Managing Product Portfolio
Managing Product Portfolio

Managing Product Portfolio

Start by reading this article based on what you do. You can be an Entrepreneur, a Team Member or Corporate Personnel.

Product Management is not today’s terminology. It has been in existence since the beginning of mankind. What happened is that the scale and magnitude of Product Management has changed since its inception.

Either you are having your own startup or Managing a team in a corporate setting, or you are a Team member wanting to excel; in today’s context it is very important to understand the big picture and operate in such a way that you create a differentiation for yourself.

With my experience and learning’s, I found Luis Gallardo‘s Six R’s is a very practical approach to Product Management in today’s context.

– Reason
– Revenue
– Rousers
– Reputation
– Relationship
– Resilience

Reason – As a Product Manager you need to understand the big picture of the Product you are developing. Your end user, Vision, Mission and what problem you are solving.

Revenue – Without understanding the revenue model of your Product, you cannot do justice. And when you understand the revenue model, you not only get better at bringing your product to life, you also are better equipped to handle the down-times.

Rousers – A key acumen of Product Management. You as the Product Leader, must understand and align your team’s thinking abilities to match that of your organisation. When you do this, you inspire them to take action and build credibility and commitment to the Product.

Reputation – In other words Perception. We like it or not, we live in a perceptive world. For every thing we do we have a positive and negative perception coming at us. As a Product Manager, it is very important to understand and manage the reputation. You should be equipped to be receptive and manage Reputation to better deliver.

Relationship – Managing Relationships is the way of life – be it at home, work or society. The better you manage people around, the better is the quality of life. Look at all the successful people in the world, they prioritised people. Only then you win. There is nothing in this world which you can achieve alone. Accept the fact, downsize ego and look at how the results are. They will be addictive.

Resilience – The outcome of all the above 5 R’s. You will have success, you will have downtime’s and you will have devastating times. What makes you is the ability to learn during all these times, get accustomed to the situation and time. Utilise your success times to plan for the downtime’s. During downtime’s, prepare for the success.

All of us want to win, but only a few of us prepare to win.

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