RPA, if you haven’t heard about it yet, you will pretty soon. So what is it? Here is a video from IBM
Product management is the new hotness. I regularly get asked advice on how to become a product manager. What follows are some tips!
Nothing is more responsible for the good old days than a bad memory – Franklin Pierce Adams
We’ve all read about how culture eats strategy for lunch. The internet is jam-packed with a million blog posts on the superficialities of culture. Its time for some inside baseball with some actual actionable things to watch out for and prevent.
It is absolutely true that the culture of the company dictates how it can adapt to change and eventually succeed. Culture is hugely important, however along the journey from a small company to a midsize company to a large public company, the culture will change. At all these stages, different parts of the company will have different cultures and norms. In fact sometimes within the same team, you will have differences based on where the teams are located and their size.
It’s been 10 years since the 2008 financial crisis. Astute observers will correct me and point out that the crisis actually started in early 2007 when the Bear Stearns High-Grade Structured Credit collapsed. This was the first collapse of a hedge fund that was loaded up to the gills with subprime CDO’s. If you were following FT Alphaville in late 2006/ early 2007, you’d be ahead of the game. The signs were there! Some great coverage to relive and re-read
So how does this relate to you, young product manager? Some obvious and simple lessons articulated below. Continue reading “Its been 10 long years | Lessons from the GFC”
Some books/podcast/blogs that i’m enjoying at the moment!
I just finished reading the book Thinking in bets by Annie Duke. I highly recommend this book if you want to understand how to make better decisions. She talks about this amazing concept called resulting that blew my mind. In her own words
…was a victim of our tendency to equate the quality of a decision with the quality of its outcome. Poker players have a word for this: “resulting.” When I started playing poker, more experienced players warned me about the dangers of resulting, cautioning me to resist the temptation to change my strategy just because a few hands didn’t turn out well in the short run.
Feedback is a gift, but not all gifts are useful :). Which feedback to listen to and what to discard? What is useful and what isn’t?
Human beings crave certainty and in the world of product management it translates to “estimates of value”. Product managers have to make tradeoffs regularly on what initiates to work out next. At a certain stage of the company the need for “formal estimates of the value of doing X” will kick in, otherwise, how do you know to work on X or Y? There will be an overwhelming desire to quantify everything to the nth detail before deciding what to do next. We all know the dangers of that – If you torture excel enough you will get the answer you want. Use of a complicated bottom-up model in the early stages of a product’s evolution is a huge warning sign for me.
How to counter this?
A thought experiment on the sort of fintech experiences and products we’d want as consumers in the distant (or near) future. The thought process is structured as a conversation between an older father and an adult son. Italics is the dad.
So son, hows your financial life going? Everything under control?
Oh, Fiona’s got it all covered.