The single most important goal you can set for yourself in starting a business, in everyday operations, and in growth planning...Focus.
A simple guide to success...Focus.
No question it is tempting to pursue or explore every interesting idea and business opportunity. "look at this verticle..." "If we work with this partner..." and on and on...
While you may see potential - it is not an opportunity until you have done your due diligence - which takes time. Research and planning - like the kind that went into developing your business plan (right??) helped you align your verticals, and the market opportunities. It doesn't hurt to remind yourself of what you are doing and why on a regular basis. You are creating your business to answer to a need in the marketplace. You created your plan to address the need with the best approach given all the available information. "XYZ" strategy is the best path to reach the goals. Ask yourself - "does such and such an idea help me reach our goals within our strategy?"
The reality is - bird walking of that nature takes us off track and keeps us from accomplishing our goals in a timely fashion. Practice saying "no!" and appreciate that nothing is forever, including "no." It's empowering to reinforce your goals by staying focused - by making a choice to stay focus. Then remember that no can simply mean - "not yet!"
It is easier to stay focused if you know what you want from the start. So make sure you set goals with achievable milestones to keep you on track. Instead of saying - I want this business to reach the stars, start with "In the next 6 months I want to see 10% growth in earnings." Then write down where you stand at the moment -so you have a clear idea of where you are going.
By Scott Sehlhorst | January 24th, 2006
brought to you courtesy of Tyler Blain
They key to writing a great spec is knowing how to specify software that mets our customers’ needs.
It can be a daunting task. First, we have to define what our customer needs. High level requirements are just requirements that are too vague or high-level to be directly actionable. “We must reduce our cost of fullfilling orders by 20%” is a high level requirement. We can’t start writing code with only that information. In an early post, we talked about functional requirements being written at the right level – don’t confuse the level of clarity required for writing a functional spec with that required to define goals.
A market requirements document (MRD), as we discussed earlier, discusses the problems (to be solved) or the needs of the market. When working with a customer, that customer will identify one or more strategic objectives.
As an aside – this case study demonstrates use of the OST (objectives, strategy and tactics) approach to initiating and managing projects. Check it out for context. You can just skim the bold parts in the OST sections if you want to stay on topic with this post.
The question is – How do we get from an MRD to a great PRD?
A product requirements document (PRD) captures the capabilities of the software in order to address the market needs. From these key capabilities comes the design of the software. How do we get from needs to ideas?
This is an ideation task. A product manager must apply high level design skills when writing the specification. Haven’t we said repeatedly that requirements should not describe the implementation or design? Yes. Previously, we talked about the importance of asking why, this is the same issue, approached in the other direction – starting with the why and askinghow.
We’re not talking about specifying implementation details – just articulating capabilities. Here is a list of “market need : product capability” that demonstrate the transition from MRD to PRD.
Organizing, validating, and prioritizing these capabilities is the hard part. The output of this effort is a PRD. A product roadmap (a vision of what a product will be capable of doing, over time) is another potential output.
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