This is a great, concise explanation of an important topic to address when introducing Agile and Product Owner roles into an organization. Knowing the difference is key.
Great content, I like the product mindset concept you give. Product mindset is to validate an idea, or assumptions about a market, get feedback from target market and adjust the project scope accordingly. Typically there is a product owner that specifies the features. But I was missing the part of testing the product and get feedback on every sprint.
Nobody likes to hear this, but it's not an either/or. It's a both/and. There are three broad stages that all products move through -- discovery, scale out, and cash-cow. Cash cows *cannot* be managed the same way as new product discovery. When a product reaches cash-cow stage, too much is at risk to constantly be tapping into external market whims and transforming everything. Project management starts to make sense at that point, because you're trying to balance the iron triangle. You're at the "innovator's dilemma" stage. What you *should* do at that point is find a related, but not overlapping product, ideally with different customers, and start the product evolution process again. Then, if you get more than one product to the cash-cow stage, you can do more radical things to the original cash-cow without risking the whole company. At that point you've got an ecosystem of products, which is a great place to be. If you look carefully at companies that everyone thinks are exclusively product companies (Apple for example), you find that they're *NOT* purely product focused. They have execution excellence in BOTH cash-cows and new and scaling products. They *do* have project managers AND product managers.
This is a great, concise explanation of an important topic to address when introducing Agile and Product Owner roles into an organization. Knowing the difference is key.
Thank you! This was well thought out. Thank you for putting the time and graphics into this for us.
Great one ... Thanks 😊
Really well conceived and delivered. Thank you!
Nicely done and presented. Well done!
Great content, I like the product mindset concept you give. Product mindset is to validate an idea, or assumptions about a market, get feedback from target market and adjust the project scope accordingly. Typically there is a product owner that specifies the features. But I was missing the part of testing the product and get feedback on every sprint.
This was a great video. Thanks!
Nokia held soo many strays in this video LOOOOL
Nobody likes to hear this, but it's not an either/or. It's a both/and.
There are three broad stages that all products move through -- discovery, scale out, and cash-cow. Cash cows *cannot* be managed the same way as new product discovery. When a product reaches cash-cow stage, too much is at risk to constantly be tapping into external market whims and transforming everything. Project management starts to make sense at that point, because you're trying to balance the iron triangle. You're at the "innovator's dilemma" stage. What you *should* do at that point is find a related, but not overlapping product, ideally with different customers, and start the product evolution process again. Then, if you get more than one product to the cash-cow stage, you can do more radical things to the original cash-cow without risking the whole company. At that point you've got an ecosystem of products, which is a great place to be.
If you look carefully at companies that everyone thinks are exclusively product companies (Apple for example), you find that they're *NOT* purely product focused. They have execution excellence in BOTH cash-cows and new and scaling products. They *do* have project managers AND product managers.
Well said, never thought of it like this.
Great insights
thank you
Awesome explanation, concise script, excellent.
👍
Excelente la explicación
Somehow this narration is both funny and creepy
Awesome 👏