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“Product Kondo”: A Guide To Evaluating Your Organizational Product Portfolio
- When building digital products, the focus on single features and urgent client needs can lead to a large, high-maintenance product portfolio that may not align with core customer segments or long-term business strategy.
- This article introduces the concept of conducting a "Product Kondo" exercise on your product portfolio, inspired by Marie Kondo's approach to organizing and decluttering.
- It emphasizes the benefits of simplifying and organizing large legacy product portfolios to reduce maintenance costs, align with business strategy, and prioritize customer-centric solutions.
- The article presents a case study of a global organization that underwent a portfolio clean-up, outlining the challenges faced and the steps taken to streamline and prioritize the product portfolio.
- Key steps in the "Product Kondo" exercise include defining user segments, auditing the current portfolio, establishing evaluation criteria, and ensuring stakeholder buy-in.
- Through workshops and visualization tools like Miro boards, the organization categorized and prioritized items in the portfolio, achieving a 67.8% reduction in the number of items post clean-up.
- The exercise highlighted the importance of categorization, stakeholder involvement, and transparency in decision-making to streamline the product portfolio and prepare for future growth.
- The article stresses the significance of shared terminology, correct categorization, and ongoing strategic alignment to ensure that the product portfolio serves both user needs and business goals effectively.
- By conducting a comprehensive portfolio clean-up and involving teams in the transformation process, organizations can become more agile, prioritize strategic initiatives, and adapt to changing market dynamics.
- The article suggests starting with smaller clean-up efforts if full portfolio restructuring is challenging, emphasizing the continual evaluation and alignment of products with user segments.
- The ultimate goal of the "Product Kondo" exercise is to create a leaner, more customer-focused product portfolio that drives growth and innovation while aligning with the organization's strategic objectives.
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