Product Vision Flashcards
What is a product vision?
- describes the purpose of a product
- describes the intention with which a product is being created and what it aims to achieve for customers and users.
- describes what problems it tries to resolve or what ambitions it tries to fulfill.
Who is the owner of the product vision?
The product owner.
He must be motivated, and passionate about the product vision in order to be more successful than a product owner who is just executing the product roadmap based on someone else’s vision.
Why is it important to share the product vision often?
- it helps stakeholders understand what would be valuable for the product
- it helps development team in motivation and meeting the right architectural decisions
- it helps users to understand why they should use/buy your product.
- gives room for validating the idea with others: users, stakeholders, dev team, the market.
- gives room for inspection and adaption of your product vision
Where is the focus then defining a product vision?
Focus on value for customers and users, not on technology. It’s about resolving a problem or about achieving a dream. So don’t make your Product vision (too) technical, focus it around the business (value).
How to define the product pitch?
Adapt your vision pitch, based upon your target audience.
you should make a tailor-made pitch for your different stakeholder groups! In your pitch, make sure to address the things that are important for them. For some stakeholders, you mainly need to report about the KPI’s that are relevant to them. For other stakeholders, you need to be the inspiring (Product) leader, who is representing the Product. And for another group, you may need to focus more on the benefits of the Product for them.
How to define a short, clean and inspiring vision?
Target customer group, what is the need or opportunity, product name, product category, key benefit - reason to buy, primary competitive alternative, statement of primary differentiation.
Which must be the communication order when you communicate your vision?
Why > How > What
Why do people buy a product?
Ppl. don’t buy what you do, they buy it why you do it.
With what kind of people do you want to do business with?
with people who believe what you believe
What kind of people should you hire?
people who believe what you believe - If you hire people because they can do the job, they will only do it for the money.
What is the credo of a leader?
I have a dream. and not: I have a plan. Leaders hold a position of power. Those who lead inspire us. We follow them for ourselves.
What is the art of possible?
We do the best we can with what we know and what we have.
What is scrum about?
Scrum is not about delivering more things faster and cheaper.
Scrum is about delivering higher value more frequently.
And by doing this, you reduce risk to the organization and tap into the art of the possible.
Which questions must be in order to get info about project status?
How are we validating assumptions about the user needs/ the market demand?
What are we learning about value? How is this guiding our product decisions?
What has changed with our users/ our competitive environment since we began this initiative?
What does a product vision communicate?
A product vision communicates what you desire this product to be and for whom. It speaks to the target customer and the primary value proposition provided to that customer.
How do you define which features are valuable?
By checking whether it provides one or more of following types of values:
- Business goals (e.g. customer conversion rate)
- Profit/ revenue (e.g. revenue per customer, repeat customers)
- Cost savings (e.g. customer acquisition cost, cost/ customer)
- Customer/ user growth (e.g. new customers, market share, customers using latest release)
- Feature usage (e.g. customers using a feature, time spent using feature)
Is a value static?
No, values change and emerge.
How can value emergence be enabled ?
Via the Product Backlog refinement process:
1. Break things down smaller
2. Understanding of value alignment
3. Zoom out/ zoom in
The smaller you break things down, the more flexibility you have and the faster you can deliver value and validate assumptions. There are many complementary practices and concepts to help you focus on smaller pieces (e.g. Story Mapping, Assumptions Mapping).
Describe assumption mapping
Goal: assess your assumption. How to do it: invite key stakeholders, give them 15 minutes to brainstorm on what assumptions they have (e.g. meditation app). Them let them talk about the sticky notes and then put them on a risk/validation map with the two coordinates: risky and ease of validation. After that create further discussion sessions for all postits in the risky but easy to validate group.
What is empathy driven development and what are the challenges?
Is an approach to developing software that relies on team members making decisions based on empathy towards impacted stakeholders.
Challenges:
- Stakeholders Inaccessible to Development Team
- Un-validated Assumptions about Stakeholder needs
- Layers of Proxies between Stake-holders and Development Team
- Distrust between Stakeholder Proxies and Development Team
- Cynicism / Apathy towards Stakeholders
- No time / money to connect with stakeholders
What is the stakeholder empathy map?
Table wirh columns: sh type, accountability (what is he accountable for), values (he gets from using our solution), painpoints (frustrating missing features in used software)
How can successful large-scale change be achieved?
By engaging not only the heads but also the hearts: bring the customer closer in any way possible to the developers.
