In this conversation, Francesca Cortesi and Rich Mironov discuss product managers' challenges in quantifying their initiatives and communicating effectively with sales and finance teams. They explore the importance of using the right language, preparing for sales conversations, and understanding the value of initiatives through rough estimations. 

Rich emphasizes the need for product managers to balance internal work with revenue-generating projects and effectively engage stakeholders. The discussion also highlights the significance of strategic planning and setting success metrics early in the product development process.

CHAPTERS

00:46 Navigating the Challenge of Quantifying Initiatives

03:46 The Language of Product Management and Sales

06.52 Estimating Value: The Importance of Error Bars

09:51 Preparing for Sales Conversations

12:48 Balancing Internal and External Work

15:43 The Politics of Product Management

18:50 Bilingual Communication in Product Management

21:56 Strategic Planning and Success Metrics

24:37  Concluding Thoughts on Product Management

TO GO DEEPER

Finding the non-negotiable in your priorities: https://www.mironov.com/product-pie/

How to quickly quantify one’s initiative https://www.mironov.com/digits/ 

OUR GUEST

Rich Mironov, 40-year product mgmt veteran

Rich has led product teams for 40 years, including six B2B startups and 15 interim CPO/VP Products roles.  Today, he coaches product leaders, helps design product organizations, and writes/speaks about how product folks can understand our go-to-market partners.  He has been blogging about software product management since 2002, launched the first product camps, and wrote "The Art of Product Management.”

COOK WHILE LISTENING

Rich’s favourite Flourless chocolate cake:

1 cup semisweet or bittersweet chocolate chips

1/2 cup (8 tablespoons) unsalted butter

3/4 cup granulated sugar

1/4 teaspoon salt

1 to 2 teaspoons espresso powder, optional

1 teaspoon vanilla extract, optional

3 large eggs

1/2 cup unsweetened cocoa powder, Dutch-process cocoa preferred

1 cup semisweet or bittersweet chocolate chips

1/2 cup heavy cream

directions

Preheat the oven to 375°F. Lightly grease an 8" round cake pan; cut a piece of parchment or waxed paper to fit, grease it, and lay it in the bottom of the pan.

To make the cake: Put the chocolate and butter in a microwave-safe bowl, and heat until the butter is melted and the chips are soft. Stir until the chips melt, reheating briefly if necessary. You can also do this over a burner set at very low heat. Transfer melted chocolate/butter to a mixing bowl.

Stir in the sugar, salt, espresso powder, and vanilla. Espresso enhances chocolate's flavor much as vanilla does; using 1 teaspoon will simply enhance the flavor, while 2 teaspoons will lend a hint of mocha to the cake.

Add the eggs, beating briefly until smooth. Add the cocoa powder, and mix just to combine.

Spoon the batter into the prepared pan.

Bake the cake for 25 minutes; the top will have formed a thin crust, and it should register at least 200°F on an instant-read thermometer inserted into its center.

Remove it from the oven, and cool it in the pan for 5 minutes.

Loosen the edges of the pan with a table knife or nylon spreader, and turn it out onto a serving plate. The top will now be on the bottom; that's fine. Also, the edges will crumble a bit, which is also fine. Allow the cake to cool completely before glazing.

To make the glaze: Combine the chocolate and cream in a microwave-safe bowl, and heat until the cream is very hot, but not simmering. Remove from the microwave, and stir until the chocolate melts and the mixture is completely smooth.

Spoon the glaze over the cake, spreading it to drip over the sides a bit. Allow the glaze to set for several hours before serving the cake.   

Yield: 8" cake, 8 to 12 servings.