Introduccion a Lean Product Management - AKTIA Solutions - Barcelona - Junio 2019

Lean Product Management@AktiaSolutions
aktiasolutions.com
#betterproductsfaster
BARCELONA
11 JUNIO 2019

aktiasolutions.com @AktiaSolutions
I have spent last 20 years in technology related roles. As
an engineer, manager, consultant, agile coach, team
coach, executive coach and now business owner.
I’m Managing Director at AKTIA Solutions, a
Management Consulting Firm.
I also help companies as Lean Startup Coach, Lean and
Agile Coach and Team and Executive Coach.
I work with digital businesses to drive market
leadership by enabling operational excellence,
customer focus, innovation and strategic alignment.
I offer expert advice, consulting and coaching to
companies who develop software based products
which are looking for high growth rates.
gerardchiva.com

Lean Product
Management

Evolution of Product Management
http://aktiasolutions.com/product-owner-product-manager-lean-product-management/
http://aktiasolutions.com/value-stream-manager-lean-product-management/

Product Owner vs Product Manager
"In digital product companies, it is critical that the
Product Manager also be the Product Owner. If you
split these roles into two people, some very common and
predictable problems result
(...) Moreover, the additional responsibilities of the Product
Manager are what enables good Product Owner decisions
in a product company.
(...) the Product Owner role covers a very small part of the
responsibilities of a product manager. To summarize,
Product Owner responsibilities are a small subset of
product management responsibilities, but it's critical
that the Product Manager covers both”.

Context

•  Software is eating the world
•  Technology disruption
•  Hyper-connected world
•  Global Market
•  Customers’ expectations
•  Employees’ expectations
The World Has Changed
http://aktiasolutions.com/es/introduccion-a-lean-product-management-agile-product-management/

The Problem

aktiasolutions.com @AktiaSolutionshttps://www.youtube.com/watch?v=5lutHF5HhVA

•  Around 75% of venture-backed startups fail
•  Anywhere from 40% to 90% of new products fail to
gain significant market adoption
Most New Products and Companies Fail
https://www.inc.com/john-mcdermott/report-3-out-of-4-venture-backed-start-ups-fail.html
https://blog.strategyzer.com/posts/2018/10/15/why-companies-work-on-products-nobody-wants

Thinking Mistakes

1.  Putting the cart before the horse
2.  Wishful Thinking
3.  The Build Trap
4.  Innovator Bias
5.  Confirmation Bias
Thinking Mistakes
http://aktiasolutions.com/es/cinco-errores-clave-gestion-de-producto/

Design Mistakes

1.  The Wrong Structure
2.  The Wrong Process
3.  The Wrong People
Design Mistakes
http://aktiasolutions.com/es/tres-errores-organizaciones-producto-digital/

The Wrong Structure

The Wrong Process (AKA Water-Scrum-Fall)

The Wrong People

The Solution

The Right Structure
http://aktiasolutions.com/es/gestion-partes-interesadas-gestion-stakeholders/
1. Deﬁne Value
2. Organize Around Value Streams
3. Enable Flow
4. Implement Pull
5. Seek Perfection

The Right Process

The Right People
http://aktiasolutions.com/es/un-mejor-product-owner-es-un-product-manager/

More on the Chief Engineer(AKA Value Stream Manager)

Business Models

Business Case

The Business Case

Business Modelling

A Business Model is a story about
how an organization creates,
delivers and captures value.

What is a business model?
http://aktiasolutions.com/es/modelo-de-negocio-lean-startup-lean-product-management/

Business Model
The right business
model can be the
diﬀerence between
success and failure for
the same product.

Alex Osterwalder

A Product is more than the thing you buy
Your product is your business model
Source: Lean Analytics

Derisking your Business Model
UNCERTAINTY
INVESTMENT

The Three Cornerstones

Market Opportunity

POTENTIAL
•  Unsatisfied needs
•  Market Size
•  Financial Viability
CHALLENGE
•  Implementation Obstacles
•  Time to Revenue
•  External Risks
Market Opportunity

Business Model
Canvas

Business Model Canvas
FEASIBILITY
DESIRABILITY
VIABILITY

Product Lifecycle

Lifecycle
http://aktiasolutions.com/es/ciclo-vida-producto-lean-product-management/

Lifecycle

Product-Market Fit

What is Product-Market Fit?
Product-Market Fit is the point in the
life cycle of a product (or feature)
where you can quantitatively verify
that you are capturing monetizable
value from the market.
Gerard Chiva

Product-Market Fit
1. Is there a viable market for the
product?
2. Have I built something people want
and are willing to pay for?

Product-Market Fit
●  MVP
●  Traction
●  Business Model
Validation

Minimum Viable Product

Conditions of a good MVP
1.  It must provide value to the customer
2.  It must capture monetizable value back
3.  It must be functional, reliable, usable and
delightful

Product Strategy

Cirque du Soleil

Cirque du Soleil
CREAR
REDUCIR / ELIMINAR
INCREMENTAR
INCREMENTAR

Strategy

What is Strategy?
Strategy is about making specific choices to win in the marketplace.
A firm creates a sustainable competitive advantage over its rivals by
deliberately choosing a different set of activities to deliver unique
value.
Strategy is choice. It is an integrated set of choices that uniquely
positions the firm in its industry so as to create sustainable advantage
and superior value relative to the competition.
Mike Porter, autor de “Competitive Strategy”

What is NOT Strategy?
•  Vision, Mission, Purpose, Values, Culture
•  Goals
•  Plan
•  Short-term
•  Optimization of status-quo
•  Best practices
•  Competitive me-too

Strategy Kata

Document your Strategy

Business Strategy & Product Strategy

Document your Product Strategy

Bibliografía Básica

OKRs

Mission Command

Mission Command
•  Provide intent
•  Give control → Competence + Clarity
•  Move authority where information is
•  Create leaders
http://aktiasolutions.com/es/empezar-con-okrs-comenzar-con-okrs/

OKR Basics

Defining Objectives and Key Results
Objective
•  Where do I want to go?
Key Result
•  How will I know I got there?

OKR Example
Objective
•  USA is the recognized leader in space
Key Results
•  At least one astronaut lands on the moon and returns home safely
before the end of decade
•  Moon mission captured in photos and videos
•  Do not exceed $10Bn budget

OKR Example
Objective
•  We have to become a multiplanetary species
Key Results
•  We have successfully landed 10 missions with humans in Mars
•  We can generate sufficient combustible in Mars to return to Earth
safely
•  We have one mining settlement at the Asteroid Belt

OKR Hierarchy

OKR Cadences

Product Roadmap

Product Roadmap
http://aktiasolutions.com/es/hoja-de-ruta-de-producto-agil/

The Three Embarrassing Truths
1. Most of our ideas will fail
2. Time to product-market fit cannot be known
3. Roadmap doesn’t mean commitment
Shipping stuﬀ nobody wants

What is not a Product Roadmap?
1. Release Plan or Project Plan
2. Product Backlog
3. List of Features with dates

A Traditional Roadmap

What is a Product Roadmap?
1. A strategic communication tool
2. A prototype of your strategy
3. A statement of intent and direction
How you will realize your product vision

Components of a
Roadmap

Components of a Roadmap

Prioritization

There is always more work than capacity
Why do we Prioritize?
WHAT DO WE DO NEXT?
http://aktiasolutions.com/es/tecnicas-de-priorizacion-lean-product-management/

We are mixing two concepts:
•  IMPORTANCE
•  URGENCY
BUT ...

The Eisenhower Matrix

How do we schedule work?
1.  Criteria to determine importance (Shall we
work on it at all?)
2.  Criteria to determine order (When?)
Prioritization

How do we schedule work?
1.  Importance → Strategy, Goals and Principles
2.  Order → Outcomes
Prioritization

•  HIPPO
•  Intuition
•  Committee consensus
•  Analysts opinions
•  Support / Sales / Marketing / CEO requests
•  Competitive me-too
•  Cost (Story Points, …)
Bad ways to prioritize

Determining Importance
EXPLORATION
EXPLOITATION
BUSINESS MODEL RISKS CUSTOMER NEEDS
CRITICAL PATH
KANO
OKRs (Objectives)
PURPOSE - VISION - PRINCIPLES

Determining Order
EXPLORATION
EXPLOITATION
VALIDATED LEARNING GOOGLE’S H.E.A.R.T. OKRs (Key Results)
ICE
COST OF DELAY
ROI SCORECARD
PURPOSE - VISION - PRINCIPLES

Lean Analytics

What do we measure?

What do we measure?
●  Operational Metrics (Process Health)
●  Fitness Criteria (Customer Satisfaction)
●  Business Metrics (Business Health)

What do we measure?
●  Operational Metrics (Process Health)
●  Fitness Criteria (Customer Satisfaction)
●  Business Metrics (Business Health)
Your product is your business model

Business Metrics

Innovation
Accounting
Traditional
Business
Performance
Metrics
Business Metrics
http://aktiasolutions.com/es/lean-analytics-lean-product-management/

OMTM

The One Metric That Matters

Innovation Accounting
1 - Problem:
Respondents who have
this need, respondents
who are aware of having
the need
2 - Solution:
Respondents who try the
MVP, engagement,
churn, most-used/least-
used features, people
willing to pay
3 - UVP:
Feedback scores,
independent ratings,
sentiment analysis,
customer-worded
descriptions, surveys,
search, and competitive
analysis
4 - Customer
Segments:
How easy it is to find
groups of prospects,
unique word segments,
targeted funnel traffic
from particular source
5 - Channels:
Leads and customers per
channel, viral coefficient
and cycle, net promoter
score, open rate, affiliate
margins, CTR,
PageRank, message
reach
6 - Unfair Advantage:
Respondents’
understanding of the
UVP, patents, brand
equity, barriers to entry,
number of new entrants,
exclusivity of
relationships
7 - Revenue Streams:
Lifetime customer value, average revenue
per user, conversion rate, shopping cart
size, CTR
8 - Cost Structure:
Fixed costs, cost of customer acquisition,
cost of servicing nth customer, support
costs, keyword costs
OMTM (One
Metric That
Matters)
Innovation accounting is a system for translating from the vague
language of “learning” to the hard language of dollars. It puts a
price not just on success but also on information. Innovation
accounting allows organizations to quantify learning in terms of
future cash flows - Eric Ries

Analytics
Improvement
Process

Analytics Improvement Process

Find the right metric
In order to find the right metric you need four things:
1.  Understand what business you are in
2.  Understand what stage in the product lifecycle you are
currently in
3.  Understand what problem you are trying to solve
4.  An analytics model

#betterproductsfaster

Introduccion a Lean Product Management - AKTIA Solutions - Barcelona - Junio 2019

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Introduccion a Lean Product Management - AKTIA Solutions - Barcelona - Junio 2019