Free Product Management Course & learn Risk Management for Products
Looking to manage risks for new products? Enroll in "Ideation to Execution Managing Risks for New Products" - one of the best free product management course available.
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Learning Objectives
1. Lean Product Development for Innovation Risk
Implementing the MVP approach to quickly validate product ideas, gather customer feedback, and iterate rapidly to address real needs.
2. Strategic Alignment to Mitigate Divergence Risk
Ensuring close communication between product and strategy teams, occasional strategy resets, and maintaining alignment with core vision and strengths.
3. Efficient Resource Allocation for Cost and Time Risk
Utilizing the build-measure-learn loop to systematically test ideas, avoid overinvesting in unvalidated concepts, and prevent wasting resources on nonviable ideas.
Tracking metrics, maintaining constant customer conversations, and aligning product development cycles with customer needs to adapt quickly to changes.
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Who's it for
Entrepreneurs
Product Managers
Startup Founders
Venture Capitalists
Business Strategists
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What will I learn
Chapter 1
Introduction to Startup Risks
Startups encounter four primary risks innovation, strategic divergence, cost and time, and agility risks. These challenges, if not properly managed, can hinder a startup's success. Early stages demand a focus on creating minimum viable products (MVPs) and aligning product development with the strategic vision, while managing resources efficiently and maintaining agility to meet customer needs.
Chapter 2
Innovation Risk and the MVP Approach
Innovation risk involves developing a product that fails to address a genuine customer problem. To mitigate this risk, startups should adopt the lean methodology of building MVPs to validate ideas rapidly with minimal investment. Customer feedback is essential for iterative development, ensuring the product meets real needs without excessive resource expenditure.
Chapter 3
Strategic Divergence Risk
Strategic divergence risk arises when a product strays too far from a company's core vision. To avoid this, startups must keep product development closely aligned with their strategic goals. Open communication between product and strategy teams is crucial, and occasional strategy recalibrations may be necessary as market conditions evolve.
Chapter 4
Cost and Time Risk
Cost and time risk concerns the overallocation of resources to unproven ideas. Startups can avoid this by employing the build-measure-learn loop, which allows for the validation of ideas without significant investment. This approach helps in conserving resources and focusing on projects that demonstrate real potential.
Chapter 5
Agility Risk
Agility risk refers to the mismatch between product development cycles and customer needs. To maintain agility, startups should continuously track key metrics and engage in regular dialogue with customers. This responsiveness enables quick adjustments to changing needs, ensuring the company remains flexible and customer-centric.
Chapter 6
Managing Risks Post-Product-Market Fit
After achieving product-market fit, a startup's risk profile shifts towards optimizing growth and scaling operations. Focus, experimentation, and customization for large clients become key. However, startups must balance these activities to avoid compromising agility. Over-customization, for instance, can hamper a company's ability to adapt quickly.
Chapter 7
Evolution of Risk Management
As startups evolve, so does their approach to risk management. Transitioning from idea validation to growth optimization requires a strategic balance between scaling successful initiatives and continuing to innovate. Companies must remain vigilant against overinvestment and strive to keep their risk management practices aligned with their development stage.
Meet your Mentor
Prathmesh Sawarband
Product Growth & Strategy @ Razorpay
Prathmesh Sawarband is a seasoned professional in product growth and strategy at Razorpay, based in the Greater Bengaluru Area. Joining in October 2023, he focuses on new product experiments and expanding the lending product portfolio across diverse consumer segments. With extensive experience handling P&L and driving growth through product enhancements, Prathmesh also leads the capital product team effectively.
Frequently Asked Questions
What are the main pillars of Product Management?
The main pillars of Product Management are strategy, execution, and customer focus.
What is Product Management, and why is it important to learn about?
Product Management is the process of developing and managing products effectively to meet customer needs and drive profits.
Is this Product Management course designed for corporate training and workforce upskilling?
Yes, this Product Management course is designed for corporate training and upskilling the workforce in product management skills.
How long can I access the free product management course content?
You can access the free product management course content for an unlimited period once you enroll.
Will I receive a certification upon completion of the free product management course course?
Yes, you will receive a certification upon successful completion of the free product management course.
Coming Soon
Intermediate
Mentor
Prathmesh Sawarband
Product Growth & Strategy @ Razorpay
Why GrowthSchool?
GrowthSchool is where you become the Top 1% in your field. We bring the best of Product, Growth, Design, Tech, data and business mentors from brands like Google, Meta, Uber etc doing the jobs you want to do tomorrow.
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Free online courses offer a wealth of knowledge in product, design, growth, and marketing without cost. They provide flexibility for skill enhancement and professional development. Many courses include certificates, bolstering resumes and LinkedIn profiles, demonstrating a commitment to learning and advancement in these dynamic fields.