Hi, everyone! My name is Krists and I am a Product Manager at VMware Tanzu Labs based in Berlin, Germany. In my daily work I help enterprise companies to enable their teams in modern application development practices to deliver customer and business value in a fast, iterative and sustainable way. My personal mission is to bring together people as highly functional teams in a kind, growth oriented and sustainable way, and enable them to use this collective momentum to create solutions we can be proud of. I have more than 7 years of experience in innovation strategy and product management working with such companies as Volkswagen, IKEA, Deutsche Bahn, Deutsche Telekom, Audi, Bugatti, Porsche, etc. I will be happy to share my expertise with you and hopefully help you find new ways to approach the tasks, challenges and goals you would like to excel at!
My Mentoring Topics
- Product Management
- Agile & Lean
- Innovation Strategy
- Strategic Design
- Product Team structures
- From Discovery to Backlog Prioritisation
- Product Workshop Facilitation & Templating (Discovery, Framing, Execution, Iteration)
- App Modernisation Management
- Career Development as a Product Manager
- Team Challenges
- Retros & Feedback Methodologies
M.
5.February 2023Session was useful to me It's not always about the guidance or teaching, more about the sharing the experience and different approaches. It was useful for me to learn from Krists about his experience as a Product manager. Great questions which lead me to find the answers within myself. Rubber ducking:) I have no specific feedback as only the positive one, since I didn't put expectations and was eager to hear what approaches is Krists using daily and that's exactly what we achieved. Perhaps, the recap with the action points, that I created for myself, would be something useful for long term mentees! I must say that Mentoring club is a great platform and I wish I would have found it 4 years ago:)
Ł.
21.January 2023Session was very structured and thorough. From an overview of the whole field through specifics like what my portfolio should look like and which courses to take first. I felt supported and received insightful info and many helpful tips how to start and what to expect on particular steps in the whole process of looking for a new job.
N.
3.January 2023He was very patient enough to listen to my queries and helped me understand how it is to work as a product manager in real time job. He also shared me valuable resources to learn and gave me a roadmap to apply to PM roles.
J.
29.December 2022The session with Krists was extremely valuable! Krists was very helpful, super invested and engaged - an awesome sparring partner and mentor. We talked about organizing teams and product discovery - super supportive! Owing to our discussions certain ideas and concepts just "clicked" in my brain and I can'r wait to take the next steps.
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Never Split the Difference - Negotiating As If Your Life Depended On It
Chris Voss, Tahl Raz
Key Insights from the Book: The principle of tactical empathy: Understand and recognize the emotions of your counterpart and respond to them in a thoughtful manner. The power of mirroring: Imitate the language and behavior of your counterpart to build rapport and trust. The effectiveness of calibrated questions: Ask questions that allow your counterpart to have control, but steer the conversation towards your desired outcome. The significance of active listening: Listen carefully to what your counterpart is saying and respond accordingly. The role of patience: Give your counterpart time to respond and don’t rush them into making a decision. The importance of a "no": Getting a 'no' is not a failure, but rather an opportunity to understand your counterpart's fears and concerns. The “Ackerman Model”: A strategic bargaining method developed in the FBI, which involves setting a target price, then using a series of calculated offers and conciliatory gestures to reach it. The concept of "Black Swans": Unforeseen events or pieces of information that can dramatically impact the outcome of a negotiation. The value of loss aversion: People are more motivated to avoid losses than to achieve equivalent gains. The utility of "that's right": Getting your counterpart to say "That's right" instead of "You're right," ensures they feel understood and agree with your viewpoint. The "7-38-55 Percent Rule": In communication, 7% of a message is derived from the words, 38% from the tone of voice, and 55% from body language and facial expressions. An In-Depth Analysis of the Book "Never Split the Difference" by Chris Voss and Tahl Raz is a compelling exploration into the art of negotiation. Drawing from his experience as a former FBI hostage negotiator, Voss provides readers with practical techniques to improve their negotiation skills. Understanding and Using Tactical Empathy Tactical empathy is at the heart of successful negotiation. It revolves around understanding and acknowledging the feelings and mindset of your counterpart. By doing so, you can navigate the negotiation process more effectively and achieve favourable outcomes. As a negotiator, it's not enough to understand what the other party wants; you must also comprehend how they feel. This emotional intelligence enables you to build a connection and establish mutual trust, increasing the likelihood of a successful negotiation. Mirroring, Calibrated Questions and Active Listening Voss also highlights the importance of mirroring, calibrated questions, and active listening. Mirroring, which involves imitating your counterpart's language and behaviour, can foster a sense of familiarity and rapport. Calibrated questions, on the other hand, allow you to steer the conversation without appearing aggressive or domineering. These questions typically start with "what" or "how," prompting your counterpart to think deeply and contribute valuable information to the discussion. Active listening is equally crucial. By paying close attention to your counterpart's words, you can identify underlying concerns or interests that may be key to the negotiation. This also signals respect and sincerity, strengthening your relationship with the counterpart. The Value of Patience and the Power of 'No' Patience is a virtue in negotiation. Voss emphasizes the importance of allowing your counterpart sufficient time to respond. A hurried negotiation is unlikely to yield optimal results. Moreover, contrary to common belief, receiving a 'no' from your counterpart is not necessarily a setback. Instead, it can serve as a stepping stone to understanding their fears and concerns better. It gives you the opportunity to address those issues and make a more persuasive case. The Ackerman Model and the Concept of Black Swans The Ackerman model is a bargaining method that involves setting a target price, then using a series of calculated offers and conciliatory gestures to reach it. This method, which requires patience and strategic thinking, can be highly effective in achieving your desired outcome. Voss also introduces the concept of 'Black Swans' – unexpected events or pieces of information that can dramatically alter the negotiation landscape. Identifying potential Black Swans and preparing for them can give you a significant advantage. Loss Aversion, 'That's Right' and the 7-38-55 Percent Rule The book also delves into the psychology of negotiation, discussing concepts like loss aversion and the power of the words 'That's right'. People are typically more motivated to avoid losses than to achieve equivalent gains, and this can be leveraged in negotiation. Getting your counterpart to say 'That's right' instead of 'You're right' ensures they feel understood and agree with your viewpoint. The former indicates genuine agreement, while the latter often signals appeasement. Lastly, Voss presents the "7-38-55 Percent Rule," a principle that underscores the importance of non-verbal communication. It posits that only 7% of a message is derived from words, while 38% comes from the tone of voice, and 55% from body language and facial expressions. In conclusion, "Never Split the Difference" offers a wealth of practical strategies and psychological insights for effective negotiation. It challenges traditional notions, encouraging readers to perceive negotiation through a different lens. Whether it's in a professional context or everyday life, these techniques can undoubtedly enhance your ability to negotiate successfully.
ViewCreative Confidence: Unleashing the Creative Potential Within Us All
David Kelley, Tom Kelley
Key Insights from "Creative Confidence: Unleashing the Creative Potential Within Us All" Creativity is inherent in everyone: The book asserts that everyone has creative potential, it's just a matter of unlocking it. Overcoming the fear of failure: The authors emphasize the importance of moving past the fear of failure to foster creativity. Embrace a growth mindset: This refers to the belief that abilities can be developed through dedication and hard work. Iterative process: The book introduces the concept of an iterative process, in which ideas are developed, tested, refined, and tested again. Importance of empathy: The authors highlight empathy as a crucial component in the creative process and innovation. Role of collaboration: The value of working as a team to generate and refine ideas is emphasized. Design Thinking: The book provides an in-depth explanation of the Design Thinking methodology. Human-Centered Design: The authors advocate for designs that prioritize human needs and experiences. Prototyping is crucial: The book stresses the importance of creating prototypes to test ideas. Reframing problems: The authors suggest that looking at a problem from different perspectives can lead to innovative solutions. Importance of storytelling: The book highlights how compelling narratives can foster creativity and innovation. An In-Depth Analysis of "Creative Confidence: Unleashing the Creative Potential Within Us All" "Creative Confidence" by David Kelley and Tom Kelley is a compelling piece of work that seeks to debunk the myth that creativity is the preserve of a select few. The book argues that creativity is inherent in everyone and can be harnessed with the right mindset and approach. The authors, renowned for establishing the d.school at Stanford University and the global design company IDEO, introduce the concept of Design Thinking, an innovative problem-solving approach that combines empathy, creativity, and rationality. This methodology is rooted in a human-centered design philosophy that prioritizes people's needs and experiences. One of the main barriers to creativity, as identified in the book, is the fear of failure. The authors suggest that this fear stems from societal conditioning that punishes mistakes rather than viewing them as learning opportunities. To overcome this, they propose embracing a growth mindset, which posits that abilities can be honed through effort and perseverance. This perspective encourages risk-taking and experimentation, essential conditions for creativity and innovation to thrive. The book also underscores the value of an iterative process in the creative journey. This involves generating ideas, testing them, refining based on feedback, and testing again. Prototyping is highlighted as a crucial step in this process, allowing for early detection and rectification of flaws before the final product or solution is developed. Empathy plays a central role in the Design Thinking methodology as presented in the book. By understanding people's needs, emotions, and experiences, we can develop solutions that truly resonate with them. This approach fosters deeper connections and promotes innovative solutions that are user-centric. The authors also highlight the importance of collaboration in the creative process. They argue that diverse perspectives can enrich the ideation process, leading to more comprehensive and innovative solutions. Reframing problems is another powerful strategy proposed in the book. By changing our perspective, we can uncover hidden opportunities and come up with novel solutions. The authors provide numerous examples to illustrate how this reframing can lead to breakthrough innovations. Finally, the authors emphasize the importance of storytelling in fostering creativity and innovation. They argue that a well-crafted narrative can inspire, motivate, and engage, thus driving the creative process forward. In conclusion, "Creative Confidence: Unleashing the Creative Potential Within Us All" is a thought-provoking book that provides valuable insights and practical tips on nurturing creativity. It encourages us to challenge our assumptions, embrace failure as a learning opportunity, and adopt a human-centered approach to problem-solving. By doing so, we can unlock our inherent creative potential and drive innovation in our personal and professional lives.
ViewShow Your Work! - 10 Ways to Share Your Creativity and Get Discovered
Austin Kleon
Key Insights Sharing is crucial for creative success: The book emphasizes the importance of sharing your work and ideas with the world in order to get noticed and succeed. Process is more important than product: Focusing on the journey and sharing your process can be more beneficial and engaging than simply showcasing the end product. Teach what you know: By sharing your knowledge and teaching others, you not only establish your expertise but also solidify your own understanding. Learn to take criticism: Criticism, as long as it is constructive, can be an invaluable tool for growth and improvement. It's important to learn to take it in stride. Build a network: Building a supportive and collaborative network can help you expand your reach and open up new opportunities. Be consistent: Consistency in your work and your sharing habits is key to building a following and establishing your brand. Embrace your influences: It's okay to be inspired by others. In fact, recognizing and embracing your influences can help shape your own unique style. Keep a 'swipe file': A swipe file is a collection of work that inspires you. By keeping a swipe file, you can easily refer back to it for inspiration and ideas. Don't wait until you're ready: There will never be a perfect time to start. It's important to start before you're ready and learn as you go. Stay open and curious: Staying curious and open to new ideas and experiences can help fuel your creativity. Share something small every day: This helps in building consistency, and in the process, you are able to engage more with your audience. Detailed Analysis "Show Your Work!" by Austin Kleon provides a roadmap for creatives to share their work and get discovered. This book is a valuable resource that offers practical advice and strategies in a digestible format. In this analysis, I will delve deeper into some of its key insights. Sharing, according to Kleon, is a crucial facet of creative success. In the digital age, visibility is everything. How can you expect to be discovered if you don't share your work with the world? This insight ties in with the concept of 'open innovation' - a paradigm that assumes firms can and should use external ideas as well as internal ideas to advance their technology. Sharing your work is not about boasting, but rather about engaging with others and building a community around your work. Kleon also emphasizes the importance of the process over the product. By sharing your process, you invite others into your creative journey. This not only engages your audience but also allows for feedback and collaboration. This concept aligns with the 'Maker Movement' that values the act of creating and learning through doing. The idea of teaching what you know is another profound insight from the book. This is a powerful way to establish your authority and build trust with your audience. It resonates with the philosophy of 'participatory culture' where users are encouraged to contribute to and learn from the community. Criticism is another theme that Kleon explores. He advocates for viewing criticism as a tool for growth, provided it is constructive. This aligns with the concept of 'growth mindset' proposed by psychologist Carol Dweck, emphasizing the ability to learn and improve through effort and experience. Networking is a recurring theme in the book. According to Kleon, building a supportive network can be a game-changer in your creative journey. This ties in with social capital theory, highlighting the importance of relationships and networks in accessing resources and opportunities. Consistency, embracing influences, keeping a 'swipe file', starting before you're ready, staying open and curious, and sharing something small every day are other insights that Kleon discusses. These ideas touch on various psychological, social, and marketing theories, offering a holistic approach to sharing your creativity and getting discovered. In conclusion, "Show Your Work!" provides a compelling argument for why and how creatives should share their work. It offers actionable advice and strategies that are grounded in various theoretical concepts, making it a must-read for anyone looking to make their mark in the creative world.
ViewSteal Like an Artist 10th Anniversary Gift Edition with a New Afterword by the Author - 10 Things Nobody Told You About Being Creative
Austin Kleon
Key Facts and Insights Creativity is for everyone: You don't have to be a genius to be creative. Everyone has the potential to be creative in their own unique way. Originality is overrated: Nothing is completely original. All creative works build on what came before. Steal, don't copy: 'Stealing' ideas is about remixing them, transforming them into something new and personal, not copying them outright. Work and play are interconnected: The best work often comes from playing around with ideas and having fun. Limitations are actually beneficial: Constraints can drive creativity and innovation. They force us to make the most of what we have. Side projects and hobbies are important: They allow us to explore new ideas and skills without the pressure of having to produce something perfect or commercially viable. Share your work: Don't be afraid to share your work, even if it's not perfect. Feedback is crucial to improvement. The secret to creativity is persistence: Keep working, keep trying new things, and don't be discouraged by failure. Surround yourself with inspiration: Your environment has a huge impact on your creativity. Surround yourself with things that inspire you. Embrace uncertainty: Uncertainty is part of the creative process. Don't be afraid to experiment and take risks. Be yourself: Your unique perspective is your biggest creative asset. Be authentic and true to yourself. In-Depth Analysis "Steal Like an Artist 10th Anniversary Gift Edition with a New Afterword by the Author - 10 Things Nobody Told You About Being Creative" is a powerful guide that aims to debunk myths about the creative process and provides a roadmap for harnessing one's inner creativity. The author, Austin Kleon, uses a combination of personal anecdotes, quotes from other artists, and practical advice to guide readers through the creative process. Creativity is for everyone. This is a crucial point Kleon emphasizes throughout the book. He asserts that creativity isn't a rare gift bestowed upon a select few; it's a skill that can be cultivated by anyone. This democratization of creativity is a refreshing take and encourages readers to explore their creative potential. Originality is overrated. Kleon's view of creativity as a 'remix' rather than a 'completely new invention' is a liberating concept. It frees us from the pressure of having to come up with something entirely novel and allows us to build on the work of others. This perspective aligns with the concept of "standing on the shoulders of giants," a metaphor often used in the scientific community to describe how new discoveries are built upon previous knowledge. Steal, don't copy. The book's title might seem controversial, but Kleon is not endorsing plagiarism. Instead, he encourages readers to 'steal' ideas, which means to take inspiration from various sources, combine them, and create something new and unique. This approach is reminiscent of the "wisdom of the crowd" theory, which posits that collective opinion or decision-making can often be more accurate or effective than an individual expert's judgment. Work and play are interconnected. Kleon underscores the importance of play in the creative process. He suggests that the most innovative ideas often emerge when we're relaxed and having fun, rather than when we're under pressure to produce. This idea echoes the philosophy of Mihaly Csikszentmihalyi's "flow" state, where individuals are fully absorbed in a task, leading to heightened creativity and productivity. Limitations are actually beneficial. This insight resonates with the "constraint theory" in innovation, which states that creativity thrives under constraints. Limitations force us to think outside the box and come up with innovative solutions. Side projects and hobbies are important. Kleon encourages readers to maintain side projects or hobbies, as they can become sources of inspiration and can help us develop new skills. This aligns with the concept of "lifelong learning," which advocates for continuous learning and skill development throughout our lives. Share your work. Kleon emphasizes the importance of sharing work, even if it's not perfect. This feedback loop is crucial for growth and improvement, echoing the iterative process of design thinking. The secret to creativity is persistence. This is perhaps the most important insight of all. Creativity isn't a one-time event; it's a process that requires effort, patience, and resilience. This aligns with Angela Duckworth's concept of "grit," which she defines as passion and perseverance for long-term goals. Surround yourself with inspiration. Kleon discusses the importance of curating an environment that sparks creativity. This is in line with the theory of "environmental psychology," which studies how our surroundings influence our behavior, thoughts, and emotions. Embrace uncertainty. Kleon encourages readers to accept uncertainty as part of the creative process. This aligns with the concept of "tolerance for ambiguity," a characteristic often found in creative individuals. Be yourself. Lastly, Kleon underscores the importance of authenticity in creativity. By being true to oneself, we can create unique and meaningful work. This aligns with the principle of "authentic leadership," which values self-awareness, transparency, and integrity. In conclusion, "Steal Like an Artist" is a brilliant guide that demystifies the creative process and provides practical tips for nurturing creativity. It encourages readers to embrace their uniqueness, learn from others, and persistently pursue their creative endeavors. Kleon's insights align with many established theories and concepts in creativity and innovation, making his book a valuable resource for anyone seeking to unlock their creative potential.
ViewCracking the PM Interview - How to Land a Product Manager Job in Technology
Gayle Laakmann McDowell, Jackie Bavaro
Key Facts or Insights from "Cracking the PM Interview" The book provides a comprehensive guide to help aspiring product managers navigate the complex and competitive tech industry. Understanding the role - The book presents a clear and well-defined explanation of a product manager's role and responsibilities in the tech industry. Strategy - The book emphasizes the importance of strategic thinking and planning in product management. Technical and Business Expertise - The book underscores the necessity of understanding both technical aspects and business dimensions of a product. Communication Skills - The book highlights the importance of effective communication skills for a product manager. Interview Preparation - The book provides a detailed approach to preparing for PM interviews, including case studies, behavioral questions, and technical questions. Resume Building - The book offers tips and strategies to build a compelling resume tailored for a product manager role. Company Research - The book stresses the need for thorough company research before an interview. PM Career Path - The book provides an insight into the career path and growth opportunities of a product manager in the technology sector. Understanding Different Types of PM Roles - The book distinguishes between different types of PM roles across various tech companies. Insights from Experts - The book features advice and insights from successful product managers and tech industry leaders. Detailed Summary and Analysis "Cracking the PM Interview" by Gayle Laakmann McDowell and Jackie Bavaro is an invaluable resource for those aspiring to become product managers in the technology industry. It provides a detailed understanding of the role, responsibilities, and skills required to succeed as a PM. The book serves as a comprehensive guide, equipped with practical insights and strategies to navigate the challenging and competitive world of tech product management. One of the crucial aspects that the book emphasizes is understanding the role of a product manager. A PM is not just someone who manages a product; they are the 'mini-CEO' of the product. They are responsible for strategy, roadmap, feature definition, and working with engineers, designers, marketing, sales, and support to ensure that the product supports the company's overall strategy and goals. The book underscores the importance of strategic thinking and planning in product management. It is crucial for a PM to understand the market, competition, and customer needs to devise a product strategy that aligns with the company's business objectives. Another key takeaway from the book is the necessity of understanding both the technical aspects and business dimensions of a product. A PM should have a good technical understanding to work effectively with engineers and a solid grasp of business aspects to ensure the product's commercial success. Effective communication skills are another critical aspect highlighted in the book. A PM serves as a bridge between various teams - engineering, design, marketing, sales, and more. Hence, they must be capable of communicating effectively with all stakeholders. The book provides a detailed approach to preparing for PM interviews, including tackling case studies, behavioral questions, and technical questions. It offers numerous examples and scenarios, helping readers to prepare well for various types of questions they might encounter in an interview. Resume building is another crucial area covered in the book. The authors provide tips and strategies to help candidates tailor their resume for a PM role, highlighting relevant skills, experiences, and achievements. The authors also stress the need for thorough company research before an interview. Understanding a company's products, culture, and challenges can help candidates stand out in the interview process. The book offers insights into the PM career path and growth opportunities. It educates readers about the different types of PM roles across various tech companies, helping them make informed career decisions. Finally, the book features advice and insights from successful product managers and tech industry leaders, providing readers with a real-world perspective on product management in the tech industry. In conclusion, "Cracking the PM Interview" is a comprehensive guide that covers all aspects of landing a PM role in the tech industry. The book's contents align with the principles and concepts I have been teaching for many years. It is a must-read for anyone aspiring to become a product manager in the technology sector. It not only provides theoretical knowledge but also practical insights and strategies for succeeding in PM interviews and the role itself.
ViewCracking the PM Career
Jackie Bavaro, Gayle Laakmann McDowell
Key Insights from the Book: Product Management Overview: The book provides a comprehensive description of the product management role, demystifying its responsibilities and challenges. Key Skills: It outlines the essential skills required for a successful product management career, including strategic thinking, communication, leadership, technical proficiency, and more. Product Management Life Cycle: The authors delve into the stages of the product management life cycle, from ideation and design to launch and post-launch activities. Effective Communication: The book emphasizes the importance of effective communication within a cross-functional team, with stakeholders, and with customers. Decision-Making: It provides insights into making data-driven decisions, balancing intuition with facts, and managing trade-offs. Interviewing Skills: The book offers practical advice on how to excel in product management interviews, with tips on preparing case studies, answering behavioral questions, and negotiating offers. Leadership and Influence: The authors convey how to lead without formal authority, build credibility, and influence others to achieve product goals. Professional Development: The book provides guidance on how to grow within the product management career, manage performance reviews, and navigate promotions. Product Metrics: It emphasizes the importance of using the right metrics to measure product success and make informed decisions. Product Strategy: The authors explain how to develop and execute an effective product strategy that aligns with the company's goals. Product Roadmap: The book provides a roadmap to build a successful product, including setting a vision, identifying objectives, and prioritizing features. In-Depth Analysis: "Cracking the PM Career" by Jackie Bavaro and Gayle Laakmann McDowell is a valuable resource for anyone seeking to understand the intricacies of product management, whether they are aspiring product managers, seasoned professionals, or anyone working closely with product teams. One of the book's key strengths is its ability to demystify the product management role. It provides a thorough overview of the responsibilities and challenges that a product manager faces, thereby setting realistic expectations for individuals considering this career path. It also outlines the key skills required – strategic thinking, communication, leadership, and technical proficiency, among others. These skills, as the authors argue, are not only crucial for day-to-day responsibilities but also form the foundation for career growth. A significant portion of the book is dedicated to the product management life cycle. The authors delve into each stage - from ideation, design, development, to launch and post-launch activities. This comprehensive look at the product life cycle offers invaluable insights to anyone involved in product development. Communication, as the authors highlight, is a crucial aspect of product management. They discuss various strategies for effective communication within cross-functional teams, with stakeholders, and with customers, emphasizing its importance in driving product success. Another critical theme in the book is decision-making. The authors provide practical advice on making data-driven decisions, balancing intuition with facts, and managing trade-offs - skills that are indispensable in the fast-paced, often uncertain world of product management. The book also provides valuable guidance on preparing for product management interviews. From acing case studies to answering behavioral questions and negotiating offers, this advice can be highly beneficial for job seekers. The authors also touch upon leadership and influence in the context of product management. They explain how product managers can lead without formal authority, build credibility, and influence others to achieve product goals - an essential skill in a role that often involves managing without direct control. Professional development is another focus area in the book. The authors provide guidance on how to grow within the product management career, manage performance reviews, and navigate promotions. This advice can be particularly useful for those looking to advance their careers in product management. The book also delves into product metrics, emphasizing the importance of using the right metrics to measure product success and make informed decisions. It provides guidance on how to select and track metrics that align with the product's goals and the company's objectives. Finally, the authors explain how to develop and execute an effective product strategy and provide a roadmap for building successful products. They discuss setting a product vision, identifying objectives, and prioritizing features, thereby providing a comprehensive guide for product development. In conclusion, "Cracking the PM Career" provides a comprehensive, practical, and insightful guide to the world of product management. It equips readers with the knowledge and skills to navigate the challenges of the product management role and achieve career success.
ViewThe Lean Startup - How Constant Innovation Creates Radically Successful Businesses
Eric Ries
Key Facts and Insights Emphasis on Experimentation over Elaborate Planning: The Lean Startup methodology promotes experimentation over detailed planning, which allows businesses to adapt and innovate continuously. Customer Feedback over Intuition: Ries emphasizes the importance of customer feedback in shaping products and services rather than relying solely on intuition. Iterative Design: The methodology encourages iterative design, which involves making small changes in products based on customer feedback and observing the results. Minimum Viable Product (MVP): This concept is central to the Lean Startup approach, focusing on creating a basic version of a product to test market hypotheses. Validated Learning: Ries introduces the concept of validated learning, where startups learn from each iteration through rigorous testing and adjustment. Innovation Accounting: This is a method to measure progress, set up milestones, and prioritize work in a startup environment. Build-Measure-Learn Feedback Loop: This is the core component of the Lean Startup methodology, which emphasizes the iterative process of building, measuring, and learning. Pivot or Persevere: Ries introduces a decision-making process in which a startup decides whether to pivot (make a fundamental change to the product) or persevere (keep improving the current product). Continuous Deployment: The Lean Startup methodology encourages continuous deployment of updates to the product, based on the Build-Measure-Learn feedback loop. Lean Management: The Lean Startup approach also extends to management, with streamlined processes and decision-making strategies. In-depth Analysis of "The Lean Startup" "The Lean Startup" by Eric Ries is a game-changing book that has reshaped the way businesses think about innovation and growth. Drawing upon his own experiences, Ries presents a new approach for startups to achieve their goals by focusing on continuous innovation and customer feedback. One of the key points in the book is the emphasis on experimentation over elaborate planning. Traditionally, businesses have relied on detailed and lengthy business plans. However, Ries argues that in the rapidly changing business landscape, these plans can quickly become obsolete. Instead, he advocates for a culture of experimentation, where ideas are tested, and changes are made based on the outcomes. This approach allows businesses to adapt to changes and seize new opportunities more effectively. A second key insight from the book is the importance of customer feedback. Ries suggests that businesses should not merely rely on intuition or assumptions about what customers want. Instead, they should engage with customers, seek their feedback, and use this information to shape their products and services. This is an integral part of the iterative design process advocated by Ries. The concept of the Minimum Viable Product (MVP) is central to the Lean Startup methodology. Rather than spending extensive resources developing a perfect product right from the start, Ries suggests starting with a basic version of the product, testing it in the market, learning from customer feedback, and making modifications accordingly. The MVP helps businesses to test their market hypotheses with minimal resources. Ries introduces the concept of validated learning, which is a process of learning from each iteration of the product. Through rigorous testing and adjustment based on customer feedback, startups can learn valuable insights about their product and the market. A significant concept in the book is innovation accounting, a method to measure progress, set up milestones, and prioritize work in a startup environment. This accounting system is designed to provide startups with a clear measure of their progress and inform decision-making processes. The Build-Measure-Learn feedback loop is another core concept in the Lean Startup methodology. Startups are encouraged to build a product, measure how it performs in the market, learn from the outcomes, and then build again. This iterative process fosters continuous improvement and innovation. Ries also introduces a decision-making process in which a startup decides whether to pivot or persevere. If a product is not meeting its objectives or gaining traction in the market, the startup may decide to pivot, i.e., make a fundamental change to the product. If the product is showing promise, the startup may decide to persevere and keep improving the product. Continuous deployment of updates to the product is another strategy advocated by Ries. Based on the Build-Measure-Learn feedback loop, updates are made to the product and deployed continuously. This approach ensures that the product is always improving and adapting to customer needs and market changes. Finally, the Lean Startup approach extends to lean management, with streamlined processes and decision-making strategies. The goal is to create an organization that is adaptable, efficient, and focused on continuous innovation. In conclusion, "The Lean Startup" presents a new approach to business, emphasizing agility, customer feedback, and continuous innovation. It provides a roadmap for startups looking to achieve success in a rapidly changing business landscape.
ViewThe Startup Way - How Modern Companies Use Entrepreneurial Management to Transform Culture and Drive Long-Term Growth
Eric Ries
Key Insights from "The Startup Way" The concept of the 'Startup Way' is about cultivating a culture that fosters innovation and entrepreneurial thinking. It encourages organizations to implement continuous innovation as a part of their core strategy. The 'Lean Startup' methodology is a fundamental part of this approach, emphasizing the importance of experimentation over elaborate planning. Building Minimum Viable Products (MVPs) and using validated learning to iterate and improve upon them is a key process in this approach. The book argues that modern companies must embrace failure as an opportunity for learning and growth. It emphasizes the importance of entrepreneurial management in driving long-term growth. The book also highlights the role of leadership in fostering a culture of innovation and entrepreneurial thinking. It underscores the importance of pivoting or persevering, based on the feedback and data gathered from customers. The 'Startup Way' is applicable not just to startups but to any organization, regardless of its size or industry. Lastly, the book discusses the challenges and benefits of implementing the 'Startup Way' in an organization. An In-Depth Analysis "The Startup Way" by Eric Ries presents a comprehensive perspective on how organizations can drive long-term growth by adopting entrepreneurial management and innovation as their core strategy. This proposition is a shift from the conventional corporate culture that emphasizes on meticulous planning and risk aversion. The book is a successor to Ries’ previous work, "The Lean Startup," where he introduced the concept of the Lean Startup methodology. This method emphasizes the importance of building an MVP, or a product with just enough features to satisfy early customers, and then using the feedback to iterate and improve upon it. The Startup Way not only reinforces the principles of the Lean Startup methodology but also extends it to the broader context of organizational management. A key premise in the book is that organizations should embrace failure as an integral part of the learning process. This is a profound shift from the usual corporate aversion to failure. Ries argues that failure is inevitable when experimenting with new ideas. Rather than avoiding it, organizations should learn from it and use the insights gained to improve their products or services. Ries emphasizes the role of entrepreneurial management in fostering innovation and driving long-term growth. He argues that entrepreneurial managers are not just 'doers,' but they also need to be 'thinkers' who can envision a future, devise strategies to realize it, and inspire their teams to work towards it. The book also underscores the importance of leadership in cultivating a culture of innovation. Ries asserts that leaders play a crucial role in creating an environment where employees feel empowered to experiment, take risks, and learn from their failures. The concept of pivoting or persevering, based on the feedback and data gathered from customers, is another significant insight from the book. This approach encourages organizations to be flexible and adaptive in their strategies, enabling them to better respond to market trends and customer needs. Ries also argues that the principles of the 'Startup Way' are applicable to any organization, regardless of its size or industry. He provides examples of large corporations like GE and Toyota that have successfully implemented these principles to drive innovation and growth. Lastly, the book discusses the challenges and benefits of implementing the 'Startup Way' in an organization. While the transition may be difficult, especially for established companies with ingrained cultures, the benefits in terms of increased innovation, adaptability, and long-term growth are significant. In conclusion, "The Startup Way" presents a compelling case for adopting a culture of innovation and entrepreneurial management. As an experienced professor dealing with these topics for many years, I find Ries’ insights to be valuable and relevant for any organization seeking to navigate the complexities of the modern business environment.
ViewBusiness Model Generation - A Handbook for Visionaries, Game Changers, and Challengers
Alexander Osterwalder, Yves Pigneur
Key Insights from "Business Model Generation" Importance of Business Model Innovation: The book posits that traditional business models are being disrupted, and businesses must adapt to survive. It emphasizes the need for innovation in business models. Customer Segments: The book highlights the importance of understanding your customer segments, tailoring your business model to meet their needs, and treating different customer segments differently. Value Proposition: The authors underscore the importance of delivering unique value to customers. This includes understanding the customers' problems and providing solutions through products or services. Channels: The book discusses the need for businesses to identify the best channels to reach their customers, including direct and indirect sales channels, partner channels, and online channels. Customer Relationships: The book emphasizes the importance of building and maintaining strong relationships with customers, which can lead to customer retention and increased sales. Revenue Streams: The authors discuss various revenue streams that businesses can tap into, including asset sales, usage fees, subscription fees, and licensing. Key Resources: The book highlights the necessity of having key resources in place, such as physical, intellectual, human, and financial resources, to support the business model. Key Activities: The book outlines the critical activities that businesses must undertake to deliver their value proposition, such as production, problem-solving, and platform/network. Key Partnerships: The authors stress the importance of forming strategic alliances, partnerships, and joint ventures to enhance the business model. Cost Structure: The book discusses the cost structure of a business model, including fixed and variable costs, economies of scale, and economies of scope. Business Model Canvas: The book introduces the Business Model Canvas, a visual tool that helps businesses map, discuss, design, and invent new business models. An In-depth Analysis of the Book's Content "Business Model Generation" by Alexander Osterwalder and Yves Pigneur is a comprehensive guide that empowers individuals to create and innovate business models that are transformative and disruptive. The emphasis on business model innovation is particularly relevant in today's rapidly changing business landscape, where traditional business models are becoming obsolete. This aligns with the concept of 'creative destruction' proposed by economist Joseph Schumpeter, which suggests that businesses must constantly innovate to stay relevant. The authors introduce the concept of the Business Model Canvas, a tool that allows businesses to visually map out their business model. This tool is particularly useful because it enables businesses to see the big picture and identify areas of strength and weakness. The Canvas consists of nine building blocks: customer segments, value proposition, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure. The book places great emphasis on understanding customer segments and delivering a unique value proposition. This is consistent with the marketing concept, which suggests that businesses should focus on meeting the needs and wants of their target market. The authors also highlight the importance of identifying the right channels to reach customers, which is a key aspect of the marketing mix. The authors also discuss the importance of building strong customer relationships. This is in line with the relationship marketing concept, which posits that businesses should focus on building long-term relationships with customers rather than one-time transactions. The book also discusses various potential revenue streams. This is an important aspect of any business model, as revenue generation is critical for business survival and growth. The authors also highlight the importance of having key resources in place and engaging in key activities to deliver the value proposition. The book emphasizes the importance of forming key partnerships, which can help businesses increase their resources and capabilities. This aligns with the resource-based view of the firm, which argues that businesses can gain a competitive advantage by leveraging their unique resources and capabilities. Lastly, the authors discuss the cost structure of a business model. Understanding the cost structure is critical for businesses as it affects pricing and profitability. Overall, "Business Model Generation" provides a comprehensive and innovative approach to business model creation and innovation. It provides practical tools and insights that can be useful for both practitioners and academics.
ViewLean UX - Applying Lean Principles to Improve User Experience
Jeff Gothelf
Key Insights from "Lean UX - Applying Lean Principles to Improve User Experience" Integration of Lean and UX: The book introduces how the Lean Startup methodology, which places an emphasis on iteration and customer feedback, can be applied to user experience (UX) design. Focusing on Outcomes: One of the central tenets of Lean UX is shifting the focus from outputs (like features, services, and products) to outcomes (like customer behavior, engagement, and satisfaction). Collaboration and Cross-Functional Teams: Lean UX advocates for the collaboration of cross-functional teams in which everyone has a voice and contributes to the project. Minimum Viable Product (MVP): The concept of the MVP, a version of a product with just enough features to satisfy early customers and provide feedback for future product development, is a key aspect of Lean UX. Continuous Learning: Lean UX emphasizes the importance of continuous learning through iterative design and feedback loops. Validation: The Lean UX approach ensures that every design decision is validated by real-world data and customer feedback. Prototype, Measure, Learn: The book highlights the cycle of prototyping, measuring results, and learning from the data to make informed UX decisions. Assumption and Hypothesis: Lean UX encourages designers to state their design assumptions and then test these hypotheses through the design process. Flexibility: The Lean UX methodology is flexible and adaptable, allowing it to be used in various industries and project sizes. Design as a Conversation: Lean UX views the design process as a conversation, where ideas are shared, discussed, and iterated upon. A Deep Dive into "Lean UX - Applying Lean Principles to Improve User Experience" Jeff Gothelf's "Lean UX - Applying Lean Principles to Improve User Experience" presents a transformative and innovative approach to user experience design. The book combines the principles of Lean Startup and UX design to create a methodology that is outcome-focused, collaborative, and data-driven. The Integration of Lean and UX is a significant shift from traditional UX design methodologies. It moves away from a heavy emphasis on deliverables to a process that is more lightweight, iterative, and centered around the user. This approach ensures that the design process remains flexible and adaptable, which is crucial in today's fast-paced digital landscape. A key aspect of Lean UX is its focus on Outcomes. Instead of concentrating on features or services, Lean UX directs attention to customer behavior, engagement, and satisfaction. This shift in perspective allows teams to design products that truly meet the needs and wants of their users. The book puts a great deal of emphasis on Collaboration and Cross-Functional Teams. This approach breaks down silos and encourages everyone involved in a project to contribute their unique perspectives and expertise. The concept of the Minimum Viable Product (MVP) is central to Lean UX. An MVP, which contains just enough features to satisfy early customers, enables teams to gather user feedback that informs future product development. This approach ensures that teams do not waste time and resources on features that customers do not want or need. In Lean UX, Continuous Learning is achieved through iterative design and feedback loops. Teams continually prototype, measure results, and learn from the data to make informed UX decisions. This constant cycle of learning and iteration allows teams to adapt to changes quickly and efficiently. The Lean UX approach ensures that every design decision is Validated by real-world data and customer feedback. This validation reduces uncertainty and ensures that the final product meets the needs of customers effectively. In Lean UX, designers are encouraged to state their Assumptions and Hypotheses and then test these through the design process. This approach creates a culture of experimentation, where learning from failures is seen as just as valuable as successes. Finally, Lean UX views Design as a Conversation. Ideas are shared, discussed, and iterated upon in a collaborative environment. This approach encourages innovation and ensures that the best ideas rise to the top. In conclusion, "Lean UX - Applying Lean Principles to Improve User Experience" provides a comprehensive guide to a revolutionary approach to UX design. By integrating the principles of Lean Startup with UX design, this methodology ensures that products are developed that truly meet the needs and wants of users.
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16.May 2023The chat with Krists was a great opportunity to understand the PM role and get tips on my career path. From the beginning, he listened very carefully to my story, and concerns, and make himself available to discuss my possibilities. He shared his opinions and experiences and provided me with guidance and resources for my next steps. That was certainly helpful! I can only recommend him!