Welcome to Product Management Challenges!

A New Website for Software Product Management Advice

Product Management Challenges has now officially launched as a website. They say that when President Thomas Jefferson moved into the new presidential mansion (now called the White House) upon becoming president, you could still smell wet paint and plaster.

I invite you to enjoy the new paint smell, be here as some of the finishing touches go in, and look around at over 118 articles providing advice on aspects of software product management that you need to successfully:

• Speed product innovation and new features.
• Compete more successfully and gain market share.
• Improve product revenues and profits.

This newsletter began in 2002 as a plain-format email newsletter. I hope you will use this online resource as a treasure trove of on-demand tips and advice whenever you need an assist in your product management efforts.

Rise to the Challenge!

Jacques Murphy
Founder and Editor

ProductManagementChallenges.com

Now Over 118 Articles on Product Management

Product Management Challenges now has over 118 articles on software product management, software requirements, technology marketing, software development, competitive analysis, product pricing, and more. Your subscription gives you easy access to this content whenever you need guidance on a specific topic.

The Beta Launch Has Started!

The beta launch of the ProductManagementChallenges.com website has begun today! Welcome to all of you who have been invited to participate in the beta launch, and an especially enthusiastic welcome to those of you who may have found this site on your own. Subscribe during the beta launch, planned to last for the month of December, 2008, and you can participate in the development of Product Management Challenges by providing feedback on the usability of the site.

Let’s make this a great resource for product management insight!

– Jacques Murphy
Founder and Editor
ProductManagementChallenges.com

Special Subscription Offer for December, 2008

If you subscribe during the beta launch in December, 2008, you can receive a subscription lasting over a year for the cost of a six month subscription! When subscribing, select the 6 month option for $50.00 US dollars (the regular annual price is $75.00). Your subscription will be extended until January 5, 2010.

Your subscription expiration date will be extended manually by Product Management Challenges within two US business days of subscribing. You will receive an email confirming the extension. For any questions, contact jacques.murphy@productmanagementchallenges.com.

07004 Get With the Program: A Programmatic Approach

My experience with Product Management has been one of trying to take the best ideas, and best practices, and applying them to each aspect of my job. It has involved lots of hard work. Yet with those top ideas and hard work, it seems as if it remains just as difficult to achieve results each time. With each time, for each release, with each marketing campaign, the results seem to have been just as vulnerable to failure.

Some of this ongoing difficulty is no doubt due to the downside of the flexibility I so prize. I have found that successful Product Management requires a generous portion of flexibility as a Product Manager moves from one product to another, and from company to company. Without the flexibility to adapt methods and processes to each new situation, Product Management becomes an exercise in forcing one’s will on a very unwilling organization. The negative momentum that results from such forcing can derail the results of a Product Manager’s most rigorous efforts.

Over the years I have gained experience with different products and organizations, and seen successes and failures through several attempts to help build flourishing businesses around software products. I have come to realize that there is a whole aspect to successful Product Management that is separate from, and in addition to, the many piece-meal strategies and tactics that I employ as a Product Manager. That aspect is the concept of a program approach to Product Management.

I have the Disaster Recovery and Business Continuity industry, the industry for the product I currently manage, to thank for introducing me to the program approach. The leading thinkers in Business Continuity Management advocate taking a program approach. Such an approach involves an ongoing effort that builds continuously on the previous years’ efforts.

By following a program approach, a Product Manager can tie together all the necessary and disparate efforts — product design and development, marketing, sales, delivery and service –- into a unified whole. By driving a program, a Product Manager can overcome some of the barriers to reaching common and very important Product Management goals.

Read on for an introduction to the program approach to Product Management.

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07003 For Your Reference: Cultivating Customer References

Using references to talk to your prospects and endorse your software product can be the most effective way to close a sale and cut the length of the sales cycle. They reassure your prospect that his or her impending decision isn’t too risky. For large purchases of business software, references are the equivalent of the much-sought-after word-of-mouth marketing for consumer products.

But cultivating and using good references can be one of the most challenging tasks you may ever face. There are a number of barriers which get in the way of building a good stable of solid references. Read on for some pointers on how to use customer references to your full advantage.

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07002 The Four Phases of Implementation

In today’s issue I’m going to write about something that is near and dear to my heart, something that I have found tremendously helpful working with customers to implement new software and working on my own and with teammates to make important things happen. It’s a way to understand the psychological stages which you – and everyone else I have ever met – go through when you work on a major new undertaking such as buying and implementing a software product. I call it the Four Phases of Implementation.

The Four Phases of Implementation is by no means my original idea. I first read about it in a book about proposal writing, I believe, and I believe the author did not claim the idea as his own. Rather, he was passing along an idea that was widespread. I, however, had never heard it before, and have found it extremely helpful ever since.

I have found the Four Phases of Implementation to be so useful, in fact, that at my current company I started paying a visit to each and every class of trainees in our product for the express purpose of describing the Four Phases. I know that by imparting this information to my customers, I can help them better work through the implementation of our software product. Not only does it help them directly, but I charge them with taking the Four Phases idea and walking their teammates through it when they get back at the office, all in the interest of making our product easier to adopt and making its implementation more successful.

Read on below for a description of the Four Phases of Implementation.

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07001 Ten Myths About Software Requirements

Again and again, I see organizations struggle with requirements, that component of making software where the needs and desires for new and changed capabilities are defined and handed to Development to build into the product. The challenges stem from one or more important misconceptions about requirements. These misconceptions in turn prevent the team in various ways from providing, creating, selecting, or transmitting requirements so that work can begin on enhancing the product.

Read on for a discussion of ten common misconceptions about requirements that hold organizations back from good requirements and more effective product development.

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06019 Pretty Please: A Product Manager’s Wish List

With the holiday season upon us, I can’t help but think about what every Product Manager needs and wishes for in order to watch their product succeed and to flourish in their career.

Watching your product succeed provides plenty of gratification, and the success of the product rubs off on the Product Manager. Such wishes as Everyone’s Bright Ideas and Quality By Default aim at product success.

But it’s also important for a Product Manager to attain direct career success, sometimes despite the environment. That’s the reason for wishes such as A Guiding Light and A Measure of Success.

Read on below for A Product Manager’s Wish List.

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06018 Lead By Example: Building Thought Leadership Into Your Product

Companies strive hard to create new software products that address an unfilled need in the market. When a product hits the mark, it enjoys success, and if it goes beyond innovative to transformational, it becomes an unqualified success. Just about every company and Product Manager hopes for such a product, one that brings in customer accolades, sales and profits.

What makes a product transformational is that it doesn’t just help people do their old job better. Rather, it lets people do their job in a whole new way. A transformational product comes with ideas for great new ways of doing the job, ideas which are built right in, so that the software reflects new approaches and best practices.

The new approaches and practices are woven right into the structure of the product, and reflected in specific capabilities. When customers buy your product, they are buying not only the software but also the built-in guidance, your company’s thought leadership.

But building thought leadership into your product presents an added challenge for customers who are faced with learning both a new tool and understanding new ways of doing their work. It can add a degree of difficulty to the implementation of the software that can threaten the whole project’s success.

Read on below for bright ideas and lessons learned about what is involved when you have built thought leadership into your product.

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