Common Sense Into Common Practice

Egress Solutions Product & Innovation Management Blog

egress-solution-product-management-post-header1.jpg

Posts by Greg Strouse

Build, Buy or Partner: Choosing the right innovation strategy

Product managers always feel the pressure to grow their business through innovation. When they can successfully create competitive differentiation, fill a gap in product technology or offer a more complete solution, they can drive business growth and gain market share.

While innovation is key to business growth, so is time-to-market. That's why smart product managers consider all their options for their innovation strategy. Should they develop the solution in-house? Buy it? or would it be best to partner with another company?

Choosing the right strategy is difficult. Making the decision to build, buy or partner will test every strand of your company’s fabric. Each avenue has ample benefits and risks, so the decision must take into account all aspects of your company and its strengths and weaknesses.

The decision requires a thorough understanding of your market, your competition, your current customers and, most importantly, those who have not chosen to be your customer.

Read More

Don't Fall in Love - A Product Manager's Tip to Success

“One's first love is always perfect until one meets one's second love.” Elizabeth Aston

I was honored to participate in a podcast hosted by my friend Michael Hopkin. Michael has a blog site dedicated to Product Management (http://www.leadonpurposeblog.com/) and also runs a podcast called The Product Management Pulse.

It was great fun and Michael is a great host. Mostly it got me to think, talk and reminisce about my first love—Product Management.

Over the 30 minutes or so I was able to cover several of my favorite Product Management topics but in replaying it I realized I never got around to one of my most stringent rules for being a good Product Manager (although God knows I tried, I even attempted to talk through the break).

Read More

Winning by Losing

 

“I never lose…I either win or I learn.” - Unknown

I've always been fascinated with how and why business deals are won and lost. As a long time product manager, I've always wanted to know why companies chose or didn't choose my product or service. What I've learned is that knowing makes all the difference.

Too often, the simple answer from sales is it’s either because of price or functionality. “Our competition’s price was cheaper,” they say, or “Our competition’s solution had a feature that we don’t have.” Now to be fair, that is often the reason the salesperson receives from their contact inside the prospect. It’s a quick and easy let down line—the old “it’s not you it’s me.”

Read More
1
effective-product-management-CTA.jpg