What is Amazon's approach to product development and product management?

 There is an approach called "working backwards" that is widely used at Amazon. We try to work backwards from the customer, rather than starting with an idea for a product and trying to bolt customers onto it. While working backwards can be applied to any specific product decision, using this approach is especially important when developing new products or features.

For new initiatives a product manager typically starts by writing an internal press release announcing the finished product. The target audience for the press release is the new/updated product's customers, which can be retail customers or internal users of a tool or technology. Internal press releases are centered around the customer problem, how current solutions (internal or external) fail, and how the new product will blow away existing solutions.

If the benefits listed don't sound very interesting or exciting to customers, then perhaps they're not (and shouldn't be built). Instead, the product manager should keep iterating on the press release until they've come up with benefits that actually sound like benefits. Iterating on a press release is a lot less expensive than iterating on the product itself (and quicker!).

Below is a basic template for the internal press release, a primary artifact of the Working Backwards process. I've added a few tips on writing each of the sections, and then included an example press release I wrote for a fictional product. I hope these will help you get started working backwards from your own customers!

A few notes on using the template above:

• Title - This is a standard press release title. I like this general format: [COMPANY] ANNOUNCES [SERVICE | TECHNOLOGY | TOOL] TO ENABLE [CUSTOMER SEGMENT] TO [BENEFIT STATEMENT]. You can browse company investor relation websites to get other examples of press release titles and subtitles.
• Subtitle - The subtitle just frames the main announcement in a different way or provides another element of detail.
• Date - This is the date you could potentially launch the product. Safety tip: If you add a date and then review your press release with an exec, they're likely to cache this date and think the product is going to actually ship on the date. Make it practical, just in case.
• Intro paragraph - Provide a crisp 3-4 sentences that reiterate and expand on the title with a little more detail on the customers served and what is being launched.
• Problem paragraph - Lay out the top 3-4 (max) problems for the customers your product or service is intended to serve. Describe each problem briefly and talk about the negative impact of it. Resist the temptation to start talking about your solution. Keep this paragraph focused on the problems, and make sure the problems are ranked in descending order of how painful they are.
• Solution paragraph - Describe how your product/service elegantly solves the problem. Give a brief overview of how it works, and then go through and talk about how it solves each problem you listed above.
• Quote by leader in your company - Pick a leader in your company and make up a quote that talks about why the company decided to tackle this problem and (at a high-level) how the solution solves it.
• How the product/service works - Describe what a customer has to do to start using the product/service and how it works. Go into enough detail to give them confidence it actually solves the problem.
• Customer quote - Create a fake quote by a fake customer, but one that sounds like it could be real. The customer should describe her pain point or the goal she needs to accomplish, and then how the product you launched enables her to do so.
• How to get started - Provide a URL or other information on the first place a customer should go to get access to the product/service.

If the press release is more than a page and a half, it is probably too long. Keep it simple. 3-4 sentences for most paragraphs. Cut out the fat. Don't make it into a spec. You can accompany the press release with a FAQ that answers all of the other business or execution questions so the press release can stay focused on what the customer gets. My rule of thumb is that if the press release is hard to write, then the product is probably going to suck. Keep working at it until the outline for each paragraph flows.

Oh, and I also like to write press-releases in what I call "Oprah-speak" for mainstream consumer products. Imagine you're sitting on Oprah's couch and have just explained the product to her, and then you listen as she explains it to her audience. That's "Oprah-speak", not "Geek-speak".

Once the project moves into development, the press release can be used as a touchstone; a guiding light. The product team can ask themselves, "Are we building what is in the press release?" If they find they're spending time building things that aren't in the press release (overbuilding), they need to ask themselves why. This keeps product development focused on achieving the customer benefits and not building extraneous stuff that takes longer to build, takes resources to maintain, and doesn't provide real customer benefit (at least not enough to warrant inclusion in the press release).

Here’s a mock press release to show you how it all comes together: 

CIRCULERT APP ALERTS SHOPPERS WHEN THE PRODUCTS AND SERVICES THEY WANT BECOME AVAILABLE OR DROP IN PRICE

If a product or service isn’t available today or at the right price, Circulert helps shoppers buy it later, for less.

SEATTLE–January 1, 2021 - Circulert, a Seattle company, today launched a new application for iOS and Android that notifies users when the products and services they want or need become available for sale or drop in price. 

Many items consumers want to buy aren’t available today, or the price might not be quite sharp enough to prompt a purchase. If there’s a specific brand of clothing you like, you have to keep checking retailer websites so see if they’ve released a new line, or spend time looking through a slew of daily emails from every retailer you’ve ever shopped from to find the one email that tells you about new products you care about. How often have you found out that your favorite band is playing a show in your town after all the tickets are sold out? How often have you picked through “web specials” of your favorite clothing line when they go on discount, only to find that the only sizes still available of that one product you love are XXL of XXS? Too often.

Circulert solves these problems by telling you when you can buy the things you want, or buy the things you want at the price you want. No more work. No more missing out. Circulert learns about the products and services you care most about, and then sends you only the notifications you want. You can choose the notification style or frequency, or view a feed of recent alerts. You are in control. At launch, Circulert can send you availability or price drop notifications for products like clothing, music, or books from your favorite brands, artists or authors. Circulert can also tell you when your favorite band schedules a show in your town, when a flight between you and your long-distance partner is a screaming deal, or when the price of that sweet new tech bauble drops below the amount your spouse is likely to notice on the credit card statement.

“Our goal with Circulert is to take the hassle out of buying things later,” said Ian McAllister, creator of Circulert. “There are tens of thousands of retailers on the web selling everything imaginable. Circulert helps consumers filter out the noise and all the stuff they don’t need, and helps them get the things they do need at the best price, saving them time and money.”

To try out Circulert, go to Circulert.com and download the app for iOS or Android. Connect the app to your Amazon, Ticketmaster, and other online accounts, and then review the suggested alerts. Circulert will then send you only highly relevant notifications when the items you want are available at the right price. You can star items that you want to get back to easily, share them with friends and family, or follow through and buy them.

 “I absolutely hate missing out on a great deal,” said Clare Keating, a nurse in Seattle. ”To make sure I don’t miss out I used to have to hit my favorite websites every few days. With Circulert, I found out about great deals right away and never miss out.”

If you want to save time or money (or both!), visit circulert.com today.

Ian McAllister

https://tinyurl.com/3s24xncn

Eisenhower Matrix Template

 

Decide which tasks you should do first, which you can delegate, and which are optional by using the Eisenhower Matrix. Prioritize tasks based on urgency or delegate like a pro (or like a President).

About the Eisenhower Matrix Template

We’ve all been there: you sit down to start your day, and you’re so overwhelmed by the tasks you need to complete that you don’t know where to start. Emails pile up, you have errands to run... How do you sort through the chaos? Meet, the Eisenhower matrix, a decision-making framework designed by former American president Dwight D. Eisenhower.

The Eisenhower decision matrix template helps you prioritize tasks based on their urgency and importance. Instead of struggling to figure out in what order you should complete your tasks, decide which ones are urgent, which can be delegated, and which are optional.

How to use the Eisenhower matrix template

Making your own Eisenhower matrix is easy with Miro's template. You can easily visualize tasks in each quadrant of the matrix, adding images, videos, or documents to keep track of everything in one place. For a dynamic overview, you can even integrate Jira cards as action items to keep track of the current status of any task.

Here's a step-by-step guide to using the Eisenhower matrix template effectively:

Step 1: Fill in the "Do First" quadrant

The tasks in the upper left quadrant are the most important. They need to be done today. For example, answer an urgent email from your boss, or make a doctor’s appointment.

Step 2: Fill in the "Schedule" quadrant

Tasks in the upper right quadrant are important, but not pressing. These are things you can schedule for the future and that you need to put in your calendar. Catching up with a friend or meeting with your coworker about a non-urgent topic can fall into this category. The bulk of your tasks should fall into this quadrant.

Step 3: Fill in the "Delegate" quadrant

The lower left quadrant is for tasks that are not as important as the urgent tasks, but should still get done promptly. Make sure to follow up on delegated tasks, to ensure they were executed properly. If someone calls you into a meeting, for example, you could delegate the task by asking a teammate to take the meeting instead.

Step 4: Complete the "Don’t Do" quadrant

The lower right quadrant is for tasks you don’t need to do at all. Think about the tasks that allow you to procrastinate and keep you from getting things done. Things like scrolling through social media might fall into this category.

Step 5: Reassess your matrix and keep it up-to-date

Iterate on your matrix as needed. Your priorities might change during the day or as other tasks come up, so use the template to quickly add, move, or change tasks as your schedule evolves.

Why should you use the Eisenhower Matrix template?

An Eisenhower decision matrix template can be particularly useful for various reasons:

1. Prioritization: It helps sharpen your focus on the most important tasks, thereby increasing productivity by keeping the vital tasks in the foreground.

2. Delegation: The template clearly identifies the tasks that can be delegated, promoting efficient teamwork and time management.

3. Stress Reduction: By categorizing tasks, the matrix reduces the overwhelm of long to-do lists, which eases anxiety and provides a clear path for action.

4. Time Management: It allows you to identify tasks that should not consume valuable time, making it easier to use your work hours more efficiently.

5. Strategic Planning: The matrix supports long-term planning by distinguishing between tasks that require immediate attention and those that contribute to long-term goals.

Eisenhower Matrix Template FAQs

Can the Eisenhower Matrix be used for team projects?

Absolutely. The matrix is not limited to individual task management. It is a powerful tool for teams to align on priorities and ensure that everyone is focused on the right tasks.

Is the matrix suitable for personal and professional use?

Yes, the Eisenhower Matrix is versatile and can be used in both personal and professional contexts to manage any type of task effectively.

How often should the matrix be updated?

It is recommended to review and update the matrix regularly, ideally at the start of each day or week, to reflect the evolving priorities and tasks.

Is there a preferred format for presenting the information within the template?

It's essential to keep your Eisenhower Matrix organized, clear, and easy to read. Miro enables you to add visual assets and color-code stickies for better visibility.

https://tinyurl.com/33bhk8jv

Impact vs. Effort Matrix Template

 

Help your team prioritize their work by defining the impact and effort of your activities.

About the Impact Effort Matrix Template

Are you struggling to prioritize tasks? Or do you want to identify activities that’ll give your customers the best experience? An impact effort matrix could be exactly what you need.

Use the Impact Effort Matrix Template to prioritize your work based on the effort it takes and the impact it’ll have on your customers. Align your priorities and get projects on track while reducing wasted time and energy.

What is an impact effort matrix template?

An impact effort matrix (also known as an action priority matrix) is a decision-making tool. Filling out this Impact Effort Matrix Template helps team leaders prioritize the following:

• Tasks and projects that yield the best results in the least amount of time

• Projects that’ll take longer but are still worth doing

• Tasks and projects that’ll have little impact on your customers

The matrix is split into four quadrants:

Minimal-effort and low-impact: Also known as fill-ins, these activities require little work and have little impact on your customers.

Maximum-effort and low-impact: Tasks that require a lot of time and effort on your part but have little impact on your customers. They’re also known as time-wasters or thankless tasks.

High-impact and minimum-effort: These tasks are your quick wins. They’re actions that impact your customers significantly and don’t require a lot of work from you.

High-impact and maximum-effort: Major projects that need a lot of attention but have a large impact on your customers.

Using these quadrants, you can easily visualize which tasks will reap the greatest benefits for your customers.

How do you create an effort impact matrix?

Creating an impact effort matrix is simple and straightforward with Miro’s template:

Step 1: Get the whole team together. It’s vital that the matrix is filled out by actual stakeholders with skin in the game. Why? Because they have a firsthand perspective on how tasks are completed and how much effort is required. 

Step 2: Identify objectives and team goals. Have a brainstorming session to identify the main objectives and team goals. This aligns the team on the overall mission.

Step 3: Create a four-quadrant chart. The impact effort matrix is plotted on two axes: the level of effort involved in a task and the level of potential impact completion of the task can have. The quadrants are already mapped out in our template, so you don’t have to worry about creating it from scratch. 

Step 4: Add individual tasks into one of the four quadrants.Plot your tasks onto the matrix depending on how much effort and impact each action can have. Closely review each placement with the whole team to make sure everyone agrees. 

Step 5: Create an action plan based on your results. With an understanding of the impact and effort of all tasks, you can determine which tasks deserve the most time and resources in the future.

When to use an impact effort matrix

There are a few situations where using an impact effort matrix is helpful: 

• Resource allocation: If your time and resources are limited, the matrix is incredibly helpful. For example, if you have multiple courses of action to consider, you can use the matrix to find the best option and allocate your resources accordingly. 

• To prioritize tasks: An impact effort matrix helps you prioritize tasks and find the most efficient path towards reaching your goals. You can focus on quick wins and see results as quickly as possible. 

• To understand customer needs: Using the matrix gives you a better understanding of what your customers are looking for. You put yourself in their shoes to see what they value and incorporate this into your action plan.

Benefits of creating an impact effort matrix

The impact effort matrix is a valuable decision-making tool. It helps teams optimize limited time and resources while providing a visual guide to everything from daily to-do lists to more complex strategic plans. Let’s look at some of these benefits in more detail. 

Prioritize tasks

An impact effort matrix forces you to prioritize tasks based on what’s best for the customer and what’ll help them achieve their goals. As a result, you identify the most fruitful ways to spend your time. 

Maximize efficiency and impact

A successful impact effort matrix analyzes how you’re spending your time. With this information, you can find ways to reduce waste. For example, you’ll categorize tasks based on their level of impact, which helps you cut activities that aren’t worthwhile.

Align goals

An impact effort matrix gets everyone on the same page. It aligns various stakeholders on goals and priorities by measuring exactly how much impact each effort will have. Everyone knows what the priorities are, the impact they’ll have on customers, and how they align with your company and project goals. 

Impact Effort Matrix Template FAQs

What are the 4 quadrants of an impact effort matrix?

The 4 quadrants are: low-effort and low-impact, high-effort and low-impact, low-impact and high-effort, and high-impact and high-effort.

How does an impact effort matrix work?

An impact effort matrix works by plotting all the various tasks related for a project on a matrix with two axes: level of effort and level of impact. Sorting tasks in this way helps teams with prioritization and reducing waste.

How to Make a Prioritization Matrix in Excel

https://tinyurl.com/3cu5wv5a