When companies set out to redesign a product or service, the results can sometimes be underwhelming. Instead of delivering service transformation, the team recommends only minor efficiency tweaks. If this has been happening to you, there can be many underlying causes. I’ve identified a few common problems and what you can you do about them.

» Free, online courses are available to help you become more literate in the basics of finance

» There are three key financial metrics to track in a recurring / subscription business

» Gain a competitive advantage by interpreting annual corporate accounts

» Challenge received wisdom about key financial metrics and ratios to reveal hidden insights

» The vision describes the future we are trying to create

» The strategy describes how we’ll make the vision a reality

» There are only 4 strategies after finding product-market fit

» Tesla subsidised more affordable car models with the revenue from their initial luxury roadster

» Storytelling helps to convince stakeholders to believe in your vision

» Customer research and validation is critical, but it can’t always make decisions for you

» Remedy mistakes quickly and honestly to earn respect

» Use the “rule of 10” to put mistakes in context

» People remember most your small defining moments

» Objectives and key results (OKRs) set ambitious goals and track progress towards them

» Manage your desired outcomes separately from what you do to achieve those outcomes

» Make use of OKRs standard across all teams

» Learn from when you fail to achieve your desired outcomes

» OKRs go hand-in-hand with team autonomy

» 6 core concepts of systems thinking will help you start solving complex problems

» Systems thinking complements the more familiar analytical (reductionist) thinking

» It is a way of creating a shared understanding of how something works

» It provides useful tools for surfacing and breaking reinforcing cycles of blame

» Competing execs will sometimes sabotage by claiming features for their own product long before they plan to implement them

» Your product roadmap can reveal symptoms of underlying organisational dysfunctions

» We need to consciously remember that the needs of our users change over time

» Many biases are underpinned by shared psychological mechanisms, such as the desire to feel positively about ourselves

» Coaching allows you to leap ahead — it doesn’t mean there’s something wrong with you

» Active listening helps you restrain the urge to jump in early with a solution

» Performance management is retrospective; performance development looks forward

» A lack of clear goals and simplistic evaluation are ways performance management goes wrong

» Mind The Product pivoted in 8 weeks, then spent the next 8 months refining the concept

» When working remotely, post information in at least 3 places to ensure everyone sees it

» Pivots that align with the existing corporate vision tend to be more successful

» The shift to digital during the COVID-19 pandemic will not be as sticky as some assume