The 7 Deadly Sins Of Digital Product Management

 


Do you feel overwhelmed when your digital product is in the middle of the development process? If so, it's probably because you are lackingproduct management knowledge. A good PM can often make a difference between an average and an amazing final result. On the other hand, if your team doesn't have a proper PO leading them, they're in for some serious trouble.





In this article, we'll briefly discuss 7 Deadly Sins Of Digital Product Management:





1) Not Getting The Product Planning Right - Without proper project management, it's very easy to lose sight of the main objective within all those details you have to keep track of during the development process. That's why it is so important for digital products to understand the basics of Lean Startup methodology and why it is even more important for those projects that are based on Lean Startup approach. By applying a structured product development approach often used in software engineering, we can avoid wasting time and resources building features users don't want or need.





2) Not Focusing On Customer Development - It doesn't matter how good you think your product is: if nobody wants to use it, it's useless. That's where Customer Development comes into play. It helps us create products people actually want to use by understanding their needs and problems they're trying to solve through the feedback loop of research, build, measure and learn cycles called the 'Lean Startup'.





3) Not Listening To Customers & Users - Sometimes companies forget that their customers' voice is their biggest asset. Listening to them can give us powerful insights about what features to build next, how they're using the product, and when they experience pain points in the process of completing tasks.





4) Focusing On The Product & Features Instead Of Problem & Customers - Sometimes we focus on the idea instead of the customer who has a problem that our product is trying to solve . When this happens it's easy for us create 'vaporware' or products that aren't delivering real value because they weren't built around solving an actual problem people have .





5) Talking To The Wrong People Or At The Wrong Time - It's very important to talk with customers during every step of building something before taking it to market (ideally we like to test and validate ideas in the market as early and cheaply as possible). If we find out that customers aren't interested in what we're building or if something is wrong with our idea during this process it's a lot cheaper to make course corrections early on before investing time / money into bringing a product to market.





6) Not Validating Or Failing To Gather Customer Feedback Early On - It's very expensive (in time/money/resources) to build software that isn't solving a real problem for people who will actually use your product. We need feedback from potential customers very early on if we want to avoid building the wrong thing and wasting precious resources .





7) Not having a future roadmap plan in place -  If you don't have a plan for what you want your SMB to look like in the next 1 year, 3 years, 5 years how can you possibly make any long term plans / financial projections?

Contrary to popular belief, getting useful information about whether an idea is worth pursuing or not is much easier than it sounds. A lot of entrepreneurs believe that you need to spend a ton of money on focus groups, surveys, paid research participants, etc in order to validate an idea before investing in the business. Really, all you need are some friends , your network and/or social media . You can at very least get useful information about whether or not there's even a market for what you're building when compared against other solutions available by asking around with people in your network who are non-technical/not in the industry.

If they don't know about it already - chances are good that no one else has built anything like it yet either :) It's important to note here that collecting feedback doesn't always mean spending thousands on a domain name and server costs for software and other expenses to build your idea. Sometimes people decide not to build something because of what they learn during their research process - or perhaps, as I like to think about it, the market speaks back and says "no thank you" . This can be completely validating should it happen. The point I'm trying to make is that if you're planning on building something (and especially if you expect oodles of users), then do yourself a favour and spend at least some time learning more about the problem space first .

Just keep in mind that the goal here isn't necessarily to validate whether or not your solution is better than all others out there (although this can be an added benefit) but rather whether or not people want to use this kind of product/service at all. It's a subtle difference, I know, but it's an important one. And if you can get that part right early on then your likelihood of building something that is better than the competition will be high because you're not wasting time trying to fix things that can't be fixed . In other words, make sure you know what problem(s) your product solves before going ahead and thinking about how exactly to do so.

 

Post a Comment

0 Comments