Ritesh Prakash

Product management demands honed skills that are cultivated and refined over time. Many believe they can effortlessly navigate the realm of product management, but there's a chasm between mere participation and achieving tangible outcomes. Here are five pivotal skills for product managers who consistently deliver results: 🚀Insightful Data Interpretation: Transforming qualitative and quantitative data into actionable insights necessitates sharp critical thinking. 🚀Product Intuition: This amalgamates cognitive empathy, creativity, and domain proficiency. While nurturing creativity can pose a challenge, it's entirely attainable. 🚀Compelling Data-Driven Narratives: Mastering the art of persuasive storytelling with data, while ensuring factual accuracy, is a skill that can be developed with practice. 🚀Versatile Communication: The ability to communicate effectively across various mediums is crucial for successful product managers. 🚀Decisive Decision-Making: Product managers are constantly required to make informed decisions swiftly, utilizing available information to prevent team stagnation or inertia. What stands as the foremost growth opportunity in product management within your organization? And what about yours? #productmanagement #coachingproductmanagers #productleadership #producttakes ------ 🌍 Shubham Karnwal 🆘 0-1 Product Managers 🔔 Follow me for more content ♻️ Share is care

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A trend I am witnessing lately is adding up delivery responsibilities on a product manager’s hat. This is mixing apples with bananas. Each has own distinct set of responsibilities. The project manager is responsible for the execution making sure that the delivery is on time, scope, and budget. The product manager focuses on vision, strategy, discovery, competition, monetization, and measurement to name a few. Frequent communication between both of them is highly recommended and beneficial. #productmanagement #projectmanagement #roles #responsibilities #job #multiplehats #softwaredelivery #jobresponsibilities #organigram #structure #humanresources #productrole #product

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"Wait… aren’t a Product Owner and a Product Manager basically the same?🤔" Not exactly…. Both roles are critical, but they tackle different aspects of the product journey! 🌟 Product Manager - The Strategist Think of the Product Manager as the visionary, setting the why and where of the product. They’re constantly exploring the market, aligning with business goals, and communicating with stakeholders to drive the product’s long-term strategy. Focus: Customer needs, market trends, and aligning product goals with business outcomes. 🔧 Product Owner - The Executor The Product Owner zooms into the how and what of delivering value. They break down the vision into actionable tasks, prioritize the backlog, and work closely with the dev team to ensure delivery. Focus: Defining user stories, backlog management, and delivering increments that add value. 🛠️ Why Both Matter: Product Managers set the direction, and Product Owners ensure we’re building the right product at the right time, translating strategy into reality. Together, they create a powerful synergy that drives impactful products for customers and the business alike. 🎯 #ProductManagement #ProductOwner #Agile #Tech #Innovation #Development #PMLife #OpenToWork

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🌟 How to Be a Successful Product Manager in 2024 🌟 In the world of product management, the role of a product manager (PM) is crucial for a product's success. Often called the “CEO of a product,” a PM oversees every stage of a product’s journey, from the initial idea to its market launch. Did you know that the success of products like the iPhone or Netflix is largely due to skilled product management? Behind every groundbreaking product is a dedicated PM guiding it from start to finish. And let's face it, if product management were easy, it’d be called 'Product Vacation!' Here are some insights from Arun Singhal, former Director of Product Management at Google, on what it takes to thrive in this role: Arun also emphasizes the importance of metrics and data in product management, strategic thinking, and mastering trade-offs and prioritization. For anyone looking to excel in this field, continuous learning and adaptation are key. Here are a few tips to elevate your effectiveness as a product manager: Engage with Customers: Direct interaction provides invaluable insights. Understand Key Metrics: Keep key metrics at your fingertips. Develop Quick Presentation Skills: Create concise presentations on short notice. Maintain a Sense of Humor: A happy team is a productive team! How do you ensure successful product outcomes in your teams? Share your experiences and tips below! Let's discuss how we can all drive product success together. #ProductManagement #Leadership #Success #CareerGrowth #Teamwork Credits: https://lnkd.in/dyVUzcg7

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***99% of product managers don’t understand the super effective but non obvious levers for growth. *** Growth is not just paid traffic and writing blogs and good landing pages. Some obvious and non obvious levers - 1. The basic maths says ARPU > CAC so obviously the very first lever to get channel economics work is getting your funnel conversion as high as possible to make this maths work. 2. Now let’s talk about some non obvious levers- the first big one is bundling. Build bundled offerings/build products that increase the basket size in the same transaction. What does bundling do is it increases the ARPU for users which means that you have a better chance of winning the ARPU > CAC equation. 3. Next non obvious lever is to Improve organic/direct traffic %age of your overall traffic. What this does mathematically is brings down your blended CAC across organic + paid traffic and helps you win the ARPU > CAC equation or in other words the organic traffic and orders helps you experiment with higher CAC on your paid channels. How to improve organic/direct %, well build solid products to drive repeats, invest in an SEO engine to drive organic and so forth. 4. Next non obvious lever is help your team identify users on marketing channels who tend to engage with your product more. This means defining key milestone events on your funnel - sign ups, user demonstrating intent eg add to cart etc even before the final purchase and help your team build similar audiences to these users. Relying just on the final milestone will leave you with a much smaller sample to work with and super hard to scale. 5. Finally, a key part of making the economics work is specifically working on a product strategy that heroes high ticket size products. Which means working in tandem your growth team to work out product categories where interest in those categories (either shown by search volume/potential impression volume is high) and the ticket sizes are also reasonably high. Think of a 2x2, you want products with high ticket size and reasonable interest volume. What this does is again improves ARPU while lowering CAC helping you win the equation. Follow me for high quality content, not product philosophy but practical insights https://lnkd.in/gHweK_q7 AND also here https://lnkd.in/ggUKftFq My Playbook - https://lnkd.in/gHzyN-Xc My Channel - https://lnkd.in/gs6qnNUJ

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B2C and B2B product management is almost similar! Well, this is not completely true in my opinion. Having worked in both spaces, one of the biggest challenges in B2B product management is balancing the inputs from the sales/supply team with the actual behavior of end users. Often, the product roadmap is heavily influenced by the sales/supply team’s requests, which may not always align with what end users want or need. This can lead to a common scenario: • Features are built based on assumptions, but they don’t get used by the end users. • This creates a dependency on the sales/supply team to push the feature, adding unnecessary effort. Key Learnings: 1. Validate First: Always start with a Proof of Concept (POC) for any new requirement. It helps assess the actual demand and interest before investing time and resources. 2. Build for Simplicity: Design products that are self-explanatory and can be used with minimal assistance. This reduces dependency on the sales/supply team and ensures better adoption. 3. Involve End Users Early: Before finalizing any feature, gather feedback from the actual users. This ensures the solution aligns with their needs and increases its chances of success. 4. Focus on Scalability: Build features that not only solve immediate needs but also scale with future use cases. Avoid one-off features that cater to a single client or situation. 5. Balance Customization and Standardization: While B2B clients may demand specific customizations, ensure that the product remains standard enough to serve multiple customers without turning into a patchwork. In B2B product management, the key is to maintain a fine balance between meeting stakeholder expectations and staying true to the end-user experience. Thoughts? #B2B #ProductManagement

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***How to actually be a data driven product manager? Well if you are are the kind of PM who only looks at data supplied by your analyst in excel and has never documented a deliberate instrumentation section in your PRDs and has never logged in into your web analytics tool but love to proclaim yourself as a data driven PM, well let me peel the layers a bit*** 1. Let's start simple - first step is understand some basic nuances of data that you are seeing - let's say you are looking at conversion data - some simple questions you could ask yourself - Is it visit level or visitor level data, does it make sense to look at this data at this level, what do the attribution windows look like? Default attribution is ok or should you look at longer term attribution. 2. If the data feels off, do you have the ability to look under the hood and know whether it is due to an incorrect instrumentation problem or due to incorrect segmentation strategy - eg some segments applied at visits level, some at page views level. Hint - segmentation should generally be applied at same granularity. 3. When you are asking for more granular data - know what is feasible and what is not. Eg. if as a PM while launching the product you never bothered to instrument price buckets for devices on key events - then expecting your analyst to supply you conversion data for high end vs low end devices is foolhardy. Sure, he could first pull out the data by different device models and then manually bucket them but he is just paying extra tax for your own sloppy work. If you were planning to do this analysis from get go you should have built it into your instrumentation strategy. 4. Which brings me to a very important point always be very very deliberate and clear about your instrumentation plan- events and dimensions and make it part of your PRD. 5. Finally, you need to know the right tracking strategy for the problem at hand. Eg. if you want to know conversion of users who click on filters in the funnel, what should your tracking implementation be? Do you think if you track the click info in a page level variable as normally click data is tracked, you will be able to find the conversion? I hope you will do this in the future before loudly and proudly proclaiming yourself as a world class data driven PM. Let’s stop BS-ing shall we? Follow me for high quality content, not product philosophy but practical insights - https://lnkd.in/gHweK_q7 AND also here https://lnkd.in/ggUKftFq While you are at it you can also grab my product assignments playbook, 19 real product cases, all successful submissions, real job offers, ~258 pages of content. ***Grab it now**** - https://lnkd.in/gHzyN-Xc #product #datadriven #analytics

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🚀 Unlocking Product Success: Essential Prioritization Frameworks for Product Management 📊 In the dynamic landscape of product development, differentiating between ideas that shine and those that clutter the roadmap is crucial. This is where prioritization frameworks come to the rescue! 🌟 These powerful tools empower product teams to navigate through countless ideas, ensuring that the most impactful features take center stage. By focusing on what truly matters, teams can deliver maximum value for both the business and their customers. 💡✨ Explore frameworks like the Eisenhower Matrix, Opportunity Scoring, Impact vs. Effort (2x2 Matrix), Risk vs. Reward, Kano Model, RICE Framework, and the MoSCoW Framework to enhance your product management strategy. Each framework provides unique insights that can transform decision-making and drive product success. Dive deeper into these frameworks and their applications by checking out the attached presentation!! 🔍📈 #EisenhowerMatrix #OpportunityScoring #ImpactEffort #RiskVsReward #KanoModel #RICEFramework #MoSCoWFramework #ProductManagement #Prioritization #Frameworks

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Many times in my PM career, my teams were executing at full capacity, as per the aligned product startegy and also building backwards from customer needs found during user research convos. But the products failed to deliver the impact in first go and required few iterations to hit expected success metrics. Reflecting back, the success was not denied due to execution, but due to lack of understanding of all parameters which lead to success in any complex initiative. Navigating such complex situations requires understanding the issue and then communicating the same with others in team to create a shared understanding of what's wrong. In such cases Dr. Mary Lippitt's Model helps understand what's really happening in an initiative. The model essentially says, there are 5 inputs to manage any complex change and if any of the 5 inputs is missing the team will struggle. Go through the screenshot to identify individual scenarios and the corresponding team reality. Once you understand the parameter absent in your relevant context, fix it proactively to increase your odds of success. From experience, defining right “ Incentives” for teams with conflicting priorities is the toughest and "Vision" and "Skills" are most difficult to change in short term and hence Product Managers typically tweak the other 3 parameters to achieve success. #productmanagement

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What makes great products great is balance Balance between depth of features and breadth of features Balance between how often their PMs say yes and say no to stakeholders Balance between speed of increments and quality of increments Balance between number of problems they solve and the importance of problems they solve Balance between business needs and user needs Balance between successful and failed feature launches Balance between agility and stubborness Great products are like those Grand Slam winners in tennis who know how to win games by understanding the conditions and balancing their games according to what is required Their greatness is inherent in their ability to balance! #ProductManagement #Balance #Products

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discover new to gain #customer need. it's a continuous process which need to #conduct periodically, here I shared a step-by-step #guide_lines created by #productboard let's Check it out. thanks to Lokesh Gupta for sharing the content.. #pm #customerneed #learn #productManagement #productDevelopment #success #hcd

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Storytelling is a powerful tool in product management that helps communicate the vision, value, and purpose of a product to various stakeholders—whether they are users, team members, or executives. Here’s how storytelling fits into different stages of product management: 1. Vision and Strategy • Crafting the Narrative: The product manager needs to define the “why” behind the product. A compelling story about the problem being solved, the users affected, and the positive impact it will bring helps align the team and stakeholders with the product’s vision. • Engagement: A well-told story evokes emotion and creates buy-in from stakeholders, helping them see the bigger picture and future potential. This helps drive strategic decisions and ensures long-term focus. 2. User-Centric Design • Empathy through Personas: Stories about users, their pain points, and their journeys are central to building empathy. Instead of just presenting user data, telling stories about specific users makes it easier for the team to relate to them, keeping the product grounded in real-world needs. • Customer Journey Mapping: Storytelling helps illustrate the journey a user goes through, from discovering the product to becoming a loyal customer. By framing product features as solutions in the user’s story, teams can prioritize and build features that deliver meaningful outcomes. 3. Communication and Collaboration • Building Alignment: Storytelling is effective when working with cross-functional teams like design, engineering, and marketing. A shared product story can ensure that everyone is working toward the same goal and understands the “why” behind each feature or change. • Pitching and Presenting: Whether presenting to investors, stakeholders, or executives, storytelling transforms a standard product pitch into a compelling narrative that highlights user value, market opportunity, and business impact. 4. Feature Prioritization • Contextualizing Features: By framing feature development in the context of a user’s journey or pain point, product managers can more effectively justify why certain features matter and how they contribute to the overall product vision. 5. Launch and Marketing • Storytelling for Go-to-Market Strategy: Product managers work with marketing to develop the narrative that will resonate with potential customers. Crafting a story about how the product fits into the customer’s life is key for a successful launch. • Positioning the Product: A strong narrative can differentiate a product from competitors, emphasizing the unique value proposition through relatable user stories or by painting a picture of what success looks like for the customer. 6. User Feedback and Iteration • Gathering Insights: When conducting user interviews or collecting feedback, asking users to tell stories about their experience with the product provides deeper insights than simple survey answers. Growjunction Kunal Parekh Jahangeer Asif

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Product Management Rule #9 ———————————————- There is no finish line in product management. You are the artist, judge, client and coach of whichever products you choose to manage, for as long as you wish to manage. ———————————————— And with this, ends our series on #productmanagement 👋

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It is 2024 and I am yet to find any Product Management Certification in Indian landscape which gives good ROI. For instance spending 50k- 2 Lakh just for the Product managemt basics, case studies and "exposure" still does not make sense to me. It is all available Free today. I am looking for inputs or suggestions from people who have participated in such certifications who have gained value, feel free to comment and let me know your experience. DMs are also fine if you think you do not want to comment publicly. P.S: I am okay with the hate I get for writing this, I am a PM have too thick skin for all this. Sankalpa Sarkar (PSPO) Tannishk Sharma #productmanagement #aspiringpms #productmanagers

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Data is the ‘Brahmastra’ of Product Managers and the most effective way to drive Product Development. One of the main task of a Product Managers is Stakeholder Management. Each Stakeholder has an opinion. The superpower PMs can use to get their idea accepted in conflicting situation, is by using relevant data. PMs use data to align stakeholders with roadmaps, explain the benefits of what's been built, and prioritise what to build next. With constant pressure to learn faster and do more with data, PMs need to remain focused and efficient in this arena, with these simple rules: 1. Gather implicit data - There can’t be any excuses to it. There will be other priorities, but PM must find small ways to quantitatively measure user behaviour patterns across the product. Real visibility into how users will react to new features will come with this. Recognising features which hits the bulls eye, one with incremental benefit or a feature which is a backlash feature. Or even results of A/B testing. Look at transactional data, events, heat maps, logs, performance or error rates.  2. Qualitative Data is explicit data which needs to be given highest priority - In order to tell a story, PMs generally lean on implicit data to validate their hypotheses. But the devil is in the details. Whenever a particular data is to be analysed, qualitative feedback shared directly by users needs to be taken. E.g - after the release of a particular feature, the TAT has reduced, but qualitative analysis shows that users have moved to work arounds rather than the intended usage. This sort of analysis leads to protecting the bigger picture. 3. Reiterating:Always go to your customers when a qualitative or quantitaive difference is observed -  If we want to see how people are using your product naturally, questions based on their unique context about using the product in specific situations needs to be asked . For workarounds, special note to be taken. 4. Right users for the questions - While validating a data story, At B2B setup (both internal and external customers), product managers often engage with the C-suite as their customers. Their feedback might be different than the primary users of your product. Getting to the right users and posing the direct questions to them is very important 5. Track the right metrics -.As discussed above, measuring the right things needs to be ensured. Out of the many metrics that we may come across, we need to understand what metric will indicate that the product is succeeding in solving the customer problem in the way that we want.This is what we call as the outcome metrics.Eg-Revenue,NPS,Gross margin,Active users and so on. However when looking at the Outcome metrics we drill down to other metrics [More on this later] Caution : Staying clear of Goodhart's Law. - For example, if a call center employee is compensated for the number of calls made, those call numbers will go up but have potential adverse consequences (lower quality conversations)

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This is your last chance to register for the webinar schedule tomorrow. Pls refer to the details as below.

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A meaningful part of good product management is good common sense, and while common sense is famously not all that common, it is also not the exclusive domain of product managers, which is precisely why it is silly when large orgs implicitly assume that only someone with the Product Manager title should do product work and a project cannot start unless there is a Product Manager allocated to it.

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