Finding the Sweet Spot: Balancing Local and Global Maxima in Product Management
As a product manager, you’re constantly faced with tough decisions about where to focus your efforts. Should you optimize for your current solutions or chase new opportunities? The concepts of local and global maxima can help you make informed decisions and drive meaningful impact.
Understanding Local and Global Maxima
In simple terms, a local maximum represents the biggest potential impact you can make in your current area of focus. A global maximum, on the other hand, is the highest impact you can make overall. Think of it like a mountain range – a local maximum is the peak of a single mountain, while a global maximum is the highest peak in the entire range.
Why Local and Global Maxima Matter in Product Management
As a product manager, you need to regularly assess whether you’re working on the most impactful thing. Are you optimizing for your local maximum or chasing your global maximum? If you’re only focused on your current solutions, you might be missing out on bigger opportunities.
Identifying Local and Global Maxima
To identify your local maximum, take a closer look at the problems you’re currently working on and estimate the maximum feasible impact you can drive. For example, if you’re working on improving customer satisfaction, what’s the maximum increase in satisfaction you can achieve?
To identify your global maximum, challenge yourself to think outside the box. Ask yourself, “Is this the best way to solve the problem?” Investigate alternative solutions and estimate their potential impact. The opportunity with the highest estimated impact is your global maximum.
What to Do Next
Once you’ve identified your local and global maxima, you have three options:
- Optimize for your current solutions: If you have a robust body of knowledge and are already heavily invested, it might make sense to continue optimizing for your local maximum.
- Chase your global maximum: If there’s a significant difference in potential impact, it might be worth pivoting to chase your global maximum.
- Zoom out to see a bigger picture: Take a step back and consider whether your current direction is still relevant. Are there new opportunities or challenges that you should be addressing?
Remember
Your maxima will change as circumstances change. Yesterday’s global maximum might be today’s local maximum. Stay adaptable and keep looking towards the future.
By regularly assessing your local and global maxima, you’ll be better equipped to make informed decisions and drive meaningful impact in your product management work.