Global Product Lifecycle - Creating A Lean Enterprise
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The global product lifecycle encompasses a range of principles which truly put the learner and customer at the centre. Using the Agile, Lean And Lean Startup principles, The product lifecycle focuses on learning fast through feedback with the customer and learner, and pulls together all the supporting capabilities behind the vision of a product. This includes looking at Agile beyond technology and considers how you fund and consider budgets, how can teams be rotated with HR to work on the next idea, how can the organisation improve innovation, the importance of culture and more. For more info follow @leanplc
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Global Product Lifecycle - Creating A Lean Enterprise
- 1. Global Product Lifecycle Creating A Lean Enterprise @LeanPLC @craigstrong
- 3. ● Approx 44,000 employees worldwide ● Institutional sales & print background ● The world’s largest publisher and education company ● Operates in over 80+ countries ● Growth through acquisition ● 170 years old
- 5. The World Has Changed
- 6. Investment Strategies High Probability Low Probability Low Impact Large Organisations High Impact Start Ups
- 7. Jeremy Hope, 2003. Beyond Budgeting: How Managers Can Break Free from the Annual Performance Trap. Edition. Harvard Business Review Press.
- 8. Traditional Models Are Changing Big Bang Market Adoption Roger’s Market Segments
- 9. Uncertainty—in the economy, society, politics—has become so great as to render futile, if not counterproductive, the kind of planning most companies still practice: forecasting based on probabilities “ ”
- 11. Big Ideas & Big Bets X X
- 13. WAGILE Finance HR Legal Agile Framework Marketing Sales Software
- 14. Self Perpetuating Risk Big Plans Big Budgets Big Systems High Risk Command & Control Behaviours Cost Of Change is High Constrains Innovation Increased Management Overhead
- 15. Traditional Governance Reduces The Capability to Innovate New Ideas Products Long time to marketBottleneck of ideas Strategic force field which limits ideas internally
- 17. A Nonlinear Process Learn Build Measure
- 18. Search and Execution are different
- 19. Product Age Young Mature Status Before Market-Fit After Market-Fit Focus Searching for a Business Model Executing Against Business Models Duration Days Weeks Months <1 Year Years Metrics Customer Discovery, Innovation Accounting, Lean Analytics, Pirate Metrics Revenues, Profit-Margins, ROI, ARR, NPV The PLC Framework
- 20. Product Governance (1 of 2) 20 Product Council Product Council Idea Explore Validate Can you identify a core user problem in a target market? Have you validated customer and learner needs in context? Can you demonstrate Product/Market Fit or validated business model?
- 21. Portfolio Council Portfolio Council Portfolio Council Product Governance (2 of 2) 21 Validate Product Council Grow Sustain Product Council Product Council Retire How fast are you growing the business at scale? Are you continuing to deliver outcomes to a broader user set? Are you delivering revenue and outcomes while reducing costs? What residual value can be gleaned from the business? Can you demonstrate Product/Market Fit or validated business model?
- 22. Reducing Risk Funding & Evidence Risk Time Idea Explore Validate Grow
- 23. Traditional Business case Template Investment decisions are evidence based using consistent set of criteria: customer and learner, environment, finance, tech and operations and more... PLC Governance Criteria Category 1 Customer Value Proposition Category 2 Market Demand Category 3 Strategic Fit Category 4 Product Design & Efficacy Category 5 Financial Information
- 24. PLC Governance Criteria PLC criteria addresses all of the questions in a business case as well as input from specialist areas from the business such as: ● Accessibility ● Security ● Quality ● Efficacy ● Product Management ● Operations ● Safeguarding ● Marketing & Brand ● Sales ● Legal ● Customer Experience ● More
- 27. Small Bets BEFORE Product-Market Fit Double Down With Larger Investments AFTER Product-Market Fit
- 28. Iterative Funding http://blog.mercdev.com/mvp-when-less-is-more/ Not like this… Like this… ?
- 29. Visibility & Transparency Bansi Nagji & Geoff Tuff https://hbr. org/2012/05/managing-your- innovation-portfolio Core Products These are existing products that are optimized for existing customers Adjacent Products These represent incremental innovation targeted at adjacent markets Transformational Products These represent breakthrough innovation in which the company develops new products for new markets 20% of investments are in adjacent innovation 10% of investments are in transformational initiatives 70% of investments are safe bets in core products
- 30. Product Lifecycle Principles More Ideas, More Bets, More Tests New Ideas Not all the ideas survive but all the learnings are recorded All the ideas are quickly captured and tested One to three months turnaround Walls are pervious allowing ideas into and out of the company Open Innovation
- 31. Behind The Scenes Culture - Coaching - Practices
- 34. “If you ask the right questions, you drive the right behaviours.”
- 37. 37 Tanzania “Just thought you guys might like to know we're currently sat in the middle of rural Tanzania answering your questions from the Idea & Explore phases. Your stuff is proving genuinely useful in terms of helping us shape our thinking/questioning. We've proved and disproved a number of hypotheses, made some head scratching discoveries & had some eureka moments. We've pivoted already. It's been great.”
- 38. Agile Beyond Technology Finance HR Legal Development Teams Marketing Sales
- 39. 39 Agile Lean Startup Lean UX Beyond Budgeting Customer Interviews Minimal Viable Experiments MVP’s Lean Analytics Efficacy Growth Hacking Hypotheses and More….
- 40. 40 Open Source Product Lifecycle Criteria V1.0 Learning about practice Common extensions can be incorporated into later versions Open Collaborative Learning Community
- 41. Product Lifecycle Community Specialist Lead has been identified Slice is engaged with the lifecycle 41
- 42. Today Tomorrow Decentralized Network Distributed Network 42 Product team has better access to all parts of the business Product team has restricted access to other parts of the business which can hinder or slow progress
- 43. Thank You Feedback & Questions @leanplc @craigstrong