Launching New Products In Companies Where It Matters Most by Product Director, Financial Times

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This document discusses lessons learned from launching new products at large companies. It outlines three key lessons: 1) Figure out a clear strategic "why" for the new product that aligns with the company's overall strategy. 2) Really listen to stakeholders across the organization to understand their needs. 3) Assemble a cross-functional team that can get support and input from different parts of the organization, but isn't too large that it becomes unwieldy. The document emphasizes the importance of understanding strategic context, stakeholder needs, and effective team composition for successful new product launches at established companies.

Launching New Products In
Companies Where It Matters Most
by Product Director, Financial Times
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Act Like an
Owner,
Challenge
Like a VC
by former
CPO,
Tripadvisor

Launching new
products in
companies where it
matters most
Debbie McMahon, Product Director, Financial Times

Me and the FT
Debbie McMahon
Product Director for consumer subscriptions
business at the FT previously BBC and
Universal Credit
Financial Times
The FT has been around since 1888 - its 135
years old and intends to be around for at least
another 135 years

80%
Of the work often isn't ﬁguring out an idea or opportunity space

What you need to
launch your product
To ﬁnd an idea that
the org buys into
To build it in a
way that meets
customer needs
Launch it to real
customers

Signs to look out for
• Confusion over learnings
• Requests to add more
features/functionality
• Risk being overstated or causing
major concern
• Desire to go back on some
fundamental aspects
• Timing pushback
• Challenge over team size/costs
• Unrealistic success measures
• Diﬃculty in getting key teams to
support you

3 Lessons I have learned
Not a clear enough why Not Listening Not nailing the team

Lesson 1 - Figure out the why
Do you understand why you and/or the organisation
need to launch something new?
What is the wider strategy for the organisation that
your new product will be part of?

Having no strategy can become an
insurmountable struggle

Lesson 2 - Listen
No.....are you really listening?
Who haven't you spoken to?

New product development
requires extra empathy as a
Product Manager

Lesson 3 - It's all about the team
Well.....almost!
Can the team reach out across the organisation?
But on the other hand are there too many competing
voices?

What
about
you?
Make sure you understand what
you want to learn and get
exposure to as a PM

Monzo is revolutionizing the banking industry by taking a customer-first approach called "The Monzo Way." This involves starting from first principles, building products through constant dialogue with users, and piloting internally before growth. Monzo gathers extensive customer feedback and has conducted over 500 research interviews and reports. It strives for industry-leading customer service and uses this research to develop innovative new products for investments and home ownership tailored to customer needs. Monzo's community-focused approach has helped it become the UK's highest rated bank for overall service quality for four years running.

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