Transforming Product Organizations Beyond the Buzzwords ... Now Including AI
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Presentation by Mirela Mus, Founder & CPO at Product People, made at CPMN on 20 March 2024
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Transforming Product Organizations Beyond the Buzzwords ... Now Including AI
- 1. Product Management Consultancy Mirela Mus, Founder & CPO at Product People Transforming Product Organizations Beyond the Buzzwords .. Now Including AI 🤖 2024
- 2. Product Management Consultancy 1. How we Got to Now 2. Transformation 3. Case Studies 4. Summary 5. Q&A Outline
- 3. Product Management Consultancy Founder & CPO Product People GmbH Mirela Mus Experience ● 12+ years Product Management & Growth ● 7+ years Product Leadership, 50 people headcount Education ● MSE (Master Science Engineering), Computer Science ● MBA (Master Business Administration) Current Focus ● Advising CPOs & VPs/Directors of Product ● Helping our Interim PMs
- 4. Product Management Consultancy How We Got to Now 10 Years of Growth, COVID & GenAI
- 5. Product Management Consultancy 🦠 COVID brought ZIRP (Zero Interest-Rate Policy) from Mar 2020 to Mar 2022. 💸 We’ve then exited 10 years of “growth at all Costs” while ignoring profitability. 😵 GenAI & LLMs look like what the the internet was in 1990. Times are Changing
- 6. Product Management Consultancy 💍 Product and Tech are responsible for making or saving money. Not an “IT cost center”. Expectations Are Changing 🎖🦠 Frugality and efficiency before anything else. Product & Tech are “the business”. 👑 Financially sustainable initiatives/product, management wants profitability and fast ROI.
- 7. Product Management Consultancy "It takes all the running you can do, to keep in the same place. If you want to get somewhere else, you must run at least twice as fast as that!" - The Red Queen Effect 7
- 8. Product Management Consultancy Transformation Without the Buzzwords
- 9. Product Management Consultancy 1. From (funding) PROJECTS to (funding) PRODUCTS 1. From Time To MARKET to Time To MONEY 1. From OUTPUTS to OUTCOMES Transforming in Marty Cagan’s View
- 10. Product Management Consultancy Or The Lippitt-Knoster Model Source: 5 Components Of Organisational Change aka "Lippitt-Knoster Model”
- 11. Product Management Consultancy Perform & Transform (run the business) (rebuild the plane) Transformation Doesn't Happen in Isolation
- 12. Product Management Consultancy 1. The Champion leaves. It all goes back to square 1. 2. Companies think it takes less than 2-4 years. 3. Dunning–Kruger effect (we “know” tech, product, design). 4. Want 100% predictability (SAFE, Waterfall, etc). Why It Usually Fails
- 13. Product Management Consultancy Transformation By Starting Point Real Case Studies
- 14. Product Management Consultancy 1. 🍳Digital-First Sales/Marketing-Led 2. 🍿 Digital-First Post M&A 3. 🦠 Non-Digital Product or Service Transformation based on Starting Point
- 15. Product Management Consultancy 🦠 The strongest teams are Sales, Customer Success and/or Marketing. Product Management is usually understaffed and underskilled. (e.g. B2B SAAS) 🍳Digital-First Sales/Marketing-Led 🐣 Takes months to get initial traction like being included in Customer calls. Have to gain trust by showing how Product contributes to acquisition/expansion/renewal. 🐥 Help Customer Success/Marketing members transitions to Product as a Junior PM, outside hires tended to exit <12m. Set up commercially focused discovery.
- 16. Product Management Consultancy 🌽 Strong and resilient business model solving a core human need. Product lines spanned multiple markets. Private Equity gets new CPO & CTO to transform it. 🍿Digital-First Post M&A 🌾 Rebuild the plane while flying it (24 months transition to 1 whitelabel platform). Duplicate effort on both “old” and “new” to hit revenue and compliance targets. 🌻 No dominant culture, everyone has their “way”. Labor law slows transitions. Product Ops & Program Management sometimes help organize or are overhead.
- 17. Product Management Consultancy 🐄 Strong and resilient business model. Physical product and service requiring physical assets and blue collar human labor (fresh food logistics, local airport). 🤖 Non-Digital Product or Service 🐮 C-level must be 100% committed to change this. It’s not just Tech and Product, the whole org must change. 🦠 Pilot initiatives work, new ventures work better else the “old ways” bring everything to a halt.
- 18. Product Management Consultancy We’re Almost Done Prepare your Questions
- 19. Product Management Consultancy 1. Transformation a. Became an acute need due to the market and Generative AI. b. It takes long and requires a C-level champion. c. Has many ways of failing. 2. Approach Depends Where You Start From a. 🍳Digital-First Sales/Marketing-Led b. 🍿Digital-First Post M&A c. 🦠 Non-Digital Product or Service Summary
- 20. Product Management Consultancy What We Do Interim Product Management, Product Leadership & Product Ops via our ~50 in-house employees (how we make money) Curate free events and talks in one of Europe’s Largest PM Communities with 32,000 members (how we give back) 20
- 21. Product Management Consultancy Clients eCommerce, publicly listed ride hailing, fmr myTaxi real-estate, publicly listed healthtech, public policy neural machine translation service fitness subscription app refurbished devices marketplace eCommerce, publicly listed search engine, sustainability multimodal travel, Series C book-summarizing subscription app conversational AI, bots, LLM
- 22. Product Management Consultancy 🤖Use 10CAMBRIDGEPM To Get 10% Off *Advertisement from the organizers of tonight’s event
- 23. Product Management Consultancy Thank You 🙌 Mirela Mus Founder & CPO ✉️mirela.mus@getproductpeople.com
Notes de l'éditeur
- In the right conditions, it’s a cost-effective way to acquire new customers/clients through organic growth, upsell, renewal and word-of-mouth recommendations. It also frees up Sales capacity to focus only on large enterprise client acquisitions, while also facilitating that journey.
- In the right conditions, it’s a cost-effective way to acquire new customers/clients through organic growth, upsell, renewal and word-of-mouth recommendations. It also frees up Sales capacity to focus only on large enterprise client acquisitions, while also facilitating that journey.
- Until the “Free Money” party was over. And it all came crashing down.
- Approach depends if you’re C-Level, Product Leader which is a manager of product managers or an Individual Contributor like a Product Manager
- In the right conditions, it’s a cost-effective way to acquire new customers/clients through organic growth, upsell, renewal and word-of-mouth recommendations. It also frees up Sales capacity to focus only on large enterprise client acquisitions, while also facilitating that journey.
- In the right conditions, it’s a cost-effective way to acquire new customers/clients through organic growth, upsell, renewal and word-of-mouth recommendations. It also frees up Sales capacity to focus only on large enterprise client acquisitions, while also facilitating that journey.
- In the right conditions, it’s a cost-effective way to acquire new customers/clients through organic growth, upsell, renewal and word-of-mouth recommendations. It also frees up Sales capacity to focus only on large enterprise client acquisitions, while also facilitating that journey.
- Our mission is to help companies discover and deliver great products faster. We empower our Product Management community to share knowledge generously whilst managing the unglamorous hands-on work of a Product Manager/Owner, Ops, or Product Leader on an interim/fractional basis (3+ months). We onboard fast, align teams and deliver outcomes. “We can also make pretty decks but prefer to deliver outcomes”.