In Product Development as in Cycling
By: Jeffrey Axelrod
Tags: Product Management, Product Development, Cycling

IsraelRide 2016

On my first cycling Century, I knew very little about the cycling lifestyle, and my ego was way bigger than my muscles. I kept up with the front group of riders at a 23 mph pace for the first 35 flat miles and was feeling like a hotshot. But then I had to face the remaining 65 miles of steep hill climbs and harrowing descents, with no energy in reserve. I crawled across the 102-mile finish line as the sun was setting, I got recorded as DNF, and I had to cancel work meetings the next day because I could hardly walk. It was not a stellar day.

It took just one of these rides for me to learn the rhythm of cycling:

Train for months Study the course Set a goal Create a strategy Show up early on race day Keep to the strategy Reroute only if there is a crash Celebrate at the finish line Rest Repeat

Simple, once you know it!

The same goes for the Product Development cycle

The rhythm of cycling is not that different from that of the end-to-end product lifecycle.

Train — Training is the process by which we prepare for opportunity. We learn the discipline, learn how others have done it before, and learn the tools of our trade, the technology environment and the business domain. When opportunity arises, we are ready.

— Training is the process by which we prepare for opportunity. We learn the discipline, learn how others have done it before, and learn the tools of our trade, the technology environment and the business domain. When opportunity arises, we are ready. Choose a race — Using data and anecdotes and experience and imagination, we ideate and innovate, we look for a pain point or a hole in a market. We select a problem.

— Using data and anecdotes and experience and imagination, we ideate and innovate, we look for a pain point or a hole in a market. We select a problem. Study the course — With a specific opportunity in mind, we begin to gather context. We study the ecosystem, the competitors, and the market opportunity. We anticipate the scale. We become conversant in the vocabulary and learn the surrounding technology. We do all this in order to become credible experts in the field and avoid unexpected surprises along the way.

— With a specific opportunity in mind, we begin to gather context. We study the ecosystem, the competitors, and the market opportunity. We anticipate the scale. We become conversant in the vocabulary and learn the surrounding technology. We do all this in order to become credible experts in the field and avoid unexpected surprises along the way. Set goals — Now we can describe the product that we wish we had, and define what we are solving for. Armed with the knowledge of the course, we step out beyond our comfort zone, just short of our panic zone. We hypothesize, prototype, and validate, over and over again, until we feel the flow. A target end state feels organic, and supports all scenarios that we throw against it.

— Now we can describe the product that we wish we had, and define what we are solving for. Armed with the knowledge of the course, we step out beyond our comfort zone, just short of our panic zone. We hypothesize, prototype, and validate, over and over again, until we feel the flow. A target end state feels organic, and supports all scenarios that we throw against it. Create a strategy — We create a plan that defines the must-have’s and the nice-to-have’s. We find commonality and we design frameworks. We define sequence and size and effort and required skills. We balance the short view and the long view, and break the epic into sprints. As a guideline, we remember that being the first to get to mile 30 is useless if you don’t cross the finish line at mile 100, while getting to mile 30 too late may disqualify you too!

— We create a plan that defines the must-have’s and the nice-to-have’s. We find commonality and we design frameworks. We define sequence and size and effort and required skills. We balance the short view and the long view, and break the epic into sprints. As a guideline, we remember that being the first to get to mile 30 is useless if you don’t cross the finish line at mile 100, while getting to mile 30 too late may disqualify you too! Show Up on race day — Even a great idea is only an Idea until you make it real, and now is the time to do that! We come with our team in place, our equipment in order. We show up ready to work, focused, accountable and dependable. We make commitments that we will keep.

— Even a great idea is only an Idea until you make it real, and now is the time to do that! We come with our team in place, our equipment in order. We show up ready to work, focused, accountable and dependable. We make commitments that we will keep. Keep to the strategy — We know that the course may be long, and that discipline is key. We avoid scope creep. We validate and test what we build along the way, and keep to the pace. We avoid the pull of shiny things, because we trust the plan. Usually…

— We know that the course may be long, and that discipline is key. We avoid scope creep. We validate and test what we build along the way, and keep to the pace. We avoid the pull of shiny things, because we trust the plan. Usually… Reroute only if there is a crash — We are not so rigid that we don’t appreciate when it’s time to pivot. We change route when there is an obstruction ahead or if we miss a cutoff time. But we also know that unauthorized shortcuts are grounds for disqualification, in product development as in cycling. We’re never too proud or too stubborn to realign to the Epic goal.

— We are not so rigid that we don’t appreciate when it’s time to pivot. We change route when there is an obstruction ahead or if we miss a cutoff time. But we also know that unauthorized shortcuts are grounds for disqualification, in product development as in cycling. We’re never too proud or too stubborn to realign to the Epic goal. Celebrate at the finish line — We’re enjoying the celebration, but the work’s not done. This is when Sales and Marketing get to shine — with our help. Because its our product, and who knows it better than us?

— We’re enjoying the celebration, but the work’s not done. This is when Sales and Marketing get to shine — with our help. Because its our product, and who knows it better than us? Rest, repeat — We rest up, and prepare for the next cycle. There is always another release, another revision, another product to be launched, when the fun will begin again.

My most recent century was 5500 ft of climbing. I trained and planned with a partner, we rode together alternating between inspiring each other to keep going, and holding each other back so as not to blow out our power. We finished in just over 5 hrs.

This rhythm is our friend. We know that we can’t cross the finish line — or deliver a product — without it, and so we embrace the process as much as the result. With this rhythm to live by, I look forward to riding, and creating products, until I’m 99 years old!

Jeffrey Axelrod has been building products in FinTech for over 20 years. Today at Fintech Alchemy, he puts his experience to work advising fintech startups and growth companies in the area of product and leadership.