I like simple. Especially in a complicated, hectic world. Here is a checklist in which I have collected all the basic questions a product manager should be able to answer. The list contains all the angles, or most of them, you need to investigate in order to go from product idea to product selling and making money.
It is a long process, even if brilliant entrepreneurs can think it through in their heads, it still need to be put in writing in:
- Business plans
- Marketing plans
- Product description leaflets
- Sales training
- etc
Who is our customer
What in their situation needs to be resolved?
How shall we solve it? Give an overview
- In the short term
- Long term
Goals
- What are the short-term and long-term goals for our business?
- What kind of organization do we have?
- Who are the ones to run this? What capabilities do they have?
- What kind of company do we have now?
- What kind of shape do we want to be when we are successful?
Reaching customers
How should we get in touch with our customers and sell to them
Describe “the funnel”
Product
Describe the features of the product
Describe any features needed to be added to make the minimum viable product
For each feature, describe its benefits.(How it will solve the situation of pain identified earlier)
Ie The product has ….. This is good because it will …….. Which means your problem will be solved by……..
Communicating to customers
What should we say to customers about us?
Mission Statement: Lay the groundwork for your ‘brand promise’ in a one or two paragraph description of what your company will be to its customers.
Helping customers choose us
What other opportunities do our customers have?
Why should they choose us?
What are our unique selling points?
Delivering to customers
How do we go from offer to cash?
- Production
- delivery
- Payment
- Support
Taking care of business
Making money to pay costs
What are our Main revenue streams (Take all products and services)
What are our Main costs
Key people: who are they, what are their roles?
Being Effective and efficient
- How should we most effectively get what we have to sell into a product?
- How should we get our products most effective in front of customers?
- How should we convince the customer to buy?
Stephen Hinton Consulting 