You're facing a major product pivot. How do you get your executive team on board?

Provide a comprehensive analysis of the current situation, highlighting the need for a pivot. Use data and market insights to illustrate the challenges and opportunities, ensuring the executive team understands the urgency and rationale behind the change.

Strong discovery, so that it can help you to present a data driven case for the pivot. It will help you understand the market insights and trends based on that you can validate your assumptions and hypothesis. Apart from this, strong discovery going to help you in: - Stakeholder expectation - Risk and mitigations - Understand financial impact

Facing a major product pivot requires getting the executive team on board by first assessing the reality. Present clear data showing the need for change, highlight potential benefits, and address risks honestly. This transparent approach builds trust and aligns everyone toward a common goal.

Realizar um movimento de mudan?a estratégica em um produto é bem complexo, ainda mais quando se trata de um produto que já escalou e conta com uma estrutura de equipes e departamentos mais robusta. Trazer um retrato e uma estratégia baseada em dados e análises do produto e da rela??o dele com o ecossistema, incluindo os parceiros e concorrentes, poderá melhorar o engajamento de todos, mas também o mais importante que é o patrocínio dos chefes.

To get your executive team on board for a major product pivot, present a clear and compelling case supported by solid data, articulate the benefits and risks transparently, and foster an inclusive discussion to address concerns and gather input.

Develop a clear, actionable strategy for the pivot, detailing steps, timelines, and expected outcomes. Present a well-thought-out plan that addresses potential risks and benefits, demonstrating how this new direction aligns with the company's long-term vision and goals.

One of the most important things I can do is make sure my strategy is clear and well-informed. I need to be able to articulate the rationale for the pivot, the new product vision, and the steps required to achieve it. I also need to address how the pivot will benefit the company in the long run and outline the resources we’ll need. By presenting a clear and compelling case, I can help the executive team understand the need for change and get them on board with the pivot.

Build a Strong Case for the Pivot Identify the Problem: Clearly articulate the issues with the current product or market strategy. Use data and metrics to support your claims. Research and Validate the Opportunity: Present thorough research on the new market or product direction. Highlight potential benefits, such as increased revenue, market share, or customer satisfaction. Develop a Comprehensive Business Case: Create a detailed business case outlining the financial implications, resource requirements, and potential risks of the pivot. Important: Understand Your Executives Frame the Pivot Highlight Alignment with Company Goals

A MD/GM must recognize the need for a pivot and redefine the company direction. This requires a deep understanding of market trends, customer needs, and internal capabilities. The leader must set a new direction that applies these insights so the company is ready to take advantage of the new opportunities

A clear strategy is essential! ?? After assessing our product's decline, we need to develop a detailed pivot plan focusing on a new user segment with higher growth potential. By outlining specific goals, metrics, and resource allocation, we would be able to demonstrate the potential ROI and mitigate risks. A well-crafted strategy is your best ally in securing executive buy-in. #productmanagement #pivot #leadership

Executives are largely psychopaths decoupled from reality with no product experience that will stop at nothing to get themselves paid. Feed them a lot of buzzword terms like web 3, metaverse, or AI so they think your product will save the world and make them rich. After they are properly gaslit then you can focus on making decent products and your team has jobs and can support their families.

My experience has shown that passionate and effective communication of the new vision is necessary to win executives over to a significant product pivot. Organizing a storytelling session where I presented customer success stories and market trends that emphasized the necessity of the pivot was one efficient strategy I've employed. I was able to evoke confidence and enthusiasm by using realistic, accessible scenarios to illustrate the product's future condition. Additionally, the leadership team was able to understand the pivot's transformative impact and find the vision more attractive by employing visual aids like journey maps and mockups.

Clear and Concise Presentation: Develop a compelling presentation that clearly outlines the problem, the proposed solution, and the expected outcomes. Data-Driven Approach: Use data and metrics to support your arguments and build credibility. Visual Aids: Incorporate visuals like charts, graphs, and diagrams to enhance understanding. Storytelling: Craft a compelling narrative that resonates with your audience and paints a picture of the future.

Start by crafting a compelling story that explains why the pivot is necessary. This narrative should clearly link the pivot to changing market conditions, emerging customer needs, or new technological advancements. Explain how these factors converge to create a unique opportunity for the product and the company. Differentiate from Competitors: Demonstrate how the pivot will differentiate your product from competitors. Highlight unique features or approaches that will set your product apart in the marketplace. This could involve innovations in technology, novel applications of existing technology, or a unique business model.

1. Vision Clarity: Begin by painting a vivid picture of the future product landscape post-pivot. Use storytelling techniques to illustrate how the new direction addresses current market gaps and customer pain points. 2. Strategic Alignment: Emphasize how the pivot aligns with broader business goals and objectives. Showcase the potential for increased market share, revenue growth, and enhanced customer satisfaction metrics driven by the new product strategy. 3. Competitive Advantage: Highlight how the pivot positions our product uniquely in the competitive landscape.

Nunca é fácil pivotar um produto, e essa mudan?a pode, em alguns casos, n?o resolver completamente os problemas que enfrentamos. Por isso, é crucial buscar vários cenários e n?o se prender somente a uma única solu??o que pode resolver parcialmente o problema. O mapeamento dos fatores críticos é essencial para garantir que o novo caminho seja mais seguro e estratégico do que o atual. Isso inclui avaliar o tamanho e as capacidades da equipe atual em rela??o aos novos desafios que o piv? traz. Mostrar que é possível iniciar pequeno, testar e ajustar conforme necessário, pode ajudar a engajar a equipe executiva.

Anticipate Questions: Prepare for potential objections or questions from your executives. Provide Data-Backed Responses: Use data and research to address concerns and build confidence. Be Transparent: Acknowledge the risks involved in the pivot, but also outline mitigation strategies.

In my experience, getting executive buy-in for a significant product pivot requires proactive resolution of objections. I've found that having a proactive Q&A session where I discuss potential risks, expenses, and operational consequences is a useful strategy. Through the presentation of comprehensive contingency plans and mitigation methods, I demonstrated my meticulous planning and practical approach. I also built a risk-reward matrix to assist CEOs understand the wider picture by graphically mapping out probable obstacles against anticipated advantages. This approach not only allayed their fears but also showed that I had the strategic vision and was prepared to make the shift with ease.

All executives want is money, so distract them with made up figures in order to get them off your back and do what's necessary for the product. Throw out buzzwords like web 3, metaverse, AI or whatever is trending at the moment. They have zero clue what product is and just need to report to their bosses or shareholders that there are great returns in the future. Once they have their fantasy story to tell, get back to doing what's necessary to get your product in good shape so all your coworkers can have jobs and support their families.

Build strong relationships! ?? By fostering open communication and trust with the executive team, we were able to effectively communicate the urgency and potential of our pivot. Regular updates, transparent decision-making, and aligning the pivot with overall business objectives were key to gaining their support. #productmanagement #leadership #pivoting

To secure support from your executive team for a major product pivot, engage each member individually to address their concerns, highlight the benefits, and explain how the pivot aligns with company goals. Build a coalition of key influencers within the team to champion the pivot and create a sense of shared ownership and commitment to the new direction.

Personalized involvement is necessary, in my experience, to secure executive support for a product pivot. I once set up private meetings with every executive to talk about their individual interests and worries around the pivot. I generated sincere enthusiasm by coordinating the benefits of the pivot with their departmental objectives and incorporated their input into the plan. Additionally, I gave each executive specific, useful insights that illustrated how the pivot will take care of their unique opportunities and problems. This strategy not only won their support but also produced supporters who had a stake in the pivot's success.

“Show me the money!!!” - Jerry Maguire. Getting support from executives has less to do with the product pivot itself and more to do with the financial outcome and cost of the pivot. Make sure you know your numbers and present them when you pitch the pivot ????

Secure early buy-in. Involve key stakeholders early in the process to gather feedback and build support. Leverage champions within the exec team to advocate for the changes. Build a strong business case: Develop a detailed financial model outlining the pivot's expected ROI, revenue generation, and cost implications. Highlight the potential for increased market share and long-term growth. Show the market opportunity. Highlight the size of the new market, customer demand, and competitive landscape.

Regular updates and open communication are key. Celebrate small wins and be transparent about challenges. This keeps everyone motivated and aligned with the pivot's goals. Remember, a well-informed team is a successful team.

Pivoting a product can feel like trying to turn a cargo ship with a paddle. But getting executive buy-in doesn’t have to be a nightmare. Start by doing your homework—dig deep into market trends and user feedback as if your job depends on it (because, in a way, it does). Then, develop a game plan that’s as solid as it gets. The key is not to overwhelm them with data; instead, tell a story. Paint a compelling picture of where this pivot could lead and get them genuinely excited about the potential. Address any major concerns upfront—this shows you’re not just dreaming but have thought things through. Finally, keep everyone in the loop as you move forward. Nothing erodes support faster than going silent when the stakes are high.

Pivot with Purpose! ? Data-Driven Decisions: Leverage metrics & insights to justify pivot ? Clear Communication: Articulate the "why" & "how" of the pivot to stakeholders ? Manage Expectations: Be transparent about challenges & potential setbacks ? Visualize the Future: Paint a compelling picture of the post-pivot landscape ? Secure Buy-in: Address concerns & build consensus through collaboration *Pivoting is an opportunity for growth! #productleadership #pivoting #strategy