Without an effective strategy, it’s hard to achieve product success. But what does strategy entail? And which tools are best suited for making strategic decisions? This article offers my answers and introduces a strategy map–a guide to the strategic decisions required to make and keep products successful.
Similar to a company experiencing financial debt, products can incur “technical debt”: This happens when wrong or suboptimal architecture, technology, and coding decisions are taken. Consequently, the architecture may not be as loosely coupled as it should be, and the code may be messy rather than clean. This article explains why product people should care about technical debt and it offers strategies for addressing it.
Product scorecards are an important product management tool: They help you track the performance of your product. Unfortunately, many scorecards show only financial and customer key performance indicators (KPIs). While these indicators are undoubtedly important, ignoring other KPIs can create distorted view of reality and result in wrong decisions. This articles introduces a balanced product scorecard—a scorecard that provides a complete picture of the product performance thereby helping you to make the right product decisions.
Product key performance indicators (KPIs) are metrics that measure your product’s performance. They help you understand if the product is meetings its business goals and if the product strategy is working. Without KPIs, you end up guessing how your product is performing. But choosing the right indicators is not always straightforward. I have seen many product managers employ the wrong metrics or use so many that evaluating the data is a mammoth task. This post shares my tips on how to select those KPIs that really help you understand how your product is doing.