Building Products in the IT era
Building Products in the IT era
My personal journey in the product management
— Author: Vladimir Super-BusinessDad —
After graduating with a bachelor's in Economics, I embarked on my career journey in an investment fund. The next logical step led me to the banking sector. Everything felt routine, predictable, and somewhat familiar. But then, one day—'ring, ring'—I received a call from a software development company offering me a position. Well, it wasn't exactly a traditional phone call, but you get the idea. 😄
TL;DR
From an economics graduate to a career in finance, the journey takes an unexpected turn into the world of software development and entrepreneurship.
Through various side projects, including card games, mobile apps, and a hiking marketplace website, the author shares valuable lessons learned along the way.
Transitioning to B2B product management, insights are gained on the importance of sales, profitability, and problem-solving in building successful products.
Building Products for Banks
I joined a team tasked with developing software specifically tailored for banks. With my background, and as a business consultant now, I brought valuable expertise to the table. It was during this period that I had my first glimpse under the hood of the very tools I had previously utilized as a bank employee.
And that moment changed everything.
Understanding the inner workings of these tools and realizing my potential to contribute to products used daily by hundreds, if not thousands, of users was transformative. From that instant, I was certain: I wanted to immerse myself in the world of building digital products.
Side-Projects
After clocking out at 5 PM and returning home, my energy and drive weren't diminished. I had an insatiable need to create.
My journey began with a single website...
The First Website
I envisioned running an affiliate marketing business, but first, I needed a website to serve as its platform. Determined to make it happen, I delved into the complexity of web development: securing hosting, acquiring a domain, navigating Content Management Systems (CMS)... And just like that, the site was live and operational.
Creating a Card Game
I quickly realized that my creative endeavors didn't have to be confined to the digital realm. Fueled by my passion for building and my desire to contribute to a better tomorrow, I embarked on the journey of creating an educational board/card game: "Legacy of Wisdom."
This multiplayer physical card game allowed players to summon renowned scientists like Tesla and Einstein to engage in strategic battles against their opponents.
Fun Fact: My best man, who joined me in many of these ventures, and I spared no expense in commissioning professional designs for each of the 52 scientists' portraits, ensuring legal rights in anticipation of the game's blockbuster success and potential billion-dollar earnings. 😄
Venturing into the Digital Realm
The logical progression? Transforming the game into a digital mobile game.
That was a hefty undertaking. I had to dive into learning C# and the Unity Framework. Additionally, we invested some pocket money in purchasing digital assets for the game, including character frame designs, mechanics, animations, and more.
The journey was incredibly time-consuming. However, the moment we released it for testing and I realized I could engage in battles with my best man from 200 kilometers away, left me utterly speechless.
Diving into App Development
Next on my list? Crafting an app designed to decode what your friends and family secretly desire as presents, without them having to utter a word. Tackling this challenge head-on was daunting, but I was determined to start small and refine the solution iteratively.
The initial flow was straightforward:
Select the type of quiz you wish to send.
Dispatch it via the app to your friend.
Based on their responses, the app suggests potential gifts for your buddy.
But, once again, I found myself pushed out of my comfort zone. This time, I needed to familiarize myself with Java and master the intricacies of building an app in Android Studio. So, donning my learning hat once more, I delved into the process.
After a couple of weeks of dedication, the first shareable version of the app was ready. And just like Jerry Seinfeld in the GIF above, I was ecstatic!
Venturing into the Wilderness: Hike&Fun
My most ambitious project to date? Crafting a website tailored for hiking enthusiasts: Hike&Fun. This endeavor presented a slew of technical challenges, including:
Building a website equipped to accommodate two distinct user types: hikers and guides.
Allowing guides to showcase and promote their tours.
Facilitating hikers' ability to browse and book these tours.
From a business standpoint, Hike&Fun marked our first concerted effort to target a specific user base. We succeeded in having multiple listed tours (by guides) and requesters from hikers. Supply and demand were sparked.
But here's the kicker: Previously, we'd often been content simply to launch a product and hope for the best. Unfortunately, that approach rarely paid off. It wasn't until I realized that having a product is just the beginning of another journey — one focused on sales and marketing. Suddenly, the task shifted from merely making the product available to actively engaging with our audience. After all, if you don't shout from the rooftops about your product, it might as well gather dust.
Exploring the World of Business-to-Business (B2B) Products
In my current role, I proudly serve as the product manager for two B2B offerings. I delved into the intricacies of crafting one of these products in a previous piece (Decoding Logistics: Building Digital Products for the Logistics Industry).
Throughout this journey, I've uncovered a treasure trove of invaluable lessons:
Users ≠ Customers: It's crucial to distinguish between those who use your product and those who make the purchasing decisions.
Sales Matter: Product development is essential, but sales are equally vital. Understanding both realms is key.
Profitability is Paramount: Without profitability, long-term survival is uncertain.
Patience is a Virtue: B2B sales cycles can be excruciatingly long.
Problem-Solving is Key: Keep your radar finely tuned to detect customers' pain points, and craft solutions accordingly.
Building B2B products offers a unique opportunity to wield influence. By providing efficient solutions to other businesses, you empower them to enhance their offerings, ultimately benefiting a broader swath of society.
Immediate Action: Three Key Steps to Implement Now
Work on what you’re interested in in your spare time. Learn new things.
Explore the potential for side projects: Consider starting small ventures outside of your main job to fuel creativity and learning.
Embrace the learning curve: Don't shy away from acquiring new skills or diving into unfamiliar territories; each new challenge presents an opportunity for growth.
Prioritize sales and marketing: Recognize that launching a product is just the beginning; actively engage with your audience and promote your offering to ensure its success.
Final Words
Many of these ventures ended in failure. Each one taught me invaluable lessons, highlighting what was missing and paving the way for growth.
I thrive on the process of building products, constantly pondering new possibilities and nurturing a handful of ideas at any given time. My hands are always in the proverbial mud, and I relish the opportunity to learn and grow.
This perpetual cycle of creation keeps me energized and optimistic, infusing each day with a sense of purpose and excitement. 😎
Quote of the week
I would greatly appreciate it if you could share your thoughts on this subject in the comment section. The entire community can benefit from a variety of perspectives, helping us collectively find the best solutions.
If you have friends who might be interested in these topics, please consider spreading the word. The more minds we have engaged in these discussions, the better we can become as both businessmen and fathers.