<div style="text-indent: 0px;">
<span style="text-indent: -18pt;">2. </span><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Marketing:</span></div>
</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo7; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">a.
<!--[endif]-->Website<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo7; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">b.
<!--[endif]-->FAQ<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo7; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">c.
<!--[endif]-->Pricing collateral<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo7; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">d.
<!--[endif]-->Checkout process (if there is one used for
online purchase)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo7; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">e.
<!--[endif]-->Video (why is the change being made and how it
impacts you – the customer)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo7; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">f.
<!--[endif]-->A-B testing readiness<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;"><br /></span>
<br />
<div style="text-indent: 0px;">
<span style="text-indent: -18pt;">3. </span><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Product:</span></div>
</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo7; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">a.
<!--[endif]-->Incase there are features that need to be added
to ensure correct pricing<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;"><br /></span>
<br />
<div style="text-indent: 0px;">
<span style="text-indent: -18pt;">4. </span><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Sales and Support:</span></div>
</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo7; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">a.
<!--[endif]-->Updating sales and support process<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo7; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">b.
<!--[endif]-->Training sales and support team<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo7; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">c.
<!--[endif]-->FAQ (internal and external)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo7; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">d.
<!--[endif]-->Special process for High Value customers<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo7; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">e.
<!--[endif]-->Process for breaking the news<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l0 level3 lfo7; mso-text-indent-alt: -9.0pt; text-indent: -108.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;"> i. <!--[endif]-->Email<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l0 level3 lfo7; mso-text-indent-alt: -9.0pt; text-indent: -108.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;"> ii. Phone<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l0 level3 lfo7; mso-text-indent-alt: -9.0pt; text-indent: -108.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;"> iii. In-person
<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;"><br /></span>
<br />
<div style="text-indent: 0px;">
<span style="text-indent: -18pt;">5. </span><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Setting benchmarks: It is essential to capture
benchmarks before rolling out new pricing, so that impact of pricing can be
checked objectively. Here are some of the benchmarks to that can be captured:</span></div>
</div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo7; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">a.
<!--[endif]-->Lead Generation benchmark<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l0 level3 lfo7; mso-text-indent-alt: -9.0pt; text-indent: -108.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;"> i. <!--[endif]-->Number
of leads / week / geo<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l0 level3 lfo7; mso-text-indent-alt: -9.0pt; text-indent: -108.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;"> ii. Average
deal size by vertical<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l0 level3 lfo7; mso-text-indent-alt: -9.0pt; text-indent: -108.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;"> iii. Type
of leads (lead mix)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l0 level3 lfo7; mso-text-indent-alt: -9.0pt; text-indent: -108.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;"> iv. Lead
sources<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo7; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">b.
<!--[endif]-->Sales and Support Cycle benchmark<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l0 level3 lfo7; mso-text-indent-alt: -9.0pt; text-indent: -108.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;"> i. <!--[endif]-->Time
to close deals<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l0 level3 lfo7; mso-text-indent-alt: -9.0pt; text-indent: -108.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;"> ii. Competitive
references during price negotiations <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l0 level3 lfo7; mso-text-indent-alt: -9.0pt; text-indent: -108.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;"> iii. Number
of price discussions when closing deals <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l0 level3 lfo7; mso-text-indent-alt: -9.0pt; text-indent: -108.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;"> iv. Feature
usage by customers<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l0 level3 lfo7; mso-text-indent-alt: -9.0pt; text-indent: -108.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;"> v. Number
and type of support queries<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo7; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;">c.
<!--[endif]-->Revenue benchmark<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l0 level3 lfo7; mso-text-indent-alt: -9.0pt; text-indent: -108.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;"> i. <!--[endif]-->Revenue
by Geo and by Vertical<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l0 level3 lfo7; mso-text-indent-alt: -9.0pt; text-indent: -108.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;"> ii. Revenue
by Customer segment<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: 108.0pt; mso-add-space: auto; mso-list: l0 level3 lfo7; mso-text-indent-alt: -9.0pt; text-indent: -108.0pt;">
<!--[if !supportLists]--><span style="font-family: Arial, Helvetica, sans-serif;"> iii. Changes
to customer segment mix<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;">Once the pricing is rolled out, either to pilot group, or to
everyone, the impact of pricing must be tracked. There are a number of ways to
track impact:</span><br />
<span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;"><br /></span>
<br />
<ol style="text-align: left;">
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Collect the KPIs and compare them against the
benchmark</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Get on call / emails with customers to get their
reaction</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Use the data from A-B testing to track change in
customer behavior</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Take corrective measure as necessary</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif; text-indent: -18pt;">Keep track of macro-economic changes as well,
which may coincide with pricing rollout.</span></li>
</ol>
</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-family: Arial, Helvetica, sans-serif;">So before you take on the pricing exercise, ensure you the
have time and resources to do justice to it…<o:p></o:p></span></div>
<!--EndFragment--><br /></div>
Aditya Bhelandehttp://www.blogger.com/profile/03088601980349331305noreply@blogger.com0Pune, Maharashtra, India18.5204303 73.85674369999992518.2795358 73.534020199999929 18.7613248 74.17946719999992tag:blogger.com,1999:blog-3340229781770794033.post-9149822553045238062014-03-20T18:59:00.001+05:302014-03-20T18:59:37.932+05:30Interaction with Students at Sunstone Business School<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<h1 class="entry-title">
Being all in one: product manager and concept of product management</h1>
<br />
<div class="entry-content">
<div style="border-bottom-color: #eeeeee; border-bottom-style: solid; border-bottom-width: 1px; border-top-color: #eeeeee; border-top-style: solid; border-top-width: 1px; padding: 10px 5px; text-align: justify;">
<em><strong>Takeaways from Guest Sessions by our student Milind Shirolkar</strong><br /> Guest: <a href="http://www.linkedin.com/in/adityabhelande" target="_blank">Aditya Bhelande</a>, Founder of Yukta – a product consulting firm</em></div>
<div style="text-align: justify;">
<span style="line-height: 1.5em;">Product management is one of prime
focused elective courses here in Sunstone; Sunstone brings in live
experienced individuals to share expert insights in this area.</span><br />
<span style="line-height: 1.5em;">Theme of Session was well poised of
explaining concepts of product management: product strategy, product
marketing, and product development. Mrityunjay, a senior Sunstone
faculty, shared his views on role and responsibility of project manager.
Mrityunjay also pointed out that a Product manager or a VP-product is a
Mini-CEO of the organization. He is jack of all trades and intensively
involved right from product grouting to product launch into the market.
He also manages the support, continues improvement and reengineering of
existing products.</span><br />
<span style="line-height: 1.5em;">Session was also involved in some
brain-storming examples around digital marketing products such flash
ads, social media marketing products. Here are some examples we worked
on</span><br />
<ul>
<li>Credit card, COD , net banking tool for e-commerce site design and operating and marketing model for such a product</li>
<li>Flash and road block ads in websites today, design and market model around such digit marketing products</li>
</ul>
Second half of the session was about interaction with <strong>Aditya Belande</strong>: <em>founder of Yukta a product consulting firm.</em> Aditya
comes with 13 years’ experience in product management as product
manager worked for many multi-national companies and some very
innovative products<br />
Aditya is a very witty and street smart person explained us the
ground realities of a product manager, his behaviour and commitment
required to the role.<br />
His slides explained, product manager basically is<br />
<ul>
<li>Market orientated: Find opportunities, communicate with customers and prospective customer</li>
<li>Researcher: Builds data cases, Identify business problems and find solutions</li>
<li>Architect: Define Solution layers, features and operating procedures</li>
<li>Diplomat: Works with Sales, quality, engineering, operations, and customer services teams to align them to one goal.</li>
</ul>
Overall session left us with aura of excitement in field of product
management and challenging role of a product manager and also guided us
to crave road to become successful project manager in the near future .<br />
<br />
<br />
<div style="text-align: left;">
<a href="http://sunstone.in/management-program/2014/02/being-all-in-one-product-manager-and-concept-of-product-management/" target="_blank">Link to original article.</a></div>
<br />
<span style="line-height: 1.5em;"></span></div>
</div>
</div>
Aditya Bhelandehttp://www.blogger.com/profile/03088601980349331305noreply@blogger.com0tag:blogger.com,1999:blog-3340229781770794033.post-36305233912012595222014-02-16T19:31:00.000+05:302014-05-03T13:51:40.614+05:30Experiences of a Product Manager<div dir="ltr" style="text-align: left;" trbidi="on">
<iframe allowfullscreen="" frameborder="0" height="356" marginheight="0" marginwidth="0" scrolling="no" src="http://www.slideshare.net/slideshow/embed_code/31261474" style="border-width: 1px 1px 0; border: 1px solid #CCC; margin-bottom: 5px; max-width: 100%;" width="427"> </iframe> <br />
<div style="margin-bottom: 5px;">
<strong> <a href="https://www.slideshare.net/AdityaBhelande/what-a-product-manager-needs-to-know" target="_blank" title="What a Product manager needs to know...">What a Product manager needs to know...</a> </strong> from <strong><a href="http://www.slideshare.net/AdityaBhelande" target="_blank">Aditya Bhelande</a></strong> </div>
<br /></div>
Aditya Bhelandehttp://www.blogger.com/profile/03088601980349331305noreply@blogger.com0tag:blogger.com,1999:blog-3340229781770794033.post-74748088437826139302013-11-10T15:35:00.000+05:302013-11-10T15:35:48.829+05:30Tips for Engaging with ‘Sage on the Stage’<div dir="ltr" style="text-align: left;" trbidi="on">
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<div class="MsoNormal">
In the age of Internet, trends change faster than blink of
an eye and businesses are evolving faster than ever. By the time you realize
that a technology or business trend is emerging, something else is already come
up to disrupt the situation that quickly makes the business / technology plans you
are thinking of, look obsolete.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
This continuous churn creates challenges for entrepreneurs
who may quickly get disoriented and confused. In order to demystify this churn,
and make sense out of it, the entrepreneur begins to reach out to the ‘Sages’.
Which begs the question, who are these Sages? These Sages can come under
various names, such as Mentors, Advisors, Experts and so on….</div>
<div class="MsoNormal">
<o:p><br /></o:p></div>
<div class="MsoNormal" style="text-align: center;">
<o:p><img class="rg_i" data-sz="f" name="EDd96lZ57KPWBM:" 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" style="margin-left: 0px; margin-right: 0px; margin-top: 0px;" /> </o:p></div>
<div class="MsoNormal">
Now, as an informed entrepreneur, it’s your responsibility
to really understand how, when and what to engage these Sages on. You may
approach one of these Sages for…</div>
<div class="MsoNormal">
</div>
<ul style="text-align: left;">
<li><span style="text-indent: -18pt;">Getting highlight level perspective on a
specific problem</span></li>
<li><span style="text-indent: -18pt;">Engage them for solving specific business /
technology problems</span></li>
<li><span style="text-indent: -18pt;">Getting connected with the right people in the
Industry, etc.</span></li>
</ul>
<br />
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<o:p></o:p></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
But as you think of engaging with Sage, I would suggest that
you think of one, more or all of these things, so that you get best and most
out of the engagement with the Sage. And it’s a fulfilling experience for both
of you...</div>
<div class="MsoNormal">
<span style="text-indent: -18pt;"><br /></span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="text-indent: -18pt;">1. Think about what you want from the Sage: The
input that you are going to get is going to be directly related to what and how
you ask for it. Hence, define your ask as crisply as possible. This will
prevent getting vague answers and keep the discussion focused. Another thing
that will help, is, setting the context / background of where you are coming
from and where you want to go as person and a company. Remember that right
conditions are required for the catalyst to create a catalytic reaction. Therefore
before you decide to engage, think about the following aspects of the
engagement model:</span></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l1 level1 lfo2; text-indent: -18.0pt;">
<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level2 lfo2; text-indent: -18.0pt;">
<!--[if !supportLists]-->a.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span><!--[endif]-->Time spent: How much time is the Sage expected
to spend with you during the engagement? Is that time being spent in once a
week meeting or on-going email communication? What is the protocol to respond
to urgent issues where help / guidance is needed?<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level2 lfo2; text-indent: -18.0pt;">
<!--[if !supportLists]-->b.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span><!--[endif]-->Expected out come: What is expected out from the
engagement? Is it only soft conversation or are there are any specific
deliverables?<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level2 lfo2; text-indent: -18.0pt;">
<!--[if !supportLists]-->c.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span><!--[endif]-->Onsite / Off-site: Is the Sage supposed to be
onsite for specific duration? Or is it a virtual engagement? What is the impact
of that on the outcome of the engagement?<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level2 lfo2; text-indent: -18.0pt;">
<!--[if !supportLists]-->d.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span><!--[endif]-->Payment: Is it a retainer model with cash +
equity / cash only / equity? Or is it milestone / deliverables based?<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level2 lfo2; text-indent: -18.0pt;">
<!--[if !supportLists]-->e.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span><!--[endif]-->Duration: What’s the duration of the engagement?
What would be the minimum amount of time to figure out if the engagement is
working as expected or not? Will it be sufficiently long for something
meaningful to come out of it?<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level2 lfo2; text-indent: -18.0pt;">
<!--[if !supportLists]-->f.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span><!--[endif]-->Activities (core / non-core): Which activities
will the Sage spend most time on? What are some of the associated auxiliary
activities that you may want the Sage to focus on?<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level2 lfo2; text-indent: -18.0pt;">
<!--[if !supportLists]-->g.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span><!--[endif]-->Primary point of contacts: Who would be the
primary point of contacts for engaging with Sage, so that Sage is not getting
distracted?<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level2 lfo2; text-indent: -18.0pt;">
<!--[if !supportLists]-->h.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span><!--[endif]-->Communication methods: Given that Sages are busy
people and communication methods like emails are abused, its best to discuss
the communication method with the Sage for various type of activities? When
would the Sage prefer phone to email or in-person meeting and vice-versa?<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level2 lfo2; text-indent: -18.0pt;">
<!--[if !supportLists]-->i.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span><!--[endif]-->Effectiveness metrics: Aspect of measurement
should always be nailed down upfront, so that you can prevent having a
conversation like… “I engaged with this Sage, but after 3 months I really don’t
know what I got out of the engagement.” But as a person / company engaging with
the Sage, you must know what you want out of it and how you are going to
measure it, otherwise you will never know.<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto;">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l1 level2 lfo2; text-indent: -18.0pt;">
<!--[if !supportLists]-->j.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span><!--[endif]-->Exit criteria: Knowing the exit criteria is as
critical if not more than the entry criteria. Cause’ that is what, is going to
decide the success or failure of the engagement with Sage. Hence think about
when and how you would want to exit the engagement with the Sage.<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="text-indent: -18pt;"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="text-indent: 0px;">
<span style="text-indent: -18pt;">2. Research the background of the Sage: Knowing the
background ahead of time will help you in really understanding if the Sage can
possibly provide you with the information that you are looking for. For
example, if you are looking for business vertical specific information, then
find a Sage that has deep background in that vertical and can connect you with others
in that vertical. Talk to people and research to find out experience that the
Sage has in solving business problems. Understand the scale of problems that
the Sage has been a part of. Once you know what you are looking for in a Sage,
it will help you immensely in identifying the right one directly or with the
help of people.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l1 level1 lfo2; text-indent: -18.0pt;">
<o:p></o:p></div>
<div class="MsoListParagraphCxSpMiddle">
<span style="text-indent: -18pt;"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="text-indent: 0px;">
<span style="text-indent: -18pt;">3. Use the Sage’s time wisely: ‘Time is Money’
couldn’t be more true in case of your engagement with the Sage. This is because
Sages are always time crunched and so are you, especially if you a Startup
entrepreneur. Hence, think about how and where you would want Sage to spend
their time. Otherwise you will end up being in a situation, where clock is
rapidly ticking but value you are extracting from the Sage is minimal and below
your expectations. To prevent getting into this situation, make a list of all
the activities that you would want the Sage to be part of. Prioritize those
activities based on your needs. After that review those with the Sage, so that
you will know where you can leverage Sage’s time most effectively. Perform this
activity with rigor every once a week or fortnight and you should be able to
get best and most out of the Sage’s time.</span></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l1 level1 lfo2; text-indent: -18.0pt;">
<o:p></o:p></div>
<div class="MsoNormal">
<span style="text-indent: -18pt;"><br /></span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="text-indent: -18pt;">4. Don’t abuse the Sages capabilities: There are a
number of conversation which I have been a part of, where the Sage is asked to
provide commentary on a topic that the Sage is not an expert on. Most Sages at
that point will provide some high-level insights and stop at that. But there
are a few that you should be aware of. The ones that provide misguiding advice
in the hopes of squeezing more business from their clients. But as a person
seeking advice, you must also be cautious of not providing encouragement for
such conversations. Use your judgment wisely to save time, money and preventing
yourself going on a wild goose chase based on misguided advice.</span></div>
<div class="MsoListParagraph" style="mso-list: l1 level1 lfo2; text-indent: -18.0pt;">
<o:p></o:p></div>
<div class="MsoNormal">
<span style="text-indent: -18pt;"><br /></span></div>
<div class="MsoNormal" style="text-indent: 0px;">
<span style="text-indent: -18pt;">5. Don’t look for a Silver Bullet: As a Company /
Person soliciting Sage’s advice, it’s your responsibility to not expect Silver
Bullet answers from Sages for your business situations. In all probability, as a
person who is in the middle of the situation, you have a better understanding
of the situation. Leverage the Sage’s input as independent 3</span><sup style="text-indent: -18pt;">rd</sup><span style="text-indent: -18pt;"> party
perspective to see if you have missed anything from data or problem-solving
perspective. Also, know that what the Sage is known for may not work for you.
There might be some useful pointers there, but everything the Sage knows may
not be always fully applicable to your situation. If you expect answers that
will solve your problems then, you would have set wrong expectations and
measure the Sage’s effectiveness on the wrong scale. This would be an injustice
for both you and the Sage.</span></div>
<div class="MsoListParagraph" style="mso-list: l1 level1 lfo2; text-indent: -18.0pt;">
<o:p></o:p></div>
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<br /></div>
<div class="MsoNormal">
So as you begin your journey of looking for the Sage take
these pointers into considerations and share you experiences…</div>
</div>
Aditya Bhelandehttp://www.blogger.com/profile/03088601980349331305noreply@blogger.com0Pune, Maharashtra, India18.5204303 73.85674369999992518.2795348 73.534020199999929 18.7613258 74.17946719999992tag:blogger.com,1999:blog-3340229781770794033.post-25074133033119707552013-08-15T23:05:00.000+05:302013-08-15T23:05:20.851+05:30Are you asking the right questions?<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal">
Similar to the Chief Executive (CEO) of a company, a Product
Manager should also question the process that goes into the creation of a
product / service. Treating the organization like a living and breathing
creature, a Product Manager should have in-depth understanding of the workings
of its vital organs that are responsible for the following:</div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: left;">
<a href="http://4.bp.blogspot.com/-D1FkZQVNNJc/Ug0ND-wHLAI/AAAAAAAABmI/2rDcwd3iDLc/s1600/questions.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="196" src="http://4.bp.blogspot.com/-D1FkZQVNNJc/Ug0ND-wHLAI/AAAAAAAABmI/2rDcwd3iDLc/s200/questions.jpg" width="200" /></a><span style="font-size: 7pt; text-indent: -0.25in;"> </span></div>
<div class="separator" style="clear: both; text-align: left;">
</div>
<ol style="text-align: left;">
<li><span style="text-indent: -0.25in;">Listening to external and internal business related signals</span></li>
<li><span style="text-indent: -0.25in;">Analyzing </span><span style="text-indent: -0.25in;"> </span><span style="text-indent: -0.25in;">the impact of the data signals collected from external and internal sources</span></li>
<li><span style="text-indent: -0.25in;">Taking appropriate actions based on impact analysis</span></li>
<li><span style="text-indent: -0.25in;">Measuring the effectiveness of the actions</span></li>
</ol>
<br />
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If one or more of these vital functions are
broken, then the organization cannot function at its peak capacity and may
succumb to the dynamic business environment. One of the most critical questions
to ask in any situation is…’What does it mean?’ ‘it’ could be an data point or
an event or any other external /
internal stimulus. Then look at ‘it’ from different perspectives such as:</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .75in; mso-add-space: auto; mso-list: l4 level1 lfo7; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]-->What does it mean from business perspective?</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .75in; mso-add-space: auto; mso-list: l4 level1 lfo7; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]-->What does it mean from revenue perspective?</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .75in; mso-add-space: auto; mso-list: l4 level1 lfo7; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]-->What does it mean from process perspective?</div>
<div class="MsoListParagraphCxSpLast" style="margin-left: .75in; mso-add-space: auto; mso-list: l4 level1 lfo7; text-indent: -.25in;">
<!--[if !supportLists]--><span style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]-->What does it mean from marketing perspective?
Etc…</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
This line of questioning will help in the impact analysis
across organization and take appropriate measure to react to the external
stimulus.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
This article focuses on ‘Listen’ and ‘Analyze’ aspect that
has been shown in the virtuous cycle above.</div>
<div class="MsoNormal">
<br /></div>
<h3 style="text-align: left;">
Listening</h3>
<div class="MsoNormal">
A Product Manager should tap into and harvest as many
sources of information as possible. Getting external business signals is not
only a function of number of sources but also the frequencies with these
sources are tapped into. It’s the continuous ‘chatter’ that really matters.
Collecting information once in a while is not sufficient and may lead to
incomplete information. Here are some of the questions that must be asked when
validating the data collected from sources of listening:</div>
<div class="MsoNormal">
</div>
<ol style="text-align: left;">
<li><span style="text-indent: -0.25in;">What sources of data collection were used?</span></li>
<ul>
<li><span style="font-size: 7pt; text-indent: -0.25in;"> </span><span style="text-indent: -0.25in;">Internal</span></li>
<ul>
<li><span style="text-indent: -1.5in;">Customer service</span></li>
<li><span style="text-indent: -1.5in;">Marketing</span></li>
<li><span style="text-indent: -1.5in;">Sales, etc</span></li>
</ul>
<li><span style="text-indent: -0.25in;">External</span></li>
<ul>
<li><span style="text-indent: -1.5in;">Customers</span></li>
<li><span style="text-indent: -1.5in;">Competition</span></li>
<li><span style="font-size: 7pt; text-indent: -1.5in;"> </span><span style="text-indent: -1.5in;">Industry experts</span></li>
<li><span style="font-size: 7pt; text-indent: -1.5in;"> </span><span style="text-indent: -1.5in;">Company executives</span></li>
<li><span style="text-indent: -1.5in;">Partners, etc</span></li>
</ul>
</ul>
<li><span style="text-indent: -0.25in;">How recent is the data?</span></li>
<li><span style="font-size: 7pt; text-indent: -0.25in;"> </span><span style="text-indent: -0.25in;">How frequently was this data collected?</span></li>
<li><span style="text-indent: -0.25in;">Which systems were leveraged to pull the data
from? (e.g CRM)</span></li>
<li><span style="font-size: 7pt; text-indent: -0.25in;"> </span><span style="text-indent: -0.25in;">How many direct customer inputs does this data
include?</span></li>
<ul>
<li><span style="font-size: 7pt; text-indent: -0.25in;"> </span><span style="text-indent: -0.25in;">How valuable are these customers to the business?</span></li>
<li><span style="font-size: 7pt; text-indent: -0.25in;"> </span><span style="text-indent: -0.25in;">Which revenue and vertical segments do they
belong to?</span></li>
</ul>
<li><span style="font-size: 7pt; text-indent: -0.25in;"> </span><span style="text-indent: -0.25in;">How frequently was the data processed and conclusions
from that data refreshed?</span></li>
<li><span style="font-size: 7pt; text-indent: -0.25in;"> </span><span style="text-indent: -0.25in;">Who has reviewed this data prior to being
getting used in the road mapping process?</span></li>
</ol>
<h3 style="text-align: left;">
Inside Out Data Collection </h3>
<div>
<div class="MsoNormal">
Product Manager doesn’t necessarily have to wait for signals to come
from outside. In order to be on the top of the game the Product Manager can
also initiate ‘Inside Out’ process for getting the pulse of the market and
business environment. For example during the process of building business case
for new feature / product or when conceptualizing solution at the time of
writing PRD, the Product Manager can reach out to Customers, partners and
internal entities.</div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: left;">
<a href="http://2.bp.blogspot.com/--ggY2Bn6IO8/Ug0NbTFZUlI/AAAAAAAABmQ/GjAtYVYREqk/s1600/outside-in.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="105" src="http://2.bp.blogspot.com/--ggY2Bn6IO8/Ug0NbTFZUlI/AAAAAAAABmQ/GjAtYVYREqk/s320/outside-in.jpg" width="320" /></a></div>
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<br /></div>
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These are some of the questions that a Product Manager must
ask of him / team in order to ensure inside out approach of data collection:</div>
<div class="MsoListParagraphCxSpFirst" style="text-align: left; text-indent: -0.25in;">
</div>
<ol style="text-align: left;">
<li><span style="text-indent: -0.25in;">How many customers were involved in PRD process?</span></li>
<li><span style="text-indent: -0.25in;">How frequently were the customers contacted?</span></li>
<li><span style="text-indent: -0.25in;">How many of those customers are expected to use
the feature / product after it’s rolled out?</span></li>
<li><span style="text-indent: -0.25in;">How many customers are holding their breath for
the feature to be rolled out?</span></li>
<li><span style="text-indent: -0.25in;">How many prospects are cancelling deals for the
feature?</span></li>
<li><span style="text-indent: -0.25in;">In which revenue and value bands do these
Customers fall under?</span></li>
<li><span style="text-indent: -0.25in;">How the does the actual customer interactions
compare with planned customer interactions?</span></li>
</ol>
<!--[if !supportLists]--><br />
<div class="MsoNormal">
Other entities within the organization that can use the
Inside out approach are Marketing and Sales teams. For example Marketing team
can involve Customers in the process of creating case studies and white papers.</div>
<div class="MsoNormal">
<br /></div>
<h3 style="text-align: left;">
Analyze Impact (immediate, medium and long term)</h3>
<div>
Once the data is collected and processed the next critical
activity is to analyze the impact of that on the various aspects of the
organization. Understanding only the Product impact is not sufficient. A
holistic organization impact assessment should be done. The impact assessment
questions that follow can be asked to:</div>
<div class="MsoListParagraphCxSpFirst" style="text-align: left; text-indent: -0.25in;">
</div>
<ul style="text-align: left;">
<li><span style="text-indent: -0.25in;">Assess the impact of external events such as a
competitor make announcements or change in industry regulations, etc.</span></li>
<li><span style="font-family: Symbol; text-indent: -0.25in;"><span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="text-indent: -0.25in;">Assess the impact of features on roadmap, etc.</span></li>
</ul>
<!--[if !supportLists]--><br />
<div class="MsoNormal">
The goal is to really get a thorough understanding of the
impact of external and internal events on the business.</div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l3 level1 lfo2; text-indent: -.25in;">
</div>
<ol style="text-align: left;">
<li><span style="text-indent: -0.25in;">What is the revenue impact?</span></li>
<li><span style="text-indent: -0.25in;">What is the customer acquisition impact?</span></li>
<li><span style="text-indent: -0.25in;">What is the customer relationship impact?</span></li>
<li><span style="text-indent: -0.25in;">What is the new vertical (market) impact?</span></li>
<li><span style="text-indent: -0.25in;">What is the impact on strengthening position in
the existing verticals?</span></li>
<li><span style="text-indent: -0.25in;">Impact on brand value of the company?</span></li>
<li><span style="text-indent: -0.25in;">What is the impact on employee skills
acquisition?</span></li>
<li><span style="text-indent: -0.25in;">What is the marketing impact?</span></li>
<ul>
<li><span style="font-size: 7pt; text-indent: -0.25in;"> </span><span style="text-indent: -0.25in;">Case study</span></li>
<li><span style="font-size: 7pt; text-indent: -0.25in;"> </span><span style="text-indent: -0.25in;">White paper</span></li>
<li><span style="font-size: 7pt; text-indent: -0.25in;"> </span><span style="text-indent: -0.25in;">References, etc</span></li>
</ul>
<li><span style="text-indent: -0.25in;">How does the roadmap help plug competitive gaps?</span></li>
<ul>
<li><span style="font-size: 7pt; text-indent: -0.25in;"> </span><span style="text-indent: -0.25in;">Fill gap</span></li>
<li><span style="font-size: 7pt; text-indent: -0.25in;"> </span><span style="text-indent: -0.25in;">Create gap</span></li>
</ul>
<li><span style="text-indent: -0.25in;">How does the roadmap help displace competition?</span></li>
<li><span style="text-indent: -0.25in;">How does the roadmap help create though leadership?</span></li>
<li><span style="text-indent: -0.25in;">How does the roadmap differentiation from the
competition?</span></li>
<li><span style="text-indent: -0.25in;">What Sales and Support changes need to be made?</span></li>
<li><span style="text-indent: -0.25in;">What Marketing changes need to be made?</span></li>
<li><span style="text-indent: -0.25in;">What changes need to be made to the Product
development plan?</span></li>
</ol>
<br />
<div class="MsoNormal">
I’m sure most readers can add to this list of questions and
make it even richer and actionable for Product Managers. Remember the path to the right solutions
begin by asking the right questions…</div>
</div>
</div>
Aditya Bhelandehttp://www.blogger.com/profile/03088601980349331305noreply@blogger.com0Pune, Maharashtra, India18.5204303 73.85674369999992518.2795348 73.534020199999929 18.7613258 74.17946719999992tag:blogger.com,1999:blog-3340229781770794033.post-15854011601638562232013-07-07T19:07:00.001+05:302013-07-07T19:07:18.636+05:30The best decision to press forward... till now....<div dir="ltr" style="text-align: left;" trbidi="on">
May people support underprivileged kids in different ways directly or though non-profit organizations. I have always dreamt of supporting kids education, especially for underprivileged kids. But, it was not until yesterday, I really understood the meaning of what I was after and the impact of even the smallest things that you can do for the underprivileged kids.<br />
<br />
Yesterday, on a typical rainy monsoon day, my family and I started our 150 Km journey to a very small town on Bombay- Goa highway. My Aunt has been helping the schools in the region by providing books, bags and other necessary things. She found yet another school that could use some help. We talked to the teacher to identify their needs and decided to visit them with stuff that would fulfill their needs (books, pencils, sharpeners, erasers, rulers and bags for 25 kids enrolled in a government sponsored school.).<br />
<br />
There are many routes to reach the small town that go across <a href="http://en.wikipedia.org/wiki/Western_Ghats" target="_blank">Western ghats</a> in Maharashtra. In favor of shorter distance we decided to take the one that goes through <a href="http://en.wikipedia.org/wiki/Tamhini_Ghat" target="_blank">Tamhini ghat</a>. I had heard that the road is not very great and few villages on the way. We started from our place enthusiastically at 8:30 AM in the morning. By the time we had just reached the out skirts for Pune, I had started questioning my decision of opting for shorter route with bad roads for longer one with better roads. In some patches the roads barely existed. It was mostly loose gravel. In most places the notion of tar road was limited to the decorative rim of pot holes! After driving on such roads for about an hour we started driving up the Tamhini ghat. It had started raining and dark clouds every where. There were sheer cliffs with waterfalls on one side and deep ravines on the other. The roads didn't get any better and the curvy uphill made things go from bad to worse. At 10 AM in the morning it felt like evening with not a soul to be seen on the very lightly travelled road. In hind sight, now I know why the road is lightly travelled. And as all of this was not enough, my younger song got car sick. We pulled over in the middle of that uphill road, luckily in front of a small waterfall.<br />
<br />
And at that point, me and my wife both thought that we have had enough of the treacherous journey and it was time for us to turn back. We didn't know if we could survive the bumpy road ahead with the possibility of weather taking the turn for the worse. But, then there were 25 kids waiting for us. 25 kids who would most probably be deprived of a whole years worth of school supplies. But then, was it worth taking the risk? Not knowing the path between where we were and the school itself. We had not even reached the top of the ghat and there was not a soul around if the car was to break down. We were still hour and a couple of hours away from our destination. We cleaned up quickly and got in the car and decided to take U turn back to Pune. As I turned on the car ignition, we looked at each other and without saying any words just nodded to press on with our journey towards the school.<br />
<br />
As we kept moving forward, in about 15 mins we reach the top of the ghat and after that quality of the road had suddenly improved. All the way down the ghat and till we reached the school the roads were very good. <br />
<br />
We finally reached the school which was just of off the Bombay-Goa highway. It had stopped raining but humidity had caught up with us. We were sweating profusely. The school was a small building with 3 rooms. One was principals office and two other were class rooms. It was a government funded school which gets around Rs. 400 per student per year. This amount isnot enough and leaves number of schools and student needs unfulfilled. Std. I, II and III were grouped together and Std. IV was separate. There were about 15 kids in the class and it had been decorated with whatever had been donated to the school. There was no electricity since the school didn't have funding ( or may be the funds didn't' reach the school). So the kids were sitting in a naturally lit semi-lit classroom. The teacher and kids were very happy to see us. My kids and their cousin started distributing the bags, sweets and biscuits to the kids. They were ecstatic to get these. We gave the books to the teacher for distribution and also gave her money to pay off the electricity bill so that they can get electricity turned on in the school. <br />
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<a href="http://3.bp.blogspot.com/-BSs2hllm3fQ/UdludBTUPpI/AAAAAAAABlg/UdXVlGD6f9k/s1600/IMG-20130705-00068.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="http://3.bp.blogspot.com/-BSs2hllm3fQ/UdludBTUPpI/AAAAAAAABlg/UdXVlGD6f9k/s1600/IMG-20130705-00068.jpg" height="320" width="240" /></a><a href="http://3.bp.blogspot.com/-8a8p0_hZgmY/Udluk6BVGII/AAAAAAAABlo/7E4FXu0mtKk/s1600/IMG-20130705-00077.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://3.bp.blogspot.com/-8a8p0_hZgmY/Udluk6BVGII/AAAAAAAABlo/7E4FXu0mtKk/s1600/IMG-20130705-00077.jpg" height="320" width="240" /></a></div>
<br />
Some background about these kids who were enrolled in the school. Their parents worked in the nearby farms or construction sites. Kids attending this school attend till their parents are around till end of farming season (October/November). After that their parents move to different places to find temporary work. The kids go along with them not knowing if there will be another school in the new place. In case there are schools in the new place they attend, if not then take care of their siblings or spend their time at construction site or any of their parents place of occupation. Come June, they are back to the school, if the school is still functional! Cause their parents are back working in the farms.<br />
<br />
Even with all the unpredictability, chaos, deprivation of basic kids life and many other horrible things that may be happening to them, there's still that sparkle...that ray of hope...that human nature to forget all the bad and enjoy the present when good things happen...that willingness to share with friends even in the most dire and desperate circumstances. These kids are an inspiration,they teach us the valuable lesson of hope, sharing and living in the present. <br />
<br />
We ended up spending roughly around Rs. 6,000 to set the students up for their annual needs. My Aunt paid roughly Rs. 4,000 for their electricity bill so that they get electricity turned on in the school. This is not a lot of money for most middle and upper middle class people. They will spend Rs. 4,000 - 5,000 for a dinner in fancy restaurant. That same money spent once a year can help take our nation one step at a time.<br />
<br />
All in all, as I look back to that point in Tamhini ghat, where everything looked dark, treacherous and unknown...where we had almost decided to take the U turn back to Pune, I'm glad to have taken the spurn-of-the-moment instinctive decision to press forward with our journey to reach the school...it opened our doors to new and meaningful experience!</div>
Aditya Bhelandehttp://www.blogger.com/profile/03088601980349331305noreply@blogger.com3Pune, Maharashtra, India18.5204303 73.85674369999992518.5204303 73.856743699999925 18.5204303 73.856743699999925tag:blogger.com,1999:blog-3340229781770794033.post-27738344035169268252013-06-16T22:07:00.000+05:302013-06-16T23:27:49.065+05:30Leadership and the Art of Pruning<div dir="ltr" style="text-align: left;" trbidi="on">
My Mother is an avid gardener. Even in a small place around
our house she plants all sorts of things, flowers, veggies, etc. There are
seasonal plants and then there are perennial plants that have been in the
garden forever. These perennial plants typically are the ones that grow tall
and wide.<br />
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<a href="http://3.bp.blogspot.com/-yH2EOpc_s5c/Ub3nQOL2l4I/AAAAAAAABlE/oBYcH1LiAs0/s1600/woman_pruning.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://3.bp.blogspot.com/-yH2EOpc_s5c/Ub3nQOL2l4I/AAAAAAAABlE/oBYcH1LiAs0/s1600/woman_pruning.jpg" /></a></div>
I have always loved
the way make their presence felt in the garden, providing shadow in the summer
and breaking winds during the storms. One of the things that I hated was my Mother
cutting these trees. And by cutting I don’t mean from the roots but just
pruning them. Recently, I decided to strongly register my protest with her
regarding her tree pruning activity. It was at that time she explained to me
the criticality of tree pruning activity. After listening to her about the reasons and
process of tree pruning, I couldn't but help think about organizations and the
importance of pruning from a leadership perspective. Like a gardener, a leader must learn and
practice the art and science of pruning talent and associated responsibilities
in his/her organization. Pruning of talent and responsibilities can be done in many
ways.<br />
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<br /></div>
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But before the process can begin, there are a couple of things that a Leader needs to take into account:</div>
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</div>
<ol style="text-align: left;">
<li><span style="text-indent: -0.25in;">Goals and reasons behind pruning</span></li>
<li><span style="text-indent: -0.25in;">Using the right pruning tools</span></li>
<li><span style="font-size: 7pt; text-indent: -0.25in;"> </span><span style="text-indent: -0.25in;">Pruning timing</span></li>
</ol>
<br />
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Let’s examine some of the pruning opportunities that
typically show up in every organization. This information should provide you with some
basic directional knowledge about organizational talent and responsibilities of pruning.</div>
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<br /></div>
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo2; text-indent: -.25in;">
<!--[if !supportLists]-->1.<span style="font-size: 7pt;">
</span><!--[endif]--><b>The Floaters:</b> These are employees who
have been in the organization for a while and have tried their hands on
different roles and associated activities. Their role seems to change every 6
months to a year, in some cases moving from one team to another. Unless as a leader you have a hand in these changes, this is a tell-tell sign of an area
where pruning is needed. It’s best to have a heart to heart conversation in
such situation with the concerned employee to find out the appropriate solution.</div>
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<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-indent: -.25in;">
<!--[if !supportLists]-->2.<span style="font-size: 7pt;">
</span><!--[endif]--><b>The Over Shadowers:</b> These are the
employees who dwarf everyone with their presence in the team, in a negative
manner. It is always good to have mentors who are the guiding post in the
teams. But as Leader, your responsibility is to ensure those same people don’t
start over shadowing junior less experienced team members. The symptoms of over
shadowing are very clearly seen, for example:</div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-indent: -.25in;">
</div>
<ul style="text-align: left;">
<li><span style="text-indent: -0.25in;">Same team member name appears everywhere
(typically when things are going good).</span></li>
<li><span style="text-indent: -0.25in;">There are not enough good ideas / innovations
coming from the team.</span></li>
<li><span style="text-indent: -0.25in;">Team starts losing its diversity, especially
in problem solving and operations.</span></li>
</ul>
<br />
<div class="MsoListParagraphCxSpMiddle">
As a leader you should keep getting exposed
to various members from different teams. This will help you in getting better
understanding of ground reality and cut through the political and bureaucratic
mess.</div>
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<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-indent: -.25in;">
<!--[if !supportLists]-->3.<span style="font-size: 7pt;">
</span><!--[endif]--><b>The ‘Single-Point-of-Failure’ Experts (aka
bottlenecks):</b> Everyone loves to be the expert on a particular topic /
product functionality / technology as part of their team. It’s good to have
experts – the ‘Go to Guys’. Having them helps team stay ahead of the curve and
reduce the time it takes to solve the problems. But if you keep hearing the
there are projects that are getting delayed due the fact that your ‘Go to Guy’ has
become the bottleneck or the critical issues is not solved because your ‘Go to
Guy’ is out of office, then it time to think of pruning. In a case like this,
pruning can be done be cross training others on various topics or creating
responsibilities sharing with your ‘Go to Guy’, etc.</div>
<div class="MsoListParagraphCxSpMiddle">
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo2; text-indent: -.25in;">
<!--[if !supportLists]-->4.<span style="font-size: 7pt;">
</span><!--[endif]--><b>The Self-Proclaimed Gatekeepers: </b>These
are a one of the most interesting types of people in the organization. These
people almost always show up as long poles when postmortem is preformed on
projects that have gone south. They typically show up last minute to proclaim
their stake on the approval process for the project to move ahead. It’s OK for
such situations to arise once in a while, but if the occurrence is frequent
then as leader you need to address this situation by fixing the process or
people or both. If not addressed in a timely manner this can cause teams to
feel demoralized and pull down team productivity and output speed.</div>
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<br /></div>
<div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo2; text-indent: -.25in;">
<!--[if !supportLists]-->5.<span style="font-size: 7pt;">
</span><b>The Life-Timers:</b> These are employees
who have been in same role for a very long time. More often than not they have
been performing the same job function over a period of time and most of the
time they are very good at performing their job duties. As a leader you,
should be concerned when same type of problems keep coming and are being solved
by the same set of people in the same manner. Irrespective of business impact
that these business problems have, it is critical to examine if such pruning
opportunities can be fixed by more experienced employees or employees from different
business background or by training the life-timers.</div>
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<a href="http://2.bp.blogspot.com/-M0m2kxHDNeE/Ub3nvQ-vwJI/AAAAAAAABlM/4k5QQaoQrtM/s1600/bamboo.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://2.bp.blogspot.com/-M0m2kxHDNeE/Ub3nvQ-vwJI/AAAAAAAABlM/4k5QQaoQrtM/s1600/bamboo.jpg" /></a></div>
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<br /></div>
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This talent and responsibilities pruning activity is an extremely
critical and ongoing process for a leader at any level in the organization. As
the organizations grow and organizations age, the impacts of ignoring pruning
issues can get more chronic. The top leadership should take time and effort to
ensure the other leaders in the organization have tools at their disposal to
identify pruning opportunities and address those opportunities in the timely
manner. </div>
</div>
Aditya Bhelandehttp://www.blogger.com/profile/03088601980349331305noreply@blogger.com1Pune, Maharashtra, India18.5204303 73.85674369999992518.2795348 73.534020199999929 18.7613258 74.17946719999992tag:blogger.com,1999:blog-3340229781770794033.post-70028738313270661362013-05-18T10:17:00.001+05:302013-05-18T10:17:16.125+05:30For Harsha Bhogle - Don't cry for cricket<div dir="ltr" style="text-align: left;" trbidi="on">
<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">This blog is in response to Harsha Bhogle's article in Indian Express: </span><a href="http://www.indianexpress.com/news/dont-cry-for-cricket/1117215/" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;" target="_blank">Don't cry for cricket</a><br />
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Hi! Harsha,</span></div>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">As always a great article. But at this point we need more than just great commentary about the dark times that cricket is facing.</span>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"> </span><br />
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">It is easy for all of us mere mortals (excluding you :) to tell the players to stay away from greed of money. But how can they? There's just too much of it. It's humanly impossible to stay away from it, unless you are the master of your domain. You are dealing here with very basic human tendency - Greed, power and fame. We all have it and the temptation is just too powerful to control. Infact these grown up players are no different from 10 year olds. They see candy and they want it. Who wouldn't?</span>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"> </span><br />
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">There's just too much money being pumped into IPL. It is impossible to separate candy from the game. Cause people who are putting money in IPL are not putting in for the sake of the sport. They are in it for the money. If you ask me, IPL and cricket are two different things. IPL is business and cricket is a sport. Their combination is dangerous and that is what has exactly happened here in the case of match fixing. You tell me otherwise how else are these people (aka investors), who are pumping in Corers of Rs., expected to get their money out?</span>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"> </span><br />
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">So, the focus now has to be on how the candy can be separated form sports? You inherently need some candy since that's also the motivate to make the sport worthwhile. Hence that economic element (candy) has to be there. The key is balancing the candy and protecting the sport from it. What steps can be taken to bring that balance? This is something that the BCCI has to think about. I haven't seen BCCI do anything about the balance, do they even know that such a balance is needed? OR have they succumbed to investors?</span>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"> </span><br />
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">My question to gods of cricket such as GavaskarJi, KapilJi, DarvidJi, SachinJi and others is how get the sport called CRICKET back to life? Please let them know that me, my 10 year old son and my 13 year old niece are waiting for Gods to answers our prayers, just like drought hit farmers wait for rains....</span><br />
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Aditya</span></div>
Aditya Bhelandehttp://www.blogger.com/profile/03088601980349331305noreply@blogger.com0Pune, Maharashtra, India18.5204303 73.85674369999992518.2795348 73.534020199999929 18.7613258 74.17946719999992tag:blogger.com,1999:blog-3340229781770794033.post-57354754736622888942013-05-15T19:38:00.000+05:302013-05-15T19:38:16.352+05:30Stop and Think...And Think Through…<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
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<span style="line-height: 115%;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">One of the
perks that I get as part of leading a company that focuses on starts ups is
that I get to meet with a number of <a href="http://idioms.thefreedictionary.com/eager+beaver">eager beavers</a>.
These are typically founder, co-founders or part of the core startup team that
has embarked on an exciting journey. They are all about action…now or never, just
do it, should have been done yesterday… type of attitude. Nothing fundamentally
wrong with this attitude, but this attitude should come with a warning label of
‘Don’t overdo it’ and more importantly ‘don’t overdo it by trying to do it all
by yourself’.<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br /></span></span></div>
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<span style="line-height: 115%;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Hence as
work with startups every day, I ask them to follow the principle that was
taught to my elder son when he was in first grade.</span></span></div>
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><img border="0" src="http://4.bp.blogspot.com/-Rv0T__pLzSE/UZOSgM47-YI/AAAAAAAABio/IWpXQPuvLGw/s1600/Stop.jpg" style="margin-left: auto; margin-right: auto;" /></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif; font-size: small;">STOP & THINK!</span></td></tr>
</tbody></table>
<span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; line-height: 115%;">The
principle…simple….STOP & THINK! His school emphasized so much on this principle
that they would give out STOP & THINK award at the end of school year.</span>
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<span style="line-height: 115%;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br /></span></span></div>
<div class="MsoNormal">
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="line-height: 115%;">There's a reason
why this principle of STOP & THINK is applicable in case of startups and especially
the </span><span style="line-height: 18px;">technology</span><span style="line-height: 115%;"> focused ones in India is for a few reasons:</span></span></div>
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</div>
<ol style="text-align: left;">
<li><span style="line-height: 115%; text-indent: -0.25in;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">They focus on their organizational
strengths and put all their precious resources toward that. For example, most
startups (the core team) are extremely technology focused. This means that the
little precious resources they have are exhausted in writing the last line of
core for beta or buying software or getting that one additional developer to
speed up development. More often than not this leads to no resources, mostly
money, being left for other critical activities like Product Strategy, Product
Marketing, Sales, etc. This leads to the next reason…</span></span></li>
<li><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="line-height: 115%; text-indent: -0.25in;">Since there is no money / resources left
they venturing into attempting to taken on tasks that are not their core strengths.</span><span style="line-height: 115%; text-indent: -0.25in;"> </span><span style="line-height: 115%; text-indent: -0.25in;">In the example that I mentioned, it would be
a person focused on technology trying to get into Product Strategy, Marketing
and Sales activities. Due to these none core skill set activities that they
perform, they not only lose focus on core activities but badly botch other key activities
that are not core to them.</span></span></li>
</ol>
<br />
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<span style="line-height: 115%;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">A thoughtful
balanced approach…</span></span></div>
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<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="line-height: 115%;"></span></span></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="http://1.bp.blogspot.com/-scHIgNgxzuU/UZOS6aBLXZI/AAAAAAAABiw/fESlKzX4t-c/s1600/balance.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="147" src="http://1.bp.blogspot.com/-scHIgNgxzuU/UZOS6aBLXZI/AAAAAAAABiw/fESlKzX4t-c/s320/balance.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif; font-size: small;">Balanced Approach</span></td></tr>
</tbody></table>
<div class="separator" style="clear: both; text-align: left;">
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif; margin-left: 1em; margin-right: 1em;"></span></div>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><o:p></o:p></span><br />
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<span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; line-height: 115%;">Here’s the guidance that I provide to startups that I work
with...</span></div>
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<span style="line-height: 115%;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br /></span></span></div>
<div class="MsoNormal">
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="line-height: 115%;">STOP &
THINK: Every time there is a task or a type of activity that you have perform…STOP
& THINK…ask yourself the following questions:</span><span style="line-height: 115%; text-indent: -0.25in;"><span style="line-height: normal;"> </span></span></span></div>
<ol style="text-align: left;">
<li><span style="line-height: 115%; text-indent: -0.25in;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Do you have skills to perform that
activity?</span></span></li>
<li><span style="line-height: 115%; text-indent: -0.25in;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Is the right activity to be focusing
your time and attention on?</span></span></li>
<li><span style="line-height: 115%; text-indent: -0.25in;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Is it going to take you away from
your core activities?</span></span></li>
<li><span style="line-height: 115%; text-indent: -0.25in;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Are there other related activities
that might come up?</span></span></li>
<li><span style="line-height: 115%; text-indent: -0.25in;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Is this activity going to end up
being huge time sink?</span></span></li>
</ol>
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<span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; line-height: 115%;">9 out of 10 times as an entrepreneur
you will be better off getting paid professional help for taking care of your
non core functions. It doesn’t have to be super expensive. But you will end up
being saving time, money and make faster progress on things that you want to
focus and spend time on.</span></div>
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<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0in; mso-add-space: auto;">
<span style="line-height: 115%;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">One of the most common mistakes that
technology focused startups do is not getting the appropriate help for Product
Strategy and Marketing. These critical functions when done right can help in
many ways, some of them being:</span></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 0in; mso-add-space: auto;">
</div>
<ol style="text-align: left;">
<li><span style="line-height: 115%; text-indent: -0.25in;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Identifying the right customer and
market segment.</span></span></li>
<li><span style="line-height: 115%; text-indent: -0.25in;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Building the right product by putting
yourself in customers’ shoes.</span></span></li>
<li><span style="line-height: 115%; text-indent: -0.25in;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Putting the development team on right
product development roadmap.</span></span></li>
<li><span style="line-height: 115%; text-indent: -0.25in;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Identify partnerships for expanding
product offering and increasing product adoption with large customer base.</span></span></li>
<li><span style="line-height: 115%; text-indent: -0.25in;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Position the Product in a way so that
customers of the product can relate to it.</span></span></li>
</ol>
<span style="line-height: 115%; text-indent: -0.25in;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">If not done
correctly and at the right time, lack of Product Strategy and Marketing can
spell doom on the startup because…</span></span><div class="MsoListParagraphCxSpMiddle" style="margin-left: 0in; mso-add-space: auto;">
</div>
<ol style="text-align: left;">
<li><span style="text-indent: -0.25in;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="line-height: 115%;">Team has built technology that the
user </span><span style="line-height: 18px;">doesn't</span><span style="line-height: 115%;"> want.</span></span></span></li>
<li><span style="line-height: 115%; text-indent: -0.25in;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">The technology is cool but cannot be monetize</span></span></li>
<li><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="line-height: 115%; text-indent: -0.25in;"><span style="line-height: normal;"> </span></span><span style="line-height: 115%; text-indent: -0.25in;">Team has run out of resources to make
any course corrections.</span></span></li>
</ol>
<br />
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<span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; line-height: 115%;">If you are
one of those technology focused entrepreneur, then I strongly recommend that you
take a balanced approach and pull in experts where needed, when building your
products and services, early on.</span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br /></span></span></div>
<div class="MsoNormal">
<span style="line-height: 115%;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Remember you
are sufficient for your idea, but call on experts for running a successful business built
on that idea…</span><span style="font-size: small;"><o:p></o:p></span></span></div>
</div>
Aditya Bhelandehttp://www.blogger.com/profile/03088601980349331305noreply@blogger.com0Pune, Maharashtra, India18.5204303 73.85674369999992518.2795338 73.534020199999929 18.761326800000003 74.17946719999992tag:blogger.com,1999:blog-3340229781770794033.post-58294978733227346762013-05-04T22:10:00.001+05:302013-05-04T22:12:01.683+05:30Glocalization: Think Global ... Act Local!<div dir="ltr" style="text-align: left;" trbidi="on">
<iframe allowfullscreen="" frameborder="0" height="486" marginheight="0" marginwidth="0" mozallowfullscreen="" scrolling="no" src="http://www.slideshare.net/slideshow/embed_code/20541330" style="border: 1px solid rgb(204, 204, 204); margin-bottom: 5px;" webkitallowfullscreen="" width="597"> </iframe> <br />
<div style="margin-bottom: 5px;">
<strong> <a href="http://www.slideshare.net/AdityaBhelande/glocalization-20541330" target="_blank" title="Glocalization: Framework for expanding your business internationally">Glocalization: Framework for expanding your business internationally</a> </strong> from <strong><a href="http://www.slideshare.net/AdityaBhelande" target="_blank">Aditya Bhelande</a></strong> </div>
</div>
Aditya Bhelandehttp://www.blogger.com/profile/03088601980349331305noreply@blogger.com0Pune, Maharashtra, India18.5204303 73.85674369999992518.2795363 73.534020199999929 18.761324300000002 74.17946719999992tag:blogger.com,1999:blog-3340229781770794033.post-2007312311137690782013-04-08T10:05:00.000+05:302013-04-08T10:05:22.043+05:30Leveraging Customer relationships as a Product Manager<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: Arial, sans-serif; font-size: 13.5pt;">There
have been epics written on ways businesses should be:</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 0.5in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Identifying customers</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 0.5in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Acquiring new customers
from competition</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 0.5in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Retaining customers</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 0.5in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;">4.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Cross selling and up
selling into existing customers </span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 0.5in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;">5.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Leveraging Customers for
expanding business</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
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<span style="font-family: Arial, sans-serif; font-size: 13.5pt;"><br /></span></div>
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<span style="font-family: Arial, sans-serif; font-size: 13.5pt;">For
a Product Manager, who has to deal with many internal and external entities,
Customer is by far one of the most business critical entities that he has to
deal with. And rightly so, since it's the customers who not only pay for your
product but help in innovation, evangelizing product and most importantly give
you the credibility to make the right product / business decision and
the confidence to stand by it.</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
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<span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Every
organization has different dynamics around customer management. Hence
as a Product Manager, once you get into a new organization you have
to feel your way into the customer management dynamics. Let’s focus on some of
the common trends and techniques used for successfully getting a handle on
building successful Customer relationships.</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="margin-left: 0.5in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Identifying Customers: One
of the first and the foremost tasks is to identify the customer.
There are two types of customer:</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 1in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: 'Courier New'; font-size: 10pt;">o<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Internal Customer: These
can be folks within in your organization who use your product or service to
assist your external customer or use the product / service on behalf of your
external customer. As a Product Manager you should give their voice a
significant ear, since they can not only share their experience but also be a
voice for external customer. Another benefit is that since they are part of your
organization you can leverage them for beta testing, brain storming ideas, hand
holding external customer and even for evangelizing products</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 1in; text-indent: -0.25in;">
<span style="font-family: Arial, sans-serif; font-size: 13.5pt;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 1in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: 'Courier New'; font-size: 10pt;">o<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">External Customer: These
are your paying customer. As a company you have made a promise to them for delivering
a product / service and that must be kept. You should categorize the customers
in terms of their value to the organization:</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 1.5in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: Wingdings; font-size: 13.5pt;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Revenue (current and
potential)<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 1.5in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: Wingdings; font-size: 13.5pt;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Brand value<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 1.5in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: Wingdings; font-size: 13.5pt;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">New market beach head<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 1.5in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: Wingdings; font-size: 13.5pt;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">New geo beach head<o:p></o:p></span></div>
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<span style="font-family: Arial, sans-serif; font-size: 13.5pt;"><br /></span></div>
<div class="MsoNormal" style="margin-left: 0.5in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Initial
Customer Contact: Initial customer contact is a crucial point in your
relationship with the customer. Hence it is critical that you do all the
necessary research on the customer account prior to the meeting whether it’s in
person meeting or on the phone. The per-call prep can help you gain insights
into customers:<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 1in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: 'Courier New'; font-size: 10pt;">o<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Business<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: 'Courier New'; font-size: 10pt;">o<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Current issues<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 1in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: 'Courier New'; font-size: 10pt;">o<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Temperament<o:p></o:p></span></div>
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<span style="font-family: Arial, sans-serif; font-size: 13.5pt;">As part of this initial introduction to the Customer, you
must establish credibility by highlighting your relevant past experiences and
listen intently by being the fly on the wall. One the key things to remember is
that as a Product Manager you must align and fit well into the Sales team
dynamics, since they are typically the owner of the customer relationships.<o:p></o:p></span></div>
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<span style="font-family: Arial, sans-serif; font-size: 13.5pt;"><br /></span></div>
<div class="MsoListParagraphCxSpFirst" style="text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;"> 3</span><span style="font-family: Arial, sans-serif; font-size: 13.5pt; text-indent: -0.25in;">.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><span style="font-family: Arial, sans-serif; font-size: 13.5pt; text-indent: -0.25in;">Basic
Ground Rules for Ongoing Customer Engagement: Once your initial introduction is
done, managing the ongoing customer contact is delicate balancing act. A
customer managed properly can help take your product to the next level along
with its revenue.</span></div>
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<span style="font-family: Arial, sans-serif; font-size: 13.5pt;"><br /><o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: 'Courier New'; font-size: 10pt;">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">You
must establish basic ground rules:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1.5in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: Wingdings; font-size: 13.5pt;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Reviewing meeting agenda
with the sales team<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1.5in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: Wingdings; font-size: 13.5pt;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Sending meeting agenda in
advance to the customer<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1.5in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: Wingdings; font-size: 13.5pt;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Follow through plan after
the meeting<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1.5in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: Wingdings; font-size: 13.5pt;">§<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Set up meeting success criteria<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1.5in; text-indent: -0.25in;">
<span style="font-family: Arial, sans-serif; font-size: 13.5pt;"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: 'Courier New'; font-size: 10pt;">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">You
have to be careful not to overwhelm the Customer with long and frequent meetings
since it can cause confusion and delay in reaching your goal. This is especially
true when you and your Customers are geographically apart. Crisp, succinct and
to the point conversation is critical for ongoing communication with any
Customer. <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1in; text-indent: -0.25in;">
<span style="font-family: Arial, sans-serif; font-size: 13.5pt;"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1in; text-indent: -0.25in;">
<!--[if !supportLists]--><span style="font-family: 'Courier New'; font-size: 10pt;">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 13.5pt;">Remember
the Buddha story about teaching Nirvana to a starving disciple? As long as the
disciple was starving, there was no way he would have been interested in learning
about Nirvana. Similarly, focus on the immediate needs of your Customer before
offering him advance solutions. Once you solve Customer’s immediate business
problems, he will be interested in working with you since trust in the relationship
is built. <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1in; text-indent: -0.25in;">
<span style="font-family: Arial, sans-serif; font-size: 13.5pt;"><br /></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 1in; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 10pt; text-indent: -0.25in;">o<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><span style="font-family: Arial, sans-serif; font-size: 13.5pt; text-indent: -0.25in;">It’s
critical to set expectations when you have conversation with Customers.
Typically, if you ask customers to share their pain points, they will open the
floodgates and expect those pain points to be fixed immediately. Hence before asking
the Customer to open the floodgates, you should make sure that you set the
right Customer expectations so that Customer doesn’t loose interest and let
down. No one wants to tell the same story again and again, especially if your organization
is expected to fix at some point. This same principle goes for sharing product
and services roadmap. You should help Customers understand that documents like
these are for confidential and for directional purposes only. </span><span style="font-family: Arial, Helvetica, sans-serif; font-size: medium; text-indent: -0.25in;"> </span></div>
<div class="MsoNormal">
<span style="font-family: Arial, sans-serif; font-size: 13.5pt;">These
basic principles for managing customer interaction will vary based on geography,
industry vertical, business model, company size, number of products, product
life cycle, etc. But, if followed consistently will take your business to the next level by forging long lasting relationships with your loyal Customers...</span></div>
</div>
Aditya Bhelandehttp://www.blogger.com/profile/03088601980349331305noreply@blogger.com0Pune, Maharashtra, India18.5204303 73.85674369999992518.2795338 73.534020199999929 18.761326800000003 74.17946719999992tag:blogger.com,1999:blog-3340229781770794033.post-57970891724435988062013-02-09T13:09:00.000+05:302013-02-09T13:09:27.314+05:30The Keyser Söze Effect<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="font-family: Arial, Helvetica, sans-serif;">Here's some information about <span style="background-color: rgba(255, 255, 255, 0);">Keyser Söze, </span>for those who are asking to themselves,"Who or what is </span><span style="font-family: Arial, Helvetica, sans-serif;">Keyser Söze???". </span><span style="font-family: Arial, Helvetica, sans-serif;">From <a href="http://en.wikipedia.org/wiki/Keyser_S%C3%B6ze" target="_blank">Wikipedia</a>:'...</span><span style="background-color: white; font-family: sans-serif; line-height: 19.1875px;">being fooled into believing in a person who does not exist....'</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">As a Product Manager, I have worked very closely with cross functional teams in various organizations in my past. Everyone has an opinion about the overall direction of the product and the order in which the product features should be built. And then I start the judicious process of investigating the details of these cross-organization opinions, which to say the least is very interesting. It's truly amazing to see the extent to which people will go to make Product Managers believe the validity of the product need that they are representing. Some of the most commonly given reasons are:</span><br />
<ol style="text-align: left;">
<li><span style="font-family: Arial, Helvetica, sans-serif;">The CEO / VP etc. is asking for it</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;">Our competition has it</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;">Lots of customers are asking for it</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;">I know it will sell (corollary - I c</span><span style="font-family: Arial, Helvetica, sans-serif;">annot sell without it)</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;">It has lot of revenue potential</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;">Customer wants it now!</span></li>
</ol>
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<span style="font-family: Arial, Helvetica, sans-serif;">There are many more such justifications that I see come up from time to time. And every time I find a new one, it feels like I'm dealing with Keyser Söze. Only in this case I'm being convinced into believing in a feature instead of a person that doesn't exist. Hence, as a Product Manager when I'm in product roadmap and strategy conversations I have to understand if I'm dealing with </span><span style="font-family: Arial, Helvetica, sans-serif;">Keyser Söze situation or not.</span></div>
<div>
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">The good news is that it's not rocket science to get out of a </span><span style="font-family: Arial, Helvetica, sans-serif;">Keyser Söze situation. Here are a few ways:</span></div>
<div>
<ol style="text-align: left;">
<li><span style="font-family: Arial, Helvetica, sans-serif;">Ask 'Why?'. Keep asking 'why?', 'what?', 'how?' until the business opportunity or product need is quantified. You have to be able to associate some numbers. It can be revenue, customers, or some other number.</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;">Get to the source. As a Product Manager the farther away you are from the source of the need the worse </span><span style="font-family: Arial, Helvetica, sans-serif;">Keyser Söze effect gets.So cut the to chase and get to the source. This will help you understand the real business need and urgency around it along with saving you tonnes of times and resources. Armed with this information you will be able solve the problem and not just the symptoms.</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;">Then there is pattern recognition. You can leverage historic data, the blast from the past, to see if the product need is valid. This is especially helpful when you don't have direct access to the source or you want to perform high level validation. </span></li>
</ol>
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<span style="font-family: Arial, Helvetica, sans-serif;">At the end of the day as a Product Manager, you have to reduce the </span><span style="font-family: Arial, Helvetica, sans-serif;">Keyser Söze effect to a level where you are able to take a stand. A great Product Manager is able to do this fast and extremely effectively over a period of time by leveraging:</span></div>
</div>
<div>
<ol style="text-align: left;">
<li><span style="font-family: Arial, Helvetica, sans-serif;">Data repository of product usage, industry trends, etc</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;">Direct and indirect relationships built with source of the need.</span></li>
<li><span style="font-family: Arial, Helvetica, sans-serif;">Processes that help others in the organization understand and deal with </span><span style="font-family: Arial, Helvetica, sans-serif;">Keyser Söze effect.</span></li>
</ol>
<div>
<span style="font-family: Arial, Helvetica, sans-serif;">And for those who are still mystified with Keyser Söze, I would suggest watching '<a href="http://www.imdb.com/title/tt0114814/" target="_blank">The Usual Suspects</a>'...one of my all time favorite movies...</span></div>
</div>
</div>
Aditya Bhelandehttp://www.blogger.com/profile/03088601980349331305noreply@blogger.com0Pune, Maharashtra, India18.5204303 73.85674369999992518.2795338 73.534020199999929 18.761326800000003 74.17946719999992tag:blogger.com,1999:blog-3340229781770794033.post-23111012617836773112013-02-03T09:05:00.000+05:302013-02-03T09:17:47.137+05:30Thoughts on: Career in Product Management<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">Product management is one of the most rapidly growing professional fields. With software industry’s rapid growth, it’s becoming more and more critical to hire the right Product Managers.</span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">In a nutshell Product Manager is the person, who identifies business problems and creates revenue generating solutions in the right time and at the right time. As a product Manager you should know the answers to these basic questions in the context of your product / service:</span><br />
<br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">1. What value is the product bringing to its customers?</span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">2. What is the business problem being solved by the product?</span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">3. What is the revenue opportunity for solving the business problem?</span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;"><br /></span><br />
<span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">Without knowing answers to these questions you are the captain of a ship without radar. And this is not a onetime exercise. Business conditions in this internet age change rapidly. So as a Product Manager you have to be continuously on the lookout for new competition, and threats that can quickly make your product irrelevant in the market. </span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;"><br /></span><br />
<span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">People can argue that one doesn't need to be a Product Manger to come up with good ideas. And they are right! Identifying the right opportunity for your product / service is just one piece of the puzzle. The other key piece of Product Manager’s life is to enable smooth execution across the organization by creating the right alignment. Remember just like justice delayed is justice denied…execution of an idea delayed is an opportunity lost. Hence, as a product manager your one eye is on the market and another on execution of idea and bringing it to the market at the right time. What this means is that, you identifying and bringing the right product growth opportunities to various stake holders such as Engineering, Quality Assurance, Sales, executive team, etc. You get them on board and get their sign off on the execution plan. In this process you may leverage project managers to help you coordinate various activities. But at the end of the day you, are one responsible for making idea / business opportunity real. Your behind is on the line!</span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">In your life as a Product Manager, you will find yourself in the middle of this virtuous cycle of business problem and solution execution of that business problem. As you start your career in Product Management, you may focus on one or two features and then grown on to take more and more responsibilities till you finally become completely responsible for that product / service. Then as you become Director or Sr. Director of Product management you may own a portfolio of products. In this role you will be responsible for revenue that can be attributed to your products. The executive team depends on your products for the overall growth of the company. This continued growth leads to positions like Chief Product Officer (CPO). This is just of the possible career growth paths. Many product managers eventually start their own business with an idea that they have and become CEO, Co-Founder, VP of Product Management, etc.</span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;"><br /></span><br />
<span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">Here’s a short list of questions to ask yourself when thinking of a career in Product Management:</span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;"><br /></span><br />
<span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">1. What kind of problems do I want to passionately solve? Quick test of passion – Does this problem keep you awake at night?</span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">2. Do I like to be in the middle of action and be the deal maker to align various organizational stake holders?</span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">3. Can I create cross org alignment for my product?</span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">4. Do I have vision about product or the business problem that my product addresses?</span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">5. Can I convince people to invest in the business problem that needs to be solved?</span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">6. Can I succinctly communicate with various internal and external audiences regarding my product?</span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">7. Can I convey the value of my product so that the audience can relate to my product?</span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">8. Do I like to analyze data, spot trends, join the dots together?</span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">9. Can I explore and present options to keep moving the team forward?</span><br style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;" /><span style="background-color: white; font-family: Arial, Helvetica, 'Nimbus Sans L', sans-serif; font-size: 13px; line-height: 15px;">10. Can I own up, roll up the sleeves and do what it takes to get the job done?</span></div>
Aditya Bhelandehttp://www.blogger.com/profile/03088601980349331305noreply@blogger.com0