
In this lecture you take one product line and work out which of the four profit levers to move first, what it costs to move it, and what usually breaks when the wrong one is chosen.
This course is built from four disciplines: product strategy, client service, finance and performance measurement.
The map of the course
A dictionary for reading lectures from other fields as profit work
Three questions to ask after every lecture
A short self-diagnostic that shows which sections to watch first
Download the Profit Lever Rule and fill it in for one line of your business.
How the role moved from managing a product to owning the economics
Where it differs from the technology, marketing and chief executive roles
Acting as the voice of the customer inside the company
Balancing business, users and technology when they disagree
Product vision and mission, stated so they constrain decisions
Finding product-market fit, and the harder problem of sustaining it
Strategic priorities and product goals
Linking product strategy to the business goals it has to serve
The product life cycle
The Boston and McKinsey matrices, and their alternatives
Deciding to invest, maintain or retire — including the retire decision
Balancing core, adjacent and speculative bets
Methods for researching a market and what customers need
Jobs to be Done, and design thinking
Customer journey mapping
Tools for validating a hypothesis before you build on it
The roles: product managers, designers, analysts, researchers
Structuring the organisation, and aligning it on goals
Agile and Lean as an operating model
Building a culture where experiments are allowed to fail
The North Star metric and the supporting set beneath it
Acquisition, activation, retention, referral and revenue
Product analytics platforms
Managing on data rather than on the loudest opinion
The models: freemium, subscription, transactional, licensing
Growth loops and product-led growth
Unit economics, and lifetime value against acquisition cost
Financial accountability for a product line
What happens to a product as the company grows
Supporting expansion into new markets
Managing technology and market risk
Building security and compliance into the process rather than after it
Driving transformation rather than being handed one
AI, distributed ledgers and platform business models
Partner ecosystems and open innovation
Where product leadership is heading
The main tasks of the person accountable for client care
The effect on client experience and on the revenue line
The key indicators: net promoter, satisfaction, effort, first-contact resolution
Working with marketing, sales and product
What an audit is for, and assessing the current position honestly
Mapping the client journey
Collecting data: surveys, interviews, feedback
Strengths and weaknesses of the team, and where the bottlenecks are
Building a vision for what service should be
Long-term and short-term goals
Service policy and standards
Choosing the model: omnichannel, self-service and the others
Hiring and settling people into this work
Training and coaching on a regular rhythm
Financial and non-financial motivation
Performance management, culture, and career tracks
Working out what actually needs optimising
Using client and case management systems
Chatbots, AI and self-service
Building service levels and standard procedures, and monitoring quality
Experience metrics: net promoter, satisfaction, effort
Team metrics: average handling time, first-contact resolution, service level
Analysing what clients say back
Reporting, visualisation, and deciding on the data
The types of difficult client, and the approach for each
Managing conflict through active listening
Escalation: when and how to bring in a manager
Preventing negative feedback rather than answering it
The technologies worth knowing about
Current global practice
AI and large-scale data in client care
Staying competitive, and planning service development
The role, described rather than assumed
How the finance function is organised
Working with the chief executive
Working with the board, and working with auditors
An overview of strategy, and the types available
Risk analysis and strategic focus
Forecasting
Acquisition strategy, and outsourcing decisions
What finance owns in risk management
Managing currency risk
Managing interest rate risk
The fundamentals of accounting control
The nature of the risk being controlled
The principles of control
Preventive and detective controls, and where each belongs
The cash conversion cycle
Free cash flow
Reinvestment metrics
The break-even point, and return on capital
Acquisition strategies, and why they usually fail
Due diligence
What an excellent acquisition candidate looks like
Valuing the target, forms of payment, and integration afterwards
The case for and against budgeting at all
The problems budgets create
Setting goals without a budget
The rolling forecast as the alternative
Psychological pricing, cost plus and dynamic pricing
Freemium and premium approaches
Value-based pricing
Price elasticity of demand, and the non-price determinants
What the finance function is accountable for here
Bottleneck analysis before you spend
Net present value analysis
The payback method, and its limits
This course contains the use of artificial intelligence.
Most companies can tell you their revenue to the nearest thousand and cannot tell you which customers are profitable.
The question nobody can answer
Ask a leadership team what a customer costs to acquire and what they return over their life, and you will get a range rather than a number, because the two figures live in different systems owned by different people. Ask when the price was last changed deliberately, and the answer is usually that it was set at the beginning and has moved with inflation since. Ask which product line to close, and everyone will explain why theirs is strategic. None of that is incompetence. It is what happens when the decisions that determine revenue — the product, the customer, the price and the measurement — are made in four separate rooms.
What this course covers
Forty-five lessons across those four rooms. The product first: product-market fit and how to keep it, the portfolio and the decision to invest, maintain or retire, Jobs to be Done and journey mapping, the North Star metric and the pirate metrics, monetisation models from freemium to subscription, growth loops, and unit economics with lifetime value against acquisition cost. Then the customer after the sale: journey audit, service strategy and standards, service levels and standard procedures, automation, and the numbers — net promoter, satisfaction, effort, first-contact resolution, handling time. Then the money in full: strategic planning and forecasting, currency and interest risk, preventive and detective controls, the cash conversion cycle, free cash flow, break-even and return on capital, acquisitions and valuation, the case against budgeting and the rolling forecast instead, nine distinct approaches to pricing including elasticity, net present value and payback, cash gaps and pooling, investment policy, debt and equity financing, credit ratings, going public, investor relations, reporting and finance technology. Finally the measurement: the four types of indicator, the 10-80-10 rule, critical success factors and the workshop that finds them, design traps, visualisation, a three-step implementation, and six myths that quietly destroy most indicator systems.
A note on the finance block
Twenty of these lessons are the finance block, and the last nine of them cover how growth is financed rather than how revenue is earned: debt and equity instruments, credit ratings, public listing, investor relations and public company reporting. That material is there because a growing company eventually meets it, but if you run a small business, treat those nine as reference rather than as the core of the course. The eleven before them — control, cash, break-even, acquisitions, budgeting and pricing — are the part you will use immediately.
Who is teaching this
I am Mike. I built the people system at Preply as it became a unicorn, and I have worked at Wargaming, iDeals and Alfa-Bank. More than 1.6 million students have enrolled in my courses across 185 countries, and over 150,000 specialists have gone through my programmes. I hold PHRi and SHRM-CP certifications and represent HRCI in more than ten countries.
What is included
Lifetime access to all 45 lessons
Active instructor support in the Q&A section
A Udemy Certificate of Completion
Working models: the portfolio matrices, Jobs to be Done, the pirate metrics, unit economics, nine pricing approaches, net present value, the cash conversion cycle, the rolling forecast, critical success factors, the 10-80-10 rule
A full finance block: control, cash, break-even, budgeting, pricing and capital
Where to start
Write down what one customer costs you to acquire and what they return over their life. Then write down when you last changed a price on purpose. Two numbers and one date — that is the diagnostic. Enrol now and start today.