Building new product – My experiences

I have consolidated all my earlier blog posts on ‘Building new product – My experiences’ into a document (both .PDF and .PPT) and got them uploaded to slideshare.

Please check them below:

Link to slideshare: http://www.slideshare.net/merragun/new-product-development-my-experiences

The copy can be downloaded from www.productguy.in/resources/

.PDF version

.PPT version

For ease of reference, i also provided the links to my earlier blog posts related to building new products

Ideation phase

Business review phase

Drafting product requirements

Importance of a monitoring plan

Product development planning

Product development

Essential traits of Product Manager for success of new product development

In the next series, i will focus on articles related to product roadmap preparation. I will try to focus on the following

  • Purpose of product roadmap

Product roadmap serves different purpose to different stakeholders, but product roadmap is required by all the stakeholders(product managers, customers, development team, sales, business development etc)

  • Contents of product roadmap

‘Listen to your customers’ is age old adage that is followed by every business and I am not advocating doing anything differently. I am just trying to emphasis that we both listen and understand our customers, but we do not let them decide our product roadmap. On the same lines, I want to quote the words of Henry Ford “If I had asked people what they wanted, they would have said faster horses.” Ford while listening to his customers understood their innate needs of travelling quickly from A –> B. So does listening and understanding our customers alone would suffice? Can the roadmap be filled with customer requirements alone?

  • Ratio of customer vs market focus features in product roadmap

Product roadmap should focus both on market and customer, the biggest dilemma now is to determine what % of the product roadmap would be occupied by both market and customer requirements?

  • Where product requirements originate

Product Manager alone could not be a single source of origin for product requirements, product requirements could be generated by pretty much all the stake holders (including BDMs, sales, development teams, customers etc). Now the larger question, how could Product Manager ensure that there is a free flow of product requirements from all the stake holders to the Product Manager?

  • How to prioritize product requirements

There will be umpteen requirements gathered from all the stakeholders and what parameters does Product Manager use to ensure that right set of requirements are prioritized in each release and how does Product Manager measure the efficacy of prioritizing the product requirements?

  • How to stick to product roadmap without letting your customers hijack it

PMs diligently prepare the product roadmap to reflect the product growth strategy. Nevertheless nothing works as per the plan. First roadblock that every PM face is some unexpected product requirement requests from their customers and that product requirement will be total deviation from the items planned in the roadmap. How Product Managers could stop their customers from hijacking the product roadmap?

Happy Christmas and Happy New Year

 

2 Responses

  1. Samantha April 25, 2015 / 10:00 AM

    Hi Murali,
    Thank you so much for sharing your experiences. I am looking to get into this field. Reading this provided me with great insights into the responsibilities of a product manager. Thank so much!

    • Murali Erraguntala April 29, 2015 / 11:49 AM

      Samantha,
      Glad that you liked the article and my best wishes for a great career in Product Management.

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