Global Product Management Talk Transcript Crafting the Business Case

Transcript from May 2/3, 2011
Crafting the Business Case
Global Product Management Talk with Nick Coster
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ProdMgmtTalk Today’s questions for Crafting the Business Case with @nickcoster of @brainmates discussion
http://on.fb.me/fHS7F1

gander2112 Geoffrey Anderson Listening to Metallica to get my typing fingers ready!

cindyfsolomon My followers: Pls join me Global Product Management Talk on twitter http://bit.ly/eC3D09 Crafting
Biz Case w/@nickcoster

ProdMgmtTalk Welcome @piplzchoice @joshua_d @gander2112 Awaiting @brainmates and @nickcoster on
skype

ProdMgmtTalk Welcome to the Global Product Management Talk! Please introduce yourself and where you’re
tweeting from to the group!

ErikaLAndersen Hi...signing in from Salt Lake City, UT to #prodmgmttalk

jidoctor coming to you from @Mpls, where yes, there was snow flurries today, for the weekly #prodmgmttalk

piplzchoice Gregory Yankelovich Hello to everyone from the East side of SF Bay

gander2112 Geoffrey Anderson Here in the 80F Tucson sun

gander2112 @jidoctor @Mpls Not to make you jealous, but should be 97F by Wednesday ;-)

RhodaBernstein Greetings from the Twin Cities in Minnesota

nickcoster Hello everyone. It is great to be here to talk about the different faces of the business case

brainmates And hello from the brainmates team in Sydney.

rcauvin Roger L. Cauvin @nickcoster Hi Nick! Looking forward to your thoughts on business cases

Sponsor Opportunities! http://bit.ly/gF0Tt3


Macmyday Jorg G'day from Sydney

bdoctor Barry Doctor Barry from Minneapolis is here for #prodmgmttalk

cindyfsolomon Welcome @bdoctor @Macmyday @rcauvin @RhodaBernstein

KirstenLester Kirsten is here from Dallas

cindyfsolomon Friends - I overused the @prodmgmttalk handle sending invitations today, so I'm tweeting from my
own handle across bay from San Francisco!

Macmyday Jorg A bit lazy for an intro today, so I let my profile speak http://j.mp/j44hXe

wapolanco W. Alejandro Polanco Hey all. Alex P from sunny So Florida.

cindyfsolomon Welcome @KirstenLester - having some tech issues - @nickcoster will be with us asap

cindyfsolomon Today’s questions for discussion http://on.fb.me/fHS7F1

prodmgmttalk Our format: Questions for discussion are discussed one at a time with Q# preceding question, A#
your answer

prodmgmttalk Intro @nickcoster building products and services that delight the buyer and the user

gander2112 Hopefully not as severe tech issues as #sony lately ;-)

cindyfsolomon Intro @nickcoster Nick has been developing and managing products for over 13 years

prodmgmttalk @nickcoster developed a deep understanding how different technologies fit together with customer
use.

prodmgmttalk Intro @nickcoster co-founder brainmates passionate about benefits of putting customer before
technology & building products & services that delight buyer & user.

nickcoster Hello everyone! I am looking forward to your questions and insights

prodmgmttalk Here we go! Q1 What is the main purpose of the Business Case?

Macmyday Jorg A1 Justifying the investment to the business



Macmyday Jorg A1 Outlining the background, drivers, path to achievement, revenue & cost expectations (and
probably more I forgot right now)

KirstenLester A1: For justification, prioritization, visibility = reasons for biz case

gander2112 Geoffrey Anderson A1: A BC is a document that identifies an opportunity, and a plan for attack.

paulalexgray Hello all - I'm joining #prodmgmttalk to chat product management

bdoctor Barry Doctor A1. to prioritize the investments

nickcoster A1) The purpose of the business case is to faciliate decision making

VFigatelix @ProdMgmtTalk having internet issues should be able to join soon

gander2112 Geoffrey Anderson A1: It should be the "What" the "How", the "Why", and also include the risks.
Often the first step in a 7step PLC

KirstenLester @gander2112 So a bizcase includes the go-to-mkt plan? How much detail is appropriate?

paulalexgray A1: I think a business case should quantify and qualify an opportunity in context of expected return
vs. cost

jidoctor agree w/ @gander2112 & @KirstenLester combined: to justify the investment, outlining a plan w/ priorties

wapolanco W. Alejandro Polanco A1: as @macmyday stated: justify the investment. But also #prodmgmt tool to
sell your idea/concept to key stakeholders.

cindyfsolomon RT @Macmyday: A1 Outlining the background, drivers, path to achievement, revenue & cost
expectations (& probably more)

nickcoster A1) It does this by communicating the minimum required information to make that decision to the
decision makers

wapolanco @gander2112: A1: It should be the "What" the "How", the "Why", + include the risks. Often the first
step in a 7step PLC

jidoctor @KirstenLester i don't think the biz case includes the gtm plan, but should have a straregy incl, as part of
the justification



cindyfsolomon @nickcoster - what is the dif betw biz case & Marketing Requirements? biz case preceeds MRD?

nickcoster A1) as @bdoctor says, it is used to determine what resources to spend and when.

gander2112 @jidoctor @KirstenLester I think in a new market/tech/product realm, it needs to have some GTM
component

jidoctor a1 @nickcoster , but that minimum info level varies depending on org environment. must know that to
preceed

thefairdesmondo Damian Fawkner A1.2 provide th decision makers wth info 2 make a 'go' or 'no-go' decision 2
either develop or worthy of more investigation

cindyfsolomon Q1: so biz case is for prod innovation vs. new product devel?

bdoctor Barry Doctor RT @nickcoster: A1) It does this by communicating the min required information to make
that decision to the decision makers

wapolanco W. Alejandro Polanco @gander2112 Not sure about "wide" audience. The BC is part of kickoff. Don't
want too many cooks in the kitchen at the outset.

gander2112 Geoffrey Anderson Biz Case is before MRD. Bizcase is concise, precise, and targeted. MRD is
comprehensive, and much longer (usually)

Macmyday Jorg A1 An aside: A biz case is the one thing (I believe) that ProdMgmt and ProjMgmt have in common

VFigatelix Veronica Figarella Hello I'm joining the talk today!

@cindyfsolomon @nickcoster The first stage of the BC will determine if it is even worth exploring the MRD further.

KirstenLester Unfortunately for most orgs/processes, the biz case is incl in the MRD. Most of the time decision is
already made.

jidoctor@cindyfsolomon: Q1: NO! a biz case is for BOTH prod innovation & new product devel, at all efforts

gander2112 Geoffrey Anderson @wapolanco @gander2112 At first the BC isn't wide, but later in the project, it will
be seen by many, and must speak to them 2

bdoctor RT @gander2112: Biz Case is before MRD. Bizcase is concise, precise, and targeted. MRD is
comprehensive, and much longer


jidoctor agree w/ @bdoctor & @gander2112 , biz case should come before MRD, to determine if effort should be
made.

gander2112 True, and unfortunately. If I had a $ for ... @KirstenLester: Unfortunately most orgs/processes, biz case
is incl in the MRD.

Prodmgmttalk Q2 Are there any other outcomes that the Business Case addresses?

KirstenLester @bdoctor u have right approach = Bizcase is concise, precise, and targeted

ErikaLAndersen RT @jidoctor: agree w/ @bdoctor & @gander2112 , biz case should come before MRD, to
determine if effort should be made.

wapolanco RT @gander2112: Biz Case is before MRD. Bizcase is concise, precise, and targeted. MRD is
comprehensive, and much longer

gander2112 Beware of Bis Dev opportunities w/o Biz Case

wapolanco W. Alejandro Polanco @gander2112 agreed there!

bdoctor Biz case should have minimum amt of info to prove case.

rcauvin Roger L. Cauvin #leanstartup folks use a "business model canvas" to convey hypotheses & assumptions in a
business case. http://bit.ly/iudhOk

nickcoster @KirstenLester If they are in the same document it is OK, bu the thinking behind the Biz Case should
precede the MRD thinking.

cindyfsolomon Q2. Got it - in a start-up "initial" Biz case is presented to VCs. @nickcoster says there's dif
stages/phases of biz case

KirstenLester A2: Bizcase preps depts that rqmts phase is imminent, so start thinking about what we r to
accomplish

rcauvin Interested in what @nickcoster thinks of the business model canvas. http://bit.ly/iudhOk

gander2112 RT @jidoctor: a2: biz case could "subtly" point out weaknesses/strengths w/i org, to help w/
investment decision

bdoctor Biz case is NOT a complete biz plan for the product


cindyfsolomon Welcome @gnosisarts @wapolanco @rcauvin @jidoctor

nickcoster A2) Readers should know the "story" behind the Business Opportunity. Including the target market and
the problem to be solved.

KirstenLester @nickcoster I agree, is SHOULD b b4 MRD. It's just an unfortunate observation for most orgs I've
been part of= exec mandates

ErikaLAndersen RT @bdoctor: Biz case is NOT a complete biz plan for the product

gander2112 A2: Biz Case should highlight upside, downside, opportunity cost, impact to org, "Why we win" and
what the comp. is up to

VFigatelix Q2: A BC is an equivalent to a lab and helps us decide if the idea is really an opportunity

nickcoster A2) It must be clear how both the market will benefit (and exchange value) and how the business plans
to extract that value.

jidoctor yes, @nickcoster, story shld be known, but might not be - biz case should stand on its own w/o having to
tell whole backstory

cindyfsolomon A2: "story" who its for, what problem solving, how benefits biz dovetails w/@joshua d talk on
storytelling http://bit.ly/kNYywE

gander2112 A2: A BC should have a summary of the VoC efforts, and how the opportunity fits into your core
competency

rcauvin W/ a business model canvas, business case is concise & is eleborated w/ explicit assumptions to be tested
incrementally

wapolanco This is key. BC needs to be a concise exploratory kickoff RT @bdoctor: Biz case is NOT a complete biz
plan for the product

KirstenLester @nickcoster well said... clear how both the market will benefit (and exchange value) & how the biz
plans 2 extract that value

nickcoster A2) As the BC evolves it will also include the anticipated costs of addressing the opportunity.

VFigatelix Q2: BC can also we one of the check points in a go/ no go decision



gander2112 @nickcoster Does the BC evolve, or does it spawn a business plan (or MRD)?

nickcoster We break the BC in to 4 stages to deal with the problem of an evolving doc. Each supports different
decisions.

cindyfsolomon Q3 What is Product Managements role in the development of the the Business Case?

ErikaLAndersen RT @gander2112: A2: A BC should have a summary of the VoC efforts, and how the opportunity
fits into your core competency

Macmyday Jorg Big picture is needed RT @nickcoster A2) Know the "story" behind biz opp. Including the target
market & problem 2b solved.

ErikaLAndersen @nickcoster What are the 4 stages?

jidoctor @gander2112 the biz case should have the right info for mkt, it might be #VOM efforts and not #VOC - be
clear on distinction

KirstenLester A3: In lieu of exec sponsor willing to write, PM to write, but still need exec sponsor to push to exec
levels

cindyfsolomon @ErikaLAndersen @nickcoster you caught it Erika! Made note for Nick to expand on 4 stages!

nickcoster A3) Product Management needs to own the outcome of the business case, since they will be measured
against it on implementation

gander2112 @jidoctor @gander2112 Good point on the distinction between Voc and VoM

VFigatelix Q3: PM's are and Prod Mktg are fundamental in BC input - aren't we the market and customer experts?
(or wannabe)

piplzchoice Gregory Yankelovich @jidoctor Is #VOM defined as Voice of Market?#VOC

wapolanco @gander2112 @nickcoster Parts of the BC (mkt need research) will give you a foundation for the MRD
not necesarily evolve to it

gander2112 A3: #prodmgmt is the principal architect of the Biz Case, but needs much collaboration to get the
message/story/data in place

cindyfsolomon Note to @prodmgmttalk: schedule talk addressing distinction between Voc and VoM


Macmyday @VFigatelix Not just 'can', but must ;)

rcauvin @nickcoster Dangerous to look at business case as fixed. It should be assumed to be wrong and require
incremental revision.

gander2112 A3: As PM, I get some flimsy BC's tossed my way to flesh out. We are a first smell test

nickcoster A3) The PM should always be involved in the BC development but the inputs will come from all over the
business.

ErikaLAndersen Seconded. RT @cindyfsolomon: Note to @prodmgmttalk: schedule talk addressing distinction
between Voc and VoM

cindyfsolomon @jidoctor Does the market itself (VOM?) have a distinct voice?

nickcoster @rcauvin Ahh the Agile business case!! Thanks Roger.

gander2112 @nickcoster re: wide inputs needed - I call this "breathing our own exhaust" A bad practice

gander2112 I would think of it as a superset RT @cindyfsolomon: @jidoctor Does the market itself (VOM?) have a
distinct voice?

ErikaLAndersen RT @rcauvin: @nickcoster Dangerous to look at business case as fixed. Assume wrong and require
incremental revision

ErikaLAndersen RT @gander2112: @nickcoster re: wide inputs needed - I call this "breathing our own exhaust" A
bad practice

rcauvin @nickcoster Need to identify & test the assumptions of the business case early & revise accordingly.

jidoctor @gander2112 vom is not necessarily a subset of voc, but the voc is more likely to be a subset of vom.

VFigatelix @nickcoster can you please tell us about the agile BC?

gander2112 My problem with changing/evolving BC is that selective amnesia seems to be common, and
#prodmgmt gets blamed for deviations

nickcoster @gander2112 "breathing our own exhaust" - this should not be the key driver of the BC, but should still
be considered



piplzchoice @jidoctor how do you distinguish between WoM and VoM?

ErikaLAndersen Missing out. RT @gnosisarts: Thanks, Cindy. Im not actually joining in #prodmgmttalk, I was only
RTing to my followers :-)

gander2112 @nickcoster @gander2112 It is why I live the "validate" everything life. re: Breathing our own exhaust

nickcoster @rcauvin Agree. good opening for the 4 BC stages discussion.

gander2112 Has anyone ever been asked to create a BC ex post facto? Really bad practice.

cindyfsolomon Coming up! @nickcoster giving us the 4 Business Case stages

rcauvin @VFigatelix #lean uses "agile business cases". It's about testing business hypotheses iteratively much as
devs test software.

bdoctor RT @nickcoster: @gander2112 "breathing our own exhaust" - this should not be the key dvr of the BC, but
shd still be considrd

rcauvin @nickcoster We are waiting with bated breath to hear about the four stages :-)

Macmyday Just the way I see it @nickcoster RT A3) PM should always be involved in BC dev but inputs will come
from all over the biz

VFigatelix @rcauvin thanks!

cindyfsolomon RT @nickcoster: Stage 1 Biz Opportunity Very high level Opportunity assessmnt Who is target Mkt,
what prblm, what value?

ErikaLAndersen Yes! RT @cindyfsolomon: Coming up! @nickcoster giving us the 4 Business Case stages

jidoctor #prodmgmttalk crowd: pls be patient, twitter is really really slow tonight (is there other news to discuss?)

nickcoster Stage 1 - Business Opportunity - Very high level Opportunity assessment . Who is the target Mkt, what
prblm, what value?

bdoctor ive got too many product ideas in hopper to evolve BC - prioritize is more impt to max investments

nickcoster Stage 2) Draft BC - match Bus Opp to company strategy. describe business / revenue model, validate bus
Opp with rigor.


gander2112 @nickcoster Does your stage 2 include mapping to competencies/capabilities?

nickcoster Stage 1 and 2) do not contain solutions or costings. Just opportunities and problem descriptions.

rcauvin @nickcoster Yes, important to align products with larger corporate strategy and product lines.

bdoctor @gander2112 ex post facto is like rewriting history

cindyfsolomon RT @nickcoster: Stage 2) Draft BC - match Biz Opp 2 comp strategy. describe biz / revenue model,
validate biz Opp w/ rigor

jidoctor @nickcoster seems these r more the 4 elements of biz case, & not stages. execs want info faster than 4
iterations on a prop

Kirsten Lester RT @nickcoster: Stage 1 Biz Opportunity Very hi-level Opp assessmnt Who is target Mkt, what prblm,
what value?

nickcoster Stage 3) Preliminary Business Case - Follows MRD and some solution design. Used to select from costed
solution alternatives

Erika Andersen RT @wapolanco: Amen! RT @bdoctor: Too many product ideas in hopper to evolve BC - prioritize
more impt to max investments

gander2112 But it happens too often. Usually with broken processes RT @bdoctor: @gander2112 ex post facto is
like rewriting history

nickcoster Stage 4) Baseline BC - final approved version that initiates implementation, launch and post launch
operations.

KirstenLester RT @nickcoster: Stage 1 and 2) do not contain solutions or costings. Just opportunities and problem
descriptions.

cindyfsolomon RT @nickcoster: Stage 3) Preliminary Biz Case - Follows MRD & some solution design. Use 2 select
costed solution alterntv

gander2112 MRD before stage 3? RT @nickcoster: Stage 3) Preliminary Business Case - Follows MRD and some
solution design



VFigatelix RT @nickcoster: Stage 3) Preliminary Business Case - Follows MRD and some solution design. Used to
select from costed solution alternatives.

cindyfsolomon RT @nickcoster: Stage 4) Baseline BC - final approved version initiates implementation, launch and
post launch operations.

nickcoster Each stage has requires a different decision to be made to proceed.

VFigatelix RT @nickcoster: Stage 4) Baseline BC - final approved version that initiates implementation, launch and
post launch operations.

KirstenLester RT @nickcoster Stg 3) Prelim Biz Case - Follows MRD & some solution design. Used to select from
costed solution alts.

ErikaLAndersen @gander2112 @bdoctor: Is it typical to keep BC versions as it progresses?

cindyfsolomon RT @nickcoster: Each stage requires a different decision to be made to proceed.

gander2112 How much on the GTM here? or is this later in dev process? RT @nickcoster: Stage 4) Baseline BC
launch and post launch

gander2112 This sounds like PLC not strictly BC RT @nickcoster: Each stage has requires a different decision to be
made to proceed.

KirstenLester RT @nickcoster Stage 4) Baseline BC-final approved version that initiates implementation, launch &
post launch operations

VFigatelix @ErikaLAndersen @gander2112 @bdoctor I do, I keep versions of the BC to address temporary amnesia
=D

ErikaLAndersen GTM? RT @gander2112: How much on the GTM here? or is this later in dev process?

jidoctor @nickcoster still believe you can do all in 1 to meet needs of audience (execs), w/ 4 diff you will lose
attention & support

KirstenLester RT @nickcoster: Each stage has requires a different decision to be made to proceed.

gander2112 @ErikaLAndersen @gander2112 GTM = Go to Market –

VFigatelix @gander2112 What is PLC please?


jidoctor @nickcoster classic #prodmktg: know thy audience. execs don't have that must time. they work faster.

nickcoster @gander2112 Draft BC stage initiates MRD and product design funding. Without this costs are difficult
to estimate.

ErikaLAndersen GTM = Go to Market, right?

gander2112 RT @VFigatelix: @gander2112 What is PLC please? - PLC = Product Life Cycle

gander2112 @nickcoster @gander2112 Got it, a lifecycle of BC/MRD/Business Plan then

cindyfsolomon Lots of info & context from @nickcoster. Looping back to Q4: What information is contained in a
Business Case?

KirstenLester @jidoctor @nickcoster MOST parties won't read, unless invested in some way, if you are lucky. not
sure of FOUR stages

joshua_d RT @gander2112: My problem with changing/evolving BC is that selective amnesia seems to be common,
and #prodmgmt gets blamed for deviations

wapolanco @nickcoster @gander2112 Draft/first iteration of BC gives insight into initial costs and MRD foundation

bdoctor @ErikaLAndersen I dont usually version the BC - treat em & street them - just enough info 2 qualify project
- Save them? YES

nickcoster @jidoctor These are not really diff Docs, just clear development stages towards the Baseline BC.
#prodmgmttalk

gander2112 A4: The problem. A proposed Solution. Who will buy it. Why we want to do it. Why we CAN do it. Why
we Should do it.

bdoctor Agreed! RT @KirstenLester: @jidoctor @nickcoster MOST parties wnt read, unless invested in sum way, if
U R lucky.

KirstenLester @bdoctor @ErikaLAndersen Most bz cases for partnered services are LOIs, turn biz case ... one &
done

cindyfsolomon So the stages are iterations towards arriving at the baseline - a simple statement requires complex
thinking


KirstenLester @nickcoster Are you saying BC is a staged process, not a doc?

rcauvin For what should go in a business case, check out http://bit.ly/iPXUPg. #prodmgmttalk (Early access code is
'lean2010'.)

bdoctor & talk ROI RT @jidoctor: @nickcoster classic #prodmktg: know thy audience. execs don't have that must
time. they work faster.

nickcoster A4) Target Marget. The problem or need that is unsatisfied in the target market. The value of the
resulting opportunity...

gander2112 Sounds like it evolves to a full biz plan RT @KirstenLester: @nickcoster Are you saying BC is a staged
process, not a doc?

VFigatelix @jidoctor @nickcoster stages do not have to happen separately, but they explain "logically" how to
build the BC

cindyfsolomon @KirstenLester LOIs? laughter on investment?

ErikaLAndersen Or staged process to create doc? RT @KirstenLester: @nickcoster Are you saying BC is a staged
process, not a doc?

wapolanco A4: problem/opportunity, proposal, audience, competition/alternatives/threats, cost.

jidoctor @mickcoster @KirstenLester @VFigatelix yes-a logical bld following staged process, not staged doc
approach, to the biz case

cindyfsolomon Q5 What is the best way to get started writing the Business Case?

gander2112 Very good summary! RT @wapolanco: A4: problem/opportunity, proposal, audience,
competition/alternatives/threats, cost.

bdoctor Staged process? I guess that my BC stops at first draft - attn span of audience at risk

nickcoster A4) ... competitor landscape, Link to business strategy, issues and risks of delivery, Advantages gained,
financial return.

VFigatelix Q4: BC should contain a credible number that reflects the size of the opportunity



gander2112 A4: Don't forget a competitive landscape. Getting sniped sucks.

rcauvin #prodmgmttalk A5) Start with the candidate problems to be solved.

rcauvin RT @gander2112: A4: Don't forget a competitive landscape. Getting sniped sucks.

bdoctor YES RT @VFigatelix: Q4: BC should contain a credible number that reflects the size of the opportunity

gander2112 A4 - Every BC I have done has an IRR and an NPV analysis too.

wapolanco @cindyfsolomon Identify and articulate the problem with as much detail as possible without diverting.

jidoctor agree w/ @gander2112 & @wapolanco : problem/oppty, proposal, audience,
competition/alternatives/threats, cost.=simple & sweet

VFigatelix Q4: should explain how you got to that "number" that makes it a worthy opportunity

gander2112 Can't over state this. TRUE RT @VFigatelix: Q4: BC should contain a credible number that reflects the
size of the opportunity

wapolanco @gander2112 @wapolanco Thx!

rcauvin @gander2112 Competitive and problem landscape should be central to positioning and the larger business
case.

ErikaLAndersen RT @gander2112: A4 - Every BC I have done has an IRR and an NPV analysis too.

bdoctor I use that # to prioritize RT @VFigatelix: Q4: BC should contain a credible number that reflects the size of
the opportunity

VFigatelix Q4: Show the reasoning behind your number and show it out loud - it should get exec's attention very
quick

nickcoster A4) The overall BC should tell a compelling story that convinces the decision makers that the investment
is worthy.

leanbot @rcauvin: folks use a "business model canvas" to convey hypotheses & assumptions in a business case.
http://bit.ly/iudhOk

KirstenLester RT @ErikaLAndersen: RT @gander2112: A4 - Every BC I have done has an IRR and an NPV analysis too


VFigatelix @bdoctor I use that # too but also add strategic value and complexity of implementation for
prioritization

rcauvin For which single idea or theme will your product stand in the mind of prospects? BC should answer that
question

wapolanco @VFigatelix exactly! As PMs we're responsible for the data backing up our recommendation. Once
verified. Communicate!

gander2112 A4 - I have seen too many BC's that are completely BS in their market sizing and opportunity estimates

cindyfsolomon Skipping Q6, going to Q7: What is the best way of delivering the Business Case to stakeholders?

wapolanco @gander2112 Does the PM have an agenda in that case?

jidoctor @nickcoster agree, overall BC should convince the investment is worthy=need to tlk 2 audience w/ rt amt
of info in rt method.

rcauvin #prodmgmttalk A7: Deliver the business case with a story!

VFigatelix Q5: best way to start is: size of the market and y/growth, size of the demand and y/growth - BASIC

KirstenLester @gander2112 A4: BS in bizcase? never! if guesstimates, state assumptions

gander2112 @wapolanco @gander2112 Yes. But they never get called on

cindyfsolomon Today, each tweet deserves its own in depth blog posting and discussion!

VFigatelix Q7: on *.ppt =D (humor)

ErikaLAndersen @nickcoster - Diff decision makers excited by diff things. So NPV/IRR for finance; story for
marketing; etc?

nickcoster @wapolanco @gander2112 If the PM doesn't believe in the story and the supporting data then they
should say so

bdoctor #prodmgmttalk A7: Deliver all the BC data into simple access db

gander2112 A7: Best to socialize with stakeholders/decision makers in the drafting process so no surprises. Then in
person, live is poss


KirstenLester @wapolanco @gander2112 either PM has agenda, or don't take time to get data, or they don't know
how to get data = bad practice

gander2112 A7: Never by email. F2F is preferred.

ErikaLAndersen Unless it ends up in court. Not fun. RT @gander2112: @wapolanco @gander2112 Yes. But they
never get called on it

jidoctor it's #prodmgmt job to say idea has no merit/validity. and, if not, no BC should be prepared

rcauvin RT @gander2112: A7: Never by email. F2F is preferred.

VFigatelix Q7: images on *.*ppt has worked for me over the years (still humor, but noo laughs)

wapolanco @gander2112 @wapolanco Scary! Mktg team or leadership should always question/verify.

gander2112 @KirstenLester @wapolanco @gander2112 Right on all three counts. I am brutally upfront, and
honest in my calc's

bdoctor RT @jidoctor: it's #prodmgmt job to say idea has no merit/validity. and, if not, no BC should be prepared

gander2112 @wapolanco @gander2112 - It was an interesting dynamic. Their projects got selected, but the
products tanked. over and over

nickcoster A7) The BC is a source doc for all of the data and thinking that has been done. Know the audience and
deliver what they need.

rcauvin Present testable biz hypotheses & assumptions to management, as well as an outline of a plan to do the
testing.

paulalexgray A7. Why not combine a presentation with audio/video of target customers expressing needs/wants

jidoctor @nickcoster: disagree. bc is not source doc, it is the ok to go do more effort. the foundation, not teh
definitive word

cindyfsolomon People - please take one point from today and blog about it! I'll post all blogs at
http://www.prodmgmttalk.com

nickcoster A7) ie Exec Summary, PPT Deck, 30 second elevator pitch. Prepare them all. Use them as needed.



gander2112 It also becomes Plan of Rec. RT @nickcoster: A7) The BC is a source doc for all of the data and thinking
that has been done.

c_almgren RT @rcauvin: #prodmgmttalk A7: Deliver the business case with a story!

wapolanco @gander2112 @wapolanco PM was a good sales person and got buy-in but not tactical enough.

VFigatelix Q7: 1) know your audience and their time to listen, 2)say it straight to the point 3) Support your message
with all necessary

ErikaLAndersen In addition to or part of BC? RT @rcauvin: Presnt testable biz hypos & assumptions to management

nickcoster @jidoctor @nickcoster It is the source relative to the information required to make the decision. It will
ref other sources.

gander2112 A7: Be ready to answer ALL questions, even the most hare brained OTW ones.

cindyfsolomon Nick, will you speak again w/focus on financial measures used in biz case, NPV and Q7,8,9?

KirstenLester @cindyfsolomon We are only scratching surface of important #prodmgmt topic - biz case - thx
@nickcoster for moderating/insight

ErikaLAndersen Seconded RT @cindyfsolomon: Nick, will you speak again w/focus on financial measures used in biz
case, NPV and Q7,8,9?

gander2112 @wapolanco You should read my blog post on why sales people make poor

cindyfsolomon Join us Next week for “The Product Marketing Dilemma” with Geoffrey Anderson @gander2112

VFigatelix @cindyfsolomon @nickcoster Yes please do so! we want more BC talk from Nick!

gander2112 Great session all. Very thought provoking.

nickcoster Thanks Folks. It is a big topic.

cindyfsolomon Like us on Facebook! updates, discussions, issues, speakers Global Product Management Talk
http://on.fb.me/gEAZiS

wapolanco A7: Frame your data to paint a story for stakeholders. Data is key but in the end it's boring. Stakeholder
wants the big pic!


VFigatelix RT @cindyfsolomon: Join us Next week for “The Product Marketing Dilemma” with Geoffrey Anderson
@gander2112

gander2112 Gosh, that's me! RT @cindyfsolomon: Join us Next week for “The Product Marketing Dilemma” with
Geoffrey Anderson @gander2112

VFigatelix @gander2112 OTW being?

ErikaLAndersen Looking foward to it RT @cindyfsolomon: Join us next week for “The Product Marketing Dilemma”
w/ @gander2112

jidoctor RT @gander2112: Great session all. Very thought provoking. #prodmgmttalk - now, time to go & shovel ;-)

rcauvin @ErikaLAndersen Part of or in conjunction with.

cindyfsolomon @gander2112 @wapolanco what's URL of blog post re: salespeople vs. pms?

brainmates Thanks for keeping up with everything today Cindy.

cindyfsolomon Thank you for a thought provoking session, @nickcoster

gander2112 @VFigatelix OTW = Off the Wall or odd, bizarre, weird

VFigatelix Thanks for your ideas and time! see you next week LOL!

ErikaLAndersen RT @wapolanco: A7: Frame your data to paint story for stakeholders. Data key but boring.
Stakeholders want big pic!

cindyfsolomon Lots of acronymns today!

gander2112 @cindyfsolomon @gander2112 @wapolanco http://tralfaz.org/2011/02/when-product-managers-fail-
part-ii-sales/

ErikaLAndersen Thanks. RT @rcauvin: @ErikaLAndersen Part of or in conjunction with.

wapolanco Thanks everyone. Lot's of good insight. Can't wait 'til next week with @gander2112

cindyfsolomon New challenges to producing transcript - however, will post w/in 48 hours. Ebooks of talk sessions
coming soon!


nickcoster @ErikaLAndersen @wapolanco Need to create emotional connection with story supported by Data.

ErikaLAndersen Sometimes seems like fun puzzle to be solved. RT @cindyfsolomon: Lots of acronymns today!

cindyfsolomon Thank you everyone - you will be included in the twitter list for today's session posted at
http://www.prodmgmttalk.com

nickcoster see http://www.brainmates.com.au/brainrants/what-is-a-business-case for BC stages.

wapolanco @nickcoster @ErikaLAndersen @wapolanco And that's when you put on your sales person hat :)

BusinessHut RT @nickcoster: A7) The BC is a source doc for the data and thinking that has been done. Know
audience deliver what they need.

BusinessHut RT @nickcoster: @wapolanco @gander2112 If the PM doesn't believe in the story and supporting
data then they should say so

Macmyday @ProdMgmtTalk @cindyfsolomon @nickcoster Sorry, I couldn't participate much today. Work was
calling. I'll read the transcript

bcgaden A little bummed that I always have something going on for #prodmgmttalk one of these days...

Macmyday @VFigatelix Just wondering, wouldn't that then be a tactical rather than a strategic product?

Wilma_Myers RT @gander2112: @wapolanco You should read my blog post on why sales people make poor

brainmates RT @nickcoster: @cindyfsolomon @nickcoster The first stage of the BC will determine if it is even
worth exploring the MRD further.

brainmates RT @nickcoster: A3) Product Management needs to own the outcome of the business case, since they
will be measured against it on implementation

berkshire_ideas @ProdMgmtTalk Sorry, I couldnt break away. Hope it was a successful chat.


Global Product Management Talk Transcript Crafting the Business Case

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