Product Management In Tough Times
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Transcript of Product Management In Tough Times
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Product Managementin Tough Times
Ryan McMahonDirector Product ManagementRNA networks Inc.
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About RNA
•Early stage - 3 year old company,
•IT product – memory virtualization
•Markets – Financial services, Oil & Gas, Cloud Computing, High Performance Computing
•Customers – Several customers, significant opportunity funnel
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Impacts on Startups
•Hard to build a reputation
•Harder to find customers
•Deliver more product with less resources
•Must get more from customers
•Harder to recover from mistakes
Forces Focus!
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Customers’ Mindset
•More conservative
•Must get more from existing investment
•Decisions are clearcut
•Still must look forward
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Customers’ Mindset
•Financial Services – still buying but need clear ROI
•Oil & Gas – decreasing oil prices drives investment in research and exploration
•HPC – commodity HW horsepower is driving adoption of HPC in other verticals
•Cloud Computing – emerging, requires agility, improvements in utilization
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What We’re Trying
•Finding customers – innovators & early adopters
•Focus on “must-have” products / solutions
•Drive to decisions fast – yes or no
•Intimately understand the customer and their problems
•Understanding economic benefits
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Understanding the Customer Means
7
Customertechnical problems
Customerdifferentiatio
n
Alternatives considered
Customer business models
???
Org chart
Their IT budgets
Indirect product benefits
ITenvironment
Direct product benefits
Customerbusiness problems
How they purchase
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Reaching Customers
•Creative outreach▫Interest groups – join, create, participate▫LinkedIn, Facebook▫SEO – searching is up!
•Proof of Concept engagements▫Prove the value▫Drive to purchase decisions
•Brute force ▫Traditional marketing▫Networking
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Opportunity
•Little new competition
▫No new entrants
▫Few expeditionary products from existing players
•Customer willing tolook harder for value
•Window to establish newproducts / new companies