Summary of ProductTank Birmingham: Roman Pichler - AMA on Product Strategy

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00:00:00 - 01:00:00

In the video, Roman Pichler discusses the importance of product strategy and how it can be used to position a product for success. He recommends focusing on strategy rather than constantly revisiting it, and using product life cycle stage to help with this. He also recommends periodically reviewing your strategy.

00:00:00 ProductTank Birmingham is a community of product people who come together to further their craft and make product people more successful. Roman Pichler, a renowned product author, expert trainer, and consultant, is scheduled to participate in an AMA on product strategy. Questions submitted by members will be integrated into the AMA.
00:05:00 Roman Pichler discusses the importance of having a compelling vision for products, how to communicate this vision to team members, and tips for collaborating with stakeholders to come up with a vision that is meaningful and inspiring.
00:10:00 Roman Pichler discusses the importance of establishing a product mindset, the challenges of being in a position of authority without the requisite authority to make decisions, and some recommendations for overcoming those challenges.
00:15:00 Roman Pichler discusses the elements of a product strategy, and how a good strategy should capture the key features, benefits, and desired business goals of a product.
00:20:00 Roman Pichler recommends focusing on strategy rather than constantly revisiting it, and using product life cycle stage to help with this. He also recommends periodically reviewing your strategy.
00:25:00 Roman Pichler discusses how product strategy involves figuring out key features or capabilities that encourage people to make a positive purchase decision or usage decision, ranking the main competitor products against those features, and creating a grid to help communicate the level of detail for a product roadmap.
00:30:00 Roman Pichler discusses the use of product roadmaps and how they can be helpful in positioning a product for success. He stresses the importance of having specific goals and metrics to ensure that the product is moving in the right direction. He also discusses the importance of including features that are bigger than items in the product backlog.
00:35:00 Roman Pichler discusses the importance of product strategy and how it can be developed over time. He also discusses how leadership skills can be beneficial to a product manager.
00:40:00 Roman Pichler discusses the importance of leadership skills in order to get stakeholders on board with a product strategy. He also mentions the importance of setting goals and outcomes for a product, and how to work with stakeholders to achieve these goals. He touches on the idea of evolving the customer relationship, and how to do this without alienating them.
00:45:00 Roman Pichler discusses the purpose of leadership and how to become a better product leader by asking oneself questions such as "what is the purpose of leadership?" and "what do we mean by leadership?"
00:50:00 Roman Pichler discusses the challenges of recruiting strong product people, noting that a competent product person should have a "rich product management knowledge" and be able to make tactical product decisions, understand the product backlog, update and manage it, and prioritize it. He also points out that a product manager should have strategic skills and people skills.
00:55:00 Roman Pichler discusses the importance of product management, its role within a company, and the varying needs of different types of products. He also mentions that it is important to consider the company's context and situation when making decisions about the best product management setup.

01:00:00 - 01:00:00

In this ProductTank Birmingham video, Roman Pichler talks about product strategy and why he thinks it's important for product managers to have their own dedicated organization. He also recommends reading his books on the topic. Next month, Monica Todd will be sharing her own thoughts on product strategy.