Remove Management Remove Marketing Remove Productivity Remove Strategy&
article thumbnail

5 Strategies for Success in Product Management

Tom Spencer

In the competitive, fast-paced, and ever-evolving landscape of technology and business, the role of a product manager is pivotal. A great product manager is not just a project coordinator, they are visionaries, strategists, and leaders. As such, effective communication is the backbone of successful product management.

article thumbnail

Navigating a Downturn: Strategies for Business Resilience

Tom Spencer

Diversify Revenue Streams One fundamental strategy for business resilience is to diversify revenue streams. Although it is fairly common for a successful business to generate 80% of its profits from 20% of its products, relying heavily on a small number of products, services, or markets exposes a business to significant risk.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Achieving Startup Success via Product-Market Fit

Tom Spencer

While this idea is appealing and no doubt has some truth to it, it has led many entrepreneurs to develop, fund, and launch products that ultimately fail. Why waste years scaling up a product that from the outset never performed the job that customers needed doing? It has come to be known as product-market fit.

article thumbnail

Local US Business Experts for Market Management

Business Consulting Agency

Expanding into the US market presents lucrative opportunities for businesses seeking global growth and market penetration. However, navigating the complexities of the US market requires strategic planning, in-depth market knowledge, and localized expertise. Through consulting services, local experts assist.

article thumbnail

How to Craft a Durable Strategy for the Long Run

Tom Spencer

Hundreds of articles have been written on strategy, each with an author that presents a unique perspective from years of paradigm-shaking experience. Some even “reinvent the wheel” by rejecting past concepts altogether and introducing an entirely new way of thinking about strategy. Walmart provides a clear example of inimitability.

article thumbnail

Making Your Products Accessible to Underserved Markets

Harvard Business

He posited that this segment was an untapped market opportunity and that companies, by developing products and services accessible to them, could create sustainable and profitable ventures, while also improving the lives of the poor. But in doing so, it also drew attention away from other inclusion gaps.

article thumbnail

Understanding Your Target Market: Discovery Calls

Tom Spencer

Most entrepreneurs and product managers (PMs) know that they need to find out what people want. The collected information is then taken into product development meetings, focusing all future engineering efforts on addressing the customer pain points in a way that can be monetized. Instead of asking “do you like this logo?”

Marketing 166