Best of 2021: The Different Styles of Decision-Making

Today, in the How to Succeed in Product Management Podcast, Jeff and Red welcome a panel of experts on Product Management to discuss the importance of decision making in the success of any project. The panel of experts, known and respected in their respective expertise, share valuable tips and insights on what it takes to come up with the right decision.

Episode Resources:

• University of Washington
• The Product Management Center
• Jeff Shulman’s LinkedIn

What to Listen For:

• 00:00 Intro
• 01:03 Soumeya Benghanem on the different styles of decision-making
• 03:44 “Understand the right process and structure to use to frame up decisions.” - Adam Grupp
• 05:37 “The expensive and scary are the ones where it's a long-term commitment you can’t change so easily.” - Greg Young
• 08:05 Sumathi Kadambi on the cost of failing to make a decision and the fear of decision-making.
• 12:17 “Create your own metrics for your own product.” Marily Nika
• 14:57 What’s your bold thought on decision-making? 
• 16:37 Is data just confirming what you already know or do you have some wild changes based off of it?
• 20:02 Half of PM decisions are decisions they’re not even conscious of
• 21:26 Build an ecosystem of experts within the company to help make decisions
• 24:24 Favorite decision-making matrix regularly used
• 27:01 Go-to method for sourcing new ideas or iterating mature and new products
• 32:14 Hiring board at Mattress Firm, connect with Sumantro Das
• 34:23 Oftentimes, the best ideas come from unexpected places
• 37:15 Take what makes you successful but apply it in new places that can help make big changes
• 39:05 Be very clear on how everyone makes decisions
• 43:09 Decision-making takes time to build confidence on and to build the tool set
• 44:27 Some things are hard to let go but maybe they're not where our future is
• 46:24 Build a learning organization by understanding how decisions are made and documenting them