TLDR Product Management 2024-06-11

Apple Intelligence is right on time 🍎, growth or profitability πŸ“ˆ, project vs product fundingπŸ’°

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News & Trends

Why pricing and packaging matters more when launching your second product (6 minute read)

Expanding your product suite is crucial for sustainable growth. Understanding pricing shifts with new launches accelerates product-market fit and captures value, supporting continued scaling.

Apple Intelligence is right on time (14 minute read)

Apple's WWDC keynote unveiled extensive generative AI features branded as "Apple Intelligence" and a significant partnership with OpenAI. Despite the excitement around these AI advancements, Apple's careful and integrated approach ensures it remains competitive in the evolving tech landscape, leveraging its strengths in device-making and ecosystem control.
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Opinions & Tutorials

How to fix the Double Diamond of design thinking (5 minute read)

The Double Diamond model, a visual for design thinking, lacks iterative feedback loops and ends prematurely with product launch. Redefining phases to β€œExplore, Ideate, Test” and incorporating continuous discovery alongside delivery resolves these gaps for effective product management.

Growth or profitability? (8 minute read)

There is often a trade-off between growth and profitability, with their relative importance varying over time. A balanced approach is typically best. When growth slows below 50% year-on-year, focus on achieving breakeven or profitability.

How to improve your voluntary churn (5 minute read)

To reduce churn in subscription businesses, understand the reasons behind customer cancellations and monitor their timing. Provide an easy option to reactivate auto-renewal, utilize discounts, and offer the option to pause subscriptions. Point out what users will lose if they downgrade from a paid subscription.
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Resources & Tools

How Duolingo sets OKRs (2 minute read)

A slide showcasing Duolingo's OKR best practices.

How to spot good case studies (4 minute read)

Understanding products and markets through effective case studies enhances decision-making for product leaders. Good case studies provide detailed context about user needs, industry dynamics, product development, and internal factors, while poor ones can mislead if overly simplistic or biased. Avoid sources that lack depth or are entertainment-focused.

Project vs product funding (6 minute read)

Funding software as a product rather than a project is more effective and cost-efficient in the long run. Product-based funding ensures continuous updates, user engagement, and avoids the pitfalls of the outdated project model commonly used in government.
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Miscellaneous

ChatGPT transformed my backyard (4 minute read)

The effectiveness of AI tools depends on the quality of your prompts. By thinking outside the box and trying various prompts, you can uncover innovative solutions and enhance your projects. Instead of sticking to predefined searches, experiment and find the optimal approach for your needs.

Cognitive biases you don't think about (6 minute read)

We consider ourselves logical, but our choices are often less rational than we think. Context, fallacies, and personal experiences influence our decisions subconsciously. Complete objectivity may be unattainable, but recognizing these cognitive errors can help.
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Quick Links

Why you need a PM portfolio (3 minute read)

PM portfolios are a game-changer for both job seekers and hiring managers, offering a more authentic and comprehensive view of a candidate's work and capabilities than traditional resumes or interviews.

Factors that drive prioritization (1 minute read)

The 2024 State of Product Management Report by ProductPlan highlights the factors that drive prioritization (customer needs/wants, company goals, internal requests, competition).
Curated deep dives πŸ’‘, trends πŸ“ˆ, and resources πŸ› οΈ for effective product managers
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