Demystifying Finance for Product Managers Essential Finance Skills for Every Product Professional
- Financial Statement Fluency: Gain the confidence to read, understand, and leverage financial statements, turning data into powerful product decisions.
- Strategic Financial Planning: Learn how to project revenues and expenses, optimize financial strategies and make informed choices for both new and existing products.
- Decision-Making Mastery: Learn to evaluate product opportunities with a financial lens, ensuring every decision aligns with your business goals.
What you’ll learn in Demystifying Finance for Product Managers
Understanding Financial Statements for Product Success
- Develop the ability to interpret and utilize financial statements, enhancing your product’s strategic planning and execution.
- Dive into the nuances of profit or loss statements, income statements, and balance sheets, and their direct impact on your product’s financial health.
Strategic Financial Projections for Product Management
- Master the skills to project revenues and expenses, crucial for both new product launches and existing product management.
- Learn to balance cost considerations and revenue potential, ensuring your product decisions are financially sound and growth oriented.
Decision-Making with Financial Insight
- Gain expertise in using financial data to make informed, strategic decisions about your product’s development and market positioning.
- Understand how to evaluate and seize product opportunities based on their financial viability and potential return on investment.
Navigating Product Life Cycle Financials
- Acquire insights into how different stages of the product life cycle affect and are influenced by financial decisions.
- Develop strategies to manage and optimize financial performance throughout your product’s life cycle, from inception to maturity.
Understanding Finance for Product Managers
Understanding finance is essential for product teams, particularly for product managers steering strategic decisions. Mastery of financial aspects within product management extends beyond budgeting to include how products impact the company’s financial health. Product managers must interpret financial statements, assess product profitability, and align decisions with the company’s financial goals, aiding in resource allocation and investment justification.
Integrating finance into product team workflows is crucial for business growth. It equips product managers with the ability to forecast revenues, manage costs, and comprehend the financial outcomes of their strategies. This financial insight is key when exploring new markets or strategic shifts, ensuring decisions are not only innovative but also financially sound, leading to sustainable success and a significant impact on the company’s financial performance.
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Why Product Managers Should Learn About Finances
Understanding the finances of product management equips you with the knowledge and insight you need to create and manage products that are innovative, financially sound, and aligned with business objectives.
This workshop is designed to elevate your product finance knowledge with skills such as:
- Enhanced Strategic Decision-Making: Gain financial understanding that empowers you to make informed decisions that align with business goals and market needs.
- Improved Budget Management and Resource Allocation: Learn budget control and resource optimization, both essential for maximizing product development efficiency and ROI.
- Increased Ability to Drive Product Profitability: Explore methods for identifying revenue opportunities and implementing cost-saving measures to boost product profitability.
- Navigate Market and Economic Changes: Acquire the ability to swiftly adapt product strategies, ensuring resilience and relevance in the face of fluctuating market and economic landscapes.
- Long-term Strategic Planning and Forecasting: Develop planning and forecasting skills that are crucial for ensuring sustained product relevance and success.
Who Should Sign Up for Demystifying Finance for Product Teams?
This course is valuable for product managers, product marketers, financial analysts in product teams, and any product professional involved in product strategy and development.
You’ll benefit by registering if you are:
- Interested in integrating financial insights into product management for better decision-making.
- Eager to develop the skills you need to analyze and manage product budgets and resources more effectively.
- Seeking to enhance your ability to forecast and plan for long-term product success in a financially sound manner.
- Eager to better understand and articulate how your product decisions influence overall profitability.
About Instructors
Alissa Oelfke, PhD, has spent 15 years working in financial services. She has taught finance, accounting, and operations management courses in higher education administration since 2008. Alissa holds an MBA from Viterbo University, and a PhD in management education from Capella University.
She is also a member of the Supervisory Management Program Advisory Board at Western Technical College, and the Self-Sufficiency Program Board at the University of Wisconsin at La Crosse.
Alissa Oelfke She is also a member of the Supervisory Management Program Advisory Board at Western Technical College, and the Self-Sufficiency Program Board at the University of Wisconsin at La Crosse.
John Robinson, PhD, is a finance academic and consultant specializing in corporation finance. He has consulted in a variety of industries, including real estate development for cash flow modeling and tax planning, bottling for customer satisfaction analysis, and more.
His academic work has been published in Managerial Finance, and his papers have been accepted to the MBAA International conference in both finance and law, covering topics in health care governance, stakeholder engagement, sustainability language, and executive compensation. John earned his PhD from ASU.
John Robinson His academic work has been published in Managerial Finance, and his papers have been accepted to the MBAA International conference in both finance and law, covering topics in health care governance, stakeholder engagement, sustainability language, and executive compensation. John earned his PhD from ASU.
Anita Lauper, MBA, PMC-VI, PMP, CSM, is a product expert with nearly two decades of experience as a product strategist, leader and consultant in various industries. She helps teams ideate, execute and learn more accurately and more quickly.
Anita taught in the Dahl School of Business at Viterbo University for over 8 years, leading courses in management and marketing for MBA programs among others. She loves to combine all her experience and expertise to bring growth, energy, and lifelong learning to others.
Anita Lauper Anita taught in the Dahl School of Business at Viterbo University for over 8 years, leading courses in management and marketing for MBA programs among others. She loves to combine all her experience and expertise to bring growth, energy, and lifelong learning to others.
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