New Solution Designing

New solution designing has always been challenging and when the goal is to replace a successful existing solution then the challenge doubles up. It is an opportunity worth million dollar that only few get to experience. Such initiatives  are mostly taken up by the organizations to replace legacy solutions or when they plan to capture new markets /customers.

I was lucky to get one such million dollar opportunity sometime back, learning from which is what I am sharing in this blog post.

Steps for designing new solutions

1. Study existing solutions: Know what is there already in the market. Study existing products that are being used to provide solutions and have detailed understanding of them before you even think of doing anything else. It is a very important step for the simple reason that you should not end-up designing something that is similar to what is already available to customers. The goal while designing a new solution is to provide something better than what is available. The good and bad of existing solution also helps you in avoiding situations wherein you spend significant part of your time in reinventing the wheel.
   
   
2. Understand pain points: Talk to people who are involved in delivery services using existing product, they could be from operations, sales / pre-sales, customer support or from any other functional arm. Map all process flows in flow charts, identify time consuming process that are large and also under why are they so. Consolidate all pain points and ensure that these pain points are addressed in your new solution design. Understand that the one of the most pressing need of new solution is pain points of existing solution.
   
   
3. Explore limitations: While pain points are to do with core-functions (purpose) of the product, limitations are to do with technology and/ or integration  What extra you could have done if the system supported certain additional features (functional or non-functional). They limit product expansion or they hold solving problems beyond the core functionality of the product, something which might have otherwise given your competitive advantage. This could be some integration or some new emerging trends in existing market. Limitations can also be futuristic, something like, "if this happens then my existing system may not supported the situation". Identify all such limitations (present and futuristic) and ensure that you do not carry them in your new solution design.
   
   
4. Assess Market Maturity Levels: This refers to maturity levels of target market, user community in target market, competition, legal and compliance, adoption and ecosystem. This is very important aspect of new solution design since it decides what is new, what is out-date and what is too early in the solution design. Imagine you are trying to sell a car even before no fuel was invented. In this case though car is a very useful but pulling car with horses or buffalo would not make sense. So do not invent something that cannot be sold or something that is too early in the market. At the same time do not launch an out-dated or out of compliance solutions in existing market.
   
   
5. Competing and Complimenting products: Know your competing and complimenting products. Do not design anything that may harm products that compliment your solution and Do not design anything that gives advantage to your competing products. If these aspects are NOT taken care of, then you are most likely to add more competing products and will have fewer complimenting products. Needless to say that such a situation will adversely effect your market position.

Precautions taken care in conceptualization stage helps in designing a effective solution that in turn enables you to be a market leader in your space. A minor error in doing homework will take your years back, loss of investment and market reputation. A product manager, a product owner must ensure that mentions areas are studied, understood and analyzed to perfection before he/ she takes the brush to design the new solution.

@mathurabhay

Traits that Creates a Success Manager - V

Trait V - Be up-to-date, the control system


How often do you re-visit the product plan? What's your control system that helps you correct the course that you have decided to take your product on.


As a product champion you are responsible for the result, responsible for effectiveness of the team that works on your course and responsible for ROI that investors expect from you. Being a Product Champion is a tough responsibility and how you manage it demonstrate your maturity. While there is no escape to being up-to-date with customers and partners on requirements, there are four critical areas that a success manager is always up-to-date with. 


I suggest you monitor these four corners on continuously to ensure that your control system has right set of inputs required to take a bold decision;


Regulations: keep track of regulatory compliance that governs key design and feature implementation of your product or service.


Technology trends: Keep an eye on emerging trends in technology that my impact (adversely or positively) need of your product / service.


Competition announcements: Your competition is the greatest reason why your company needs you - to stay ahead of competition, that right. Always remember your competition is your bread and butter - focus, focus and focus on your competitors.


Executive vision: Most CEO are entrepreneurs, they have more pair of arms than octopus - more eyes than Ravana and a brain that's larger than that of a white whale. Be up-to-date with their ever evolving thought process.

Identity of a Product Manager

What's in the title? - yeah, that's not that easy to let go.

My title is my identity in my organization - well said by someone whom I meet 4 years back in mirror, while combing my hair. I was curious to know if my title truly justified that I do, and equally curious was the guy in mirror to answer me, hmm but then what does Product Manager mean, and is this the title that truly justifies my duties?

May be yes, if just look inward and focus on my product as my core karm-bhumi (area of duty) and consider sales, technology, engineering, customers, market, competition & policies as input points to manage my product. But is this what I and many other product managers do worldwide? Hmmm not sure if that’s the right way to go ahead.

The other approach that I could think at that time was something like this. Any product (let’s limit to commercial products for now) that gets developed is aimed to either address a need or create a habit, and the sole role of that product then is to remain focused towards fulfillment of the reason of its existence – and that is to address the need or create a habit. Wow, that sounds interesting. So now, what should be of paramount importance for a product manager? I guess the very reason that cause the birth of the his product (or solution in some cases), a product manager then in true sense is suppose to manage this reason or opportunity (I learned it long way) using product as tool. Product Manager must be faithful to this opportunity and not just to product that helps tackle him the opportunity.

So what’s the call? – as far as title is concern, I give a damnn, but identity!! You can’t ignore it - think over it and maybe you may like to comeback and read this blog once again.

Traits that Creates a Success Manager - II

Winners make it happen and Losers let it happen

The trait of making things happen is tightly coupled with being proactive, and taking initiatives at right time. A success manager drives product, people and organization. His job is to take initiative, build conviction and then drive the initiative to a logical closure. Waiting for things to happen will only allow others to make it happen, it's like the teacher letting a student have his stick.

If you ever happen to read the article, "who drives your organization" you will better understand what I am saying here. Success manager must earn the stick to drive, and the only way to earn this stick is to instigate the habit of making things happen in his nature. It is this habit which will help him in driving the organization and makes him best fit to take on the competition in the market place. The trait of making things happen is a trait of success.

Remember, for Success Manager, losing is no option.