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Manager
Technology Product Management
Session 1
Advisor for VCs/startups as well as large orgs on innovation & product development
2
Your TA
Emily Greenwald
emily.greenwald@stern.nyu.edu
3
Class plan
6
About Talking to Humans and the readings
7
Challenges
Product management is a rapidly evolving
discipline
8
Companies are moving toward a
hypothesis driven product+user
centric model
vs. design, marketing or
sales-centric
“...innovation transforms an
existing market or sector
introducing simplicity,
convenience, accessibility, and
affordability where complication
and high cost have become the
status quo.”
11
The innovation cycle
Prior to the Middle Ages,
the innovation cycle (the By the middle ages mostly
cycle where new tech due to militarism, it had
displaces an existing shortened to a lifetime
tech) was generations to
1000s of years
12
The industrial revolution set in
motion the modern innovation era
NYT: “During the period
between 1870 and 1920,
cars, planes, electricity,
telephones and radios were
introduced. But over the next
50 years, as cars and planes
got bigger and electricity
and phones became more
ubiquitous, the core
technologies stayed But why did innovation
fundamentally the same.” slow post-WWII?
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Creating the first modern
corporation: General Motors
For the first time, innovation risk was
not borne by those with the most to
lose
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"Modern", 20th century
style corporations and
their risk mitigation
heavily influenced
innovation
15
NYT: “Celebrated corporate-research departments at
Bell Labs, DuPont and Xerox may have employed scores
of white-coated scientists, but their impact was blunted
by the thick shell of bureaucracy around them. Bell Labs
conceived some radical inventions, like the transistor, the
laser and many of the programming languages in use
today, but its parent company, AT&T, ignored many of
them to focus on its basic telephone monopoly. Xerox
scientists came up with the mouse, the visual operating
system, laser printers and Ethernet, but they couldn’t
interest their bosses back East, who were focused on
protecting the copier business. Corporate leaders
weren’t stupid. They were simply making so much
money that they didn’t see any reason to risk it all on lots
of new ideas.”
16
1950s
Risk aversion becomes institutionalized
● Identify an incremental market need, do
some R&D, test and release...and market
the hell out of it
● Policies and procedures over index on risk
deferment
● Information, process and decision making
is controlled by a few at the top
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1960s
Risk avoidance business strategies begin to
unwind
● The innovation cycle had closed meaning
long form, expensive R&D could not easily
be justified
● Low cost foreign products challenged
western corporations
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1970s
Technology starts displacing workers and
disrupting companies (mostly industrial)
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Today
The age of "fail fast"
● Institutionalized "maker" culture of disruption and
innovation (mostly in new ventures)
● Those implementing tech have control and power to
change industries in short order with a group of
loosely affiliated people (see Uber, Airbnb,
Kickstarter)
● Power has shifted to consumers meaning marketing
alone no longer wins (see Amazon & Yelp
reviews)...great products now win
● Sophisticated workers in finance, legal, education and
healthcare are being disrupted now
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21
What does this have to do with
modern tech product management?
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“Organic” product approach
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Jeff Bezos: “I very frequently get the question: ‘What’s
going to change in the next 10 years?’ ...I almost never
get the question: ‘What’s not going to change in the
next 10 years?’ And I submit to you that that second
question is actually the more important of the
two — because you can build a business strategy
around the things that are stable in time. …It’s
impossible to imagine a future 10 years from now
where a customer comes up and says, ‘Jeff I love
Amazon; I just wish the prices were a little higher,’ or ‘I
love Amazon; I just wish you’d deliver a little more
slowly.’ ...When you have something that you know is
true, even over the long term, you can afford to put a
lot of energy into it.”
24
What is a product?
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What is a product?
Google
“an article or substance that is manufactured or refined
for sale”
Business Dictionary
“A good, idea, method, information, object or service
created as a result of a process and serves a need or
satisfies a want. It has a combination of tangible and
intangible attributes (benefits, features, functions, uses)
that a seller offers a buyer for purchase. For example a
seller of a toothbrush not only offers the physical
product but also the idea that the consumer will be
improving the health of their teeth.”
26
What is a product?
i ng
U s
e r .
a tt .
’ t m e s
e s n d o
d o a c h
u c t pro
r o d a p Packaged Goods?
Commodities?
a p a n d
s n ’t e t
/ i n d s
t i s m i
h a t
W oduc
p r
a
28
What is a tech product?
Enabler
Core
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"...one of the things I've always found is that you've got to start with
the customer experience and work backwards to the technology.
You can't start with the technology and try to figure out where you're
going to try to sell it." -Steve Jobs
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Facebook phone
Why were these players successful?
They won’t win awards for their UI
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If there are 3 takeaways from this class...
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Not (necessarily) the idea people
(nor do you want to be)
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Efficiency (10%) vs. leverage (10x)
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Courtesy: eShares 101 by Henry Ward
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De-risk the problem
Use a process of short iterations gaining
knowledge through experimentation so
decisions are a series of small ones
From
To
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PMs plan and execute an idea
Ideas are cheap, execution is difficult
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How does a product manager operate?
Strategically
setting the
vision for your
product
Creatively
laying out the
experience
Tactically
driving the
execution of
The product manager is the product
uniquely positioned to
systematize innovation
43
Finding the ...
Problem Solution
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