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How to create a winning product strategy | Melissa Perri
15 segments available
Every company wants to develop a winning strategy—but what are signs your strategy isn’t working, and how do you change course? Melissa Perri has worked trained PMs and product leaders at nearly all the Fortune 100 companies, and in this conversation shares how to reset a struggling strategy, align your team, and build winning strategy. Join us. Find the full transcript here: https://www.podpage.com/lennys-podcast/how-to-create-a-winning-product-strategy-melissa-perri/#transcript — Thank you to our wonderful sponsors for making this episode possible: • Amplitude: https://amplitude.com/ • RevenueCat: https://www.revenuecat.com/ • Makelog: https://www.makelog.com/lenny — Where to find Melissa: • Website: https://melissaperri.com/ • Twitter: https://twitter.com/lissijean • LinkedIn: https://www.linkedin.com/in/melissajeanperri/ — Where to find Lenny: • Newsletter: https://www.lennysnewsletter.com • Twitter: https://twitter.com/lennysan • LinkedIn: https://www.linkedin.com/in/lennyrachitsky/ — Referenced: • Melissa’s Book: https://melissaperri.com/book — In this episode, we cover: [00:00] What to expect with guest Melissa Perri [02:57] Melissa’s incredibly vast experience working with product manager’s [04:20] Melissa’s current focus: training and education of PM’s [05:59] The most common problems that product teams face [09:48] When to hire your first CPO [14:27] What to do before hiring a CPO [16:16] When to bring an interim CPO consultant like Melissa [21:26] Signs your team doesn’t have a strategy [22:59] Identifying your vision, strategy and intentions as a company [27:48] Signs you’re doing a bad job as a PM [30:30] The process of defining strategic visions [33:28] How to hone your craft as a PM [43:55] Melissa’s Book — Escaping the Build Trap: How Effective Product Management Creates Real Value [48:43] How to avoid burnout [52:19] Where to find Melissa
Segments Timeline
The Root of Product Management Issues
Melissa Perri discusses the common misconception that training is the primary issue in product management organizations. She emphasizes that the real problem often lies in how goals are set and strategies are deployed. Without proper context and a holistic approach, training alone cannot resolve the underlying issues in product teams.
"i've met a lot of organizations that think most of their issues are in the training of their people and 99 of the time i see that it's actually in the way that they're setting their goals and deployin..."
Melissa Perri's Experience with Product Teams
In this segment, Melissa shares her extensive experience working with product managers and organizations. She highlights her roles in teaching, consulting, and her involvement with over 4,000 product managers, showcasing her deep understanding of the challenges faced by product teams across various industries.
"[Music] melissa welcome thank you so much for joining me thanks for having me it's absolutely my pleasure i wanted to set a little context for folks that may not be familiar with you um how many pms h..."
Focus on Training and Education in Product Management
Melissa elaborates on her current focus on training and education for product managers. She discusses her teaching role at Harvard Business School and her online school, Product Institute, which has trained many Fortune 100 companies. This segment emphasizes the importance of continuous learning in product management.
"your experience what do you spend your time doing these days i know there's a lot a lot in your portfolio well right now i'll say my primary focus is on training and education in product management so..."
Common Problems in Product Teams
Melissa identifies the most common problems that product teams face, particularly during the transition from finding product-market fit to scaling. She discusses the challenges of hiring a Chief Product Officer (CPO) and the need for a comprehensive strategy as companies grow.
"i love that you mentioned your book you almost didn't and i was gonna make sure to mention it and we're gonna talk about it more in a little bit and i have it right here and hopefully i can get it sig..."
When to Hire Your First CPO
In this segment, Melissa explains the critical signs indicating that it's time to hire a Chief Product Officer. She discusses the transition from execution-focused leadership to a strategic approach, highlighting the need for effective communication between product and executive teams.
"double click on that what is a sign that it's time for a cpo and and then what do you look for when you're hiring a cpu i know these are big questions but i'd love to hear your thoughts usually whoeve..."
Preparing for a CPO Hire
Melissa shares insights on what organizations should do before hiring a Chief Product Officer. She emphasizes the importance of establishing a clear product strategy and ensuring that the product management team is aligned and well-supported.
"what do you suggest companies do up until that point i know titles are not necessarily consistent i imagine usually there's like a head of product before that point is that what you'd recommend what s..."
The Role of Interim CPOs
Melissa discusses the value of bringing in interim CPO consultants during times of transition. She explains how these professionals can help organizations navigate challenges and set up effective product management practices.
"kind of the skill of product management and some thoughts there when would it make sense for a company to consider bringing in someone like you to do either interim cpr role or just to help out yeah u..."
Signs Your Team Lacks a Strategy
In this segment, Melissa outlines the signs that indicate a product team does not have a clear strategy. She emphasizes the importance of having a well-defined strategy that aligns with the company's goals and the challenges that arise when this is lacking.
"i was gonna save these questions for later but it's a good time as any to get into them around strategy which your book is about i would say is the fact that people just build feature features feature..."
Defining Vision, Strategy, and Intentions
Melissa explains how to identify and articulate a company's vision, strategy, and intentions. This segment focuses on the foundational elements that guide product management and the importance of clarity in these areas.
"when i say too like there's no strategy there's usually some kind of strategy but it lives in people's heads and they're really bad at writing it down and getting it out so i always tell people too if..."
Signs of a Struggling Product Manager
Melissa discusses the indicators that suggest a product manager may not be performing effectively. She highlights the importance of support and guidance for product managers to thrive in their roles.
"test is you go to all of your teams and you ask them what they're doing and why exactly what i was talking about before and they all tell a similar story we're working on x y and z because it will it ..."
Defining Strategic Visions
In this segment, Melissa delves into the process of defining strategic visions for product management. She emphasizes the need for a clear direction and how it impacts the overall success of product teams.
"so you have these conversations which makes so much sense just talk it out see if everyone's on the same page about your goals how you think you're going to get to that goal what do you do with that u..."
Honing Your Craft as a Product Manager
Melissa shares her insights on how product managers can improve their skills and craft. She discusses the importance of continuous learning and adapting to the evolving landscape of product management.
"on the vision piece specifically it reminds me when i was managing pms one of the most common areas of development for them was get better at vision there's always this like here's an opportunity to g..."
Escaping the Build Trap
Melissa introduces her book, 'Escaping the Build Trap,' which focuses on how effective product management creates real value. She discusses the key themes of the book and its relevance to product managers.
"you touched on product operations which you know is your the book that you're working on now i know that there's a role in emerging role product operations can you kind of give us a preview of what th..."
Avoiding Burnout in Product Management
In this segment, Melissa addresses the issue of burnout among product managers. She shares strategies for maintaining a healthy work-life balance and preventing burnout in high-pressure environments.
"as a pm trying to learn trying to get better there's so much information out there there's books newsletters guilty of that uh tweets uh advice podcast all these things that are always coming at you a..."
Where to Find Melissa
Melissa shares where listeners can find her online, including her website and social media profiles. This segment provides resources for those interested in learning more about her work and insights.
"online and how can listeners be helpful to you yeah i am on twitter all the time at lizzie jean l-i-s-s-i j-e-a-n so feel free to tweet with me i love hearing what you guys are up to you can also subm..."