Byte 13 – Product as an Asset – Where to invest and what will return ?

Have you been part of defining strategy and asking for investments from the stakeholders ?. One of the primary questions that you will get from the stakeholder is “what is the ROI (Return of investment) ?”. All returns and investments are not directly related to the money. 

I like the quote :

“We tend to overvalue the things we can measure and undervalue the things we cannot.”

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We can’t ignore the qualifiable benefits. Define the right OKRs (objective, Key results) that will help the organization to track these benefits. 

Invest in 

1. People – Develop culture, identify skill gaps, and train.
2. Process– Standardize and simplify, measure
3. Technology – Fit to deliver the desired outcomes. 
4. Organization – Define Roles and responsibilities. 
5. Governance – Establish maturity levels and define OKR’s. 

Return: 

1. Monetization -Promote the assets and get a new revenue stream. 
2. Reduce cost– Gain efficiency in operational cost 
3. Time to Market – Increase velocity in delivering new product values to the customers 
4. Quality – Automate, improve delivery effectiveness. 
5. Seamless Experience – Enhance customer experience.