How to Build a Product Versus a Platform by LivePerson PM
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From this presentation you will learn how the differences and similarities between driving an end user product versus building a platform
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How to Build a Product Versus a Platform by LivePerson PM
- 1. www.productschool.com How to Build a Product Versus a Platform by LivePerson PM
- 2. FREE INVITE Join 30,000+ Product Managers on
- 3. COURSES Product Management Learn the skills you need to land a product manager job
- 4. COURSES Coding for Managers Build a website and gain the technical knowledge to lead software engineers
- 5. COURSES Data Analytics for Managers Learn the skills to understand web analytics, SQL and machine learning concepts
- 6. COURSES Digital Marketing for Managers Learn how to acquire more users and convert them into clients
- 8. About me
- 9. Today’s talk ▪ The world of platforms and products ▪ The PM perspective ▪ Looking ahead - AI & the 4th industrial revolution ▪ Q&A
- 10. The 4 most valuable companies Product Platform
- 11. Platforms are like lego blocks Products are like the finished car
- 12. Key differences Products Platforms Highly integrated experiences Loosely coupled experiences Unique scenarios / customizations Open & extensible frameworks Simple customer maps Complex ecosystems Value of network are internal Value of network are external
- 13. System Integrators Platform Ecosystem Developers Management Experience 1st Party Products Sales 3rd Party Integrations Suppor t Apps App s App s App s Apps Enterprises Services The economic value of everybody who uses it, exceeds the value of the company that creates it. -Bill Gates Marketplace
- 14. Organizations and Cultures Functional vs divisional Collaborative vs independent Meeting driven vs document driven Agile, scrum, fail fast Lean startup, MVP … And lots of “[5] steps to effective ...”
- 15. PM Perspective
- 16. It always starts with the customer One thing I love about customers is that they are divinely discontent. Their expectations are never static. We didn’t ascend from our hunter-gatherer days by being satisfied. -Jeff Bezos Develop a deep understanding of them customers Understand their needs, their users’ needs Ask, how can you make life a little simpler? Build compelling user stories & work backwards
- 17. Execution Tradeoffs are often about the whole ecosystem Often have to be a lot more flexible Delivery and revision cycles are different Much harder to sunset features once they are out Establishing feedback loops Customer Benefits Business Objectives Technology
- 18. Example: AI Developer Platforms Solutions/Services Tools Infrastructure Frameworks Programming </> Data/ETL BI/Insights Cognitive: Speech, language, vision Predictive: Reasoning, perception, intuition Hardware Storage Network SensorsCompute
- 19. Looking Ahead
- 20. Cyber Physical Systems Fusing physical, digital & biological Massively connected Intelligent & autonomous Natural, ambient, hyper-personalized Improve quality of life vs productivity Experiences vs acquisitions Klaus Schwab
- 21. www.productschool.com Part-time Product Management, Coding, Data and Digital Marketing courses in San Francisco, Silicon Valley, New York, Santa Monica, Los Angeles, Austin, Boston, Boulder, Chicago, Denver, Orange County, Seattle, Bellevue, Toronto, London and Online
Notas del editor
- While each of these companies have a vast portfolio of products, platforms, solutions, and everything in between, they only seem to be successful in one or the other. They also explore in different areas all the time but their successes seem to come from one or the other. Amazon and Microsoft’s failures on the Smartphone, and Google’s inability to make a dent in the cloud are prime examples You may also hear the classic Enterprise v/s Consumer argument in the context of platforms vs products. While that is mostly true, there are lot of consumer platforms, and enterprise SaaS products. Amazon.com (not AWS), is a classic consumer oriented platform.
- Ben Thomson, also talks about a 3rd class called Aggregators (the Ubers, AirBnB’s of the world). The internet for many businesses has removed the middleman to bring customers and suppliers together on a platform. These are aggregators - the Uber and AirBnBs of the world, and I encourage you to read his aggregation theory - blogs and podcasts. The distinction for me is a little too subtle so I will leave it for you to read and decide
- Customers: Those buying the product and benefiting from it Experiences: Its not that platforms can’t or don’t have highly integrated experiences, but it is a tradeoff that is made for some other benefit. Network effects: Both products and platforms benefit from network effects, but the nature is a bit different. It’s about where the value is retained.
- Talking Points: The relationships are much more complex The the big ecosystems like what Azure and AWS caters to, I havent even listed half the participants above Good News: You will be working on one single area, but it is important to think about the rest of the ecosystem as you are prioritizing features
- Talking points: Integrated vs decoupled organizations Meeting and Collaboration v/s Independent micro product teams Let’s take Apple and Amazon, both extremely successful, both supremely customer driven, but that’s where the similarities end. Apple is famously functionally organized and very meeting driven. This is important because they are ultimately a product company. The iPhone needs to be pixel perfect everywhere and therefore every team needs high level of coordination Amazon is a study contrast: Small independent teams. Lots of documents, and frugal about meetings. A platform company is building those lego blocks. The decoupled experience actually helps because that’s exactly how customers may use the platform Move fast and break things may work for Facebook but could be disastrous for AWS or Azure Two important takeaways: As a PM you can shape and influence the team you are leading at the micro level Understand why certain decisions are being made in the team. ReOrgs - what are the execs trying to accomplish?
- Talking points: So how do you make sense of your role in all this complexity? The good news is you will most likely work in one of the areas and the basics remain largely similar, and it’s always about the customer Different companies do this in many different ways - At Microsoft it used to start with framing memo with high level scenarios, then specs. At Amazon its often the PR/FAQ and working backwards doc. At google, they use OKRs.
- Talking points: The basics are the same, but subtle differences in execution For example you have to make a choice between a great user experience, v/s a set of extensibilities that allow a 3rd party product to integrate well. You may choose the latter In the end user product space, feedback loops can often be developed directly with customers, or through data. In the platform space, you may not have direct access. Personal experience in Microsoft TAP program helped me become a better PM So you need to understand and hear from your field, sales, and many others. For example you are the chef in your restaurant. Your servers and waiters are actually the ones working directly with the customers. As chef, you are still driving the vision but it is extremely important to listen to what the waiters and servers are bringing back to the kitchen, what they are saying about what their customers liked or did not like etc.
- Every subsequent revolution changed societies, economies, and even cultures Caused some jobs to decline while new categories have been created I mean who would have thought that Product Management would be something people spend money to learn and aspire to have a career in the field. Created enormous wealth, the middle class, disposable income and even leisure. Think about the 5 day work week, vacation, flexible hours With AI and self learning software, do we really need the whole disciplined approach to product development? If truly the next revolution is about quality of life vs productivity the core concept of occupation and income might change.