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Mind the Product

Product Management

Your data may be discounted: This week’s product news

Guest Post

Building lean and asynchronous processes

B2B product management

Artificial Intelligence (AI) & Machine Learning (ML)

Building Product Teams

Business Strategy

Data Driven Product Management

Digital Transformation

Diversity and Inclusion

Minimum Viable Product

OKRs

Prioritisation

Product Design

Product Research

Product Development Process

Product Ethics

Product Discovery

Product Leadership

Product Management Career

Product Strategy

Stakeholder Management

🌎 <a href="https://www.mindtheproduct.com/world-product-day/" style="color:#FFFFFF;text-decoration:underline;">Happy World Product Day!</a> Be sure to celebrate product, yourself, and your peers today! 🎉

How much are product managers getting paid in 2024?

Leading product ops at Delivery Hero with Koen Dubelaar

Connecting fans to creators at Spotify (Dariusz Dziuk, Product Lead, Spotify)

“You’re not as competent as you think” 5 lessons from Ken Chin on navigating a product career (CPO, Spark Networks)

Everything wrong with the product management job market. And how to fix it

Ed is a Product Manager at TheFoodMarket.com, an online marketplace helping indepdant food merchants reach a larger audience. Volunteering with MindTheProduct since 2012, Ed can be found assisting at numerous events, offering his insight around connecting technology, customers and business.

Edward Kendall

<p>In this November 2020 <a href="https://www.mindtheproduct.com/mtpcon/digital" target="_blank" rel="noopener noreferrer">#mtpcon Digital</a> keynote, Asha Haji, Co-Founder and COO and <a href="https://foundersacademy.io/" target="_blank" rel="noopener noreferrer">Founders Academy</a> shares her recent experience of a pivot. She talks about what drives a pivot, how to decide what to pivot to, and how to manage your pivot once it&#8217;s started.</p>
<p>Watch the video to see the talk in full. Or read on for an overview of Asha&#8217;s key points:</p>
<h2>The Drivers of a Pivot</h2>
<p>To begin the talk, Asha asks the question: “What are the key drivers of a pivot?” and provides three possible reasons:</p>
<ol>
<li>The business can’t achieve growth fast enough</li>
<li>The business is being pulled in a new direction</li>
<li>The market&#8217;s circumstances have changed</li>
</ol>
<h2>Deciding What To Pivot To</h2>
<p>If your circumstances require a pivot then you need to decide what your product will pivot to. Asha provides the following six steps:</p>
<ol>
<li><span style="font-weight: bold;">Check your indicators:</span> Is what you’re experiencing a temporary blip or is it a trend?</li>
<li><span style="font-weight: bold;">Brainstorm options:</span> It’s important to think about the problems you want to solve before you jump into solutions.</li>
<li><span style="font-weight: bold;">Analyse the business model:</span> You need to test your possible models to see if they are desirable, viable, feasible, and exciting.</li>
<li><span style="font-weight: bold;">Run low-cost experiments:</span> Validate your riskiest assumptions with your customers.</li>
<li><span style="font-weight: bold;">Conduct a pivot pre-mortem:</span> Perform a risk assessment on each of your possible outcomes.</li>
<li><span style="font-weight: bold;">Make a decision:</span> Document your assumptions and commit to the pivot.</li>
</ol>
<h2>Managing Your Pivot</h2>
<p>Once you’ve decided you need to pivot and what you’ll pivot your product to, you need to decide:</p>
<ul>
<li>What to keep the same: Evaluate which parts of the product translate to the new vision</li>
<li>What to change: Repurpose existing assets to match the new vision</li>
<li>What to leave behind: Not everything in your product will match your new direction, you&#8217;ll need to remove some features, and possibly even lose some of your team</li>
</ul>
<p>Asha goes on to say that pivots can be very emotional and that the people in your company may feel scared by uncertainty and unsettled by change. Pivots require real leadership so take care to be clear about the new direction, and be extremely communicative.</p>
<p>Asha provides some tips on how to be a great product leader during a pivot:</p>
<ol>
<li>Prevent the team from setting unnecessary constraints.</li>
<li>Provide insights from data analysis and running rapid product experiments.</li>
<li>Be a strong connector. Bring people together around a new vision.</li>
</ol>
<h2>Be Brave and Be Strong</h2>
<p>To close the session, Asha explains that if you’re currently in the process of pivoting you should:</p>
<ul>
<li>Be brave! Taking no action when your company should be pivoting is the worst outcome.</li>
<li>Be smart! Pivoting your business is a massively disruptive activity. Approach it with a cool head and discipline.</li>
</ul>
<h2>Discover More on Pivots</h2>
<ul>
<li><a href="https://www.mindtheproduct.com/pivot-isnt-4-letter-word-sunil-parekh/" target="_blank" rel="noopener noreferrer">Pivot Isn’t a 4-Letter Word by Sunil Parekh</a></li>
<li><a href="https://www.mindtheproduct.com/the-impact-of-covid-on-product-managers-and-the-products-they-build/" target="_blank" rel="noopener noreferrer">The Impact of Covid on Product Managers and the Products They Build</a></li>
<li><a href="https://www.mindtheproduct.com/video-is-purpose-the-new-pivot/" target="_blank" rel="noopener noreferrer">Is purpose the new pivot? by Tom Hulme</a></li>
</ul>

core/freeform

Product Management Conference

Product teams in flux – Pendomonium+#mtpcon roadshow: Berlin

AI in practice at Berlin’s leading companies – Pendomonium+#mtpcon roadshow: Berlin

AI in practice at Amsterdam’s leading companies – Pendomonium+#mtpcon roadshow: Amsterdam

Product teams in flux – Pendomonium+#mtpcon roadshow: London

AI in practice at London’s leading companies – Pendomonium+#mtpcon roadshow: London

What’s next for product management in 2024? Nichole Mace (SVP Product and User Experience, Pendo)

Perspectives from an unconventional CPO – Yuelin Li (CPO, Onfido)

The future of product management – Trisha Price (CPO, Pendo)

The future of product management in 2024 and beyond (Brian Walsh, SVP Product, Pendo)

The Anatomy of a Pivot by Asha Haji

Edward Kendall