One big issue I see hold scaled companies back from doing great #prodmgmt is the lack of team work in middle management and exec layers. /1
We promote “scrum” teams and collaboration in an agile transformation, but we rarely talk about how middle managers and execs need to work too. /3
I worked with one company of 5000 people, about 50ish Director levels, and 10 VPs. It was a massive platform that was highly interconnects.
Every single leader set strategy themselves in a bubble. Then they started duplicating each other. /4
When we surfaced it during a roadmap review everyone started laughing when they saw the same features pop up 10 times across the company. /5
Product strategy needs to not just be deployed down, but up and across. You figure out what you want to do as a team at your level, align it across all your products, capacity plan and adjust, and then deploy to teams and communicate up. /6
To do that well you need to be collaborative with your peer middle managers. That’s your team.
Same with execs. /7
When I come in and teach product strategy to leaders I always hear the same thing “wow, we never did this together before.”
And that’s why it’s not working.
Even just having a conversation that’s intentional about what your trying to do and why can help here. /8
This is why you have too many things going on. This is why you’re peanut buttering you’re people and spreading them thin. You need to brainstorm, communicate, prioritize, align, and then focus at every level. /9
So moral of the story is, you need cross functional teams at every level of your organization. At the middle managers level, those teams need to collaborate with other teams of leaders as well to set strategy. This makes sure your all aligned and focused on the right things. /10
You’re* ugh
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If you’re not rethinking how your business model and company could be disrupted and made better by software products, you’re not truly doing a product “transformation”.
Over the past 7 years I’ve worked with many large enterprises which are what I call “software enabled”. That means they don’t primarily sell software for revenue.
Banks, insurance companies, pharmaceutical companies, manufacturers, etc. /2
These companies typically were run on a traditional IT approach - the business tells tech what tools they need, and tech builds them. Tech is a Dev shop, a services org. Not strategic but reactive. /3
Here’s my current saga with @HomeDepot and a story about their technology that is completely broken.
I returned $1000 worth of brick I bought online to the store. It said I could. The store accepted it but had to call homedepot.com to process the return. /1
This is an issue I run into all the time at @HomeDepot. They can never return the things I bought online without help but they still tell you to return to any store. So they accept the return, I leave. Here’s a pic of it sitting in the store. /2
I call to make sure it got processed when I leave, and they said yeah everything fine.
I get a call a week later from their shipping company trying to schedule to have it picked up. I tell them it’s at the store they can’t. They said they’ll cancel the pickup.
Calling your Product Managers something else may solve some issues in the short term, but it's just going to prevent you from hiring great people in the long term.
Anyone who says titles are not important is either trying to screw over someone or in a very privileged position.
Salary bands are determined by seniority. Salary bands are determined by job titles and positions.
This is from @BuiltInNewYork but I don't necessarily agree with these, just pointing out discrepancies in title.
Director of Product vs VP of Product salaries are HUGE differences.
If you do have a bit of experience in PM or someone to learn from there, I think startups are great. I had an opportunity to be employee 40ish at OpenSky or go to Amazon. I would have made a lot of money if I went to Amazon. My career would have never been the same.
Also I know there’s privilege in these choices, and I’ll say this- if you can negotiate a pay that’s comfortable, I’d recommend a startup. I had to do this to pass on Amazon (OS matched their base). I lost out on stock, but 10 years later my career has more than made up for it.
When things are broken, it gives companies an opportunity to solve the problem and exploit it for value. That's what Robinhood's doing. It's SMART. You find a problem, you solve it. Good business.
But we have to be careful not to exploit our customers as well. /2
When you specifically target unsavvy customers in a complex industry, the burden of education falls on you.
The risk to keep your customers safe falls on you.
I don't know of a single Chief Product Officer who has a PhD. What is this trash advice, Cleverism?
Also, make sure you brush up on those Microsoft PPT skills if you want to be a CPO! You know, because that's SUCH a good investment in your time, and it's not like you could hire someone to help there.
Let's go back to 2005 and break out the Fireworks, shall we? That will REALLY get the board to invest in our roadmap.