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PRODUCTHEAD: Should you do custom features for paying clients?

Product models are more scalable and have higher investor valuations than service models, but can be difficult to implement and require a longer sales cycle.
If your team is biased towards custom features, refocus on discovery and problem-solving for better outcomes.
Accepting work for paying clients can provide additional runway but may lead to customer-driven feature priorities.
Building custom features for one client can impact prioritization, cause delays, and distract from the product vision.
Balancing between custom features and standard product development can create hidden overheads and detract from profitability.
Focusing on discovery and problem-solving is crucial for product companies to avoid falling into the 'agency trap'.
Transitioning between product and service models can pose challenges, and operating both models simultaneously may have downsides.
Contractual obligations to deliver custom work can influence product roadmap, affecting overall user base and profitability.
Introduction of product management in agencies focused on custom work can help address user needs and enhance delivery.
Maintaining balance between delivery and discovery is essential for sustainable product development.

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Medium

177

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Scrum Masters Don’t Need to Be Technical — They Need to Be Product-Savvy!

The debate on the technical competencies of Scrum Masters is ongoing.
One group believes technical knowledge is essential for a Scrum Master, while the other disagrees.
A third option suggests a balance between technical and other skills.
The origin of this debate can be traced back to the rise of agile approaches.

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Medium

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I Always Wanted to be a D̶o̶c̶t̶o̶r̶,̶ L̶i̶b̶r̶a̶r̶i̶a̶n̶,̶ ̶P̶e̶r̶f̶o̶r̶m̶e̶r̶,̶ ̶ oops, I became…

The author reflects on childhood dreams of becoming a doctor, which changed after struggles with organic chemistry, leading to pursuing a Master’s in Library and Information Science.
Library work involved early tech innovations like putting card catalogs 'in the cloud,' providing a foundation for future product management skills.
Working in various libraries unknowingly built the author's toolkit for product management, focusing on information architecture and accessibility.
Transitioning from libraries to comedy, the author spent a decade building an improv theater and school, further honing product management skills.
Joining an edtech startup in 2020 marked the author's official role as an 'Accidental Product Manager,' utilizing previous experiences to tackle product challenges.
Applying library science knowledge to an edtech setting, the author approaches content organization from a human-centered perspective rather than relying solely on AI tools.
The author's diverse background proves beneficial in product management, allowing for a unique perspective to bridge technical capabilities with human needs.
Embracing a non-traditional path, the author finds strength in asking 'stupid' questions and translating between different disciplines, like in improv scenes.
The author demonstrates that unconventional experiences can be a competitive advantage in product management, highlighting the value of diverse skills and perspectives.
Success in product management is attributed to embracing individuality and diverse experiences, rather than conforming to a predetermined path.

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Medium

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Why Do Some Succeed While Others Stay Stagnant? The Secret No One Tells You!

Success starts from within, from the way you think. Successful people have a success mindset where failure is seen as a lesson and every experience is an opportunity for growth.
Discipline is crucial for success as motivation tends to fade over time. Successful people stick to daily habits and routines that drive them towards their goals.
Time utilization is key to success. Successful people invest their time in learning and self-improvement, while stagnant individuals waste time on unproductive activities.
Creating a supportive environment is important for success. Surrounding yourself with positive, like-minded individuals and avoiding negativity helps in personal growth.

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Lenny's Newsletter

167

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How much product managers make in the U.S., Europe, and Canada

Exclusive salary benchmarks for product managers in the U.S., Europe, and Canada are provided in the article.
Data from over 23,000 product managers globally is analyzed for compensation insights.
In the U.S., the median starting base salary for a PM at a public company is $112,000, while at a private company it is $96,000.
Senior IC PMs can earn up to $1,000,000 in total compensation, with CPOs hitting $1,425,000.
Moving from a Tier 3 U.S. city to a Tier 1 city can increase salary by 20%.
Salary disparities between public and private companies exist, with base salaries being lower at private companies.
In the U.K., PMs earn 65% of what a U.S. PM earns, while the average European PM makes less than 50% of a U.S. PM's salary.
Key takeaways include salary differences based on company type, location, and level within the organization.
Levels of seniority are mapped to titles such as Entry, Mid, Senior, Manager, Director, VPE, and CPO.
The article delves into base salary, equity, and total compensation comparisons, offering valuable insights for PM professionals.

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Logrocket

199

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Margin of error vs. confidence intervals for data-driven decisions

Usability testing involves understanding concepts like margin of error and confidence intervals, which are crucial for making data-driven decisions.
Margin of error indicates the level of uncertainty in sample results compared to the true population value, influenced by factors like sample size and data variability.
Confidence level, margin of error, and confidence intervals are essential testing concepts that determine the reliability of results and decision-making.
Higher confidence levels increase precision but also widen the margin of error, while larger sample sizes decrease the margin of error for more accurate results.
Bias in data collection can lead to unreliable results, emphasizing the need for random sampling and avoiding skewed representation of the population.
Adjusting sample size plays a crucial role in reducing the margin of error, with larger samples providing more reliable outcomes at the cost of additional resources.
Practical tips for maximizing usability testing reliability include using sample size calculators, reporting results transparently, focusing on critical metrics, and leveraging iterative testing.
Balancing resources with accuracy is key in data-driven decisions, where understanding key concepts like margin of error and confidence intervals is essential for informed choices.
Transparent reporting of results, consideration of confidence levels, and attention to sample sizes are critical factors in achieving reliable and actionable insights from usability testing.
Usability testing best practices involve prioritizing key metrics, experimenting with different sample sizes and confidence levels, and iterative testing to refine findings efficiently.
Ultimately, a comprehensive understanding of usability testing concepts and their practical implementation ensures improved decision-making and reliability in data-driven approaches.

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Medium

10h

161

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The Future of Product Management in the AI Era: How to Stay Ahead in 2025

Product Managers in the future must understand how AI works, its limitations, and its ethical implications.
AI won't replace Product Managers, but those who use AI will replace those who don't.
With AI-powered no-code tools, PMs will be able to build, test, and launch products faster without coding.
The future of Product Management is about AI-driven personalization and hyperautomation.

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9 Likes

Medium

11h

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Bulk Product Sync (BPS) with Google Sheets: Introducing New Taxonomy Support!

Bulk Product Sync (BPS) with Google Sheets has introduced new taxonomy support.
With this update, you can easily assign and manage taxonomies for WooCommerce products directly from Google Sheets.
The taxonomy support allows you to add, update, or remove categories like brands or custom fields.
This new feature streamlines product management and provides more control over organizing and updating your WooCommerce store.

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2 Likes

Medium

11h

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Restructuring (IT) organisations and development processes

IT governance and the associated IT organization are often not involved in the growth of a company.
The IT organization needs to be synchronized with the entire organizational structure for agile principles to work.
Scott Ambler and Mark Lines published the book 'Choose Your WoW! A Disciplined Agile Delivery Handbook' which focuses on optimizing the way of working.
A customized approach is necessary to combine the tools from different models and suit the organization's needs.

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Medium

12h

255

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On the road to somewhere?

Implementing agile methodologies like Scrum can initially lead to progress, but may become slow and burdensome as the project complexity increases.
Transitioning to a more flexible approach, such as Scrumban, can help balance work estimation and workflow without strict time constraints.
Adopting a full-stack developer model and forming teams based on development needs can reduce overhead and dependencies.
Challenges arise from interruptions and context switching, leading to uneven progress and dissatisfaction within the team.
Addressing key people's constant context switching by prioritizing their focus and limiting interruptions can improve productivity.
Dividing work into three separate buckets - innovating, maintaining customer satisfaction, and addressing breakdowns - can provide a structured approach to managing tasks.
Rotating people between buckets at set intervals allows for a balanced focus on different aspects of service development and enhances team experience.

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15 Likes

Medium

12h

284

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The corporate strategy challenges the “requirements-first-model”

A requirement never exists in isolation, but is embedded in a higher-level framework: the corporate strategy.
Strategic requirements can conflict with product requirements, making it difficult to implement a product.
Decisions made by top management can have an unconscious negative impact on the product’s performance.
The challenge for product managers is to identify and incorporate strategic influencing factors into the requirements definition.

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Medium

12h

What Responsibility Does a Software Product Manager Have for Cybersecurity?

A software product manager is responsible for understanding the necessary security aspects for the target audience.
Collaboration with security stakeholders, software architects, and security officers is crucial.
Early planning and integration of security aspects into development can prevent costly retroactive implementation.
Compliance with GDPR is an essential part of cybersecurity.

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Medium

12h

253

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The Product Alchemy: Mixing Roles, Frameworks and Tips to Elevate Your Game

Every successful product starts with a clear vision, acting as the North Star for all decisions and aligning the team towards a common objective.
Tools like SWOT analysis and Lean Canvas aid in defining the product vision in its initial stages.
Being a 'servant leader' involves focusing on removing impediments for the team and creating a safe space for experimentation.
Liberating Structures can make meetings more engaging and productive by encouraging participation and collaborative problem-solving.
Business Analysts play a crucial role in understanding user needs, gathering requirements, and translating them into actionable insights.
User stories in the 'As a... I want... So that...' format help capture user needs effectively.
Design Thinking workshops and involving stakeholders can lead to innovative solutions by understanding hidden needs.
Quality Assurance professionals ensure quality is built into the product from the beginning, with a proactive approach to minimize defects.
Championing quality throughout the product lifecycle and practicing shift-left testing is essential for QA professionals.
Agile principles and the Scrum framework emphasize iterative development, collaboration, and customer feedback.

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15 Likes

Medium

13h

341

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The Comeback of Offline Stores: Should Online Sellers Go Brick-and-Mortar?

Offline stores are still thriving while e-commerce sellers face challenges.
Physical stores account for over 75% of total retail sales globally.
Reasons for the resilience of offline stores include trust, experience, instant gratification, rising digital costs, and omnichannel advantage.
Online sellers should consider opening a physical store if they have a strong community, product line that needs trying, high ad costs, and long-term vision.

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20 Likes

Medium

14h

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Is Database Administration a safer career choice than Product Management?

Product managers often face frequent restructuring and market shifts, making the role unpredictable.
Database administrators manage, secure, and optimize critical data systems, making them indispensable.
Demand for DBAs remains strong as businesses increasingly rely on data.
DBAs have a clear career path and are less vulnerable to budget cuts compared to product managers.

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