Initially created to help our own team create better products, the Connectus Product Management Checklist is a great place to start when thinking through what will be required to build a great product. Including input from product managers, start-up founders, investors and other team members, the Connectus PMC covers the following areas:
- Business Model – Map of goals, sales channels and other key business areas.
- Job – “People don’t want to buy a quarter-inch drill. They want a quarter-inch hole!” What does your product do?
- SWOT – Strengths, Weaknesses, Opportunities and Threats
- Stakeholders – Who should you consider when building the product?
- Mission – Core mission and values of the organization.
- Schedule – Identifying development schedule and align with business goals.
- Strategies – Departmental and overall strategy. Slack strategy.
- Metrics – Product management metrics to consider
- Valuation – Focus on value including scalability and profitability when considering any features or changes. Create value for all stakeholders.
- (AMR) – Acquisition, Maintenance and Retention – Consider how you will onboard users, managed their accounts and maintain their high expectations.
- Team – Organization model including in-house and outsourced options.
- Finance – Finance roadmap aligned with the overall product roadmap. Ensure proper capitalization for development and growth.
- Pricing Model – Attempt to determine what the user would be willing to pay, if anything, for the product. How will the company make money?
- Funding – Funding options including outside capital, grants and other options.
- Due Diligence – List of complete DD items to consider including regulatory requirements and stakeholders.
- Customers – Target customer and the customer lifecycle
- Technology – Consider the buy, build or partner options for technology. How to use and manage it.
- (IP) Intellectual Property – Overview of intellectual property considerations.
- Feedback – Feedback cycle or (VOC) voice of customer system.
- Development – Ongoing development cycle including team considerations.
- Roadmap – Multi-layers roadmap.
- (PMF) Product Market Fit – Determining how your product fits into the marketplace.
- Research – Ongoing research to keep tabs on changes in the market.
- Management – Overall management suggestions for the product development process.
- Tips & Tools – What tools can you use to cut costs and improve shipping times.
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