product management Tag Archives - General Assembly Blog | Page 5

Innovation is a Joke: How companies Can learn Innovation Through Comedy

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Stand-up comedy and business image

A company enters a market, releases a new product and makes tens of millions of dollars. Meanwhile, a stand-up comedian walks on stage, opens her mouth and brings an audience to tears. So, who has the harder job, the stand-up comedian or the company CEO? Who has more to lose? Is it scarier being in front of 500 people and dying on stage, or releasing a product that dies in the market?

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Is The Freemium Business Model Right for Your Product or App?

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freemium business model image

Freemium gets my vote for being the ugliest portmanteau in existence. But despite the unlovely combination of the words free and premium, the freemium business model, which gives away a core product, app, or service, but charges for upgrades, features, and additional space, is hugely popular. When the model works, it can be wildly successful: Think Gaming estimates that the addictive game Candy Crush is raking in $975,000 in revenue a day. But what works well for one product, doesn’t necessarily always lead to success–discover some of the key characteristics of profit-making freemium apps and products to help determine if freemium makes sense for your idea.

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What Open Source Thinking Can Do For You (And You, And You)

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Last month, Tesla CEO Elon Musk announced in a hilariously titled blog post that his company would be removing all of its patents “in the spirit of the open source movement.” And it’s a movement indeed. More and more companies are making the switch to open source thinking, embracing a philosophy of quality and innovation through sharing.

So just what is open source, and what can it do for you and your business?

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Bright Ideas, Big Company: Encouraging Corporate Entrepreneurship

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light bulbs image

CC Image Courtesy of Brian Talbot, Flickr Creative Commons

Companies are sort of like sharks. Just as sharks must keep moving to avoid death, companies must keep growing. But large, well-established corporations often find it difficult to grow organically under an existing business model. Corporations are less nimble than startups, and more averse to risk. Because of reputation and shareholder expectation, they lack the ability to “pivot” the business when a product or idea is not working out as planned.

How can large corporations focus on product innovation in the same way that startups do? Through corporate entrepreneurship or intrapreneurship.

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What It’s Worth: The Essentials of Product Pricing

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Intro to pricing strategy imagePricing a product is a highly important yet deceptively tricky task. Highly important because it can determine how well your product performs on the market, thus laying the foundation for your business’s success. Deceptively tricky because while you might think you have enough experience as a consumer to come up with an appropriate number, the truth is that pricing a product requires a lot more than market comparisons and a hunch.

So what does it take to figure out your product’s worth? Let’s take a look.

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Hacking for change in the healthcare industry

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HackingHealth-NYCTeamAlumni

In May 2014, Shawn Dimantha launched the first US-based chapter of Hacking Health, an organization designed to ignite collaboration between tech creators and healthcare professionals to solve healthcare issues. Shawn has since invited two fellow Product Management graduates on as co-organizers. Together, they’re on a mission to make an impact in health tech. We caught up with Shawn (left) and Frida (middle) to hear their story.

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What Every Product Manager Should Know About Agile Development

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Agile Product Management

Agile product management was first developed as a reaction to various challenges that occurred in more sequential forms of project organization. As technology projects became increasingly complex, many product developers needed to replace their old style of management with a more iterative and flexible one–leaving room to refine long term requirements as the product advanced.

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5 Successful Businesses That Got Huge By Starting Small

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Will this idea germinate into a success?

CC Image Courtesy of Ritesh Man Tamrakar on Flickr

Susan Feldman, cofounder of shopping site One Kings Lane, attributes the company’s success to not aiming to build the next big thing — she recommends “that if you have an idea and you want to do something, starting small is okay.”

Feldman’s advice mirrors the wisdom many companies follow when introducing their product or service to the market: begin by testing interest and enthusiasm with an MVP, or minimum viable product. This “barebones” product has just the necessary features to receive money and feedback from early adopters. Not only will this provide you with constructive criticism from your core audience, but a strong user reception validates moving forward with a product. Look to these five success stories to see how companies have used their MVPs to float their product to the marketplace.

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A Product Manager By Any Other Name: 3 Titles For Product Managers

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Different Names for Product Managers Image

Because product management encompasses a variety of elements, it can be found at multiple levels of development and production, under numerous titles. One survey found as many as 256 unique titles for the role among respondents. Whether you’re looking for work in the field, or wondering if you may already be operating in a related capacity, knowing what they are can be of benefit. Read on to learn a few.

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4 Traits That Every Great Product Manager Shares

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Product management is a role that consists of diverse responsibilities—and therefore requires diverse strengths. Methodical organization, creative thinking, and vision are just a few assets necessary in order to be an effective PM.

This variety is what attracts so many to the field in the first place, and makes their work endlessly interesting and challenging. But it takes a certain type of personality to thrive in this capacity. If you’re considering a foray into this field, take a look at some of the qualities that project managers share to see if they resonate with you.

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