Concept to Care
Ben Foster, Co-founder of Prodify and Former CPO of Whoop
Episode guests
Podcast summary created with Snipd AI
Quick takeaways
- Leveraging data from wearables for consumer engagement is crucial in the health tech industry.
- Transitioning from B2B to B2C products demands strategic vision and adaptation to market shifts.
- Balancing team expansion by hiring exceptional individuals with core values and diverse skills is essential for growth.
- Harnessing data insights from wearables can empower users to improve individual health outcomes effectively.
- Aligning hardware and software development priorities is crucial for creating cohesive product offerings.
Deep dives
Transforming Industry with Innovative Solutions
Delving into disrupting industries by revolutionizing customer experience with innovative solutions, changing customer expectations irrevocably to surpass incumbent offerings. Concept2Care shares candid success and failure stories, offering strategic insights in timely health advice for individuals at all career stages.
Ben Foster's Journey to Chief Product Officer at Woop
Ben Foster's transition from Woop advisor to Chief Product Officer was driven by Woop's growth needs and scaling objectives post-COVID, leading to a successful evolution in the company's team structure and strategic vision adaptation over time. Woop's initial vision as a coaching platform for peak performance broadened from professional athletes to encompass broader health and fitness demographics, reflecting market shifts.
Hiring for High-Growth Success
Navigating the challenges of rapid team expansion from five to fifty members within 15 months required focusing on hiring exceptional individuals who aligned with core values, maintained integrity, and brought diverse skills to enhance team dynamics. Balancing speed and quality in hiring emphasized the significance of fostering a culture where continuous learning and growth were prioritized.
Leveraging Data for Growth and User Empowerment
Harnessing vast data collected by Woop wearables, the company leveraged analytics and research to unlock valuable insights, translating raw data into actionable information for users' health and fitness management. By utilizing extensive sleep data and behavioral correlations, Woop empowered users to improve individual health outcomes, highlighting the transformative power of data-driven insights.
Navigating Hardware and Software Alignment in Product Strategies
Balancing hardware and software development challenges necessitates aligning strategic visions, managing different cadences, and leveraging strengths of each component to create cohesive product offerings. Addressing R&D priorities, identification of cut lines for feature releases, and establishing synchronized hardware-software roadmaps are crucial for streamlined product development and alignment with overarching business goals.
Key Lessons in Marketplaces and Product Management
Navigating the dynamics of sales-driven and product-driven approaches in marketplace solutions underscores the importance of prioritizing customer-centric product strategies over bespoke solutions. Embracing product-led transformations empowers companies to drive scalable product offerings, streamline development costs, and enhance market reach. Balancing stakeholder requests with strategic product vision enables sustained innovation and market growth.
Overcoming Dysfunctions in Product Management
Addressing prevalent dysfunctions in product management, such as CEO decision dominance, feature saturation, and reactive development cycles, emphasizes the need for a vision-led product management approach. Defining strategic vision, empowering cross-functional teams, and prioritizing innovation over feature proliferation are essential to overcoming common dysfunctions, fostering sustainable product growth, and aligning product strategies with business objectives.
Importance of Product Vision and Strategy Alignment
Aligning the product vision with the company's strategy is crucial to eliminate sales requests for non-strategic tasks and ensure focus on impactful projects. By clearly articulating the product direction, everyone in the organization can be aligned towards meaningful goals, leading to increased productivity and effectiveness.
Importance of Engagement in Health Tech Solutions
Emphasizing on engagement alongside functionality in health tech solutions is vital for improved patient outcomes. Personalizing recommendations and focusing on patient engagement can lead to better adherence to treatment plans and overall health management. Ensuring that products are effective and accessible to diverse user groups can enhance the impact of health tech solutions.
Ben Foster, Co-founder and Executive Chairman of Prodify and Co-author of Build What Matters: Delivering Key Outcomes with Vision-Led Product Management. Prodify is a product advisory firm that help early-stage companies find product-market(-pricing) fit, or growth-stage companies scale their product team and processes efficiently, or established companies maintain a comfortable lead through vision-led product management principles.
Ben is also the Former Chief Product Officer of WHOOP. A health tech wearable company that has raised over $400M to date and has a post money valuation of $3.6B. WHOOP is a fitness and health technology company known for its wearable fitness tracker and accompanying mobile app subscription. The WHOOP Strap is a wrist-worn device designed to monitor various aspects of an individual's health and fitness. These wearables are used by millions (including celebrity athletes, including swimmer Michael Phelps, basketball player LeBron James, and golfer Tiger Woods.
In our conversation, we discuss:
- How to leverage data generated from wearables in a way to drive consumer engagement
- Whoops pivot from a B2B product to a B2C product
- How did Whoop cross the chasm from early adopters to more mainstream consumers
- Experiences from being a product manager at Ebay and how to build a marketplace product
- What was it like working with Marty Cagen
- What is Prodify and how does Prodify help it’s clients
- Top 3 areas in which product management organizations struggle
- Conducting internal audits of of product management organizations
- Advice for product leaders in healthtech or product managers thinking about entering healthtech?
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Where to find Ben Foster:
- LinkedIn: https://www.linkedin.com/in/benfoster/
- Website: https://www.prodify.group/
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Where to find Angela and Omar:
- Angela Suthrave
- Omar Mousa
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Referenced:
- Prodify’s website: https://www.prodify.group/
- Whoop’s website: https://www.whoop.com/us/en/
- Vision-Led Product Management: https://www.prodify.group/framework/vision-led-product-management
- Build What Matters: Delivering Key Outcomes with Vision-Led Product Management: https://www.amazon.com/Build-What-Matters-Delivering-Vision-Led-ebook/dp/B08GQMCP19/ref=sr_1_1?tag=scribemedia-20&dchild=1&keywords=Ben Foster and Rajesh Nerlikar Build What Matters&qid=1598919535&sr=8-1&geniuslink=true
- Crossing the Chasm, 3rd Edition: Marketing and Selling Disruptive Products to Mainstream Customers by Geoffrey A. Moore: https://www.amazon.com/Crossing-Chasm-3rd-Disruptive-Mainstream/dp/0062292986
- Inspired: How to Create Tech Products Customers Love (Silicon Valley Product Group) by Marty Cagen: https://www.amazon.com/INSPIRED-Create-Tech-Products-Customers/dp/1119387507
- Empowered: Ordinary People, Extaordinary Products (Silicon Valley Product Group) 1st Edition by Matry Cagen: https://www.amazon.com/EMPOWERED-Ordinary-Extraordinary-Products-Silicon/dp/111969129X
- Emily Capodilupo: https://www.linkedin.com/in/emily-capodilupo/
- Kristen Holmes: https://www.linkedin.com/in/kristen-holmes/
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Check out our website: https://www.concepttocare.com
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