Breaking Free: Essential Product Management Insights

Product management is a pivotal field that intersects business and customer needs, harmonizing them with the technical prowess of a development team. However, it’s an area that’s not without its pitfalls—one in particular being the build trap, a state where the act of production overshadows the purpose and value behind it. Below, we delve into this common quagmire and discuss strategies for escaping it, drawing insights from a seasoned Vice President of Product at HighRadius.

The Pitfall of the Build Trap

At its core, product management focuses on continuously delivering value to the business and its customers. Yet, many teams fall into the build trap, where the outputs—features and updates—take precedence over the outcomes, such as user engagement and satisfaction, ROI, and solving customer pain points. This misalignment can lead to a feature-laden product that fails to resonate with its intended audience.

Recognizing the Signs

Being aware of the build trap is crucial for avoiding it. Product managers risk neglecting user needs by prioritizing stakeholder requests over impact assessment, clear metrics, and end-user engagement.

Framework for Escaping the Trap

Escape the build trap strategically with effective frameworks and a value-focused mindset. Aligning with insights from HighRadius’s VP, prioritize ongoing value for business and customers through strategic product evolution.

Devil in the Details

Understanding the fine-grain details is paramount. Asking “why” five times about each feature and demand can unravel the root cause and necessary outcomes. It’s essential not just to execute orders but to understand their impact thoroughly.

Eye for Detail

A meticulous attention to detail can elevate a product’s potential by ensuring that every aspect is tuned to serve the user’s needs and the company’s goals. Detail-oriented PMs perceive how each element contributes to the broader product vision.

Data-Driven Decisions

Decisions grounded in hard data are more likely to avoid the pitfalls of subjective bias and conjecture. Data provides a common language to unify stakeholders behind a shared goal: creating a product that truly meets the market’s needs.

Emotional Connection

Finally, beyond functionality and data, the emotional resonance of a product with its users cannot be undervalued. Products that evoke a positive emotional response are more likely to gain loyal users and brand advocates.

Conclusion

Escaping the build trap in product management is less about avoiding feature development and more about realigning it with the twin north stars of delivering continuous value and satisfying user needs. Balancing stakeholder requests, curiosity about customer pain points, rigorous questioning, and data-driven innovation is essential. Product management isn’t about releasing many features but strategically aligning business, technology, and people to create exceptional experiences.

Leave a Comment

Your email address will not be published. Required fields are marked *

SELECT YOUR BATCH


Upcoming Cohorts of PG Diploma Program

Cohort 17

Starts: 3 Apr’21

Registrations close on 27 Mar’21
Seats Left: 3

Cohort 18

Starts: 20 Apr’21

Registrations close on 16 Apr’21
Seats Lefts: 14

Cohort 19

Starts: 18 May’21

Registrations close on 14 May’21
Seats Lefts: 15

Artificial Intelligence Program

 

Program Features

  • Learn advanced skills and gain a thorough understanding of modern AI
  • Solve Real world projects in AI
  • Learn to build AI models from the scratch
  • Not a Job Guarantee Program

Great For

  • Working professional in managerial role who want to develop core AI skills to build their career in machine learning and AI
  • Founders & Entrepreneurs who want to learn and apply AI in their own businesses
  • Management Consultants looking to understand the applications of AI across Industries
  • Senior Managers & executives wanting to develop a strategic understanding of applied AI

SELECT YOUR BATCH


Upcoming Cohorts of PG Certificate Program

Cohort 17

Starts: 22 Mar’21

Registrations close on 18 Mar’21
Seats Available: 12

Fees: $2499 $1899

 

Cohort 18

Starts: 20 Apr’21

Registrations close on 16 Apr’21
Seats Left: 14

Fees: $2499 $1899

 

Cohort 19

Starts: 18 May’21

Registrations close on 14 May’21
Seats Left: 15

Fees: $2499 $1899

 

Flipped Classroom

 

Our learners learn by discussing and debating on real-world problems and are actively involved in the solution design process.

Conventional classroom

Sage on Stage

  • A teacher shares the knowledge via live presentations
  • Teachers are at the center of the learning and considered sage on stage
  • Knowledge transfer is one-way and the focus is on knowledge retention
  • Learners don’t get to discuss their ideas or opinions in the class
  • Hence, most learners are unable to apply these concepts in their everyday work life
  • Great for scenarios, where knowledge acquisition and retention is the only focus

Flipped classroom

Guide on side

  • Learners are the center of the universe
  • Classes are meant for healthy discussions and debates on topics
  • Learners go through the material on their own provided by the mentors
  • Mentors work as guide on the side, with the learners
  • Learners develop skills on problem solving, critical thinking and self-learning – the 21st century skills that employers look for
  • Great for scenarios where application skills matter
  • 21st century skills require guide on the side. Simply acquiring knowledge is worthless now.

Request Callback

 

Let us help you guide towards your career path

  • Non-biased career guidance
  • Counseling based on your skills and preference
  • No repetitive calls, only as per convenience

If the calendar is taking time to load you can click on the link below to schedule a call:

Click here to schedule a call