The Piece That’s Been Missing From Every Transformation
Rich Mironov has lived through more phases of product management and software delivery than almost anyone else in the industry.
But rather than remain stuck in theory, Rich has “smoke-jumped” directly into the fray as a fractional CPO. He’s been in the lone voice in the room able to have the crucial conversations necessary to buy the product teams the time and focus to deliver business impact over features. I would argue that the failure of every “transformation” over the past 30 years – Web, Mobile, Agile, Digital, Design Thinking – has been precisely because everyone one of the practitioners, after learning about or getting certified in one of the powerful enabling frameworks, used it to justify a form of “Dunning-Kruger” effect, where they dismissed business leaders and their focus on delivering measurable business value to a customer. “These business executives and middle managers just don’t get it,” they would say. “You need to be Agile, not Waterfall.” But the failure of these methods has been their inability to articulate their value in delivering business results and speaking the language of business. Rich’s “Money Stories” shows that basic business savvy doesn’t take two years and hundreds of thousands of dollars to learn. Once you understand the basics of three numbers and an operator, you can begin approach challenging software delivery situations and apply financial logic to speak the language of your broader teams, stakeholders, and sponsors. An absolute must-read for anyone involved in collaborative software delivery.
We use user stories to talk to engineering. Rich suggests using money stories to talk to Sales, Marketing, CS, and Execs.
It’s a template to explain priorities in their language: ∙ What revenue does this unlock? ∙ What churn does this prevent? ∙ What deals are we losing because of X?
I recommend Money Stories to every product builder who needs to: ∙ Partner with GTM teams and speak their language ∙ Make roadmap decisions based on estimates, not the loudest voice ∙ Show with numbers why some requests won’t make it to the roadmap ∙ Defend their UX, testing, and DevOps budget — and make it non-negotiable. Negotiate on big revenue topics instead.
If you would like to understand the thinking behind business decisions (no matter whether you're in product, development, customer service), I highly recommend the book “Money Stories”.