Product Roadmaps | Nitin Prasad | Skillshare

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Taught by industry leaders & working professionals
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Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

5 Lessons (26m)
    • 1. Product Roadmaps

      3:29
    • 2. Intro & Why roadmaps?

      4:29
    • 3. Roadmap types & examples

      9:55
    • 4. Creating a roadmap

      6:01
    • 5. Conclusion & summary

      1:40
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About This Class

Hi all,

In this class, you'll learn about product roadmaps, why they're important with a clear example. I'll place you as a product manager in a fintech company with a vision. You'll understand the importance of roadmaps, the different types and how to create one.

Class structure:

  • Overview - Product Roadmaps and what I'll be covering [3 mins]
  • Intro & Why? - Purpose of Product Roadmaps [4 mins]
  • Roadmap types & examples - 3 different types of roadmaps with clear examples [9 mins]
  • Creating a roadmap - Steps to create a roadmap [6 mins]
  • Conclusion & summary - Key takeaways [2 mins]

Outcome:

Become aware of why roadmaps are important, understand the types of roadmaps and how to create a product roadmap.

Meet Your Teacher

Teacher Profile Image

Nitin Prasad

Passionate about product | Product coach

Teacher

Hi all,

I'm Nitin from Auckland, New Zealand. My goal is to help at least 100,000 aspiring people to get into product management. With over 13 years of working in the IT sector here and several years with SAAS companies in NZ, I've learned a lot and I'm looking to learn even more with you all! - Please review and connect if you watch a class. - Ever grateful.

12+ Years in SAAS
Shipped products in:
- Fintech (Banking, P2P lending & Expense management)
- Retail (POS)
- Transport (Hardware and SAAS)

Qualifications:

- Masters in Commercialisation & Entrepreneurship (University of Auckland - Business School)
- Launched 2 apps (iOS & web app)

Certifications

- Certified Scrum Product Owner
- Scrum.org... See full profile

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Transcripts

1. Product Roadmaps: Hey everyone, welcome to another session with means and, and I'm going to take you through product roadmaps today. So let's get into it. Quick intro. Firstly, why roadmaps? And we'll definitely touched on that in this course and the purpose of roadmaps and why they're important. So second part is the different types of roadmaps that you can create with examples. So you can see the differences and pros and cons of each. And then we'll go into creating a roadmap, which is the exciting part to what are the components of a roadmap? And how do you actually step-by-step create a roadmap? And then we'll just conclude by looking at these different topics and making sure that we understood. So why roadmaps, the product vision becomes a really crucial part before you embark on even looking at roadmaps. And for any organization, That's the first thing you want to look at. Second, you want to look at the strategy and how you go about achieving the product vision. And there's all this theory be milestones within that tool. Look at that. And then just to be clear, the roadmaps have very different to the operational aspect, which would be your product backlog for the product. So just making sure that distinguish. So there we can distinguish between a product roadmap, worst operational part, then roadmap examples. So the different types of roadmaps that you can have, we'll look at three different types. So here I've shown you now next later horizon, that's a certain type of road map. But all three types eventually lead. You, should lead you to the product vision. And then the really cool part which is creating roadmaps. So there are three components, but we'll go into detail later on. One as a strategy. What's your approach? Then? There's the different components that make up the roadmap. So that can be quantitative data, jobs to be done, pain points, et cetera. And then the types of roadmaps with we will use to represent the roadmap for the stakeholders that we have in the company. Always liked this up as a sitting, as in my courses. So in this scenario for the roadmaps, let's imagine that you are a product manager for a Fintech startup, which is pretty cool. You just put yourself in there and say you've got some products. Yeah, let's say it's to do with international payments. Providing additional payments at a low cost for the product potentially allows you to convert foreign currency. And maybe there's a digital wallet. And then maybe there are some big and native apps. You're in charge of love. And obviously you gotta come up with three to six months roadmap and a longer-term roadmap as well. And let's say this company has a vision which is to simplify payments, currency trading, and authentic options by everyone. And that this sitting, we can go about looking at what is the roadmap and y. And then we can look at how can we look at all the different types of roadmapping, roadmaps that are out there, the ingredient, and then actually go about creating an example using the setting. So hope you find this useful. Thanks. 2. Intro & Why roadmaps?: Hey, run. So now we'll look at the introduction to product roadmaps and y product roadmaps. So it's getting to that most companies start off. And there have an end vision or in golden site and that got milestones in between to reach them. And that can be the overall company journey. When we talk about product roadmaps, we're talking about a product journey, hitting to that product vision. And in this example, we have a vision which is to simplify payments, currency trading, and authentic options for everyone. And if we look at most, there are companies out there. If you can just look in the real world who've got, for example, most car companies accelerating towards drug of the tunnels cars. We've got fintech companies again, virtual wallets and open banking, and all of those end goals. Essentially, we'll have products that will help them get there. And for each product you need a roadmap. And the roadmap is nothing but a set of milestones on that journey to get to that envision. So again, I'll setting, as we spoke about earlier, we've got we are product manager and authentic. And they've got a vision, simplify payments. And so how can we take this and understand why product roadmaps are required in this context, in this example. So the purpose of the product roadmap, essentially as we discussed, is to map out the strategy. And essentially it gives you confidence for conference for the company. So it gives a competence for the company to help. So that you're showing them that you've got a pathway to reach the vision. The other purpose is really to understand the needs of your users. So how will you drive the commercial success of your products to ensure that the commercially, that the product commercially viable. And you'll reach your end users to reach the product vision. And then the third part of the product roadmap is really there to inspire your team members. And this is really important because having a clear roadmap and then being able to share that with your team and other stakeholders will obviously inspire them and keep them on that one part to reach the product vision. So there are various components to a product roadmap. The first part, which are all of your KPIs, your measures, and your strategies. We'll get into the middle of that later on. The second part is your all about your customers, how well you understand the pain points, the jobs to be done, and the market research. So you know who you're targeting and who you're not targeting. And then once you've identified that, what would be your success metrics and what will be your commercial pricing plans that you've put in place? And then your iterations Muslims and lastly you investments and resources. Because I obviously become a key aspect to your product roadmap to help you deliver that product roadmap. And then we can, I guess, look at the product roadmap versus a backlog. So we've discussed this before, that the backlog is really your list of items, tasks, and actions to achieve your roadmap. That then that's not really your roadmap. Your roadmap is really something very different, which we'll come to in molecular types of roadmap. So hope you got a good idea on what the, I guess the why. It's important, because ties into product vision and strategy. Minute comes down to the purpose of your roadmap. How there to really inspire the team. And yet really understand your users and to help really help achieve that vision. And then all the components that we spoke about that make up the product roadmap. So I found this useful and will. In the next session, we'll look at the different types of product roadmaps. 3. Roadmap types & examples: Hey, runnable. Now we'll look at the product roadmap examples. So the different types of roadmaps. So let's get into it. So types of roadmaps. So the first is a feature-based roadmaps. So these are basically broken up so you can represent as features. So we'll look at that. And then the next one is a noun next later, more high-level, easier to communicate. And then the theme and outcome-based. So these are very customer and value-driven roadmaps. And then a quick conclusion. So it's getting to so feature-based Story Maps. So here you have, you've got Tom going across. And all you have in each time period are epics or features. And you may have seen these before. They're quite easy to put together. They can be quite detailed as well. So you've got to quarters and as you're going out into the future, you're less certain about some of the features that are dropping that you may want to meet. But this is a very simple, but probably a little bit more detailed roadmap, bizarre. And you can also get your stakeholders to wrap your head around them, especially if you're define the feature as well. So the pros, as we discussed, easier to communicate. It's detailed. So some of the features, if you are wanting to pursue down a feature-based roadmap, you can get quite detailed, but the features, so you know, if you have questions around and you can, you can answer them. And the cons are, though, it is very uninspiring, feels very robotic. It lacks customer comes because you've gone down and very, very almost solution-based roadmap. There fuels are locked in as well. You can see it's almost like a Gantt chart and solutions over value. So while it's simple and easy to communicate in nature, and it's, yeah, I mean, it has a lot of cons. So let's look at an example. So come back to our example of being a product manager in FinTech company. I've put together some features and very high level. So of course you can expand this out to be very detailed features and medic. And that apec for that high epic level can be born detail. Easy to see. And you can also see that the dates are almost feels like you very time-bound. So if you do want to pursue this kind of roadmap, you may want to add a bit of detail to the epics was you've gone down the solution route. You it does give you the option to prioritize, so maybe don't lock in anything past Q1 and just kinda keep the wrist or open for privatization. Yet don't communicate dates, roadmaps, and you want to keep it as abstract as possible. You don't want to lock them in and don't dismiss ideas as well. So you can always allow people to, depending on the tools are you using, allow people to add ideas and then you may want to elaborate those ideas further with them. So those, that's a feature-based roadmap as an example. So let's look at the next one. And now next and later roadmap. Quite cool because you can get a P sheet of paper out and you can keep a very high level. So you gotta run that and it looks something like this. And in the now, which is kinda happening now in the next month, within the month and the month. And then next is kinda wanted three months and then latest to just 61 plus. And this kinda roadmap is really simple and easy to communicate, can play around with what goes in there as well. So again, there's no timeframes, know like certain time-frame if you keep that now next later, you can also remove the whole time frame concept out of it as like simple. And, and it's easy to visualize, like we said, can be edited and communicated easily. And you can have multiple of these romantic and a product one, you could have a tick one. You can actually nice see, play around with these really simply in a physical road-map as well and gather lots of ideas. So the cons, yeah, It's very high level. And you may wanna eliminate a certain stakeholders because it might change quite a bit and requires the UCC requires a lot of maintenance as well. Okay, so now let's look at this roadmap as an example. So I've added features for the next and later unless just to show what it could look like. And again here for the later the future aspect, you could always add a lot more and you can collaborate with other stakeholders. So what do you wanna do that this kinda remember, you want to take this approach. You're gonna share wildly with the product team and punish other stakeholders and even reviewed frequently as well. You might want to lock in the now that you may want to review the wrist quite frequently to get lots of ideas as well. Don't want to add again, don't know timelines and dates. You think with this one particular, you don't want to discuss too much detail. You want to keep a quiet high level just to have that flexibility of adding lots of things. An e-mail, like I said, you can you may want to have multiple of these roadmaps. So one product, one per tick. So hope you got a sense of what now next, later or map looks like. So now we'll look at the theme or outcome-based roadmaps. And this one I particularly like because they're actually values-driven or customer value driven. So again, you've got time going down the, but them's going across. And potentially, you may want to group these things or you may want to bundle them up. And with this roadmap in really looking at specific things that you want to move, want to improve. Maybe it's metric. Maybe it's a specific customer value that you're driving for. So pros, it's very customer-driven. It's tied to the strategy. Yep, you can type really losses to the strategy. He had the details a little bit different. It's not solution-based at, on feature-based. It's really to look at, okay, what are the things that will help us move? So might be, we'll look into an example soon, but it might be like No. You may want to go after a certain revenue target and you may want to see because you may want to increase customer engagement in a certain area of the product and really get into the specifics. You may can also become really good time to involve your team to come up with these metrics. So they have a sense of, okay, now, we're actually driving some of the changes in the product. And only con, is it requires a lot of collaboration and agreement to get the metrics right. But as a product manager, you should be able to do this quite easily. So let's look at an example. So I've got some themes here. So depending on what teams you want to target and what metrics you want to target. You could just look at one theme run on boarding. So it can be like a faster onboarding experience, less than five minutes. And you may have identified that it takes up to 20 minutes and you may want to just sat, there could be an entire theme for the next one quarter or two quarters. Or it could be around support. So it could be around in that chat support option. And it may be multiple things that you may have identified. Or it can be something around APIs. So expose APIs, for example. So really by trying to get to the detail of what you're trying to move and what you're trying to improve. It. It can be really, really enriching experience in this roadmap. So, so again, we're going to focus on the metrics. You want to be clear on the customer value and thus requires a lot of collaboration. And you can, once you've had a ternary, maybe you want to get your team involved. You can really get them involved as well. So yeah, if you have too many themes at just becomes diluted, mad too many metrics and you're going after and you don't want to keep it a height to 100. We can see here, I've purposely put an in-app chat support option, but that might be too high level, right? Because you may want to say no reduced call center time by three hours or reducing number of calls coming in to the support center by three hours. And that can be the metric and it can be solutions out of that. So you'll want to get to the actual metric that you want to improve. And then your roadmap was really centered around that. So hope you've gotten a sense of what a theme-based roadmap would look like. So in conclusion, three things. Essentially know your audience. So you know what roadmap want to pick then you know your customer. So you understand what you're, what you're driving for them, then you can choose the right roadmap is that she needs and then be aware of the pros and cons depending on what format you choose. And this is essentially a so I hope you enjoyed that. 4. Creating a roadmap: Hey, run. So now we'll look at creating product roadmaps. This is actually exciting parts. Let's get into it. So what are the steps to create a roadmap? Now that you've seen the tops of roadmaps and why it's important to have a roadmap. How do we create one? So the first step, as we discussed before, is to understand the vision of the company. The second step is to define the strategy and how you go about achieving that vision through your product. And then third one is work on the component of your product roadmap. Then of course, choose the type of road map for your stakeholder. If you go through these steps and you can go about creating an effective road-map for your product. So first is it dig into the vision. So we had that high level vision that we were given. But if he or she dig in, maybe we speak to some stakeholders within the company, the founders, and maybe some other people. And you find out that there's actually more going on there with division and there's a whole bunch of things that potentially the company is trying to achieve. And I've expanded on it here. And maybe the fundamental thing of this vision is to actually is the last part which is fundamentally improving financials is duration of everyone. Maybe that's, that's what the company is really going after. But there are also keen to do that, all the other bits as well. So the first step is really to validate inquiry and share the vision with other stakeholders, might be a couple of lines and might be one line. And once you have that, you can really go about narrowing down. And how are you going to achieve that. Second part is to define the strategy. So to really understand the market needs the unique selling position, which is a USP, and the goals for a product. If you get these right, you'll be able to define the strategy which will help you achieve the vision for the company and then create a product roadmap. So let's look at the examples here. So let's say in the strategy was identified that the market is really 18 plus consumers in the US and Europe. The USP is to provide a cheapen, best in class service. Because you've looked at some competitors and you found that the really the USP and the differentiator is having the cheapest and best in class service. And then maybe the goal is to a few things, but that potentiates to do with cryptocurrencies and to provide a secure platform and maybe world-class service as well. So next we'll look at the product roadmap components. We've seen this slide before where I've mentioned the importance of the KPIs, the strategy, and then the really the users and the market recession, the pain points that you want to identify, and then the commercial in resources required. So let's look at that in detail. So first step is really to understand the and jobs to be done for all of the users and new market. So understanding the pain points will really make your product that much more robust. And then to identify the success metrics for your product. And then of course, your price points and your pricing plan. Now all of these, hey, require a course on its own, but I'm giving you a sense of that it is important to understand your customers really well and then send some of the metrics that will drive this your product. Once you've arrived with your strategy and your components, you may want to start off with the now next later roadmap as a first step. And as we've discussed before, it's a really simple way to create a roadmap and start that dialogue. And as we discussed earlier, maybe we look at the product vision. We realized that there are some additional things in their product vision that we weren't really aware of. And you may want to start discussing some really new ideas in the future. So maybe savings bucket, authentic education, because our vision really was around, um, you know, enabling people with their finances in the future. And that was part of that vision as well, their long-term vision. And once you've collaborated with your stakeholders in the now next later roadmap. And once you've had a robust discussion, that may give you a chance to give you some time to think about theme and outcome-based in the short to medium term roadmap, where you may want to an undefined value and the real customer value in some of the and some of the themes that will help you get to product vision. I hope that gave you a sense of how create a product roadmap by following the steps of identifying and making sure that you understand the product vision and the company's vision. And then going into some of the components and the goals and objectives. And then finally coming down to the types of product roadmaps that you can pursue to create an effective product roadmap. And that's essentially how to go about creating a product roadmap. 5. Conclusion & summary: Hey, run, if you made it this far, you've completed the class. So thank you so much for going through this. So quick conclusion in summary, and as we've discussed, always like to put you in the role of a product manager. You really understand what it feels like to be part of that role. And as we discussed, his company and division had some products in a task of creating a roadmap. And we kinda went through the various steps, which is really interesting. And I guess it would conclusion really is to understand the vision as we discussed, purposes and fallen, the components and all the different examples. The roadmap types we saw is to really know your audience. So you know which roadmap to use food, which audience that are correct up audience, and then know your customer so you understand the value as well. There will be a new product roadmap and the pros and cons of each. So we looked at a few tops are roadmaps and each habits own pros and cons and the do's and don'ts, and he had to stick to each one. Finally, my final message to you all as again, to get this right is to dig into the vision, define your strategy, spend time, a lot of time and components. And then finally, choose the roadmap type for your stakeholders. So I hope you found this useful. Thank you, Thank you very much for going through this with me and I'll see you in the next class.