Why product management fails upload version
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Not every new product or updated version of a product is a success. Product managers can use the same processes, proceeding step by step, yet have different outcomes. In one case they create a market-winning product. In another case, the product is a dud and fails to win over customers. What is going on here? Why does product management and innovation "work" some of the time but not all of the time? More importantly, wouldn't you want to know what you do to increase your success rate - more market winners and fewer duds? This problem is common to organizations, with an average of 4 out of 10 product launches failing. But, product managers can improve their success and the organization's success in the process. And, product managers that can do that receive the rewards that come with greater success and influence. Attend the webinar to understand why product management and innovation fails some of the time and how to decrease failure and increase success.
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Why product management fails upload version
- 1. AIPMM Webinar Series Why Product Management and Innovation Fail and What to do About It
- 2. Chad McAllister Ph.D. – The Everyday Innovator podcast Our Speaker
- 3. Why Product Management and Innovation Fail and What to do About it
- 4. Chad McAllister ‒ ‒Product Management Top 40 Influencer ‒Top 10 Innovation Blogger ‒Author of Turning Ideas into Market Winning Products ‒25+ years product management experience ‒PhD in “Innovation” ‒Creator of the Product Mastery Roadmap ‒Trained product managers at… Host of The Everyday Innovator Podcast
- 5. Topics What is failure? How much failure? Experts say… My exploration via research. Proposed solutions. What is really going on. Real solutions.
- 6. Failure – “Falling Short”
- 7. Failure?
- 11. Failure?
- 12. Failure?
- 13. Failure?
- 14. Failure?
- 15. Failure?
- 16. Failure?
- 17. Was it a Failure?
- 18. Topics What is failure? How much failure? Experts say… My exploration via research. Proposed solutions. What is really going on. Real solutions.
- 19. What Percentage of Products Fail?
- 22. What Does this Mean? Annual revenue: $10M
- 23. What Does this Mean? Annual revenue: $10M 40% from new product: 4M
- 24. What Does this Mean? Annual revenue: $10M 40% from new product: 4M Assuming 0% failure, not 40%: 6.67M
- 25. What Does this Mean? Annual revenue: $10M 40% from new product: 4M Assuming 0% failure, not 40%: 6.67M Assuming 20% failure, not 40%: 5M
- 26. What Does this Mean? Annual revenue: $10M 40% from new product: 4M Assuming 0% failure, not 40%: 6.67M Assuming 20% failure, not 40%: 5M Cutting failure rate in half => 10% greater Annual revenue
- 27. “New Product Failure Rates” http://goo.gl/M88dA5
- 28. Topics What is failure? How much failure? Experts say… My exploration via research. Proposed solutions. What is really going on. Real solutions.
- 29. What Experts Say “How companies can do everything ‘right’ and yet still lose their market leadership.”
- 30. What Experts Say Outcome Driven Innovation
- 31. Tony Ulwick and Clay Christensen Outcome Driven Innovation Source: Wikimedia Commons
- 32. What Experts Say
- 33. Why Product Management Fails www.theeverydayinnovator.com/106
- 34. Why Product Management Fails www.theeverydayinnovator.com/106 1. What is a need
- 35. Why Product Management Fails www.theeverydayinnovator.com/106 1. What is a need 2. What the needs are
- 36. Why Product Management Fails www.theeverydayinnovator.com/106 1. What is a need 2. What the needs are 3. Which needs are unmet
- 37. Why Product Management Fails www.theeverydayinnovator.com/106 1. What is a need 2. What the needs are 3. Which needs are unmet 4. Identify segments
- 38. Topics What is failure? How much failure? Experts say… My exploration via research. Proposed solutions. What is really going on. Real solutions.
- 39. My Research Why are product outcomes inconsistent?
- 41. Topics What is failure? How much failure? Experts say… My exploration via research. Proposed solutions. What is really going on. Real solutions.
- 43. Proposed Solutions Idea-Management System Outcome-Driven Innovation & Jobs-to-be-Done Blue Ocean Strategy & Value Innovation A-to-F Model IDEO’s Deep Dive & Design Thinking Crowdsourcing & Open Innovation Customer Development Methodology & Lean Startup
- 44. LEGO
- 45. History, Culture and Capabilities.
- 46. Review What is failure? Falling short How much failure? Around 40% Experts say… Customer needs My exploration via research. Missing requirements Proposed solutions. Numerous methodologies
- 47. Topics What is failure? How much failure? Experts say… My exploration via research. Proposed solutions. What is really going on. Real solutions.
- 48. What’s Really Going On
- 49. Proposed Solutions Idea-Management System Outcome-Driven Innovation & Jobs-to-be-Done Blue Ocean Strategy & Value Innovation A-to-F Model IDEO’s Deep Dive & Design Thinking Crowdsourcing & Open Innovation Customer Development Methodology & Lean Startup
- 50. What is Really Going On
- 51. What is really going on.
- 52. What is really going on.
- 53. A Real Case Study Process, not Reasons
- 54. A Real Case Study “We have product management processes, but we didn’t have the knowledge to understand the reasoning behind the processes. We also didn’t see the big picture – how our work connects to the business. Know we do.”
- 55. Topics What is failure? How much failure? Experts say… My exploration via research. Proposed solutions. What is really going on. Real solutions.
- 56. Real Solutions
- 57. Real Solutions • Innovation Strategy • Enabling Culture • Ideation Framework • Ideation tools • Business Case Fuzzy Front End / Ideate
- 58. Real Solutions • Customer Needs • Project Planning • Project Execution • Beta Test • Revision Preparation Product Development
- 59. Real Solutions • Launch Planning • Launch & Growth • Mature • Decline • Retire Life Cycle Management
- 61. How a $10M business adds $1M revenue Annual revenue: $10M 40% from new product: 4M Assuming 0% failure, not 40%: 6.67M Assuming 20% failure, not 40%: 5M Cutting failure in half => 10% greater Annual revenue
- 63. eCourse closing Jan 23rd www.theeverydayinnovator.com/idea
- 64. Q & A Session Ask questions. Our team is standing by to help. The webinar slides will be posted to our website and our http://www.Slideshare.net/aipmm The webinar recording will be posted at http://www.AIPMM.net for members
- 65. Upcoming Webinars WWW.AIPMM.COM/AIPMM_WEBINARS AIPMM Webinar Series: http://aipmm.com/aipmm_webinars Topic Suggestions: support@aipmm.com Announcements: http://www.aipmm.com/subscribe LinkedIn: http://www.linkedin.com/company/aipmm Membership: http://www.aipmm.com/join.php Certification: http://aipmm.com/html/certification/