Posted on : 20 Nov 2015 0 CommentsAll News , Event Takeaways , Product Conferences
Parity Consulting were primary sponsors of Australia’s first ever Product Management conference, hosted and held by Brainmates in Melbourne in October 2015.
Victoria Butt and Nicole Kazamias from Parity attended the conference, with speakers from some leading Australian and international businesses including:
- Michael Bromley – IAG
- Andrew Bassat – Seek
- Bo Ren – Instagram
- Barrie Barton – Right Angle Studio
- Lindsay Matthews – Yammer
- Emily Yue – Expert360.com
- Matthew Lipscombe – Cochlear
- Neil Doyle – DeltaMV Knowledge Solutions
- Sue Raisty – The Cranky Product Manager
Some fantastic presentations throughout the conference – here are the key highlights from each of the speakers:
INNOVATE YOUR MARKET NOT THE PRODUCT, MATTHEW LIPSCOMBE, COCHLEAR
- Different people bring different ideas to synthesise the ideas
- A product manager is like Hercules and Cerberus – there is more than one type of person in your organisation and there is more than one type of customer segment
- Product innovation = technical innovation and market innovation
- Steps to innovation:
- Reduce resistance
- Maintain focus of necessary aspects of products
- Expand framework of thinking on how to expand/ understand customers
- ODI – outcome driven innovation (Developed by Anthony Ulwick) – ODI gives you a common language which assists working groups when approaching a problem from different angles
- Empower, align, deliver- The importance understanding the full end to end lifecycle of your market
THE IMPORTANCE OF PRODUCT MANAGEMENT FOR BUSINESS GROWTH, ANDREW BASSAT, CEO SEEK
- Some fundamental cultural attributes at SEEK, which makes them successful and differentiates them from the market:
- Help people lead more fulfilling lives
- Highly motivating purpose
- Opportunity to do more
- Beliefs (principles of what worked in the past)
- Business outcomes rather than short term financials
- Build the marketplace before we can commoditise it
- Get the values first and the results will come
- Screw things up if the focus is solely on the money
- Qualities that will differentiate staff:
- Good judgement
- Know your stuff
- Empathy for the customer
- 6 simple rules to Product Managers:
- Customer centric – put the customer first
- Problem before solution – how does this map out to your corporate objectives?
- Get out and talk to people – the customer, the agent, the intermediary
- Time to delivery
- Do more, less often – little bets more often is a lot better than big bets less often (less damage)
- Full transparency – show people what you’re thinking, ask people who don’t know what you’re doing for their opinion
THE CLOSE TIES BETWEEN ENTREPRENEURSHIP AND PRODUCT MANAGEMENT, BARRIE BARTON, RIGHT ANGLE STUDIO
- Micro ambitious – focus on the next small project rather than the large ultimate vision
- Maslow hierarchy of needs- who are your users? What need-stage are they in? What problems do they have that you can solve?
- There is real merit with being alone with your thoughts and coming back and presenting to the group
- Empathy vs sympathy – different level of emotional intelligence
- Need to leave the building and address your natural audience
- It’s not enough to build hope, you need to build belief!
PRODUCT MANAGEMENT IN START UPS, EMILY YUE, COO/CO-FOUNDER EXPERT360
- Only 1% of companies have access to consulting services
- Making mistakes is good – learn from what you don’t want
- “If your processes aren’t broken, you’re not moving fast enough” – Ben Horowitz
- Consider the entire customer experience online and offline- Build trust and advocacy
- “The secret of my success is that we have gone go exceptional lengths to hire the best people in the world” – Steve Jobs
USING LEAN CUSTOMER DEVELOPMENT TECHNIQUES, LINDSAY MATTEWS, YAMMER
- AB testing – comparing two versions to see which one performs better. You compare two versions by showing the two variants (i.e. A and B)
- Optimise your entire product, not just your feature
- Should have stable and predictive of long term product goals – write your goal ahead of time!
- Short, testable assumptions – minimise costs of mistakes
- What did you learn from an experience/ test?
- Always remember that data can’t replace your product vision
DESIGNING PRODUCTS FOR BEHAVIOURAL CHANGE, BO REN, INSTAGRAM
- Designing products to behavioural change- What are you changing?
- Identify and harness the behavioural change lever in your products. It’s not just rational thinking.
- Don’t be complacent with whatever algorithm you have- “Couple machine learning with local on the ground optimisations”
- Questioning assumptions about existing products
- Friction yields progress
- Know when to kill projects and when to finish them!
- Research myopia in society
- Conscious thinking is in charge – “I think therefore I am”
- It’s all about emotion and context – Understanding the emotional drivers and the context in which that happens
- You feel first before you think
- Daniel Kahneman – Emotional Brain Nobel prize psychologist: System 1 and system 2 thinking
- System 1 – fast thinking (born from animal, instinct, gut thinking- more power)
- System 2 – slower formulating thinking (our ability to reason and control ourselves)
- Think about the proper question to ask and the solution will be much easier
- Think about the value of your decision – If I make this decision good or bad, what’s the dollar impact?
SUE RAISTY, THE CRANKY PRODUCT MANAGER STEPS OUT – THE 5 THINGS I LEARNT THE HARD WAY
- 5 things Sue learned the hard way
- Mistake 1 – fighting fires to the exclusion of the strategic (make sure you carve out time for the strategic)
- Mistake 2 – hearing only what I wanted to hear
- Mistake 3 – gathering market feedback that didn’t help me prioritise
- Mistake 4 – believing that getting customer references wasn’t my job
- Mistake 5 – not focusing on finding “mistakes” early
- Make enthusiastic customer references your goal for new products/ major features
- Get better market feedback illustrating extreme trade-offs
- Be egoless!