Results & Ownership

What it is

Following through to ensure that things get done and, more importantly, that the anticipated benefits are delivered. But if the minimum value is not delivered, true ownership means that you iterate to ensure ROI or pivot.

Why it's important

• As a business, we can't rely on simply shipping product -- we need to know that it's actually delivering ROI, quantitatively
• The product manager is entrusted with scarce (and expensive) resources, our brand, and the customer's expectations
• Without demonstrated ROI, the product manager is at best a project manager and at worst a liability

When you need it and how to do it

• Research: Pay attention to (and dive deep on) the magnitude of the problems and opportunities you observe.
• Definition: Define the magnitude of the expected benefit based on your assessment of the magnitude of the problem / opportunity -- and how it should be measured.
• Design: Validate (through testing, interviews, etc.) that the solution will deliver the expected benefit -- and to the desired magnitude.
• Dev: Put together the mechanisms for gathering the data to track ROI.
• Release: Deploy the mechanisms for gathering the data to track ROI, and start the cadence of reporting on ROI.
• Assess: Monitor, report, iterate, validate, and when the judgment day arrives, make the hard decisions.
• Product KPI tracking: Your business outcomes should be quantified by comprehensive data.

Resources

• The Goal
• Extreme Ownership (Chapter 1)

The competency

You are willing, proactive and effective at seeing your work through. You get started and create a path forward with minimal direction -- you see yourself as the leader. Although you are good at knowing when/how to delegate, you are not satisfied with passing the buck. You take responsibility for all outcomes relating to your work, you ensure quality, and do the right thing for the users, for the business, for your team, and for the product.

Outputs and deliverables

The product manager is on the hook for ROI. Monitoring and iterating on learnings are key to maximizing ROI and minimizing loss. The product manager demonstrates this accountability to the product, design, dev, product marketing, support, and exec teams. The aim is a way to clearly measure whether the product is moving toward the vision, whether it has the appropriate adoption, and whether it is generating the expected business value. This includes managing a P&L (even if it's estimated).

• Product KPIs. Definitions, goals, and data showing progress toward goals. Published, for measuring ROI of the product (vision, quality, adoption, economics).
• Product metrics. Definitions, parameters, and data showing status.
• A balanced P&L. Revenue, costs, and net over time, tracked monthly and specific to the product.
• Proactive steps toward gathering feedback (on the product, direction, team, etc.) and taking action on the feedback

Outcomes

• Improved product KPIs over time
• Adjustments and data-backed improvements as a result of feedback and action
• A P&L that shows profitability or a trend toward it