Product Strategy for Startups and Growth

Course details

In this class we will focus on what Products are, how you manage product, and what defines and makes product successful. We will discuss Product Manager role (PM), key skills and responsibilities of PM, and what distinguishes good PM from bad PM. 

• Who Product Manager is, what product manager is ultimately responsible for (setting the backlog of what is to be built) and how the go about doing that (knowledge of customer, market, data, industry, technology, etc.)

• What makes an effective PM (passion for product, strategic thinking, creativity, execution, leadership, cross-functional savvy, etc.).

Then we will take a deeper look into how Strategy is set for New Products, Growth Products, and Mature Products, and how product lifecycle affects priorities.

For each product lifecycle stage will define key success formula which is essential to measuring right things and building Product Strategy that drives success. Formulas we will talk about are

• New Product Success as a multiple of Market, Team, Product, and Luck,
• Growth Product Success as Number of Customers, Growth Rate, Virality and K factor,
• Mature Product Success as Customer Lifetime Value or LTV: Revenue, Gross Margin, Retention, Customer Acquisition Cost

Course Target Audience: Students, curious about what Product Management role is about and how different products are managed. They have a basic understanding of the business world and want to be successful product strategists. They want to know how they can apply the tenets of product strategy to their own business or product, and that's exactly what we are covering in this class.

Course Goals

• Explain key concepts around Product Management and Strategy
• Explain qualitative and quantitative aspects of Product Management and critical importance of both
• Explain product lifecycle stages: New Product, Growth Product, Mature Product and define success for each

What class is NOT about

• How to decide if Product Manager job is good for me
• How to get a Product Manager job
• How to acquire key skills to become a successful product manager