Product Mastery Now for Product Managers, Leaders, and Innovators

Chad McAllister, PhD
Product Mastery Now for Product Managers, Leaders, and Innovators

Welcome to Product Mastery Now, where you learn the 7 knowledge areas for product mastery. We teach the product management practices that elevate your influence and create products your customers love as you move toward product mastery. To learn about all seven areas and assess your strengths in product mastery, go to my website -- https://productmasterynow.com -- and click the Podcast button at the top of the page. Hosted by Chad McAllister, product management professor and practitioner.

  1. 6 DAYS AGO

    513: What product leaders need to know about making new product development work – with Jack Hsieh

    Tips for managing global innovation projects Watch on YouTube TLDR In this episode of Product Mastery Now, I speak with Jack Hsieh about successful product development strategies. Jack brings 20 years of experience managing innovation projects at companies like Sony Ericsson and Logitech. He shares practical insights from the Product Development and Management Association (PDMA) framework and explains how product managers can use these principles to improve their product development process. Through real examples from his work in consumer electronics and aerospace industries, Jack shows how PDMA’s body of knowledge helps create successful products while avoiding common pitfalls in portfolio management. Key topics discussed: * Innovation requires both strategy and execution * Market research remains fundamental * Process choice should match organization culture * Portfolio decisions need global perspective * Technical expertise matters in leadership Introduction While recording this episode at the PDMA Inspire Innovation Conference, I had the opportunity to talk with Jack Hsieh about product development evolution. PDMA has been supporting product professionals since 1976, making it the oldest organization dedicated to product management. Jack explains how PDMA’s comprehensive knowledge base helps companies innovate effectively across different industries and cultures. Understanding New Product Development Jack breaks down new product development (NPD) into clear components that every product manager should understand: * Turning ideas into products and services that customers will buy * Finding market opportunities that create value for organizations * Making existing products better through strategic improvements * Creating new value for established markets The PDMA Body of Knowledge Framework 1. Strategic Alignment Jack describes how product development needs alignment at multiple levels: Strategy Level What It Means Why It Matters Corporate Strategy Company’s overall direction Guides all product decisions Business Unit Strategy Market-specific plans Focuses resources effectively Innovation Strategy Product development priorities Directs innovation efforts Capability Strategy Resource planning Ensures successful execution 2. Portfolio Management During our conversation, Jack shares valuable insights from managing product portfolios at Sony Ericsson. He explains how the company handled three distinct product lines: * Smartphones * High-end feature phones * Low-end feature phones This experience taught him important lessons about resource allocation. For example, his business unit needed to coordinate holidays across three regions: Sweden, Taiwan, and Japan. The overlapping work schedule only provided 190 days per year for full team collaboration, making resource planning especially important. Jack uses Boeing and Airbus as examples to illustrate key portfolio management principles: Portfolio Decision Impact Lesson Learned Boeing’s 737 platform extension Technical challenges with aging platform Need for balanced technical and business leadership Resource allocation across product lines Product cannibalization between categories Importance of global portfolio optimization Technical vs. business leadership Impact on long-term product decisions Value of technical expertise in leadership 3. Process Management

    38 min
  2. OCT 28

    512: Improve your product creativity by finding the right partner – with Leah and Phillip Abraham

    Product innovation lessons from social media content creation Watch on YouTube TLDR In this episode of Product Mastery Now, I’m interviewing Leah and Philip Abraham, a creative duo with expertise in songwriting, acting, music production, and filmmaking. Their diverse background offers valuable lessons for product managers looking to improve their innovative thinking techniques. Throughout our conversation, we explore insights from their creative process that can be applied to product innovation and management. * Innovation is a learnable process, not just an innate talent * Complementary skills in teams can lead to more holistic product innovation * Balancing intuition with data-driven decision-making enhances product development * Rapid prototyping and iterative development accelerate learning and innovation * Embracing a “no bad ideas” culture fosters creativity in product teams * Learning from failures and maintaining enthusiasm through setbacks is crucial for long-term success * Continuous learning and adaptation of innovation processes are essential in product management This episode explores insights from creative professionals that can be applied to enhance innovation in product management, offering practical strategies for product managers to foster creativity, leverage rapid feedback cycles, and overcome challenges in the innovation process. Dismantling Misconceptions About Innovation We start by addressing common misconceptions about innovation, particularly the belief that creativity is an innate talent rather than a skill that can be developed. This idea is especially important for product managers and leaders responsible for driving innovation within their organizations. Leah and Philip share their experiences, showing that innovation is indeed a process that can be learned and improved over time. Complementary Creativity in Partnerships Leah and Phillip have experience in acting and film production and are now most famous for cinematic shorts on social media. They explain that they enjoy creative collaboration in many areas, including filmmaking, photography, music, and art. Leah and Phillip share that their creativity is complementary and they bring out creativity in each other. Phillip has a technical background while Leah focuses on character arcs. Innovation in the Creative Process When making a skit, Leah and Phillip often start with a sketch of the story and improv to fill in the details. They’re often inspired to make a skit based off something that happens in their lives. For example, a recent video called “When they cancel plans but you’re both introverts,” was inspired by Leah and Phillip’s introvertedness. Leah and Phillips use a  “no bad ideas” approach, which creates a safe space for sharing and building upon concepts. They give each other permission to throw out ideas without shame and then make those ideas better together. Benefits of Rapid Feedback Cycles Compared to producing a whole film, creating short-form content on social media provides more opportunity to receive rapid feedback and iterate. Analytics let Leah and Phillip see what aspects of their content viewers are engaging with most. Sometimes the parts of their content they almost didn’t include end up being the most popular with their audience. Leah and Phillip share that feedback from viewers has been affirming and eye-opening, and the most fulfilling part of their creative process is figuring out what viewers like about their content and building an intuition for creating engaging content. The Role of Intuition in Creativity and Innovation Leah and Phillip explain that they’re learning about to balance intuition with data-driven decision making. I think of intuition as my experience taking shape that my br...

    46 min
  3. OCT 21

    511: Product insights from employee #1 after a $2.3 billion exit – with Chris Elmore

    How product managers can foster a culture of innovation Watch on YouTube https://youtu.be/14cLrVAu7BA TLDR In this episode of Product Mastery Now, I’m interviewing Chris Elmore, a tech entrepreneur and college professor who helped found Avid Exchange, a unicorn startup that went public in 2021. Chris brings years of experience in product innovation and management, and he’s here to share his thoughts on driving innovation and keeping businesses growing for the long haul. Here are the key points from our conversation: * A simple definition of innovation: “It’s better than what it was” * Rethinking organizational structure can improve the flow of innovative ideas * Hiring should focus on cultural fit and alignment around organization mission and purpose * Everyone in an organization can be an innovator The Importance of Innovation in Today’s Business World As we start our chat, Chris highlights why innovation matters so much in today’s fast-moving business world. Products and services don’t stay relevant as long as they used to. Because of this, companies can’t just rely on what worked in the past. Innovation is key to keeping a business growing and thriving. Building a Culture That Supports Innovation One of the main topics we explore in this episode is how a company’s culture can help or hinder innovation. Culture is the unwritten rules of an organization – what people are allowed and expected to do. Chris shares his experience of keeping a strong culture, and even improving it, as his company grew. This challenges the common idea that company culture always gets worse as a business gets bigger. Chris says that the quickest way to destroy culture is to put someone in charge of it. When someone is in charge of culture, the culture becomes that person’s version of culture. Instead of taking charge of culture, leaders can use stories to reinforce a culture of innovation. For example, Chris tells his teams a story of how he tells his kids that he doesn’t care about their grades as long as they’re putting in full effort, but usually full effort leads to good grades. This communicates to his team that effort will eventually lead to the desired outcome. Rethinking How Companies Are Structured to Support Innovation We also discuss Chris’s thoughts on how company structure can affect innovation. He critiques traditional hierarchies, suggesting they can make it hard for innovative ideas to flow, especially ideas from employees who work closely with customers. Chris observes that most good ideas come from the middle third of an organizational chart. Often, people in the middle or bottom third of an organization try to communicate their ideas to leadership who don’t understand the idea or are scared of innovation, so many great ideas fail. Instead of a traditional org chart, Chris proposes thinking of the organization as a curve that represents everyone’s understanding of where the organization is going. The beginning of the curve represents where the organization is today, and the end represents where the organization needs to go. The goal of a leader is to get the organization over the valleys to go further down the curve. This approach focuses on aligning everyone in the organization towards common goals and outcomes, rather than rigid reporting structures. Producing Alignment To explain what the organization is working toward and get a team aligned around common goals, Chris concentrates on three things: mission, purpose, and outcome. The mission and purpose should be aligned with the organization’s outcomes. If not, we have work to do. If someone can’t get behind the mission and purpose, they can’t be in the organization anymore.

    43 min
  4. OCT 14

    510: How to use these AI tools to create a product brief – with Brian Collard

    How product managers can use AI to work more efficiently Watch on YouTube TLDR * AI is changing how we manage products and come up with new ideas, giving us new tools to work faster and be more creative. * AI can help in many parts of making a product, from research to writing product plans and documents. * To use AI well in product management, we need to know how to ask it questions (called prompt engineering), balance AI ideas with human know-how, and always double-check AI’s work. * AI can make tasks faster, but it’s important to keep people involved and use AI to help, not replace, our usual ways of working. * The future of product management will involve using more AI tools, like advanced language models and creating fake data for testing. We’ll need to keep learning as AI keeps getting better. Introduction In this episode, I’m interviewing Brian Collard, an expert in managing big projects and plans for global companies. Brian has been working for 15 years in different industries like finance, healthcare, and technology. We’re talking about how artificial intelligence (AI) is changing the way we manage products and come up with new ideas. As people who manage products, lead teams, or come up with new ideas, we’re right in the middle of this AI revolution. We need to figure out how to use AI to make products that customers will love, while also dealing with all the new things AI brings to the table. Before using AI, check your organization’s policy to make sure you’re in compliance. Be careful when using AI, especially with sensitive information. AI in the Product Development Lifecycle Discovery and Research Phase Large language models can come up with ideas, but always keep humans in the loop. AI is a great way to augment the discovery process, but it won’t completely replace traditional research methods. Brian recommends a three-step formula for prompting AI: * Input: provide context * Create scaffolding: understand typical processes that industry experts use * Output: the output from the AI is now more valuable to you because you have documented the inputs and processes that created it Creating Product Briefs with AI One area where Brian sees significant promise is in the creation of product briefs. He shares that product managers are reporting efficiency gains of around 50% when using AI to assist in drafting these important documents. AI can help with: * Rapid generation of initial draft product briefs * Assistance in structuring briefs with key components * Increased output and iterations Brian notes that while AI can significantly speed up the process of creating product briefs, these documents often require nuanced understanding and strategic thinking. He advises using AI as a starting point, but always reviewing and refining the output to ensure it aligns with product strategy and organizational goals. Artificial Intelligence and Hallucinations Large language models can hallucinate, or make up information, such as links that do not exist. Brian recommends the tool Perplexity.ai, which removes hallucinations and brings in real-time information. He also recommends that we trust but verify when using information from AI. Mastering Prompt Engineering for Product Managers Brian gives some tips for talking with AI tools, or prompt engineering. The Importance of Context Brian explains that when we use AI tools, we need to give them clear background information. This helps the AI understand exactly what we’re working on and what we need. Chain of Thought Prompts Brian introduces the idea of chain of thought prompts. This means guiding the AI through a series of steps. It’s especially useful for complex tasks.

    33 min
  5. OCT 7

    509: Prototyping mastery for product managers – with Matthew Wettergreen, PhD

    Insights for product managers from a professor teaching engineering design and prototyping Watch on YouTube TLDR * The value of starting with simple, low-fidelity prototypes * The importance of focusing on the problem before jumping to solutions * The need for making well-supported decisions throughout product development * Real-world examples of how prototyping leads to innovative solutions Introduction In this episode of Product Mastery Now, I’m talking with Dr. Matthew Wettergreen, Associate Teaching Professor at the Oshman Engineering Design Kitchen (OEDK) at Rice University. We discuss the benefits of low-fidelity prototyping, the engineering design process, and how to use prototypes effectively to solve problems and validate ideas. The episode also covers potential pitfalls in prototyping and best practices for product managers. The Power of Prototyping in Product Management The Oshman Engineering Design Kitchen at Rice University is an academic makerspaces where students learn innovation and product development skills. This 20,000 square foot facility has top-notch machines for digital and 3D prototyping, allowing students to create products that look like store-bought items. Prototyping is a key tool for product managers who want to create value for customers. Matthew explains that prototypes help product managers confidently develop solutions that make customers happy. By using prototypes wisely, product teams can figure out what truly meets customer needs and test solutions before launching them in the market. The Value of Low-Fidelity Prototyping Matthew has discovered that in many parts of the world, people build things with no budget at all, not just a low budget. He saw this resourcefulness in places like Ethiopia, where everyday items are reused in clever ways. For example, highway dividers made from cut-up palm oil containers show how people can create solutions with limited resources. In the OEDK, students have access to high-tech equipment, but they won’t always have the OEDK available to them. At the ODEK, students always start with no budget and prototype using readily available materials. This approach, called low-fidelity prototyping, has several benefits: * Causes students to produce more prototypes * Results in higher fidelity and resolution in the final product * Only require practical ingenuity and creative problem-solving to produce * Encourages quick iteration * Allows for fast and cheap testing of ideas * Makes it easier for people to work together and share ideas Types of Prototypes and Their Fidelity Prototyping is a method of problem-solving that creates physical or digital objects, called artifacts. Prototype Fidelity Characteristics Best Use Low-Fidelity Meets few design goals, not at the right scale, made from analogical materials Early brainstorming, fast testing of ideas Medium-Fidelity Meets some design goals, close to actual scale, made from mostly suitable materials User testing, gathering detailed feedback High-Fidelity Meets most design goals, at the correct scale, made from the best available materials Final testing, showing to stakeholders The Engineering Design Process Matthew introduces the seven-step Engineering Design Process used at the OEDK: This approach begins with understanding the problem before jumping to solutions. Fifty-one percent of the design experience should be spent in the prototyping, testing, and iterating phase. * Clarify the team assignment * Develop a Design Context Review * Set design objectives and constraints * Develop solution options

    41 min
  6. SEP 30

    508: The practices of the most innovative companies – with 2024 Outstanding Corporate Innovator winner

    DFW Airport’s journey to winning PDMA’s 2024 Outstanding Corporate Innovator Award Watch on YouTube TLDR In this episode of Product Mastery Now, I’m interviewing Jodie Brinkerhoff, VP of Innovation at DFW Airport, about DFW’s journey to winning PDMA’s Outstanding Corporate Innovator (OCI) Award. The discussion covers DFW’s approach to airport innovation, including their dedicated innovation team, strategic focus areas, and unique challenges as a government organization. Brinkerhoff shares insights on fostering an innovation culture, collaborating across departments, and balancing innovation with operational demands in a complex airport environment. The episode provides valuable lessons for product managers and innovators in various industries, highlighting the importance of executive sponsorship, employee engagement, and a structured innovation process. The Outstanding Corporate Innovator (OCI) Award For 37 years, companies have competed each year to be recognized as the Outstanding Corporate Innovator, awarded by the Product Development and Management Association (PDMA). The selection process seeks companies that consistently generate and harness long-term value through exceptional product and service innovation. Winning companies demonstrate well-defined new product development practices and processes which have contributed to their innovation success. Open to companies worldwide, the award epitomizes innovation excellence. One of the 2024 winners is the DFW Airport. Let’s find out what makes this airport an exceptional innovator. I’m with Jodie Brinkerhoff, the VP of Innovation at DFW Airport. PDMA and the Inspire Innovation Conference The PDMA, founded in 1976, is the longest-running professional association for product managers, leaders, and innovators worldwide. PDMA contributes significantly to research and knowledge in the field of product innovation. I recorded this interview at the 2024 Inspire Innovation Conference, which serves as a platform for sharing insights and best practices in product development and innovation management. Innovation at DFW Airport DFW Airport’s commitment to innovation dates back to its inception 50 years ago. However, recognizing the need for a more structured approach to innovation, the airport established a dedicated innovation team in 2018. This decision was driven by several factors: * The lack of a shared process and language for innovation across the organization * Operational demands limiting the focus on innovation * The need to de-risk the future of airport operations Brinkerhoff explains that innovation has always been part of DFW’s DNA, baked into the mission, vision, and values of the organization. However, as technology continued to change and the pace of change grew, there was a recognition that a more formalized approach was needed. DFW Airport Operations and Innovation Challenges As one of the world’s busiest airports, DFW faces unique challenges in implementing innovation: Challenge Description Scale of Operations Up to 300,000 people daily; 2,000 DFW employees and 65,000 total workers on-site Operational Demands Balancing day-to-day operations with long-term innovation initiatives Government Organization Status Navigating regulatory constraints and procurement processes Managing an airport operation is complex. This operational focus can often draw attention away from innovation efforts, especially during busy periods or when issues arise. DFW’s Innovation Approach The airport’s innovation strategy aligns closely with its overall strategic planning, focusing on four key areas: * Operational excellence * Customer experience

    29 min
  7. SEP 23

    507: Navigating the second product problem – with Greg Coticchia

    To survive, your company must sell multiple products Watch on YouTube TLDR In this episode, I’m interviewing Greg Coticchia, an experienced CEO and product management expert. The discussion focuses on the challenges and strategies involved in expanding from a single product to multiple products. Key points include: * Why companies have to expand to multiple products to survive * The importance of portfolio management in product development * Cultural challenges in product expansion * Strategies for building influence as a product manager * Lessons from successful companies like Apple and Netflix * Practical tips for navigating the Second Product Problem The episode provides valuable insights for product managers looking to navigate the complexities of product diversification and enhance their leadership skills. Introduction Your organization’s survival depends on its ability to successfully expand from a single product to multiple products. This episode features an in-depth conversation with Greg Coticchia, CEO of SE Healthcare and product management expert. Greg shares his extensive experience and insights on the challenges and strategies involved in product portfolio management and business growth strategies. The Importance of Portfolio Management As product managers advance in their careers, understanding portfolio management becomes increasingly crucial. Greg explains that while senior product leaders recognize the necessity of portfolio management, product managers often question its relevance to their role. The key takeaway is that understanding how projects are selected is essential for gaining support for new ideas and initiatives. The Challenge of Expanding from One Product to Multiple Products Greg introduces the concept of the Second Product Problem, highlighting the difficulties organizations face when transitioning from a single product to multiple offerings. He emphasizes several key points: * The rarity of creating a commercially successful product * The tendency for companies to equate their identity with their first successful product * The need for multiple products to ensure long-term business sustainability Greg points out that it’s extremely rare for a software product to reach $100 million in revenue. This reality underscores the importance of diversifying a company’s product portfolio to achieve significant growth and longevity. Cultural Challenges in Product Expansion One of the most significant obstacles in product diversification is the cultural shift required within the organization. Greg identifies several challenges: * Company-product identity issue: Organizations often struggle to separate their identity from their initial successful product. * Resource allocation challenges: Deciding how to distribute resources between existing and new products can be contentious. * Risk perception and management: The fear of cannibalizing existing product success can hinder innovation. Greg explains that these cultural challenges often lead to resistance when introducing new products. Employees who have been with the company for a long time may find it difficult to adapt to new directions, especially if they’ve been successful with the original product. Strategies for Successful Product Expansion To overcome these challenges, Greg suggests several strategies: Creating Autonomous Teams Following the example of Apple’s Macintosh development, physically separating new product teams can foster innovation. Greg shares the story of how Steve Jobs moved the Macintosh team to a separate building and raised a pirate flag, symbolizing their independence from the rest of Apple. Addressing Cultural Issues Recognizing the importance of having the right peop...

    45 min
  8. SEP 16

    506: Everyday practical innovation – with Jerry Fix and Terry Carroll

    What product managers need to know about the Targeted Innovation Process Watch on YouTube TLDR The Targeted Innovation Process is a practical framework that helps product managers drive innovation in their organizations. This approach focuses on understanding customer needs, generating quality ideas, and turning those ideas into real value. The process has five main steps: * Stating the problem * Understanding problem-solving styles * Creating creative pathways * Generating ideas * Evaluating ideas Introduction Innovation is key to product management. It’s what helps create products that customers love and keeps companies successful in the long run. As a product manager, knowing how to use effective innovation processes is crucial to stay competitive in today’s market. In this episode, Jerry Fix and Terry Carroll explained the Targeted Innovation Process, a practical way for product managers to drive innovation in their companies. They described each step of the process, shared a real-world example, and discussed how to show the value of innovation programs in your company. A Working Definition of Innovation Filling the Idea Funnel Think of innovation in product management as filling a funnel with high-quality ideas. This approach involves coming up with lots of concepts and gradually refining them through different stages of development. The goal is to have a strong innovation process that provides a steady stream of valuable ideas for product managers to work with. Staying Close to Customers A big part of successful innovation is keeping a close connection with customers. This involves: * Understanding their challenges and needs * Observing their work environments * Gaining insights beyond what customers directly tell you By staying close to customers, product managers can make sure their innovation efforts match real market demands. Two Ways to Define Innovation Jerry and Terry shared how they think about innovation: Terry: Creating a better mousetrap: This means making meaningful improvements to existing products or creating new, viable solutions that add real value for customers. Jerry: Turning ideas into value: Innovation isn’t just about coming up with ideas. It’s about turning those ideas into tangible benefits for customers and the company. Understanding the Targeted Innovation Process The Targeted Innovation Process is a practical approach to innovation that focuses on generating high-quality ideas and efficiently turning them into valuable products. This framework has five key steps: Step Description 1. Stating the problem Clearly defining the challenge or opportunity 2. Understanding problem-solving styles Identifying appropriate approaches for your organization 3. Creating creative pathways Developing routes to connect ideas with innovation 4. Generating ideas Using various techniques to produce potential solutions 5. Evaluating ideas Assessing and selecting promising concepts for development This process is designed to be more focused and practical than traditional open-ended innovation approaches. It encourages product managers to consider real-world constraints and their organization’s capabilities throughout the innovation journey. A Closer Look at Each Step of the Targeted Innovation Process Jerry and Terry explained each step of the Targeted Innovation Process in more detail: Step 1: Stating the Problem The first step in the process is to clearly articulate the problem or opportunity you’re addressing. This involves: * Creating an open-ended problem statement

    40 min
4.9
out of 5
63 Ratings

About

Welcome to Product Mastery Now, where you learn the 7 knowledge areas for product mastery. We teach the product management practices that elevate your influence and create products your customers love as you move toward product mastery. To learn about all seven areas and assess your strengths in product mastery, go to my website -- https://productmasterynow.com -- and click the Podcast button at the top of the page. Hosted by Chad McAllister, product management professor and practitioner.

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