Accelerating Growth-Stage Companies
Growth-stage companies are at a different phase and have a different set of challenges. Typically, a growth-stage company has an established Product Management function with senior leadership.
Examples of Typical Business Challenges at Growth-Stage Companies
Finding New Sources of Revenue
THE CHALLENGE: After years of product/market fit with an initial offering, it has become challenging to reinitiate innovation and continue high growth
EXAMPLE ENGAGEMENT: Analyze customer needs, competition, channels, and pricing to develop a compelling product vision and roadmap that focuses activity.
Accelerating Time to Market and Revenue
THE CHALLENGE: The window and market opportunity for a broad offering may outpace the company’s ability to hire and build it all organically
EXAMPLE ENGAGEMENT: Identify and recommend multiple paths for providing a complete offering including a mix of organic development, partnership, resale, and OEM.
Prioritization of Features and Requirements
THE CHALLENGE: Your customers appear so diverse that you feel you are damned if you do and damned if you don’t.
EXAMPLE ENGAGEMENT: Help create user personas and scenarios in order to better identify features that will navigate user conflict more seamlessly. Help write better requirements that address vastly different users in both content (Feature X vs. Feature Y) and also timing (early adopters versus change adverse customers).
THE CHALLENGE: Your customers’ expectations for feature upgrades are faster than you can deliver, and if you don’t do something about it, you will lose market share.
EXAMPLE ENGAGEMENT: Help navigate the business and technical sides of a situation and recommend solutions that can improve top line revenues and decrease costs.
THE CHALLENGE: Adding a second product requires changes at every level of the organization and a shift in mindset within product & engineering
EXAMPLE ENGAGEMENT: Work through all cases where the business is “built around” the first product that must change to balance new growth and retention.
Improving Customer Satisfaction
THE CHALLENGE: Your product's customer satisfaction scores are lower than industry benchmarks.
EXAMPLE ENGAGEMENT: Help with identifying industry benchmarks and measuring your customer satisfaction. Help identify and prioritize the features that will improve your product. Help you get to a place where you can make measured decisions based on the plethora of data available to your product management team.
Decision Making Slows Down
THE CHALLENGE: As the company has grown, additional layers of people and process have slowed the ability to identify and execute on product ideas.
EXAMPLE ENGAGEMENT: Assess the company's strategic communications and decision making structure, and make recommendations for improving communications, information flow, and distributing authority to make decisions.