3 Gems from around the (PM) world - Vol 28
The true MVP, strategic planning, product failures.
Hey PMs
Happy Friday. Here are some things I found of immense value about product management. Hope you find them useful too.
In this post:
Gem #1: An MVP is not a Cheaper Product. It's about Smart Learning by Steve Blank
Gem #2: The big lie of strategic planning by Roger Martin
Gem #3: A museum of failed products by Sean Jacobson
Do you like these gems each week? Please share with just one friend. Thanks.
Gem #1: An MVP is not a Cheaper Product. It's about Smart Learning by Steve Blank
Imagine you are a drone startup and want to build an MVP.
What should the MVP not include ? …… a drone.This was the suggestion by the forever great Steve Blank.
In this article, he clearly lays out the purpose of an MVP. We keep messing the term MVP and forget that it’s true purpose is to validate assumptions and learn so that you can iterate.
Read it. It’s a gem.Gem #2: The big lie of strategic planning by Roger Martin
In this excellent Harvard Business Review article , ROger Martin lays out how strategic planning is done in companies today (wrongly) and what is the right way to do it.
Good lessons for PMs who are also tasked with developing product strategy. Most of us believe product strategy is the just our roadmap or dome attract version of it. But there is a step before that and it starts with which customer segment we are targeting and how we are going to win there.
If you are a PM, this is must read for you.
The big lie of strategic planning.
Gem #3: A museum of failed products by Sean Jacobson
Most products fail. And for a variety of reason. And there is a lot we can learn from these products. We might still fail, but at least we can try to avoid the mistakes of others.
In this wonderful web site, Sean has documented historical products that failed. He neatly categorized them into 6 forces:
Product market fit
Financial
Customer success
Competition
Timing
Team
Here is the link to the site.
Sean Jacobsohn is a partner at Norwest ventures
On a separate note, if you have been reading my 3 GEMS, I would love to get your feedback.
Should I continue?
Do you find it relevant?
I might reduce it 1 GEM simply for lack of time on my part.
If you missed my Tuesday newsletter this week, here is the link.Why Emotional and Social Jobs are the Secret Weapon of Product Success
I am starting a new bootcamp for early stage startups. If you are interested in learning more, visit my site.