Rocketship.fm Impact-First Product Teams: Aligning Goals with Business Success
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Dec 5, 2024 In this engaging discussion, Matt LeMay, an expert in aligning product teams with business success, dives into the concept of impact-first product management. He shares insights on how teams can connect their daily work to larger business objectives, especially in challenging economic climates. LeMay warns against low-impact work that can derail progress and discusses effective goal-setting practices. With actionable strategies for fostering resilient teams, he emphasizes the importance of prioritizing measurable outcomes over mere best practices.
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Impact over Best Practices
- Product managers must prioritize measurable business impact, especially during challenging times.
- Focusing on generic best practices instead of business realities can lead to negative consequences.
Team Goals Close to Company Goals
- Set team goals that are directly linked to company goals, not multiple steps removed.
- This ensures that every team contributes meaningfully to overall business success.
Fintech Platform Goal
- A fintech company transitioned from single product to platform, aiming for $50M in additional revenue.
- One team focused on upgrading 10,000 single-product users to multi-product users due to higher customer lifetime value.
