managing products in highly regulated markets

MANAGING PRODUCTS IN A HIGHLY REGULATED MARKETSHerman / Megh / Ruoxing

Xero / Cadreon / Hearsay SocialPM / PM / PM

Agenda - Why are we here today?• A high level overview of product management

• So what’s the big deal with regulated markets

• What are some of the examples on regulated markets

• The different frameworks at various stages of product discovery

• Best practices and war stories

• Q & A

Disclaimer

“This will solve all your problems and answer all your questions”

- Every snake oil scheme ever

So why are we really here

“We have made enough mistakes to help you not make the same ones”

- Herman / Megh / Ruoxing

Product Management: A high level over view

What is product management?

“No for real, I am the CEO of my product”

- No one ever

Product Management: Regulated Market

What is product management?• What do you build for a market?

• What would your users use?

• What would your customers buy?

• How do you help build this?

What is product management in a regulated market?

• What regulations are you abiding by?• What is your legal recourse?• Do you need specific agreements?• What is the case law in this space?

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• What do you build for this market?• What would your users use?• What would your customers buy?• How do you help build this?

What is the big deal?Consumer Regulated markets

The Markets that we will talk about

Financial Services Advertising

This is a reality in these markets

Frameworks

“I love frameworks, they validate my life”

- No one ever

State of the union on frameworks- Business model canvas- AARRR (Pirate metrics)- Value chain analysis- Pricing fundamentals- Enterprise and Consumer product differentiation- Product packaging- Service, support and delivery

Adapted Frameworks

“I care the most about my own problems”

- Everyone ever

Adapted Frameworks for these markets

- Frameworks are usually exhausting and confusing

- We don’t prescribe a silver bullet, we just want to help you do things you want to

- Optimize your key parameter and adapt to your own market needs

- Probe on the relevant Legal frameworks and ask the right questions

- 5 (and more) Whys to get to why something is the way it is

Adapted Frameworks for these markets

- New products in new markets – Build

- New products in highly entrenched markets – Break

- Maintenance frameworks – Boost

Adapted Frameworks - Build

Optimize for speed

What are the regulatory hurdles?

How do you ask the right questions?

How do you answer enough to survive?

Adapted Frameworks - Break

Optimize for a specific workflow

How do you solve a problem better than 10x the existing?

How do you budget for the legal overhead?

What are your internal auditing requirements?

Adapted Frameworks - Boost

Optimize for data

How can you use data as a decision driver?

How much of this can you make it generally available?

Why do your happiest customer groups stay with you?

Build your own framework• Audience workshop

• Which industry are you in?• Who is your key user?• What is the regulatory body that has oversight on your industry?• What stage are you in?• Who are the key players?• What are the metrics for success?• What does the future hold?

The future of operating in these industries

• Consumer trends slide into the enterprise

• Bots will help you operate at scale with compliance

• Storage of large amounts of historical data will help inform product decisions

• Regulators will bank on direction, not conflict

• Algorithms will decide the mundane in minutes

War stories• Payments and Compliance – PCI compliance and a whole

host of other acronyms, what can you do?• A brand new law of fundraising – What are the lessons

from the trench in being too early?

• Ads – Who can you target and who can you not?• Demographics – Compliance, who is that?

• Payroll and accounting – What are some nightmares from the field?

• Doing business across currencies – What can possibly go wrong?

Q & A

“This presentation gave me clarity that is rivaled only by 8 hours of sleep”

- We hope everyone ever after this presentation

Easter Egg

What connects the following?

-Arguably the worlds most famous PM

-An act that was made into a law in 2012

Submit your answers at http://sxsw.talkingshop.me/