The Builder's Guide to the Tech Galaxy

5Product Management Excellence Launching products that create value for customers

With Johnny Quach and Sven Grajetzki

Note: The product and technology functions in startups collaborate closely and sometimes will act as a single combined function. In this chapter, we assume a product-led model in which business-focused goals (e.g., acquisition, conversion, NPS, etc.) are addressed by autonomous product and technology teams led by product managers. Technology-platform-related topics, such as security, quality assurance and reliability, are covered in the Technology chapter.

Key pitfalls for scale-up builders

• Working with a blurred product vision or without one at all

  Some startups do not invest sufficiently in clarifying the core issue they want to solve for their customers. A good product vision articulates the reason WHY the product exists, rather than a detailed plan on WHAT and HOW to build the product. It is important to ensure teams can always refer back to the core issue they are trying to solve and see the product as a vehicle that delivers value to customers (see Practice 27).

• Expanding into new regions or new segments too quickly (or too late)

  Once a company enters a new market or takes its product into a new customer segment, they are slowing down learning curves in its core business. Strong retention and operational efficiency metrics, as well as favorable ...