Product Collective - 🔨 New vs existing product

How Product Management changes through the product life cycle

If there’s one place where the phrase “it depends” really applies, it’s deciding which product management techniques to use based on the product life cycle. You simply cannot approach a completely new product in the same way that you treat a product that you’re getting ready to sunset. These resources describe the different stages of the product life cycle and provide some insight into which techniques work best for each stage.

How Product Managers navigate the product life cycle. Have you ever discovered that the product management techniques that served you well on past products just don’t seem to work in your latest effort? One reason those trusty techniques may not work is that the product you’re working on now is not at the same stage of the product life cycle as your past products were. The product life cycle is the journey each product takes from the inception of an idea all the way through to a product’s retirement. Kent McDonald explains the five stages of product lifecycle management and what you, as a product manager, should focus on while in that stage.
(via @kentmcdonald)

Product Management’s role at every phase of the product life cycle. Every product has a life cycle that comprises various phases. And the demands placed upon a product manager often vary depending on the lifecycle stage their product is in. The product manager role requires the use of different mental muscles and skills for driving it to the next step in its lifecycle while being simultaneously led by the product strategy. Identifying, acknowledging, and understanding which phase a product is in is just as critical as knowing what each stage requires. The folks at Product Plan define each phase—Introduction, Growth, Maturity, and Decline—and highlight what product managers should focus on during each period.
(via @productplan)

Continues below...

What got you here won't get you there

Product Management can be such a tricky thing. Barely any of us went to school to be product people. In a way, we fell into our first position in product. And because of that, we’ve had to help ourselves learn along the way until we finally get to a point where we actually feel like we know what we’re doing. And then… just like that… things change.

Perhaps our product moves into a new stage of product development. Or perhaps we move into a new stage as product management professionals – from Product Manager to Product Leader.

Whatever the case may be, the things we used to do to manage our products or manage our careers require something different. And then, it’s back to the drawing board for us as we figure out the way to navigate the next stage.

But we’re product people – we will figure it out. Nobody ever said this job was easy. It’s not. It requires a constant evaluation of both your product and your career and an understanding of when a new approach is required.

If you’re feeling like you aren’t so sure what that new approach looks like quite yet – let me tell you something. It’s OK! Really, it is. Simply recognizing that the old approach won’t get you to that next stage is an accomplishment in itself. And communities like Product Collective are certainly here to help you figure out what that next approach looks like.

So keep at it, product person. And we’re here for you when you need help figuring out that next step!

Ultimate Guide to Product Management Podcasts

INDUSTRY: The Product Conference is back with a bang! The in-person edition returns on September 19-21 in Cleveland, Ohio, reviving the top independent product conference anywhere. Join these forward-looking product companies for 3 days of inspiration and lifetime connections.

How Product Managers can maximize profitability through the product life cycle. Product profitability is an equation of cost, price and demand — and, crucially, where the product is in its life cycle. Robert Snow explains how you can shift from sales goals to profit goals by setting objectives around returns or profits while adapting your price strategy as your product changes through its life cycle.
(via @Gartner_inc)

Are you working in the right part of the Product Life Cycle? Nick Caldwell has worked in, inherited, started, or experienced teams in every part of the product life cycle. For folks unfamiliar with the concept of a Product Life Cycle, Nick explains it and how it affects the people and projects you work on. Maybe this will help you understand if you’re in the right place to achieve your goals and maximize the impact of your efforts.
(via @nickcald)

Creation, Maintenance & Destruction: A Product Lifecycle Philosophy.  In Indian mythology, Lord Brahma created the universe , Lord Vishnu preserved the universe, and Lord Shiva destroyed the universe for the next creation. Product life cycles go in the same directions with product stages like introduction, growth, maturity, and decline. In his Productized Lisbon 2017 talk, Rushil Dave from Zalando Tech goes through the main stages of the product life cycle with suggestions on how to deal with creation, maintenance and destruction of products to make sound decisions and validate them as early as possible.
(via @ProductizedConf)

Transitioning from Managing Products to Managing People

As Product Managers, it's tricky enough to navigate what it takes to successfully build, launch, scale, and manage technology products. But at a certain point, you may be asked to do something that takes a whole new set of skills — manage people. In doing so, you'll need to be adept at recruiting, training, developing and mentoring Product Managers. But making that transition isn't so straightforward. In this discussion, we dig into all of this — and will make time for your questions as well!

1. A newsletter each and every Friday centered around an important product topic, like roadmapping, strategy, and analytics.
2. Access to a thriving Slack group with thousands of others to share advice, tips and get feedback on your work.
3. Plus, invitations to exclusive video chats, special member privileges at the conferences we hold in the United States and Europe, and more!