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Product Mindset

  1. 1. ProductMindset Hải Phạm, Tài Lê 14-09-2019
  2. 2. 2 Whoweare • 17 years of experience in Software Development • Proven track record in delivering various offshore application development engagements and recently lead Digital Transformation Center • Technologies in Scope: Cloud Native Applications, Chatbot/AI, Robotics Process Automation, Mobile Apps, DevOps, ServiceNow • Scaled Agile, PMP, Mini MBA, eCornell's Executive Leadership and Certified Microsoft Professional • ITLC Founder • AI Product Lead at Sendo • 22 years experience in IT, in which he spent 10+ years on Technical Management and Product Development at technology-based organizations and technology startups
  3. 3. Objectives Sep 2019 3 1. What’s wrong with Project and what is Product Mindset 2. Case Study and 3 Product Mindset 3. Optimal Product Process
  4. 4. • There’s nothing wrong with a project • “a temporary endeavor undertaken to create a unique product, service or result” • Organizations start projects to deliver on time, under budget, and within scope. The project is declared a success. 4 Plan Analyze Design Implement Test Release Project Predictable? Scope Cost Schedule ProjectMindset How about: continuously optimizing the delivered value • A project that meets all the deadlines, within budget and scope can still result in a crappy product • The result will be "operation succeeded (the project), but the patient died (the product)"
  5. 5. ProductMindset • Products team: longer lifetime than project teams • Focus on the outcome teams deliver instead of the output • Focus: building the right product! 5 Scope Cost Schedule Market needs Disruptive Technologies Customer Expectations
  6. 6. BookMarketinVietnam 1. 2017 revenue reached VND 2,892 billion (increase 31.4%, 2016) 2. Publishers' profit: ~ 190.4 billion VND 3. More than 300 book companies, 40 publishers
  7. 7. 7 What’sistheProblem? Book company Production (translate, edit, design…) Distribution/ Wholesales Payback period: 12-18 months
  8. 8. Global eBookMarket 1. Market size $ 15 million (10%) 2. No winner take all 3. Young population 4. Overseas Vietnamese (4,5 m) 8
  9. 9. Demographics 1. Age: U24 2. Male 3. Technology 4. Engineering Management 5. 1K $ Buying (books) habbits 1. Monthly (500K) 2. Publisher based 3. Topics helps improve core values 4. Update trends 5. Non-Fiction (Black Swan; Thinkings, Fast & Slow…) Psychographics 1. Lean mindset 2. Sharing know-how 3. Funny Userpersona 9
  10. 10. PainPoints &Needforsolution • Needs 3-5 books/month (buying for fun) • Shallow & deep • Notes collections for share Facebook • Lean on the table • Reads everywhere • Over cost • Not easy to share quotes • Search/Collection/Topic • Can’t read in the toilet ;-) 10
  11. 11. 11
  12. 12. Ybook 12
  13. 13. Ybook–UX/UI 13
  14. 14. 1. 10,000+ downloaded 2. Last updated: 5/12/2017 3. Pyramid Software and Consulting 14
  15. 15. 1. Nhà Phương Nam Nhiều sách không kém NXB Trẻ 2. App làm theo chuẩn EPUB 3. Giải quyết được nhu cầu đọc căn bản 4. Sách bán giá cũng tạm được luôn PhuongNam 15
  16. 16. 1. 10,000+ lượt downloaded 2. Last updated: 18/6/2018 3. In-house development 16
  17. 17. 17
  18. 18. 1. 6000 ebooks, magazines 2. EPUB 3. subscription : 350,000$/year 4. Tech startup 18
  19. 19. ProductMindset#1 19 Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves
  20. 20. How The Coffee House uses mobile app to increase sales? 20
  21. 21. TheCoffeeHouseMobileApp 100,000+ download Cập nhật gần nhất: 14/8/2019 21
  22. 22. WhatIcando? ToDoList Implementation Mandate Checking provider Me 3 Pitching Me 3 Choose the one Me 1 Business analysis Provider 2 Design & final concept Provider 3 Technical initial Provider 5 Development Provider 15 Testing & UAT Provider & me 5 Transferring Provider & me 3 22
  23. 23. 23
  24. 24. Howtechstartupssurvive? • Unknown • Validated Learning • Minimize total time throught loop • Learn.Build.Meansure • MVP • Pivot 24
  25. 25. 25
  26. 26. 26
  27. 27. HowTheCoffeeHousedevelopsloyaltyapp? 27
  28. 28. Becomingonlinedeliverychannel 28
  29. 29. ProductMindset#2 29 Don’t be in a rush to get big. Be in a rush to have a great product Eric Ries - The Lean Startup
  30. 30. CrossingtheChasm-MarketingandSellingHigh-TechProductstoMainstreamCustomers Crossing the Chasm: Marketing and Selling High-tech Products to Mainstream Customers (1991, revised 1999 and 2014). Inside the Tornado: Marketing Strategies from Silicon Valley's Cutting Edge (1995) 30
  31. 31. Grab-Gettingmoremoney! 31
  32. 32. 32 TheCoffeeHouse–Delivery Services
  33. 33. ProductMindset#3 “Startups don’t fail because they lack a product; they fail because they lack customers and a profitable business model.” (Steve Blank - The Four Steps to the Epiphany) 33
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  35. 35. ProductDevelopmentChallenges 35
  36. 36. 36
  37. 37. OptimalProductProcess 37 Conceive Plan Develop Qualify Launch Maximize Retire Discover product opportunities, preliminary strategic documents Create market and product strategy, roadmap Complete business plan Complete market needs documents Solidify Development plans Final feature list Beta testing plan Run Beta program Complete beta report Finish launch plan Test marketing messages Release Product Gather feedback On-going marketing plan Launch review Prod Mgr: continue support sales Marketing: develop marking plan, ongoing marketing activities Measure review to maximize sales Impact analysis: retire the product Primary versions of business plan, market needs and market strategy documents Business Plan Market needs document Product description Market strategy Roadmap Product Manager: beta plan Engineering documents for sell and support after launch Launch Plan Completed beta plan (with customers feedback) Ongoing Marketing plan Launch Review document End of life plan An executed end-of- life plan Agree funding? Agree for beta testing with real customers? Product ready to launch? Ready to maximize phase? Spend additional $ to achieve goals Key Tasks Key Deliverables Decision?
  38. 38. ProductManagementvsProductMarketingRoles Sep-19 38
  39. 39. 9keydocuments Document Purpose Description Business Case Evaluate Opportunity Capture the reasoning for initiating a project and determines whether the effort should proceed based on profitability and strategic fit Market Needs Describe the customer needs and problems Description of the business or consumer challenges to be solved, through and analysis of market needs, user personas and usage scenarios Product Description Describe what to build Description of the whole solution’s feature set, expected usage, and the technology and delivery requirements. Include initial scoping of cost Market Strategy Determine how to take the product to the market Market strategy and long-term objectives, positioning messages to be conveyed to target markets Roadmap Determine long-term goals and strategy Set of releases based on scoping, strategy and objectives Beta Plan Ensure product is ready Plan for real-world use case to ensure it is ready to launch. Gather early customer feedback and testimonials Launch Plan Create initial awareness and leads Plan and tactics for achieving agreed-upon goals of the product Marketing Plan Create demand and meet revenue goals Plan with tactics, budget, timeline and activities that will support creating leads and reach new customers End of Life Plan Minimize customer and profitability Plan covering how best to discontinue a product with a smooth transition, avoiding negative consequences Sep-19 39
  40. 40. Summary • Digital Transformation is not a transformation project • Focus on customer problems, not your solution • Fund teams (products), not projects • #1 - Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves • #2 - Don’t be in a rush to get big. Be in a rush to have a great product • #3 - Startups don’t fail because they lack a product; they fail because they lack customers and a profitable business mode 40
  41. 41. ThankYou 41