What we talk about:
- Why project funding clashes with discovery work
- What CFOs look for in project-based funding
- The benefits of shifting to funding teams instead
- Step one: Fund the team, step two: Assign an outcome
- Helping finance teams make the shift
- Role of product ICs vs. product leaders in finance conversations
- Translating between product and finance language
- Naming conventions and how to make them finance-friendly
- VC-style funding for teams: Fund based on learning and outcomes
- Case study: Agency using per-iteration funding
- Product teams understanding their cost and return
- The mismatch between incremental thinking and ROI
- Why product teams must aim for exponential outcomes
Key Takeaways:
- Funding teams instead of projects supports flexibility, learning, and continuous discovery.
- Assigning clear outcomes to teams helps maintain accountability and aligns with finance goals.
- Product people (especially ICs!) can be powerful allies in helping finance understand value creation.
- Understanding team costs—and expected return—is critical for sustainable product development.
- Bridging the language and mindset gap between product and finance is a core leadership skill.
Resources & Links:
- Follow Teresa Torres: https://ProductTalk.org
- Follow Petra Wille: https://Petra-Wille.com
Mentioned in the episode:
