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Webinar Wrap-up: Making Smarter Decisions as Product Managers

  • Learn to develop mental models for better decision making
  • Product Management frameworks to help you make better decisions
  • Traps to avoid while making high-stakes decisions
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Arindam Mukherjee


Arindam Mukherjee
Senior Director of Product, User Experience and Growth
Flipkart

Arindam Mukherjee is the Senior Director of Product, User Experience and Growth at Flipkart. Armed with an MBA from Harvard Business School, he has more than 15 years of experience working at P&G and TripAdvisor. He has also founded 2 consumer internet startups in the past.

With so many decisions to make as a Product Manager, it’s very important to understand various frameworks to make decisions. Here are some of the  key takeaways from the session:

  • Second-order thinking: Your decisions will result in actions that you can mostly anticipate. But you have to think about the consequences of your decisions. Use funnels and loops to decipher that.

  • First-principles are foundational assumptions that stand alone. These principles cannot be deduced from any other assumptions. This thinking is required to break down complex problems into smaller ones and then go about solving them.

  • The 6-step process for First Principles Thinking
    1. Explain the origins of your thinking
    2. Challenge Assumptions
    3. Look for evidence
    4. Consider alternate perspectives
    5. Examine consequences
    6.Question the original question

  • When faced with a trade-off decision, map it on a 2*2 matrix with the two axes having competing forces. Check out the image below for the Impact v/s Effort Matrix that is widely used across Product Management functions to prioritize features.

Bucket your features (or even tasks) based on the 4 parameters as shown above and prioritize them as shown. First, deploy features that need low effort but deliver high impact. Then, move on to the high impact and high effort feature(s). Now, it’s important to to focus on features that deliver low impact but are necessary for the product. Deploy features that require low effort first and then for the last sprint, deploy features that deliver low impact but need high effort.

  • Traits of good Product Managers: Curiosity, Tenacity, Empathy, No ego

     

  • Inversion Thinking Technique: A way of thinking to uncover what you don’t want to go wrong. First, define the problem that you want to solve. Then, invert it. What would you have to do to guarantee the failure of your objective? Then, fix the same problem by preventing it from happening. This technique helps you figure out potential errors or roadblocks that may not be evident at first glance.

Watch his full session here – 

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