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Learn how to set effective product line objectives and convince stakeholders of their value. This guide provides key points, preparation steps, and lessons learned for product managers to secure resources and prioritize their product lines in a resource-constrained environment. Drawing from mentorship experiences, it offers insights gained during internship stages to help product managers navigate in the right direction.

Imagine your boss or product director gives you this task:
"Due to resource optimization, the company needs to reduce 5 product lines to 4. Your product line A happens to be on the list. Please convince us in 5 minutes why your product line A shouldn't be cut."
The essence of this task is to set objectives for product line A for the next quarter (or half year) to secure sufficient priority with limited resources.
This may be one of the most crucial tasks for a product manager. As my boss told me:
"If you can't explain this clearly, you'll never have a clear direction for your work."

Key Points

  1. How much benefit can you bring (quantify the total benefit)
  1. On what basis (ensure your estimation method is well-grounded)
  1. How do you plan to achieve this goal (what are the time and resource costs)

How to Do It

Prerequisites

  1. You have completed several projects and have clear evaluation conclusions (or colleagues can provide similar existing facts)
  1. You have most of the key data for the product line (e.g., you've already pulled important metrics like traffic sources, user behavior, and conversion rates through BI)
  1. You understand the product line better than most people (e.g., you've done competitive research, user log analysis, or multiple iterations)

Preparation Steps

  1. List your main goals
  1. Identify the current metrics for each goal
  1. Based on experience or predictions, determine how subsequent actions can best achieve each goal; list the benefits (or benefits + probability) these actions can bring
  1. Combine these to form objectives
  1. Finally, list the time or resource costs of these actions
To summarize:
Goals + Metrics + Expected Benefits (Probability) = Objectives

Some Lessons Learned

  1. It's not about "reporting to the boss," but "giving yourself a direction for work"
  1. Even if you can't articulate a specific work plan, at least provide: clear benefit expectations, a confident probability, and the time or resource costs for exploration
  1. Doing scattered projects for a whole year is not as valuable as doing even a week's work in the right direction!
Finally, thanks to my mentors and leaders for their careful guidance!
Mastering Product Planning through Baidu Keyword Mining: A Comprehensive GuideThe Ultimate Guide to Goal-Oriented Project Management: Strategies for Success
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Zhenye Dong
Zhenye Dong
Product Manager | New Dad | New Blogger
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