Going to market is tough. At least, it is for me. See, it all starts around the fact that I’m very detail-oriented — and not only that, I’m *tech* detail-oriented.
In the world of Product Management, you must be able to wear multiple hats throughout the day. This has been ringing true with me a lot lately. This week, I have been working on putting a package together for the first "product" (OK, it’s a module of a product — but a fairly significant one!) to market. For a young, newbie PM, this is a pretty cool experience.
So, first step? Learn the technology backwards and forwards. This may not be the first step for all PM’s, but it’s my true belief that in software, this should be #1. How can you proceed any further if you don’t understand the scope of what the thing you are managing does?
Step 2: Write the user guide. This doesn’t sound hard, but believe me, for a complex piece of tech, it is. You have to constantly think about the audience — "will they understand me if I write about the rules working with a conjunction table in 3rd normal form of the database?" Let me tell you right now — they won’t. So, write the thing in English or your boss and others will look at you like you’re from outer space. The geek stuff is cool, but it is not understood by the masses; that’s why they have user guides.
Step 3: Create a slide deck for Sales. As much as people slog PowerPoint, it is a necessity. You have to be able to create a comprehensive presentation on the product you are bringing to market. Things I’ve been working overtime on:
- Ensuring it matches the "vision" I have for positioning the product in the market
- Ensuring it matches up to industry reports
- Ensuring it matches up to the user guide
See, this is where I’ve gotten stuck in the past. It’s key to remember the Sales doesn’t give a crap about how the thing works, really. They just want to make the sale. You have to communicate why your product kicks ass, what it costs, and why folks want to buy it. This is especially hard if you know your product is behind a little in the market. You need to come up with inventive ways to make it sell. If it’s thin, try as hard as you can to come up with the best set of angles possible.
Remember, leave out the details — keep it high-level, comprehensive, and cohesive.
Step 4: Pricing. Do it effectively, and involve others.
Step 5: Create the positioning statement. This is almost the exact same as step 3. This HAS to be almost even at a higher-level, since it will be used almost exclusively by sales, and you don’t want them to be embarrassed attempting to sell your product. 1 1/2 – 2 pages TOPS.
Step 6: Feature Set. This is key, because otherwise everyone is coming to you during the sales cycle and client training to say, "do you have a feature list / set?" Get it out of the way up front, and you’ll be laughing down the road.
Step 7: Competitive Analysis. Sales really needs to know what else is out there. Again, the whole "embarrassment" thing. You want to make it as easy as possible for them to make commission on your products. Plan and simple. AND, be honest. If an educated buyer is being pitched, you want to ensure the Sales manager knows as much (if not more) than they do, and how your product is better, or at least, compares.
Step 8: Sell it. You need to sell your own product — not just to prospects, but senior management, the company, and everyone. By now you should be extremely excited about what you are doing, and it should exude from you.
I like sending things out an iterating on them. I have some trusted sources in the company that I’ll communicate things with, because I know they care a ton, and they will give me the high-quality feedback that I’m searching for. Try to seek these people out, build the relationship, and use their talent to make the product better. You care, they care, the company wins.
Oh yah — Step 9: Develop the roadmap. Once you are done constructing the package for the version of the product that will go to market, start developing ideas for the future of the product. This will be a post for another day, since I’m still learning the ropes on this one.
Happy Friday!
