3 Product Lessons I Learned From Finance

3 Product Lessons I Learned From Finance

When I went to college I knew that my ultimate aspiration was to found my own tech startup and in order to prepare myself for that goal, I decided to pursue a dual-degree at the University of Pennsylvania from both the engineering and business schools. I studied computer science in the engineering school and ultimately settled on finance at Wharton. While I may have been better served studying marketing or management, I did learn some important finance principles that I still use day-to-day in my product management role. I wanted to share three such principles that I find incredibly relevant to product.

Understanding User Psychology: Thinking Like a Game Designer

game-mechanics

[This is the third post in my Understanding User Psychology series. If you haven't already, make sure to check out Meet Your Happy Chemicals and The Psychology of Persuasion.]

When looking to understand user psychology to design better product experiences, one of the richest sources of knowledge exists within the game design world. Game designers have been refining their techniques for decades to build ever more engaging and enjoyable experiences that drive specific player behavior. Their techniques are rooted in a deep understanding of player psychology and have built an incredible set of mechanics that they repeatably leverage to design addicting games.

Today I wanted to provide an overview of some of the tenants of game design and particular game mechanics that can be leveraged to drive user behavior in any digital product.

My Top Five Product Management Essays of 2016

2017

2016 was another great year of writing for me. I published my 100th essay at the beginning of the year and wrote another 20 essays throughout the rest of it. I grew unique visitors by 50%, page views by 80%, Twitter followers by 30%, and email subscribers by 450%.

But just like everything I do in product, what excites me most is rarely the stats, but the impact I have on real people's lives. And this year I appreciated the outpouring of notes from readers. I relished the stories of helping a reader get their very first product manager job, helping an entrepreneur to reach product/market fit, and helping a new product leader find their footing in their expanded role. Please keep sharing your stories as it's really the fuel that motivates me to keep on writing.

As a quick look back, here are the five most popular essays I published this year in case you missed any of them.

Podcast: Developing a Continuous Feedback Loop



Listen: SoundCloud | Apple Podcasts

I recently joined Ravi Sapata on Yours Productly, a podcast where he interviews various product leaders on their lessons learned developing successful products.

We talked at length about what I've learned regarding how to best build a continuous feedback loop that allows you to consistently learn from your customers. We also talked about how important it is for product managers to deeply understand user psychology as it is the basis for developing delightful product experiences.

Modern Project Management for Product Managers

modern project management

One of the critical responsibilities of product managers is driving the overall execution of their product. Relentless execution will ultimately determine whether you'll be able to make your product vision a reality. Driving the execution of your product not only means doing whatever it takes to make your product win, but it also encompasses a set of core project management responsibilities. While many product managers are familiar with agile methodologies for managing a development team, I don't believe it provides a full view of how a product manager should be effectively managing their overall product process.

Today I wanted to provide a complete picture of a modern project management process for product managers. This covers a set of planning and project management activities that product managers should drive annually, quarterly, bi-weekly, and daily to effectively manage a product development process. It's rooted in the agile movement, with a deep recognition that customer needs and product requirements are ever-evolving and agility is absolutely paramount to enable you to swiftly change plans as soon as it's appropriate. At the same time, it recognizes that planning is absolutely necessary for enabling blue-sky thinking, thoughtful trade-offs of priorities, driving team alignment, and ultimately for enabling you to realize your product's long-term vision.

Understanding User Psychology: The Psychology of Persuasion

cialdini-influence

[This is the second post in my Understanding User Psychology series. If you haven't already, make sure to check out the first post: Meet Your Happy Chemicals.]

When looking to understand user psychology in order to design better product experiences, Robert Cialdini's seminal work, Influence: The Psychology of Persuasion, is a classic read. Robert Cialdini brings to bear his years of research on influence to detail the 6 weapons of influence leveraged by compliance practitioners (salesmen, car dealers, fund raisers) to get you to say yes to whatever they are selling. These same tactics can be leveraged in designing product experiences to help delight users as well as drive them to our desired product behaviors.

5 Paths To Your First Product Manager Role

5 Paths

The most common question I get from aspiring product managers is how to land their first product manager role. Unfortunately it's not an easy question to answer because there isn't a single straightforward path into product management, but instead a variety of paths from which product managers typically come from. I wanted to share the five most common paths that I've observed for individuals landing their first product management role and how to increase your chances of landing the job through each path.

Understanding User Psychology: Meet Your Happy Chemicals

happy-chemicals

As product designers, we aspire to build product experiences that are not only useful (solve a real pain point for our users) and usable (effortlessly allow our users to accomplish their goal), but ultimately delightful (elicit a positive emotion from users). I find product teams are usually pretty good at building useful experiences, identifying pain points through market research, industry expertise, and their own experiences. Similarly we've established a strong set of best practices around building usable experiences, through significant design methodologies and established guidelines. Yet the dimension we continue to struggle with as an industry is repeatably building delightful experiences.

The challenge with designing a delightful experience is inherent in the very nature of needing to elicit such an emotion from our users. It requires us to get into our user's head enough to deeply understand what in fact will create such an emotional response. To build this muscle, I've found it incredibly helpful to invest in learning about human psychology. And specifically there have been a few frameworks that I've found particularly insightful and applicable to understanding user psychology. In this series of posts, I will share my favorite user psychology frameworks that will help you design more delightful product experiences.

The Best Product Managers are Truth Seekers

truth

One of the personality traits I value most in successful product managers is they are inherently truth seekers. Truth seekers have a strong bias towards discovering the truth being their primary motivation and what ultimately guides their decision-making. It takes incredible humility and curiosity to embody this trait, but when it exists, the benefits are felt throughout the entire R&D team.

Designing Your Product's Continuous Feedback Loop

feedback

Video: Developing a Continuous Feedback Loop
Slides: Developing a Continuous Feedback Loop

While every product team I've worked with leverages customer feedback to inform product decisions in some way, most fall short of designing their customer feedback loop to maximize the benefits to the product team of gathering, recording, and synthesizing feedback. They also often treat customer feedback as a point-in-time activity as opposed to a far more helpful continuous process. I wanted to share some of the best practices and techniques I've used for developing a product's continuous feedback loop, designed specifically to maximize the benefit of the customer feedback that your organization is already hearing.