This week I was invited to a product review meeting, and like most product review meetings, the first time out, it was chaos!
What is a product review meeting, and why should Private Equity be involved?
Technology teams can seem random, unorganised, and slow to make changes. You’ve probably found yourself frustrated by tech teams as a private equity operator. The product review meeting is your chance to work with your tech leaders. Your chance to influence the technology roadmap. Your opportunity to align this to the value creation strategy.
There are five key elements to agree on at a great product review meeting.
What we will build and why we will build it.
How long do we think it will take.
How much do we think it will cost.
The value will we create as a result.
How confident we are with those estimates.
Great PE firms run product review meetings with their tech leaders twice per year.
The best PE firms run quarterly product review meetings, including leaders and doers from tech, sales, marketing, operations and support. They are bringing together small teams of 5-8 people at most. And with a value creation review, goals and accountability.
Throughout the quarter we’ll guide them to implement and facilitate the QVCMs.
Product review meetings, not board meetings, are where the success of your portcos is decided in 2022.
Keep leading; it matters.
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