In the fast-paced world of startups and innovation, understanding and implementing effective product strategies is crucial for aspiring product managers. This article delves into key insights by our industry expert, Srivatsa Sanjeevi (Senior Director - Head Of Products - Goibibo, ex-Group Product Manager - Walmart, ex-Chief Manager - Samsung Electronics) on product strategy of two pivotal models—Jobs to be Done (JTBD) and First Principle Thinking—that form the bedrock of successful product management. Whether you are a student or a working professional interested in product management, mastering these models can significantly enhance your strategic thinking and decision-making skills.
The Voice of the Customer
In today's competitive landscape, the product manager's role has evolved to be the voice of the customer.
"A product manager is the voice of the customer because there will be somebody in your organization who will represent marketing, finance, operations, and something else, but who is that one person who represents the customer? It is the product manager." - Srivatsa Sanjeevi
This fundamental shift underscores the importance of customer-centric thinking in product development. By truly understanding the needs, preferences, and pain points of customers, product managers can drive innovation and ensure that the products developed align with market demands.
Two Powerful Product Strategy Models: Jobs to be Done and First Principle Thinking
Jobs to be Done (JTBD)
The JTBD framework is a strategic model that views every problem statement as a job that needs to be accomplished. For example, Swiggy, a food delivery service, addresses the job of "satisfying hunger" by delivering food to customers. This model emphasizes the higher purpose for which customers buy a product, focusing on the underlying problem rather than the product itself.
"Every problem statement is a job to be done. This model is good for identifying and validating new ideas." - Srivatsa Sanjeevi
The Multifaceted Nature of Jobs to be Done
The multifaceted nature of jobs to be done can be broken down into main jobs and related jobs, each with functional and emotional aspects.
Main and Related Jobs
The main job describes the primary task the customer wants to achieve, while related jobs encompass additional tasks required to accomplish the main job. For example, when buying a house, the main job is acquiring a home that provides shelter and security. Related jobs include applying for a home loan, arranging movers and packers, and purchasing furniture and electronics.
Functional and Emotional Aspects
Each job has functional and emotional aspects. Functional aspects are practical and objective, such as safety, budget, and location in the context of buying a house. Emotional aspects, on the other hand, are subjective and qualitative, including personal feelings of self-esteem and how others perceive the purchase.
Applying JTBD: A Real-World Example
First Principle Thinking
First Principle Thinking is another strategic model that focuses on breaking down complex problems into their most basic elements and reassembling them from the ground up. This approach encourages innovative thinking by challenging assumptions and exploring new ways to solve problems. When used in conjunction with JTBD, it can generate effective solutions for identified problems.
Building a Product Strategy for Startups
For aspiring product managers, understanding these models is crucial not only for interviews but also for practical application in the workplace.
"In an interview, if you showcase that you know these models and how to apply them, that is really good and it will give a good impression." - Srivatsa Sanjeevi
Companies can choose to focus on one aspect of the job to be done or address multiple aspects, starting with a narrow focus and expanding over time. This strategic flexibility allows startups to innovate and scale effectively.
The Bottom Line
Understanding and implementing product strategy models like JTBD and First Principle Thinking is essential for anyone looking to excel in product management. These models not only help in identifying and validating new ideas but also in crafting solutions that address the core needs of customers.
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