1

The Product Mindset

2

Predicting the future

is hard.

http://upload.wikimedia.org/wikipedia/commons/0/03/Edison_and_phonograph_edit1.jpg

3

…many plans are built on projections of future prices and costs that are almost invariably wrong

—Michael E. Porter

https://www.flickr.com/photos/worldeconomicforum/5397052359

PROJECToutputs

scope, time, budget

abstract (work management)

predictive

has a finish

investments promise ROI

PRODUCToutcomes

continuous value

concrete (an actual thing)

adaptive

ongoing

value drives investment

vs.

NOT THIS KIND OF PRODUCT

PRODUCT

solves a problem

delivers a benefit

helps sell something

else

generates revenue

features

THE EXPERIENCE

monetisation

components

architecture

THE EXPERIENCE IS

THE PRODUCT

just a phone

better experience

more features

>130 M Guests Annually30%

Disney’s Total Annual Revenue

$15 B in Revenue

per Year

It’s a ticket. It’s a payment mechanism.

It’s an ID. It’s a FastPass.

3000 Extra daily visitors

(due to advanced reservations)

$300,000 Extra sales per day

Amazing technology and a world-class

experience.

Failed as a commercial model.

EVERYTHING IS A HUNCH

MEASURE THE RIGHT THINGS

If a measurement matters at all, it is because it must have some conceivable effect on decisions and behavior.

—Douglas W. Hubbard

When we measure the wrong things…

@davidjbland Inspired by Ash Maurya, Dave McClure and Brant Cooper

15

evolved version of hypothesis template

30

AWARE, INFORMED AND ON-BOARDED

We believe that

Better informing travellers about Tax Free Refund steps and process !

Will result in

an increase in repeated usage of the Global Blue app

We will know we’ve succeed whenIN PROTOTYPE REAL

Number of ‘active/engaged’ users increases by

Accuracy of submitted forms increases by

PLANAcquisition

6% 30%

@davidjbland Inspired by Ash Maurya, Dave McClure and Brant Cooper

MAKE DECISIONS BASED ON LEARNING

Don't look for facts or answers — look for better questions. It's the questions we ask, and the meaning we explore, that will generate the insights most useful to strategy.

—Dr. Jason Fox

bit.ly/cog-bias-sheet

Define your beliefs and assumptions

Decide the most important thing to learn

Design experiments that can deliver learning

LEARN HOW TO LEARN

THE PROBLEM ASSUMPTION MODEL

Created by Jonny Schneiderand Barry O’Reilly

MONDAY Frame the challenge and explore some options

TUESDAY Decide what to learn

WEDNESDAY Design the experiments

THURSDAY Conduct the research

FRIDAY Analyse the results and decide what next

WEEK 1 WEEK 2 WEEK 3 WEEK 4 WEEK 5 WEEK 6

orientation 39 intercepts 65 survey responses

campaign design

campaign launch

pilot plan

20 customer intercepts

5 student surveys

4 gym interviews

11 intercepts

10 intercepts

Scaling too early.

http://bit.ly/snapchat-fail

THE RESPONSIVE ORGANISATION

Increasing business agility and customer value through lean transformation

Fiona Phillips at ThoughtWorks Live, September 2017

FIRST EXPRESSION OF A STRATEGY

DESIRED OUTCOMES

FIRST STRATEGY

REFINE AND ADAPT

new discoveries

WORKING SOLUTIONS

do

DELIVERY

check

EXPERIMENTS

AGILE

Build the thing right

+DESIGN THINKING

Explore the problem

LEAN

Build the right things

+

THREE MINDSETS FOR PRODUCT

Get the ebook for free! https://thght.works/2z30TAU