INSPIRED, 2nd Edition

CHAPTER 56Testing Business Viability

There's no question that it's hard enough just trying to come up with a product that your customers love and your engineers can build and deliver. Many products never get to this point.

However, the truth is this is not enough. The solution must also work for your business. And I will warn you now that this is often much more difficult than it sounds.

Many product managers confess to me that this is the least favorite part of their job. While I understand that, I also explain to them that this is often what separates the good product managers from the great ones, and that more than anything else, this is what is really meant by being the CEO of the product.

Building a business is always hard. You must have a business model that's viable. The costs to produce, market and sell your product must be sufficiently less than the revenue your product generates. You must operate within the laws of the countries you sell in. You must hold up your end of business agreements and partnerships. Your product must fit within the brand promise of your company's other offerings.

This is what is really meant by being the CEO of the product.

You need to help protect your company's revenue, reputation, employees, and customers you've worked so hard to earn.

In this chapter, I name the main stakeholders in a tech‐powered product company, discuss their typical concerns and constraints, and explain how the product manager would test business viability with each ...