#26 Combining business & product mindsets - with Rich Mironov @Product Management Consultant & Author
Jan 28, 2021
auto_awesome
Product Management Consultant & Author, Rich Mironov, shares insights on working with executives, negotiating with stakeholders, and tackling challenges in product management. Topics include prioritizing value delivery, managing stakeholders without product backgrounds, and tips for new product leaders.
Establish clear customer segmentation for better product alignment.
Create thumbnail business cases for effective prioritization and focus on high-value initiatives.
Deep dives
Key Tip 1: Customer Segmentation and Clarity
Establish a clear customer segmentation strategy to focus on the key customer groups and their needs. By understanding the segments, their economic value, and reasons for purchasing, product leaders can align the product strategies more effectively.
Key Tip 2: Thumbnail Business Case Development
Create thumbnail business cases to quickly assess the potential impact of new initiatives. By outlining the expected outcomes, revenue impacts, and strategic importance of a project in a concise manner, product leaders can prioritize effectively and focus on high-value initiatives.
Key Tip 3: Team Alignment and Prioritization
Ensure that product managers are aligned with development teams to avoid conflicting priorities and enhance productivity. By organizing long-running value-based teams and encouraging outcome-driven collaboration, product leaders can streamline workflows and improve prioritization.
Rich Mironov works for more than +30 years in Product Management. Based on his experience as an Independent Product Consultant & Coach with more than 150 clients he shares his thoughts and observations of Product Teams in B2B enterprise.
In this episode, he talked to the Product Bakers about how to work as a Product Leader with executives, as well as the topic of negotiating and managing stakeholders and incoming requests.
Table of content:
0:28 - Intro
5:45 - Organisational misalignment
6:45 - Product vs project management
7:45 - Product management becoming the bottleneck
10:15 - Working with a founder CEO
13:00 - PMs are anthropologists
17:05 - State of Product Management vs. Product Design
22:15 - Prioritizing & negotiating with stakeholders (e.g. Sales Team)
30:05 - Working with stakeholders who have no product background
33:40 - Working as a PM with a boss who has no product background
39:20 - What keeps Rich awake at night
42:45 - Deeply understanding customers & values
48:30 - Three tips for everyone who recently started a Product Lead role