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Launching a New Product in Established Company by Microsoft PM Dir

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Launching a New Product in Established Company by Microsoft PM Dir

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Main Takeaways:

- How you can identify and validate problems to solve and scope a market opportunity
- How to pitch to your internal investors (your GMs & VPs)
- How to take your idea to market and validate product-market fit

Main Takeaways:

- How you can identify and validate problems to solve and scope a market opportunity
- How to pitch to your internal investors (your GMs & VPs)
- How to take your idea to market and validate product-market fit

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Launching a New Product in Established Company by Microsoft PM Dir

  1. 1. Launching a New Product in Established Company by Microsoft PM Dir www.productschool.com
  2. 2. CERTIFICATES Your Product Management Certificate Path Product Executive Certificate™ Product Leader Certificate™ Product Manager Certificate™ WWW.PRODUCTSCHOOL.COM
  3. 3. Corporate Training Level up your team’s Product Management skills
  4. 4. 🗣 Do you enjoy Product School events? We want to hear from you! Scan the code to fill out this quick questionnaire so we can provide you with more value.
  5. 5. Free Product Management Resources BOOKS EVENTS JOB PORTAL COMMUNITIES bit.ly/product_resources COURSES
  6. 6. LAUNCHING NEW PRODUCTS Ayushman Jain
  7. 7. About me • Currently a PM leader at Microsoft with 10 years in Big Tech (IBM, Microsoft, Amazon) • Product experience in high maturity cash cow, extremely competitive and early-stage products/businesses • Experiences across the software value chain - SDE, PM and PMM • B.S. in Computer Science from Indian Institute of Technology and MBA from UCLA
  8. 8. Agenda • 1. How you can identify and validate problems to solve and scope a market opportunity • 2. How to pitch to your internal investors (your GMs or VPs)) • 3. How to take your idea to market and validate product market fit
  9. 9. Finding opportunity Pain points and market opportunity
  10. 10. Frame the problem Customer problem? • Who is the imagined customer (s)? • Build an empathy map Business problem • What business goal are we trying to achieve? • What levers does the company have to achieve these goals? Is a new product really required? • Does the company have core competencies that can be leveraged for the imagined customers/end users?
  11. 11. Use Design Thinking to define the high-level problem and idea (solution) Example: People who work long hours want to spend more time with family but are unable to do so because of time wasted in day to day Example: People who commute by driving are unable to spend time with family due to time wasted in daily trifles like picking up morning Example: A voice-based system integrated into the car can eliminate wasted time by enabling the driver to provide
  12. 12. Hypothesis development and validation • Team conducts primary/secondary research to get user empathy • Team does problem ideation/brainstorming to document Jobs-to-be-done and pain point hypotheses • Customer research validates or invalidates pain points
  13. 13. Make sure there’s tangible Market Opportunity for your company to invest in your idea Industry • Total Addressable Market and growth • Use trusted sources • Competition • VC investment • Analyst commentary • Porter’s 5 forces Customer • How painful is the customer’s pain? • Is the customer willing to pay for it? • Is the end user also the buyer? Company • Complementarity to existing offerings • How big is the team charter/goal? Is the market big enough to support it? • Does the company have differentiated assets (including brand) for this market?
  14. 14. GET EXECUTIVE SPONSORSHP Getting your idea greenlight with a 3-act pitch
  15. 15. Ground rules • Keep it short – 10 slides, 20 mins max • Socialize ahead of time with the senior leader’s direct reports and get their buy in • Be prepared to wallow – know the facts
  16. 16. Act 1: The Catalyst
  17. 17. Act 2: The Vision
  18. 18. Act 3: The Solution
  19. 19. EXECUTION From idea to MVP
  20. 20. Three steps to drive great execution Allow creativity to breed Your teams need to wallow with the problem you posed in your pitch Create a structured execution plan towards MVP Aim to ship an MVP very quickly and get it in the hands of at least 4-5 customers Sell the idea to the team What’s your rallying cry? Ultimately, the goal is to get product/market fit
  21. 21. Phase 1. Plan and Ideate (continues as needed) Phase 2. Lean Startup (continues as needed) Phase 3. Ongoing development Nov 1 - ongoing Generate as many ideas as possible Pick promising ideas. Create storyboards to validate. Build POCs for validated ideas Get into ongoing shipping cadence Translate the double diamond into an execution plan for the team
  22. 22. Use design sprints
  23. 23. Start of execution Deliver your MVP but be open to any possibility Product in designs MVP Pivot/persev ere? Prototyping Developing Customer Feedback Recruit customers and advisers with real scenarios for the MVP
  24. 24. WRAP UP
  25. 25. Takeaways • 1. How you can identify and validate problems to solve and scope a market opportunity • Problem framing • Double diamond • Assessing market opportunity • 2. How to pitch to your internal investors (your GMs or VPs)) • Emotional pitch before hard data • 3 Act pitch – The Catalyst, The Vision and The Solution • 3. How to take your idea to market and validate product market fit • Use a rapid prototyping process to drive execution • Use design sprints • Recruit customers who can give feedback on the MVP using them for real scenarios
  26. 26. www.productschool.com Part-time Product Management Training Courses and Corporate Training

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