Sunday 30 May 2021

Product Management

 1. There is a difference between the Problem Space and Solution Space

In Problem Space, it is acknowledged that customers do not know how to translate their problems into solutions. There are no solutions allowed. One needs to know how the problem makes the customers feel, understand their reality and try to extract information from them.

In Solution Space, it requires a clear problem statement and focus on how to solve it.

Key Point: Don't be too quick to define the solution but instead spend time to understand the problem

Example: Biking to Work

Target customer perceived problem: "I wish I had an electric bike". "I wish I had a better helmet", "Fix the roads and I'll bike"

Target customer actual problem: "I'm really sweaty when I get to work", "I am afraid of being hit by a car", "I am afraid of falling"

Possible solutions: "Shower facility at work", "Safe zones that has Bike lanes", 'Better bikes'

2. One of the downfalls of a not so good product manager is to be too fixated on a fixed approach to solving the problem. Aim towards identifying how the problem is perceived in customer's mind instead of one's own approach to solving the problem in their own way

3. Typical Product Lifecycle

- Evaluate Opportunity

- Design Solution

- Build

- Ship

- Measure

- Iterate and evaluate if initial hypothesis was met

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