ProductCamp London: Why product managers and entrepreneurs need to be more alike

Whether you’re part of a large, established company or a small, new start-up venture, you need to think like an entrepreneur if you manage products.  Here’s a round-up of some of the presentations and discussions I attended at London’s recent ProductCamp, with links to the slide decks and recommended reading where applicable.

Summary of advice:

  • Know your product, market, company, self: you need to go into your new venture / product management role with your eyes and ears open (via @cathyma)
  • Keep validating your business case: a business case will evolve over time, you need to continue to check your assumptions throughout the process, in parallel with development (via @SaintSal)
  • Learn how to influence others: whether they’re your investors, senior managers or other key stakeholders, convince them your approach is right through hard evidence and diplomacy (via @PaulLomax)

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Pre-empting customer churn

How much would you invest to prevent a mass customer exodus?  Everything Everywhere, the merged T-Mobile / Orange behemoth, was happy to spend £150 per customer to shore up its customer base following the post-merger restructuring.

What did it gain?  A reduction in monthly churn from 1.7% to 1.3%, significant given their customers number well into the millions, plus an additional 300,000 customers locked into long-term contracts in place of short-term pre-pay contracts.

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