The product momentum gap - Dave Martin and Andrea Saez on The Product Experience
Sep 27, 2023
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Dave Martin and Andrea Size discuss the challenges of scaling a product and the importance of product strategy and customer value. They explore the concept of the Product Momentum Gap, the value creation plan, and the importance of alignment and continuous product-market fit. They also emphasize the value of hearing stories and getting insights from other product leaders.
The product momentum gap occurs when scaling a product, leading to decreased momentum and slower sales growth despite increased investment, and can be addressed through strong leadership, strategic alignment, and continuous focus on product-market fit.
The product value creation plan (VCP) is a powerful tool that helps align teams and articulate product strategy in an outcomes-driven manner, enabling transparent decision-making, collaboration, and tracking of progress.
Deep dives
The Importance of a Product Influencer
A product influencer is someone who looks at a typical product problem in a new and better way and provides a solution. This approach can lead to a big paradigm shift and is exemplified by industry experts like Teresa Torres, John Cutler, Lucy McLean, and Jeff Patton. The podcast episode features Dave Martin and Andrea Siz discussing their new book, 'The Product Momentum Gap,' which explores the trap that many companies fall into when scaling their product lines. They emphasize the need for stronger leadership and alignment within product teams during the scaling process.
The Product Momentum Gap
The product momentum gap refers to a common challenge that arises when a product line starts to scale. It is characterized by a decrease in momentum and slower sales growth, despite increased investment and expansion efforts. This gap often occurs when the original niche market success is expanded to a broader market, resulting in weakened product-market fit. The gap is problematic for both founders and product teams, as it can lead to frustration, lack of empowerment, and disconnection from the business strategy. The podcast episode highlights the need for strong leadership, strategic alignment, and continuous focus on product-market fit to bridge the momentum gap.
The Value of the Product Value Creation Plan
The product value creation plan (VCP) is a powerful tool discussed in the podcast episode that helps align teams and articulate product strategy in an outcomes-driven manner. The VCP focuses on user behaviors and value indicators that drive customer value and business objectives. It enables transparent decision-making, accountability, and autonomy within product teams. By involving business-facing teams like marketing and sales, the VCP fosters collaboration, communication, and shared understanding of product objectives. The VCP also helps in tracking progress, identifying strategy gaps, and providing guidance for future decision-making.
Addressing the Momentum Gap and Driving Culture Change
Recognizing and acknowledging the existence of the momentum gap is essential to address this phase effectively. Leadership's awareness and willingness to take responsibility for the problem are crucial factors in tackling the gap. The podcast episode suggests that culture change is necessary to shift from feature-centric approaches to outcome-driven practices. The VCP plays a significant role in this cultural shift by focusing on behaviors, promoting autonomy, and providing a framework for effective decision-making. Through collaborative efforts, including leadership, product teams, and business-facing teams, the VCP fosters alignment, accountability, and the pursuit of continuous learning and improvement.
Many organisations and teams have faced the challenge of scaling a product. This week we invited Dave Martin and Andrea Saez, authors of "Product Momentum Gap", to share their wisdom and help bring together product strategy and provide customer value.
Featured Links: Follow Andrea on LinkedIn and her website | Follow Dave on LinkedIn | Dave's page at Right To Left | Sign up for release updates for Andrea and Dave's forthcoming book 'The Product Momentum Gap' | Dave's 'How to execute your product strategy' (using the Value Creation Plan) 10-Step Plan
Our Hosts Lily Smith enjoys working as a consultant product manager with early-stage and growing startups and as a mentor to other product managers. She’s currently Chief Product Officer at BBC Maestro, and has spent 13 years in the tech industry working with startups in the SaaS and mobile space. She’s worked on a diverse range of products – leading the product teams through discovery, prototyping, testing and delivery. Lily also founded ProductTank Bristol and runs ProductCamp in Bristol and Bath.
Randy Silver is a Leadership & Product Coach and Consultant. He gets teams unstuck, helping you to supercharge your results. Randy's held interim CPO and Leadership roles at scale-ups and SMEs, advised start-ups, and been Head of Product at HSBC and Sainsbury’s. He participated in Silicon Valley Product Group’s Coaching the Coaches forum, and speaks frequently at conferences and events. You can join one of communities he runs for CPOs (CPO Circles), Product Managers (Product In the {A}ether) and Product Coaches. He’s the author of What Do We Do Now? A Product Manager’s Guide to Strategy in the Time of COVID-19. A recovering music journalist and editor, Randy also launched Amazon’s music stores in the US & UK.
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