taking in-house product to market
TRANSCRIPT
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TAKING IN-HOUSE PRODUCT TO MARKET
A How-To
p r o d u c t m a n a g e m e n t
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INTERNAL V/S EXTERNAL
Internal External
Terminology Project Portfolio Product PortfolioImpact Cost RevenueFocus Efficiency Market
Ref: http://www.proficientz.com/project-portfolio-vs-product-portfolio/
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WHY?
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WHY TAKE TO MARKET
• Revenue Potential
• Employee Morale
• Leadership
• Thought
• Technology
• Product
• Design
• Domain
• Engineering
• Practices
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5 QUESTIONS TO START WITH
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1. Who else will buy this?a. Names of likely buyers and categories of buyers. The reason
'else' is emphasized is highlight that there is already one customer, your own org
2. What all options will they reject to buy this?a. Similar products or option to custom-build
3. For what key benefit, you think, they will pay?a. The USP / Key Value Prop
4. How much and how do you think they will pay for this?a. First take on Pricing and pricing model
5. Why would your org support this effort?a. A powerful reason
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HOW?
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6 STAGES OF BUSINESS ROLLOUT
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BUT FIRST ...
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THE GOLDEN LOGARITHMIC SPIRAL
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COMPLEXITY IN EACH STAGE WILL INCREASE EXPONENTIALLY
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EXTERNAL PRODUCT WILL BE EXPONENTIALLY MORE COMPLEX COMPARED TO IN-HOUSE VERSION
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THE LEFT SIDE OF THIS CUP IMPLIES IS THAT A WE CLIMB DOWN FROM WHAT HAS BEEN BUILT/LEARNT TILL NOW, UNLEARN, THE COMPLEXITY WILL DECREASE. HOWEVER, AS WE REANALYZE AND THEN START THE PROCESS, THE COMPLEXITY WILL GROW EXPONENTIALLY.
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EXTERNAL PRODUCT WILL BE EXPONENTIALLY MORE COMPLEX COMPARED TO IN-HOUSE VERSION
Unlearning is very important. In any future crisis, resorting to what worked earlier can be disastrous. Doing experiments anew is important.
Unlearn
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EXTERNAL PRODUCT WILL BE EXPONENTIALLY MORE COMPLEX COMPARED TO IN-HOUSE VERSION
Starting with 5 Questions mentioned earlier, re-analyze the product, its reason and benefits with whole market in view
Re-Analyze
Unlearn
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EXTERNAL PRODUCT WILL BE EXPONENTIALLY MORE COMPLEX COMPARED TO IN-HOUSE VERSION
The Complexity will obviously decrease as you unlearn and re-analyze
Re-Analyze
Unlearn
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EXTERNAL PRODUCT WILL BE EXPONENTIALLY MORE COMPLEX COMPARED TO IN-HOUSE VERSION
Good time to test many hypotheses
Re-Analyze
Early Access
Unlearn
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EXTERNAL PRODUCT WILL BE EXPONENTIALLY MORE COMPLEX COMPARED TO IN-HOUSE VERSION
Less Complexity compared to to where you are now
Re-Analyze
Early Access
Limited Access
Unlearn
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EXTERNAL PRODUCT WILL BE EXPONENTIALLY MORE COMPLEX COMPARED TO IN-HOUSE VERSION
Unlearn
Much more Complexity than you could ever face in-house. Plan for it, but no point guessing/estimating this and beyond. Thus take lean approach
Re-Analyze
Early Access
Limited Access
Open Access
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EXTERNAL PRODUCT WILL BE EXPONENTIALLY MORE COMPLEX COMPARED TO IN-HOUSE VERSION
Unlearn
Plan for it, but no point guessing/estimating this and beyond. Thus, continue to take lean approach.
Re-Analyze
Early Access
Limited Access
Self Serve
Open Access
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DesignBrandingDesign language
ProductProduct-Market FitProduct VisionIdentify confidential
PartsAnalyze CompetitionDecoupling Policy
SupportExisting channels
Re-Analyze
DesignUser FlowUser ExperienceNew Branding
ProductRedo Product
Management Canvas
Clear Pricing Policy
SupportChannel prioritisation
MarketingEvangelismElevator pitch
CommercialsPricing strategy
OrgRethink Product teamHiring
Early Access
ProductRethink the MVPKey AnalyticsRe-access tech
decisionsFAQsLicensingReport bugs and
feedback via
SupportChannelsTechNotes, Gotchas
MarketingPeriodic updates
CommercialsBuy default config
even if for $0
OrgMarketing team
Limited Access
DesignWhite-labeling
ProductRebuild ecosystemPiracy & SecurityDiscountingE-commerce &
BuyingBasic Role
ManagementCrash Analytics
SupportBuild KB based on
issues / queries
MarketingBrand valueCompetitive
differentiationPower-use updates
CommercialsBuy various configs
even if discounted
OrgSupport team
Open Access
ProductFull Role
ManagementSocial Media SupportIncentivise Usage /
feedbackBundling /
UnbundlingUsage Analytics &
Data
SupportProactive additions
to Knowledgebase
MarketingAdvertisingSocial media
engagementPosition papers
CommercialsVariants & packages
based pricing
OrgSales teamOperations team
SelfServe
ProductRevenue AnalyticsFully enabled self-
discoveryAutomations
SupportSocial connectsDomain related
additions to Knowledgebase
MarketingThought
LeadershipRoI driven
marketing and advertising
CommercialsEasy buy based
access to options
Unlearn
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7 TASKS FOR THE PROMA
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ACTION LIST FOR THE PROMA
1.Get Design team to work on branding and reassess the user flow and experience
2.Get Product team to redo the Product Management Canvas
3.Get Quality team to ensure the product will work well them opened up
4.Get Security team to analyse the risks as product is opened up
5.Get Marketing team to deliver collaterals, articles, blogs, ads, etc
6.Get Support team ready to help users as if their lives depended on it
7.Get Sales team going and bringing on booking / revenues
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25 ACTIONS FOR THE TEAMS
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25 STEPS
Design
1. Design an independent branding and design language
2. Rethink user flows and user experience based on user research as 100% of new users may not be directly accessible
Product
3. Rethink your MVP
4. Redefine product vision
5. Take control of Roadmap and break free from shackles of Product Sponsor and early advocates
6. Remove confidential analysis, techniques and flows
7. Re-assess product-market fit
8. Take competition more seriously and not just source of ideas
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25 STEPS
9. Revisit rejected partners and rebuild an ecosystem
10. Add Role Management to accommodate for Admins and Super-Admins
11. Reaccess tech decisions on tools, stacks and methods
12. Start saying NO to requests from Product Sponsor or early users
13. Consider licensing
14. Consider threat of Piracy and security breaches
Feedback, Support, Marketing & Communication
15. Build searchable and easily navigable Knowledgebase to enable self-discovery
16. Add reporting of bugs, providing feedback, request support from within the product
17. Add reporting of bugs, providing feedback, request support using social media
18. Incentivise / reward communication from users and partners
19. Reach out and market using social media and do not hesitate to advertise
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25 STEPS
Business & Commercial
20. Add ‘buying’ of product, even if it is for $0
21. Establish a pricing/discounting/packaging policy
22. Retrain team to focus on revenues and setup efficient revenue tracking
23. Making ‘buying’ or e-commerce via your product simple
Organisation
24. Get a dedicated team
25. Get branding, support, marketing and sales teams in place
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BEST PRACTICES
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BEST PRACTICES FOR OPEN SOURCING
• Technical Communication
• Version Control, Document Management, and Distribution
• Quality Assurance
• Build and Test Management
• Project Management
• Knowledge Management
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BEST PRACTICES FOR COMMERCIALISING
• Clear pricing policy• Easy to understand licensing policy• Easy to report bugs and provide feedback• Continuous security analysis and piracy protection• Easy to use e-commerce and buy • Ability to define roles and grant permissions• Self-discovery via knowledge management• Support (free and paid variants)• Enables 3rd parties to build products or provide service on
top of your product• Analytics
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