25 Must-Read Books for Product Managers & Product Marketers
Are you new to the world of product management and product marketing? Or maybe you just want to pick up a few new reads to expand your skills? Instead of browsing the bookshelves at your favorite local bookshop and choosing one at random, take a look at our list of the best product management books and product marketing reads for tried-and-true recommendations from the PMM community. Product Managers Why read product management books? Product management is an ever-evolving field. Whether you’re a complete newbie hoping to learn the ropes or an experienced IT product manager trying to keep up with changing trends, product management books have a lot to offer. Here are five benefits you can gain from reading some of the best product management books: On the job training can teach you what to do, but books help you learn the ‘why’; They can teach you the theory and reasoning behind the practices, and research shows that we all perform better when we understand why things are a certain way. Product management involves a lot of jargon and unique technical terms. The top product management books can help you grasp the lingo, so you’re comfortable using it and understanding it at work. Reading is proven to help improve memory and focus. If you’re struggling to learn product management through other means, like podcasts or videos, then books may be a great way to take in and remember relevant information. Studies show that reading books also improves your communication skills. As a product manager or product marketer, a huge part of your job is communicating with team members, customers, and other stakeholders. Product managers must always be looking for new ways to improve their products and offer new innovations to the market. The must-read product management books on this list can help you discover new methods and better processes while also boosting your creativity. We’ve broken down our top product management books into four main categories: The best product management books for beginners The top books focused on user experience (UX) and product development strategy Must-read books on web design and usability The best books for product managers wanting to perfect the product development process Product management books for beginners 1. Cracking the PM Interview: How to Land a Product Manager Job in Technology Authors: Gayle Laakmann McDowell & Jackie Bavaro While Cracking the PM Interview isn’t exactly new (it’s from 2013), it has remained on Amazon.com’s list of bestsellers in technical project management for quite some time and is currently holding the #1 spot. This book is more than a primer on which interview questions to prep for or how to write a killer product management resume (although this book covers both). McDowell and Bavaro get to the core of what the position of a product manager really is. In it, you’ll get to examine the role from all sides to learn not only how to land a job, but master your daily responsibilities and advance your career as well. 2. Escaping the Build Trap: How Effective Product Management Creates Real Value Author: Melissa Perri Released in 2018, Escaping the Build Trap covers essential product management principles that can be applied to any company, no matter the size. Perri, the author, is the CEO of a product management consultancy, and she brings a wealth of hands-on knowledge and actionable advice to her readers. Rated 5 out of 5 stars on Amazon.com, this book offers value to beginners and experienced PMs alike. Containing only 200 pages, it’s a relatively quick read, packed full of product management wisdom. 3. The Product Manager's Survival Guide: Everything You Need to Know to Succeed as a Product Manager Author: Steven Haines Just released in 2019, the second edition of The Product Manager's Survival Guide maintains all the value of the first, but now with more actionable advice, techniques, and tools for success. Follow this book's blueprint for graduating from novice to confident product manager. Start by understanding the keys to success, then learn how to become a product expert and customer advocate so that you can effectively manage your teams, increase productivity, and further your career. 4. Product Management for Dummies Authors: Brian Lawley & Pamela Schure Part of the “for Dummies” series, Product Management for Dummies is a useful and popular book for product management novices. Written by two product management experts, this easy-to-understand guide is full of essential and actionable info. This comprehensive reference offers easy-to-understand explanations of the essentials of product management, from defining the product life cycle and creating a winning product strategy to gathering customer feedback. With a 4.5 star rating, this book is clearly an essential addition to your product management toolkit — whether you're a novice or intermediate product manager. 5. The Product Book: How to Become a Great Product Manager Authors: Josh Anon & Carlos Gonzalez de Villaumbrosia. Based on Product School’s curriculum, The Product Book introduces product management students and beginners to key PM concepts and practices. It’s a helpful resource for anyone considering taking on more formal product management education but unsure whether it’s the right career path. Full of recent and relevant examples from huge well-known companies such as Facebook, Google, and more, this 294-page book will help bring product management to life. Books about user experience & product development strategy 6. Inspired: How To Create Tech Products Customers Love Author: Marty Cagan The latest version of Inspired was released in 2017 and has 4.5 stars on Amazon.com. Like the initial version, it’s a ‘masterclass’ book on how to design and develop better products. But, this release embraces new techniques and practices to ensure it’s still fresh and useful to product managers today. Unless your product is valuable, usable, and feasible, it’s not worth building. So says Marty Cagan, whose book takes you through how you should decide which products and designs to pursue, how to prove your proposed product will be successful, defining a minimum viable product, and juggling the conflicting needs of execs, customers, sales, engineering, and design. 7. User Friendly: How the Hidden Rules of Design Are Changing the Way We Live, Work, and Play Authors: Cliff Kaung & Robert Fabricant Voted Amazon Best Books of 2019 Pick and Fortune Writers and Editors’ Recommended Books of 2019 pick, User Friendly is a must-read for anyone interested in product design and development. The authors map out how user experience (UX) has evolved and changed our world over time in a story-driven style that’s engaging to read. It’s an insightful piece that might make you look at UX and product development in a whole new way. 8. Beyond The Prototype: A roadmap for navigating the fuzzy area between ideas and outcomes Author: Douglas Ferguson Beyond The Prototype is all about what to do after you complete your first design sprint, and the optimistic enthusiasm starts to wear off. Author Douglas Ferguson tackles the struggles many teams face after getting to prototype and how to overcome them. Using compelling stories from popular companies such as Adobe and Google, this guide walks you through six essential steps for successful product launches. If you want a usable framework to help take you from idea to product validation, you’ll find it here. Web design & usability books for product managers 9. 100 Things Every Designer Needs to Know About People Author: Dr. Susan Weinschenk The second edition of 100 Things Every Designer Needs to Know About People was just released in June 2020. In it, Dr. Weinschenk uses her 30+ years as a behavioral psychologist to offer strategies for improving your site's user experience and boosting conversion. Design isn't just pretty, it's purposeful. You want people to respond to your website in a certain way, or take a specific next action? Learn why people act the way they do. What grabs their attention? Is peripheral or central vision more important? What’s the best length for a line of text? What fuels people's actions? Read this book to find out. 10. Don't Make Me Think, Revisited: A Common Sense Approach to Web & Mobile Usability, 3rd Edition Author: Steve Krug While Don't Make Me Think, Revisited hasn’t been updated since 2013, it still remains Amazon.com’s #1 Best Seller in their User Experience & Web Usability category. First published in 2000, this bestseller is still an essential guide for web designers and developers. The updated third edition includes fresh examples and a new section on mobile usability, plus tips to make navigation intuitive, user testing efficient (so you can do it more often), and your user experience seamless across all devices. 11. Designing with the Mind in Mind: Simple Guide to Understanding User Interface Design Guidelines Author: Jeff Johnson Just released in October 2020, the 3rd Edition of Designing with the Mind in Mind is a refreshed version of an essential guide on usability and user interface (UI) design. If you’re a product manager involved in digital design projects, looking for a crash course in UI principles, this is the book for you. From this book, you’ll gain a basic understanding of why user-interface design has to follow certain rules and the perceptual and cognitive psychology behind the guidelines. You’ll also have a better grasp of why your design team makes some of the choices they do. Books on perfecting the development process 12. The Toyota Product Development System: Integrating People, Process, and Technology Authors: James Morgan & Jeffrey K. Liker Just released in October 2020, The Toyota Product Development System takes a deep dive into what makes Toyota one of the most forward-thinking product development companies in the automotive industry. This book compares and contrasts the world-class product development process of Toyota with an unnamed US competitor to help emphasize process best practices and how they can impact your business success. 13. Product Lifecycle Management (Volume 1): 21st Century Paradigm for Product Realisation Author: John Stark The 4th edition of Product Lifecycle Management, released in October 2020, offers an expanded version of this cornerstone text. It’s been updated to reflect important technological advances and how they’ve impacted the product life cycle. This must-read guide covers everything you need to know about product life cycle management (PLM), from the main components of PLM initiatives to best practices and environmental considerations you need to keep in mind. 14. Building For Everyone: Expand Your Market With Design Practices From Google's Product Inclusion Team Author: Annie Jean-Baptiste Building For Everyone is about how you can build better products by focusing on promoting diversity and inclusion in your workforce. This practical guide will walk you through how to follow Google’s footsteps of building a Product Inclusion Team to improve your design process. After reading this book, you’ll know essential strategies and processes for executing more inclusive product designs that will help increase your company’s profitability. Plus, it includes real-life recent case studies on what does and doesn’t work so you can avoid the mistakes of those who came before you. 15. Inside Your Customer's Imagination: 5 Secrets for Creating Breakthrough Products, Services, and Solutions Author: Chip R. Bell With 5 out of 5 stars on Amazon.com, Inside Your Customer's Imagination is a must-read for anyone looking to improve their product development processes. Author Chip Bell walks you through proven processes for designing and developing breakthrough products your customers don’t even know they want yet. With the use of examples from big-name companies like McDonald’s, Lockheed Martin, and Marriott, Bell illustrates how partnering with your customers can help you discover a treasure trove of innovations and process improvements. 16. Build What Matters: Delivering Key Outcomes with Vision-Led Product Management Authors: Ben Foster & Rajesh Nerlikar In Build What Matters, authors Ben Foster and Rajesh Nerlikar walk you through their methodology for building products that will meet current and future customer needs. This guide emphasizes the importance of the customer in product development and introduces ways to always keep that fact top-of-mind. This book will introduce you to 10 dysfunctions common to product development processes and then walk you through tactical ways to avoid these traps. Whether you’re a start-up founder, a product leader, or a high-level executive, you’ll find actionable advice in this book that can help improve your business processes. Top books for product marketers We’ve divided our top product marketer books into two main categories: The best books for helping you fuel customer adoption Must-read books about product marketing strategy and best practices Books on fueling customer adoption 17. Hooked: How to Build Habit-Forming Products Authors: Nir Eyal & Ryan Hoover Hooked is a guide for product marketers, managers, and designers about building products that people want to use. It includes insights into creating user habits and understanding behavioral techniques. Plus, you’ll walk away with actionable advice on how to build and market products that people will love. In this book, you’ll learn a four-step model for building customer habits so that users willingly come back for more, over and over. This guide brings technology, psychology, and business together in a way that will improve your product marketing outcomes and boost your customer adoption and retention rates. 18. The Four Steps to the Epiphany Author: Steve Blank The Four Steps to the Epiphany is commonly thought to be one of the most influential business books of all time. In this updated version, released March 2020, author Steve Blank brings even more insights and relevant examples to the table. Too often, development teams build a product, and when customers don’t bite, they scrap it and try again. Instead, Steve Blank focuses on Customer Development — a concept that’s since become one of the three pillars of the Lean startup. Learn how to pinpoint the right product for your specific market, using techniques that have helped launch over 10,000 startups and corporate ventures. 19. The Sales Acceleration Formula: Using Data, Technology, and Inbound Selling to Go from $0 to $100 Million Author: Mark Roberge The author of The Sales Acceleration Formula, Mark Roberge, is an MIT alum with an engineering background that he has applied to sales and marketing. In this book, Roberge promotes the replacement of conventional sales methods with a more metric-driven, process-oriented approach. From this book, you'll learn the techniques Roberge used as SVP of Worldwide Sales and Services at HubSpot to help the company grow from a small, three-person startup to a giant success with a billion-dollar valuation and over 15,000 customers. 20. The Unicorn Project: A Novel about Developers, Digital Disruption, and Thriving in the Age of Data Author: Gene Kim The Unicorn Project, a highly anticipated follow-up to the bestselling title The Phoenix Project, is written as an engaging novel, but that doesn’t make its messaging any less true or relevant to real-world product marketers, developers, and managers. Gene Kim is a multi-award winning CTO and the founder of Tripwire. In this novel, he introduces five ideals required for product success and discusses internal structures every technology company needs. Books about product marketing strategy & best practices 21. Product Marketing, Simplified: A Customer-Centric Approach to Take a Product to Market Author: Srini Sekaran Product Marketing, Simplified is a comprehensive guide on the world of product marketing. Whether you want to learn more about improving product launches or delivering greater value to the right customers, this book is packed full of valuable info. This guide walks you through the entire product marketing process, including how to understand the customer journey, build a go-to-market strategy, determine pricing and packaging, and influence the product roadmap. 22. Marketing of High-Technology Products and Innovations (3rd Edition) Authors: Stanley J. Slater, Jakki J. Mohr, & Sanjit Sengupta Marketing of High-Technology Products and Innovations provides a comprehensive introduction to the world of tech marketing. This book explains all the variables you'll need to consider when launching a product, as well as the logistics for managing the process. From migration paths and types of innovations to managing customer relationships, you'll find a good balance of theory and real-world examples to get the knowledge you need in the world of tech marketing. 23. Building a StoryBrand: Clarify Your Message So Customers Will Listen Author: Donald Miller Building a StoryBrand will introduce you to seven essential elements of powerful stories. By using these elements in your product marketing, you’ll be able to improve customer engagement and boost your success rates. This guide breaks down seven story points that resonate with every human, the reasoning behind why customers make the buying decisions they do, and how to create the most effective branding and marketing messages for your product and business. 24. Swipe to Unlock: The Primer on Technology and Business Strategy Authors: Neel Mehta, Aditya Agashe & Parth Detroja Swipe to Unlock was written by three product managers at Facebook, Google, and Microsoft, and it’s one of Amazon.com’s #1 Best Sellers. This is a must-read book for any product marketer, product manager, or consultant in the tech industry. The latest edition was released in 2019 and includes over 40 pages of new content. It includes a wealth of case studies on huge companies and covers essential product marketing topics such as current and future trends, emerging markets, and more. 25. To Sell is Human: The Surprising Truth About Moving Others Author: Daniel Pink Whether you’re pitching a colleague on a new idea, convincing your manager to support a passion project, or trying to sway a customer to switch from freemium to paid, we all spend our days trying to move others to act. In To Sell is Human, bestselling author Daniel Pink teaches you how to truly understand another person’s perspective and craft clear, persuasive marketing messages. What’s next? Are you interested in learning what is a product owner, product management, and product marketing? Maybe you’re looking for a special niche topic you didn’t see mentioned in any of these books? Check out our blog to keep up-to-date on all the emerging trends and latest technology in the product management space. You can also test out our product management software free for 14-days to discover how it can improve your product management and marketing teams.
Are You a Plugged-in Manager? Find Out In Our Interview with Terri Griffith!
Terri describes a game-changing approach to management that is based on the concept of being plugged into each one of the organizational dimensions — people, technology and organizational processes — simultaneously. Oftentimes, managers underemphasize one of the components; say, they address the people and organizational processes, but overlook the technological dimension. Or conversely, some consider technology to be a lifesaver, and the only thing they need to focus on. The balance of people, technology, and processes is something that I think is really important for any organization. I refer to this triangle in my previous posts. So it was a pleasure for me to meet Terri and discuss this topic, as well as find out more about her new book. Naturally, our conversation went way beyond defining who exactly qualifies as a "plugged-in manager", as we proceeded to talk about the role technology plays in modern business. To learn more about the concept of a plugged-in manager, learn the best ways to leverage technology, and hear some interesting examples from Terri's experience (as well as my own) I invite you to read the transcript of our conversation in this blog post. And now we want to know: In your work, do you put more emphasis on people, processes or technology? Do you consider yourself a plugged-in manager? P.S. You can get your own copy of “The Plugged-in Manger: Get in Tune with Your People, Technology and Organization to Thrive” on Amazon. Transcript below: Andrew: Hi everyone, it’s great to hear you on our podcast today. And let me introduce our honored guest. Terri Griffith is a professor in Santa Clara University's Leavey School of Business. Located in the heart of the Silicon Valley, she studies how we mix together the technology of work (everything from telepresence to the size and type of tools a crew would use to build a fence), the way we organize to do this work (virtual teams, collaborative leadership, innovation strategies), and the knowledge, skills, and abilities of the people we work with. Terri has just released a new book called “The Plugged-In Manager: Get in Tune with Your People, Technology, and Organization to Thrive.” The book addresses an important topic that’s very relevant to what I usually write about: how we become more productive, how we work together both in the same office and in virtual teams. Terri, it’s definitely an honor and pleasure to have you here today with us. Terri: Thank you very much! Andrew: Let me jump straight into the questions. And the first one, I think you can already guess what it is. Could you tell the listeners who exactly the plugged-in manager is and how he or she is different from most managers we see. Terri: First I’ll say that anybody can be a plugged-in manager because I think individual contributors, as well as managers, teams and even organizations, can be plugged in. They make sure that, as they think about an organizational practice, as they think about getting their work done, they think about the people — so what the skills are that the people have, how long they’ve been in the organization, the kinds of things they like to do. They think about the technology tools that they have available to them. So, like you said in the introduction, everything from telepresence to collaboration tools, to the kinds of tools we would use to build a fence, all those are the different kinds of technologies that we have at our disposal. And then what are the organizational process issues that we need to address as we think about the work that we’re trying to get done. A plugged-in manager is somebody who’s going to think about all three of those at the same time and going to understand that you have to mix them together. So if we’re going to use a particular technology tool, we may have to provide some training, and it may work out better if we have a certain kind of individual that we’ve already hired. On the other hand, if we have a bunch of expert employees, we may not have to provide so much training. So the people would reduce the amount of organizational processes we might have to deal with, even though we were choosing a pretty sophisticated technology. I think the big difference is plugged-in managers, plugged-in organizations, they don’t seem to think about there being a magic bullet — that if I just had that technology, or if just hired that one person, or if just changed this one organizational process. They know that’s never going to work, it’s always going to be some combination of the people, the technology and the organization that really make something work well. Andrew: I absolutely agree with you. This triangle of people, tools and processes is definitely crucial. And in my career, I’ve seen a lot of organization overemphasizing or underemphasizing part of that. My opinion is that people definitely are the cornerstone in that. Because, obviously, people make the choices on tools and processes, but other components, nevertheless, are also very important. Do you share the same view in terms of priorities between those three? Terri: I’d say those priorities are right, but I’m thinking about Andrew McAfee’s new book “Race Against the Machine” or even Jonathan Zittrain’s book, where they talk about how a lot of our work is being taken over by the technology itself. You know, an algorithm might be choosing what articles are going to get presented on a newspaper, rather than an editor. And so, at the tail end of the whole distribution of how we might think about how the choices get made. I’m going to say people play the biggest piece because they are generally the ones doing the work. But I think as we move into the future, we’re going to have to keep a pretty open mind. Is it a technology that’s making this choice for us? And it may be the case that, originally, it was people who wrote the code that is making that choice, but it’s going to become more of an open question as we move forward. Andrew: Yes, that’s definitely an interesting view. I’m a big fan of AI (artificial intelligence), so definitely one thing that I see on the market today is the concept of the big data, right? That we accumulate more and more data, and we come up with more and more sophisticated algorithms to process that data and build intelligence out of that data. So that’s an interesting angle. And one other insight that popped in my mind is that, obviously, some people are key to the success. But then processes and tools actually help them influence other people on the team. It’s kind of an interesting flow where you may have a champion, somebody who is either creative or smart or experienced or versatile in change management. And then, through the use of tools and technologies, they actually multiply that knowledge or culture power. Going back to the plugged-in manager and to your definition, do you see many managers right now who you could say are really plugged-in, or is there still a way to go for all of us? Terri: I’m not sure about you because the technology your company is putting out is pretty plugged-in, in my perspective. But I’m a little bit sad to say that it’s more rare than it is common for me to get into a conversation with someone and to immediately be able to say: “Wow, that person gets it, that person’s completely plugged-in.” We collect a lot of data about this, and we continue to collect it because we want to make sure we have a tool that will help us assess different levels of how plugged-in you are, and then hopefully we’ll be able to change the kind of training and workshops to be based on the kinds of results that we’re getting. While a lot of people think they are plugged-in, when we actually put them in situations where we want them to make choices, often they are biased toward taking the shiny technology. And they’ll go rank a technology solution higher than a solution that includes the technology, the organization and the people. We’re doing whatever we can to make that change, and we would like it to be really common for somebody to sit down and say: “All right, we have a new team project we need to do. What are the technology tools we are going to use, who are the people that we need to have on this team, and what’s our process going to be? Is it going to be a very face-to-face kind of process? Is it going to be more virtual? How are we going to approach the problem? And just have it be super common that everybody goes through that kind of three-point checklist of people, technology and organizational process. But I’m not seeing that yet. Andrew: I like Gartner’s hype curve. They do an aggregate, but even when we look at the particular person or organization, oftentimes what happens is they get excited about a shiny tool, but they hope that the tool will solve their problems by itself, and they don’t make their organizational challenge, and then it drops, and they become naysayers. They become the other part, and they develop a culture of “everything is already invented.” Then I talk to those people and ask them: “Do you remember the time when we didn’t have mobile phones, Skype, e-mails, so it makes them think. If you put it in perspective, technology does change our life. You can’t delegate everything to the technology. You have to control the process, but technology does change our life in a big way. Starting from something that we consider everyday, like giving a phone call and air travel and obviously e-mail and everything else. As we look at it, more and more work becomes informational work. And that actually goes hand-in-hand with that trend of the big data that we’ve just touched because it reinforces it. There’s more and more informational work, the information systems become more and more sophisticated, and there are more and more helpful tools. Back again to the plugged-in managers, I think this concept is very important. But why do you personally consider this is a game-changing approach to management? Terri: I think it goes to the number of organizational changes, either technology changes or organizational process changes that fail. And the number hasn’t changed in decades! We’ve been collecting data about organizational change failure for a long time. The number hangs around 50%. So 50% of all organizational changes, either technology or process changes, don’t do what the people who set out to implement them think they are going to do. And generally it’s because they don’t manage the implementation process very well. Oftentimes, what they’ve done is they thought: “Well, if I just make this one silver bullet adjustment, and I parachute this change in, everything is going to be different.” And it just doesn’t work that way. As a result, that’s just painful as a professor of organizations to stand up in front of a class and say, “Here are all these ideas about great things you can do to improve your organization, but by the way, 50% of the time they are not going to work for you,” I would like to see that change. It’s almost painful, too. I was giving a talk on this issue last night, and they asked, “Why would you spend two years writing a book? And I said, “Because it’s painful for me to see the situation where someone’s only focused on one of those three issues.” I thought about the United States TSA, our transportation safety authority that brings us all that fine effort that we go through, as we come to the airport. And for the most part, that was a technology change. That was: “We’re going to run this technology, and the technology demands that you take off your clothes, and the technology demands that you take off shoes. And we’re going to focus on that technology.” I think all the fighting and unhappiness that goes along with going to the airport now didn’t have to happen if they had thought about their stakeholders a little bit more and thought about how they could integrate stakeholder needs into the process that they need to make airport security good. But they didn’t think about it that way, as far as I can tell from reading the external reports. Andrew: Yes, I think that’s a great point. Now, in your book, you speak about three key practices for the plugged-in managers. Can you please briefly describe them for the listeners? Terri: Absolutely. The way I like to describe it is that here we’ve been talking about 3 dimensions: the people, the technology and the organization, and then we also have these 3 practices. So if we just keep in mind the number 3, maybe it’ll all help to stick a little bit. So the first one is “Stop, Look, Listen,” and even though it has three words in it, it’s still just one practice. But the idea is that you stop and you look. Can you say who are the people who are going to be impacted by this? What is the technology that we’re talking about? What do I have available to me already, or what might I need to go buy, and then what’s the organizational setting that this thing has to go into? By stopping for just a moment to reflect on what the current status is, and what the opportunities are that are out there, what the different choices are. And I think that keeps us from grabbing for that shiny thing and forgetting about all the rest. So if we just say to ourselves: “I’m going to go into this process. I’m going to think about a new way of doing things.” First thing I’m going to do it, I’m going to stop and look, and then after I take that first step, I’m going to start to listen. Well, I took the first step. What was the feedback from that? And is it going well, or do I need to make some adjustments? So “Stop, Look, Listen” is the first practice. The second practice is really the most powerful one, and this is the issue of mixing, mixing together those 3 ingredients: the people, the technology and the organization, in a way that makes sense. And I’ve shown this a couple times, as putting out on a table all the different ingredients for a chocolate chip cookie, and if you look at those ingredients, some of them are pretty tasty on their own, but for the most part, we’re going to have a better outcome once we mix it together. We’ve got to mix it together in the appropriate proportions for what we’re trying to achieve. And so mixing becomes the key. I like food a lot, so mixing and thinking about mixing a great meal or mixing a great dish is the way I kind of keep that one in my head. And then the 3rd practice is — really, you were talking about it a little bit — how do you multiply or leverage your advantage? And it’s through sharing. Sharing is the 3rd practice, and I’m going to kind of think aloud as I work in a team setting or think aloud as I talk to a group of executives and say, “Always look how every time I assess a situation, I’m always looking at the people, the technology and the organization. And always see how I’m trying to figure out what the blend is. I’m not going to try and change everything all at once, but I’m going to change a few things as I go along, and then gather up the feedback. But as I talk aloud about that process, I share the process, I’m doing 2 things. The 1st is that I’m spreading the idea of how to be a plugged-in manager, but the other one is, as I teach that idea through sharing, it means that the next time we go to make an adjustment, they are already going to know what we have in mind. I won’t have to implement the idea of being plugged-in, as well as implementing whatever the changes are that we’re looking at. Instead, they are already going to be aware of that part. So sharing is an important one, if we want to expand or leverage the impact that we can have in our organization. The 3 practices are “Stop, Look, Listen,” the reflective piece; then mixing, which is really where the heavy part of the process takes place, to really find out what a good combination is going to be; and then sharing, just to make it easier down the road. Andrew: Those are indeed great practices. There was the PMI Global Congress in Dallas, and I was invited to speak on virtual teams, and I brought out the topic that in virtual and distributed teams, a lot of communications are asynchronous, compared to the team that is co-located in one office. And in that environment, sharing is really crucial because you not only want to tell people what to do, but you also want them to understand your thinking. Exactly what you said, thinking out loud, so they know your reason, and even though the communication is asynchronous, and you are not necessarily there to make the decision for them, when they need to make, it they know your reasons, so they can make a similar decision, so it’s very aligned with what you’ve just described. So in your opinion, this approach, does it differ between SMBs and enterprises? And if so, how? And if we’re speaking about enterprise, will it work for all levels, or does it differ as we start speaking about enterprise-wide changes and things like that? Terri: I think it’s just an issue of scale. So in a small or medium-sized business, it will be easier to demonstrate the process. Even if it’s a small organization that is virtual, it’s just easier because you’re talking to fewer people. You have more opportunity to clarify what your meaning is and clarify the approach. But even at an enterprise level, some of the top executives have the skills that they’ve learned to be plugged-in through experience, they’ve learned over time, and they are already practicing these approaches. They may not be calling it plugged-in management, but they’re certainly doing it. And as I think about executives at Microsoft that I got to talk to for the book, that would be a big organization looking at how to manage a virtual team between Washington and China. Then if I look at some of the startups that I was able to talk to in the book, they’re all doing the same practices, it’s just the matter of scale. In the larger organizations, and I’m thinking about Nucor Steel — as I say, Nucor Steel, the largest steel company in the U.S., and I think the largest recycler in the world (metal recycler). And for them the process that I would describe as being plugged-in, to them it’s just the new core way of doing things. They’ve been building that approach since the 1960s, and it actually came from the top, which I think may be a little bit rare. Often what I see is people in the middle of the organization find that these are good approaches, and then as other people see their success, they learn from that. So it’s almost a top or bottom-down of that process in larger organizations. If you are a big enterprise, and people are practicing plugged-in management, that’s a lot of leverage, very successful. Andrew: Now I only have a couple questions left, one would be, could you share with us some interesting anecdotes that might illustrate concept of your book or your research? Terri: Certainly. I often think about sailing, as a process that helps people learn about being plugged-in. I have a sailboat, and I have a crew of other people on their boats. A sailboat itself is a technology, and so if you think about the size of the sails, the size of the mast, the size of the boat, everything has to scale appropriately. Also because I’m a woman, I’m not as strong as some of these big football-player-looking guys who might be on the America’s Cup boat or something like that, and because of that I have to use more pulleys. I have a lot of pulleys on my boat because I don’t have that much strength, but I can use the technology to increase the strength and increase the benefit of the strength that I do have. Sometimes in class I’ll draw a picture of a sailboat that has 2 sails, and then I’ll draw a picture of a sailboat that has 3 sails, and we’ll talk about the difference. As for someone who isn’t a football-player-strong person, it’s harder to pull up one really large sail. Maybe I’d be better off pulling up two smaller ones. How do you make those choices, and how do you keep those choices top of mind? And it really does back to this idea of reflection. If we’re just charging ahead, we’re not going to be thoughtful and think about the different options we might have. So if we do that “Stop, Look, Listen” practice, we’re going to think of a few more options and maybe make a slightly better choice. Then the other example I have is probably a little more standard. Here at the university, we haven’t been all that modern about our own collaborative practice. As you can imagine, as somebody who writes about collaborative practice all the time, it’s been a frustration for me. But we’re finally moving ahead and looking at our communication and collaboration and even workflow. And I’m getting to practice these very things myself. I’m the chair of this university task force on communication and collaboration. And I can see why some people are drawn to simply make a decision and move ahead quickly. We keep pulling ourselves back and saying, “No, let’s not focus on the technology, let’s focus on the work to be done. Keep those examples top of mind. And then we’ll bring in the technology as we need to.” Both of those, both the sailing and this collaboration task force have been great learning experiences for me. Andrew: Yes, I think that sailing was a great metaphor because oftentimes people just go with the flow, especially if the user of technology and the decision-maker are not the same people. If their CIO chooses the software for business users, they are not necessarily going to be the most happy and productive with the defect or the most marketed choice, or the most feature-heavy choice, or the most complex choice. So that’s an interesting metaphor because they are not those football players oftentimes; they just want to get the work done. So applying your ideas about plugged-in managers, I know you already gave a lot of good advice. Before the closing, what would be the final advice that you’d give to project managers and business managers for getting their work done more efficiently. Terri: It’s all going to come back to the “Stop, Look, Listen” idea, but once you’ve done that “Stop, Look, Listen,” and you’ve moved into mixing together what your choices are, the simplest way I have of describing that is you don’t have to be an expert, you don’t have to be a technology expert, you don’t have to be a management expert, you don’t have to be a people expert, but what you have to do is have an appreciation for all three of those being important, and then to be able to put yourself in the shoes or in the minds of the other stakeholders and really think about the work design as a negotiation. We all negotiate. We either negotiate well or we don’t, but we all at least know how to do that. And think about the organizational change. The thing that you’re looking at, as you’re trying to be a plugged-in manager, think of it as a negotiation and have the different issues of the negotiation that you have on the table be all those different options. So is it going to be a big team or a small team? Is it going to be a team that has core members, or is everyone going to be equal? Are we going to use this kind of collaboration tool or that kind of collaboration tool? Are we’re going to have experts on the team, or is everybody coming from the lower levels of the organization, and they’re going to have to learn on the job? And what’s the negotiation that I might go through that’s going to come up with the solution, that’s going to be best for us? I like to take a practice that we already understand at least a little bit, and so if everybody’s done a negotiation, then everybody has done a little bit of this mixing that I’m talking about. Andrew: I think that’s great advice to wrap up, and I welcome all listeners of the podcast and readers of the blog to go to amazon.com and check out Terri’s new book “The Plugged-in Manager.” There are both hard cover and Kindle versions available, and if you like the book, feel free to leave a great review on Terri’s work. Terri, thanks a lot for your time today. I hope the readers will enjoy it, and I hope the rest of you day will be great! Terri: Thank you so much. I’m going to go tweet about the conversation because you made me think about some new ideas!
How to Build a Killer Growth Engine (Work Management Roundup)
It's Friday, November 20th. That means Hunger Games: The Mockingjay Part 2 is being released in theaters across the US — which is more relevant to work than you may think. After all, your company is competing against others in your industry for customers and capital — you're Katniss in your own right! Here is our roundup of links that will give you and your organization an edge over the other "tributes." May the odds be ever in your favor. How to Build a Killer Startup Growth Engine (Dan Martell): Entrepreneur Dan Martell shares the formula for creating a killer growth engine: it's a great marketing strategy + product story + product marketing. Study Links Daily Coffee Habit To Longevity (NPR): Rejoice, coffee addicts! A new study by the Harvard School of Public Health says that people who drink 3 to 5 cups of coffee a day have a 15% lower risk of premature death compared to non-coffee drinkers. And even decaf drinkers see benefits. You Have 70,000 Thoughts a Day. This is How to Organize Them for Maximum Productivity (Quartz): With so much going on in your head, how do you manage it all? Here are five steps to organize and declutter your mind so you're on track for a productive day. How to Be Good at Managing Both Introverts and Extroverts (HBR): Some excellent tips on balancing the needs of different personality types in your team. Best tips: promote privacy, and rethink the workday (eg: no meetings before 12:30 PM). What Entrepreneurs Can Learn From Steve Jobs About Silicon Valley (Fortune): Wrike CEO Andrew Filev answers the question "How important is it for startups to be in Silicon Valley?” More Work Management Reads Think About This: The Cult of Productivity is Preventing You From Being Productive (Quartz) Retailers Failing When Using Social Media to Answer Complaints (Forbes) Don't Believe These 5 Leadership Myths That Undermine Your Confidence (Entrepreneur) How to Run 4 Miles When You Really Don't Want To (Jon Acuff) Go Try This: How to Be Confident and Reduce Stress in 2 Minutes Per Day (James Clear) 10 Marketing Mistakes to Avoid at All Costs (Slideshare) The Simple Technique to Fit a 40-Hour Workweek Into 16.7 Hours (Fast Company) Browse The Work Management Roundup on Flipboard If you use Flipboard on your mobile device, then you can choose to read these links via The Work Management Roundup magazine. View my Flipboard Magazine.
How to Set Up a Freelance Agency
When you have more clients than you can possibly handle within a 40-hour workweek, it may be time to delegate work to freelancers like yourself, and turn what was once a humble solopreneur business into a full-fledged freelance agency, managed by you. But only if it makes sense.
What are Super Cognitive Foods? And Other Reads To Help You Work Better (Work Management Roundup)
Today is Friday the 13th, the subject of many an old school superstition and many a horror movie. If you're stuck in the office today feeling terribly unproductive and a tad superstitious as to why, then we're here with the Work Management roundup to turn your horrible day into a day for productivity education. Read on for more inspiration! The Superfoods That Are Actually Superfoods (Medium): Are there foods that can really help you focus on your work right now? Yes! Dave Asprey lays out some “super cognitive foods,” which include butter, coffee, vanilla, and chocolate and explains how non-inflammatory foods help you. (This is not an excuse to stock up on peanut butter M&Ms!) Things You Can Do to Grow More Brain Cells (Lifehacker): On the subject of brain enhancement: a recent TED video by neuroscientist Sandrine Thuret explains how our brains can grow new cells through activities such as learning and running. Spend More Time Managing Your Time (Study Hacks): Cal Newton schools us on the need for deep thinking about your commitments. You need to block off some time in order to plan out how you will tackle your tasks this week. 10 Free (and Nearly Free) Ways to Spur Business Growth (Social Media Today): Andre Bourque lists 10 strategies that startups need to use to grow quickly and corresponding tools, most of them free. The Buddhist Priest Who Became a Billionaire Snubbing Investors (Bloomberg): This 83-year-old billionaire Buddhist priest Kazuo Inamori built up Japanese electronics giant Kyocera, and his attitude toward investors is decidedly "un-Western". His advice: Forget investors. Instead, spend time making staff happy. In his own words: "If you want eggs, take care of the hen." What Not to Do at a Business Lunch (Fast Company YouTube): And before you go out to eat, watch this humorous take on the business lunch and how to avoid spiraling into cringeworthy terrain.. More Work Management Reads Think About This: Doing Good Tech Versus Doing Good with Tech by Bryan Johnson (Medium) The Power of Routines in Sustaining Creativity (Fast Company) The Purpose-Driven Workforce Is 42 Million Strong (Fast Company) 8 Genius Ways To Make Your Small Business More Money This Holiday Shopping Season (When I Work) Go Try This: If You Want to Become a Leader, Start Acting Like One (Inc) The Positive Impact of Creating Limits (The Next Web) 62 Tips From Y Combinator’s Startup Instruction Manual (TechCrunch) The Complete Guide To Skyrocketing Your Customer Service Skills (When I Work) Browse Marketing Speak on Flipboard If you use Flipboard on your mobile device, then you might enjoy our links to all things digital marketing via our Marketing Speak magazine. View my Flipboard Magazine.
![Understanding the New Work Rules [Part 2 of 2]](https://web-static.wrike.com/cdn-cgi/image/width=900,format=auto/blog/content/uploads/2016/10/PREVIEW-understanding-the-new-work-rules-part-2.jpg?av=9cee71f7d5a37022e3d4e112d4c1c2d7)
Understanding the New Work Rules [Part 2 of 2]
Trying to list all the various ways that work has evolved in the last two decades would be impossible so instead, here is part 2 of the 10 rules which should help anyone navigate the constantly shifting waters of work. Think of these as the new work rules — our 21st Century Work Rules.
Bootstrapping: Definition, Benefits, and Tools
For some companies, bootstrapping is the first choice when it comes to expanding or innovating. Using funds from the firm's internal operations allows owners to retain their firm's equity while reinvesting profits into more profitable ventures. But you may be wondering, what is bootstrapping? In this article, we’ll help you better understand what the term bootstrapping means, as well as its benefits and challenges. Keep reading to discover tips and must-take steps that will lead your business to bootstrap success at any stage. What is bootstrapping? Bootstrapping is a word that originated in the early 19th century. It became a lasting symbol of success. The concept of being able to pick yourself up by your bootstraps is a metaphor for overcoming the limitations of life. In business, it means overcoming the limitations of traditional financing. Bootstrapped companies are traditionally defined as those that get off the ground without external funding. Google and Facebook are two of the biggest examples of this. The word bootstrapping in business also refers to the process of developing complex software programs in various stages. But for this article, we define bootstrapping as building a startup company with little or no outside support. Instead of starting with a blank check, a bootstrapper uses their own personal savings or loans for initial funding. Bootstrapping is a strategy that involves taking on significant financial risk, which is one of the many threats to startup success. It can be very challenging to get started. The entrepreneur is more likely to have total control over all aspects of the business, which includes but is not limited to sales, marketing, and operations. The biggest appeal to bootstrapping is its ability to establish a safety net for future investments. Entrepreneurs can experiment with their brands and products without the pressure of investors or venture capital. On the other hand, there is a lack of credibility to bootstrapping despite its known success stories. This can prevent a business from obtaining the support of respected investors later on. When it comes to funding a startup, the entrepreneur’s mindset must be different than that of a venture-funded company. For instance, while the former expect to be around for a while, the latter believe they will have high business growth and therefore need outside funding to fund their exit strategy. Entrepreneurs who choose to bootstrap must have a wide variety of skills and experience to succeed. Creating and maintaining a culture of excellence should also be part of their core values. What are the benefits of bootstrapping? For some people, it's a decision about how much they should retain to maximize their gains. Others believe that they should keep all of their capital to maximize their returns. And, there are also some other people who are simply looking for a way to get started without taking on external financing. By paying back these debts, you can start to grow your business and avoid incurring any costly late fees or interest. And after you reach this stage, you can start looking towards future expansion (theoretically) sooner than if you had gone with a bank loan. There’s also the ownership aspect. Some bootstrappers have a desire to retain all of the company's equity and receive all of its profits. Plus, bootstrapping has a much lower barrier to entry compared to the alternative. So it’s an attractive option for new entrepreneurs or people who want to get their idea off the ground as soon as possible. Another advantage is that bootstrapping is not just for startups. It’s a strategy that can be executed later on in the life of your business too. This is true even if you've already held an equity financing round. While some major shareholders might object to the use of company profits for new ventures (unless they receive a dividend payout), bootstrapping can still provide the same benefits as long as everyone is on board. Companies that benefit the most from bootstrapping include: Early-stage companies that do not require large amounts of capital Serial entrepreneur companies, which are typically started by former employees turned entrepreneurs What are the challenges of bootstrapping? Bootstrapping your company requires that you have a strong belief that your business can gain significant value quickly. It also means having an unwillingness as a business owner to give up decision-making powers to outside investors, no matter how tempting it may be down the road. For these reasons, having the right mentality is one of the biggest challenges of bootstrapping. In fact, being a bootstrapper puts you at greater risk than you might think. If your venture doesn't go well, potentially losing the friends and family members who invested can be devastating. When your company needs an extra boost to expand or meet a one-off cost, it might be time to consider alternatives to bootstrapping. There are many types of finance available for businesses, and it's not just one type of loan. Knowing all of this might make keeping your nerve even more challenging, but it’s important to fully understand what you’re getting into before moving forward. How to bootstrap your startup There are quite a few bootstrapping methods to come up with your own business funding. However, here are some foundational steps every business should take. Step 1: Know what stage you’re in You're either a beginner who is doing it on your own while also working another job, or you’re at the stage where crowdfunding and a personal connection with your audience provide most of your financial backing. If you're neither of those, then you're likely at the growth stage, and you can focus on credit or expanding your offerings. Step 2: Create a roadmap It is best to break a big idea into several parts and then execute it piece by piece. Doing this will allow the startup to execute smoothly. This should include gathering your essential tools, your investor pitch deck, and your team if you're choosing not to go it alone. You then need to outline both the practical steps that will get you from point A to point B and your philosophies or mindset behind your approach. The latter will help differentiate you from the dozens of other pitches your potential investors are considering. Establishing a successful long-term strategy is a key element to building a successful startup. Step 3: Consider proactive solutions Bootstrapping assumes a high level of risk, which is why you need to plan ahead and create contingency plans now before something goes wrong. Ask yourselves what problems do you know of that other bootstrap companies have experienced? What about other bootstrap companies in your industry? What will your team do if these come up at any point during your own bootstrap phase? Step 4: Consider building a team Even adding one member can help your bootstrapped business grow faster and more efficiently. For example, having a great co-founder can help you get more funding, spread the work out, and avoid tunnel vision. If you don’t have anyone in mind, try using a startup networking site to meet new people. Remember that our first employees are the ones who will help make your business successful. Make sure that your team is motivated and committed to your goals so you can maintain a high level of standards and business continuity. Step 5: Use a lean model Before you start working on a product, you need to make sure that it is a viable product that can be used by early customers. This is also the time to learn about your product and its customers. This model works seamlessly with the nature of a bootstrapped startup because it requires minimal financing and is typically faster than a traditional startup approach. Step 6: Get real about finances If you're bootstrapping a startup especially, then you’ll need to discuss your financial situation with your co-founders. Don't go overboard with expenses—there are plenty of ways to cut costs that startups have done successfully. For example, if you're not afraid to try new things, then you might want to consider taking on a side job or even buying used office equipment instead of brand new gear. You could also start a home-based business by avoiding renting an office. This is also easier today due to the rise of online communication. Consider applying for grants sooner than later. And keep up the practice before, during, and after launch. Tips for getting bootstrap funding Work with an angel investor. Angel investors are individuals who are able to provide advice on how to start a business or get your products on the market. If you're a new startup entrepreneur, having the expertise and experience of other startup professionals could be very beneficial. Remember, it’s not about you. It's about doing the right thing for your business and your shareholders. That should be the number one motivator you share with partners. Always think big picture. If you can keep up with your cash flow and clear any debts that you owe, you will be able to keep your company running smoothly for the long term. Getting this vision in writing will go a long way towards impressing potential investors. Start small. Even if your business requires a lot of capital, even some small form of investment can help you get started. Follow your expertise. Getting started with a new venture can be challenging if you have little or no experience in the industry or have no idea how to market it effectively. This is why it is important to create a company that’s already established in a certain industry or a specific area. Prioritize creativity. If your product or service is easy to replicate, a larger company with more resources can steal it and scale it much faster. Potential investors will be able to see that from miles away. Do market research. Before you start investing in your small business idea, it is important to validate that your target market will pay for it. Bootstrap and startup tools you can't go without The top must-have tools for bootstrap and startup companies are project management software, website creation platforms, and SEO tools. Project management software Project management software like Wrike is essential for showing potential investors an actionable roadmap they can feel confident about. Wrike is a collaboration tool that works seamlessly across all types of businesses. It has bootstrap-friendly features such as visual project map tools that make it easy for collaborators to see exactly what you have planned and how you intend to execute on it. This allows you to manage the wide variety of bootstrap-related projects you’ll have going on all at the same time. As an added bonus, your team can easily sync and collaborate across all your devices in real-time, so everyone stays on the same page even when working with third parties such as freelancers. Plus, it’s secure and will keep your data safe. Website creation platforms Even running an offline, local business can be challenging without a strong web presence. However, you don’t need to spend thousands of dollars on an expensive web design agency. It’s possible to build a website from scratch using an intuitive website builder such as WordPress or Wix. But either way, having your own domain and website is a must for proving the legitimacy of your business. SEO tools When you can’t afford paid search ads and collaborations, you have to rely on organic efforts to reach the right audience. That’s where SEO comes in. Although it takes an investment of time, a solid SEO strategy and the right combination of tools can land you above your competitors for high-earning search terms on Google. Every bootstrapped entrepreneur should use: A keyword suggestions tool for finding competitive targets A domain analysis tool to see where your strengths and weaknesses lie A website crawler for uncovering technical SEO ideas Getting started with cash flow is an important step in any business. Bootstrapping can help you avoid running out of money and control your debts at any point during your company’s lifetime. Use the right tips and tools like Wrike to get your bootstrap strategy started today. Begin your free trial.
Every Startup Needs a Market: The Wrike Story
Every business needs to understand its market before it builds its products. Startups must provide a solution that no one else is providing, to ease a pain point that is real and relevant. Ideally the solution is so meaningful that customers fall all over themselves to pay for it. In an April 2014 Inc.com article, digital product strategist Neil Cabage named this the number one criterion that every new startup must consider. But how? This is where professional market research comes in to help you figure out if there is a real market need for your product or service. And while access to research information may not come cheap, there are other ways to get a pulse on your audience, such as conducting informal surveys and polls. The alternative is failure. If a business doesn't have a market, or doesn't know who it will be marketing to, it will flounder trying to find an audience. If they find one in time, luck is on their side. If not, they will likely close their doors. Answering the Need for an Efficient Collaboration Tool Let's take the example of our own company. When Wrike started out as a small side project of CEO Andrew Filev's, it had a built-in market already: itself. From a recent profile article on Forbes: "We started as a collaboration and project-management vendor and then as we were working on managing our clients’ projects, we realized the need for something bigger. We needed a tool to help us collaborate better. So we created Wrike to solve our own problem,” says Filev. The great thing was, the need for a more efficient collaboration platform wasn't just specific to Wrike and its initial customers. It was, and still is, a common enough problem among fast-moving companies, so much so that customers actually raise their hands to get onboard. Again, from the Forbes article: Most of Wrike’s customers come through word-of-mouth and online. They don’t have to cold-call businesses. And while they have a tiered subscription model to fit any budget, most of Wrike’s customers come straight to their Professional or Enterprise Plans because they already have experienced the pain that comes with project management and are ready to try new tools to make them more effective and efficient. If your startup identifies a market need, and can provide a solution that solves that problem, you're one step closer to success. The only thing missing is: get that product out ASAP! Read the full Forbes article here: Andrew Filev's Wrike Wants to Bring Project Management and Collaboration to the Masses Image credits: "Customer" by 10ch on Flickr.