Ten Product Management Tips for Social Enterprises

The mission alone cannot drive your product, your business or your goals.  You need a distinct strategy to be able to win over the purchasing power of the people that will, in the end, be buying your product.  Think about the market, the need and what you will overcome after all the sweat and tears have been poured into your product.

1. Do your market research

Is there a need for the product you are trying to build?  Have you looked into the competition in the market?  Let’s look at a couple of key factors when building a product in the social enterprise space.  If you are selling a product, what makes your product stand out to the competition?  Do you have better pricing?  Is the product that you are selling an upgrade to whatever is already on the market?  Was there a distinctive pain point for a user group you are trying to solve?

2.  Find your competition

We are all competing in markets that already have a semblance of something we have created, or trying to create.  What did you do that gives you a competitive advantage over the ones that are already in the market?  Do you have the first player advantage?  Will you be the first to market and gain the shares based on the idea and product you set forth?  If not, have you looked into the strategy of second player advantage?

3.  Dominate by Research

At this point, you probably have a lot of unanswered questions.  Do not move forward on a gut feeling.  Also, academia is great but do not build a business case off of that alone.  Once you have identified the problem you are solving and the way you would like to solve said problem, start getting answers from your users.

4.  Build a prototype first

Design.  Design.  Design.  You can have the best idea in the world.  But if your users don’t know how to navigate through the product, all is lost.  Build a clickable prototype on Invision or a mockup on Whimsical.

5.  Test your UX/UI

You can use something as simple as Google Forms to build a response mechanism to gather great feedback.  If you are more advanced at your stage use something like Alpha to get pointed feedback very quickly.  You should also listen to their podcast to hear about product management from other thought leaders.

6.  If you are a non-profit or a for-profit, look for grant funding

The game has changed.  Both foundations and government institutions are more open to the social enterprise space and will accept proposals from a wide variety of organizations.  If you have done your research and have data to back you up, take advantage of one of these opportunities.  I recommend starting at a national level or connecting with your local Social Enterprise Alliance chapter.

7.  Launch in agile releases

Agile Product Management is an industry standard throughout software companies.  But the strategy and values should not be limited to just software.  Focus on collaborating better, and innovating faster, than ever before.  Do not try to build out your entire idea.  Start with what matters most, a minimum viable product (MVP) to get your champion users on board.

8.  Continuous improvement

We all have a runway in where we are expected to launch great products that stick with the heats and minds of consumers.  Continuously get feedback from your market.  Go where they go.  Ask them out for coffee.  Have a pizza party.  Do whatever fits your consumer base to get the best and brightest insights from the people that are using your product.

9.  Scale your product

Now that you have the research, the prototype, the MVP, and the feedback on your product, you should have the insight on what comes next. Fix what needs to be fixed, talk to the funders that will enable your vision to the next stage, and continually keep reaching out to your users, and have a data analytics software to see your user pipeline.  I will always recommend Google Analytics as a first approach because it is free, easy to implement, and will give you all the data you need as a new product.

10.  Love the experience

Trying to save the world is tough.  Things are not always going to be the way they seemed.  Sometimes the solution you manufactured will not solve the problem at hand.  But you tried and you learned.  It’s ok to repeat steps one through nine on a different product, or a different problem.  Sometimes failure teaches us more than anything else.