Product Outcome Thinking

Product outcome midset focuses on the results or effects of a product, not just how it's made. Output means the amount or efficiency of what is produced. Outcome is about how effective and impactful the product is for users. This approach looks at achieving specific results that match what users need and what the business aims for.

Why Output vs. Outcome?

- Output: Measures the amount or efficiency of production, focusing on how well something is built.

- Outcome: Looks at the results and impact, focusing on how the product benefits users and meets objectives.

Shifting from output to outcome ensures efforts lead to meaningful results, not just efficient processes.

The Process to Set OKRs (Objectives and Key Results)

1. Define Objectives: Objectives should be inspiring and aim for the desired impact. For example, an objective might be to make the checkout experience so great that more customers complete their purchases.

2. Identify Key Results: Key results are specific, measurable outcomes. For instance, a key result could be increasing the checkout conversion rate.

3. Create Hypotheses: Form ideas about how changes will affect the outcome. An example might be: "If we make this change, it will increase the conversion rate for online shoppers by 10% in seven days."

4. Prioritize Hypotheses: Rank these ideas based on their expected impact to focus on the best ones.

5. Execute: Once OKRs are set, the product manager helps the team work towards them, making sure everything needed is available and any problems are solved.

6. Monitor and Adjust: Keep track of progress, learn from mistakes, and make changes as needed. If something blocks progress, learn from it to avoid future issues and keep feedback effective.

Execution and Facilitation

Product Manager Role:

The product manager’s role is to help the team work smoothly, solve problems, and support them to reach successful outcomes. They need to step back sometimes to see the big picture and adapt plans if needed.

Perspective on Failure:

Failure is a chance to learn, as long as the same mistakes aren't repeated. Addressing problems quickly and avoiding getting stuck helps meet goals.

Exponential Thinking:

This means taking risks to achieve big improvements quickly, rather than making slow, predictable changes. It can create a unique product that stands out.

Product outcome thinking is about achieving real, measurable results that improve user experience and align with business goals. Sharing successful methods and learning from experiences is key.