While learning Product Management frameworks is great, it's your ability to create value by applying the right framework in the right situation that makes you an effective Product Manager.
Recently I was having a conversation with a Product Manager at a Physical Security As A Service (Physical SaaS ;-)) organization.
His primary concern:
Their current offering was in the decline phase of the product lifecycle
He and his team had conceptualized and developed a new solution that would reignite growth
BUT what about the investments in the physical hardware that was part of the old solution
Gist of our subsequent conversation:
If the physical hardware has been amortised to a satisfactory level, no need to worry about it - Think Finance 101
If not amortised, can you use the hardware as part of some other solution for your existing customer segments or a completely different customer segment - Think Ansoff Matrix.
Do not hesitate to introduce the new solution to specific segments in your existing customer base. If you don’t, your competition will. Think Theory of Disruptive Innovation and what happened to Kodak with Digital Cameras!
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