Your team is divided on financial gains vs. product growth. How do you navigate this balancing act?
When your team is split between prioritizing financial gains and product growth, achieving balance is key. Consider these strategies:
- Weigh short-term profits against long-term value. Sometimes, investing in product development can yield greater returns down the line.
- Foster open dialogue to understand diverse perspectives. This ensures all voices are heard and can lead to innovative compromises.
- Set clear, measurable objectives for both finances and product milestones to track progress and maintain focus.
How do you strike the right balance in your team's priorities?
Your team is divided on financial gains vs. product growth. How do you navigate this balancing act?
When your team is split between prioritizing financial gains and product growth, achieving balance is key. Consider these strategies:
- Weigh short-term profits against long-term value. Sometimes, investing in product development can yield greater returns down the line.
- Foster open dialogue to understand diverse perspectives. This ensures all voices are heard and can lead to innovative compromises.
- Set clear, measurable objectives for both finances and product milestones to track progress and maintain focus.
How do you strike the right balance in your team's priorities?
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As a leader, I consistently align our team around a shared long-term vision where financial sustainability and product innovation reinforce each other rather than compete. I foster open dialogue in our strategic planning sessions, encouraging both finance and product teams to present data-driven proposals that consider both immediate revenue needs and future growth potential. Through this balanced approach, I've successfully implemented quarterly milestone reviews that track both financial metrics and product development progress, helping us make informed decisions that serve both objectives.
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When debating financial gains vs. product growth, product managers can use these strategies to navigate the tension: 1) Identify why there are differing opinions. Ideally, product growth should drive long-term financial gains. Avoid sacrificing product value or building features that don’t align with business goals for short-term financial benefits. 2) Prioritize short-term growth to ensure business health, but allocate resources to initiatives that support the long-term product vision and sustainability. 3) Avoid strategies that gain short-term financial wins at the cost of customer satisfaction or by building unsustainable features. This approach typically undermines long-term success.
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Gérer l'équilibre entre gains financiers et croissance du produit nécessite de : 🟡Clarifier les priorités individuelles et collectives, à court moyen et long terme. 🟡Distinguer les actions qui génèrent du revenu immédiat de celles qui soutiennent le développement à long terme. 🟡Suivre de près les KPI de chaque axe (financier et produit) pour évaluer leur progression et leur complémentarité. 🟡Favoriser l’écoute active entre les équipes. 🟡Aligner l’équipe sur une vision commune... C’est dans cet équilibre que l’entreprise pourra maximiser sa performance tout en assurant sa pérennité.
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Here’s how I tackle it: 1. Highlight Long-Term ROI: I emphasize how investing in product growth can drive future financial returns. For example, in a past project, we prioritized key product enhancements that increased customer retention, ultimately boosting revenue over time. 2. Build a Collaborative Framework: I foster open discussions to ensure each perspective is valued. This often leads to creative solutions, like phased rollouts, allowing for immediate revenue impact while supporting growth. 3. Set Dual Objectives: I establish specific, measurable goals for both financial and product targets. This dual focus keeps the team aligned, tracking both financial performance and growth milestones, so we stay balanced in our approach
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There's a balance to be achieved here. You'll need to set clear KPIs that speak to both short & long term product success on both financial and product's growth. Foster open comms with the teams and collaborate on how best to navigate differences. This helps accommodate both teams' interest as progression is made. Depending on which part of the cycle, product KPIs might take a focus (customer adoption, retention, satisfaction, etc.); as these gather momentum to habitual use of the product. Conversely, financial KPIs might take the focus (NRR, CAC, churn, etc.) as these inform us on the product's profitability. As the product progresses, have reviews of the strategy to ensure that you are still hitting the KPIs needed on both sides.
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