I see a lot of product managers make temporary decisions and processes, so they can get back quickly to the old normal. They plan to get back to normal in their lives and in the product management space.
The thing is – it is an old normal. The world has changed. We all need to adjust to a new reality. When the quarantine is over, we will not find the world to be the same.
We, as product managers, need to change our products immediately to meet the customers’ expectations and win the fight for a client. Yes, it will a fight for each client – new and existing. The crisis is here, we cannot ignore that.
What we can do:
✅Analyze the historical data of the past crises. It will give you all the answers, but it can give you the information to think about: what industries got the most hit during the past crises. What were the stages of the crises?
✅Cut the costs. Analyze the costs of your product. Make a plan A, B what can be cut off. If you spend money on the software/tools nobody actually uses and needs, cancel the subscription. If there are cheaper or free alternatives, explore. Reach out to your vendors, ask for a discount. It never hurts to ask.
✅Explore new ways to acquire new customers. Consumers and businesses change their habits and way of life. It can bring new ideas on where to meet your prospects.
✅Revise your roadmap. Make sure it is relevant. Don’t create features because you planned to do so. Revise each feature to make sure it is the best you can do in the new reality.
✅Build your team. Don’t rely on getting back to the office. Build your remote team in the current setup.