I first heard about this in a Microsoft team (I was working elsewhere in enterprise software at that time). The one pager was supposed to be the answer to every product teams' planning initiative, and the composition of the one pager was given top priority by senior management as well as the product management team.
Well, when the one-pager finally arrived, it was a big letdown. It was not of one page, was really vague, and was closer to a mangled mission statement (follower's of Dilbert will know this) than any product vision.
So what goes into a good One Pager?
A good one pager, in my opinion, should have the following 5 sections:
The Market DescriptionThis section should give insights into the following:
- What is the market like in terms of geography, verticals etc.?
- What are the current solutions in the marketplace
- Where is it heading, or what are the observed trends?
The Problem Statement
What is the exact customer problem? For online clients, it could be something like too much data, or stagnant e-commerce revenues. For enterprise customers, it could be a customer needing a "simple" and easy to use product for his IT Service Desk Management needs across all geographies.
If you know that this is common knowledge within your firm, then you can even get by with a single line problem statement, with subordinate clauses.
The Proposed Solution
This is the section that is of major interest to engineering teams and other internal stakeholders. First, clearly describe what the solution is, in a single sentence. Then use a few words to describe the different components of the solution and the benefits of each component. Finally, describe ONE usage scenario where the solution will solve the customer problem described above.
If you like, you can even fill in a few engineering details, such as the need for Open Source Web Servers, API requirements and so on. A block diagram will probably take too much space without adding value.
You can leave the remainder of the use cases to be filled out during PRD generation (to be explained in a future post).
The Financial Benefit
This part causes the most heartburn in product managers who rise up from engineering ranks. They have been used to precision and results, and building financial models to predict the range of revenues and profit margins of this product over 3-5 years based on multiple assumptions can be a big challenge. My personal belief is that this stems from a lack of confidence, which can be overcome simply by practising this repeatedly.Do not skimp on this section, and try to put as much detail around pricing, growth in customer base and quarterly revenues as possible. The lack of details around financial benefits can easily kill your vision as it moves upwards through corporate hierarchy.
This is an easy one. If you have an idea of the market and the customer problem then you can describe the external challenges around achieving revenue goals. And if you know how engineering will build your solution, then you can describe the internal risks.
If you have a good sense of what the competition is doing, you can write a line about it here. Although this is not recommended by most experts.
So what do you finally deliver in 5 sections, 1 page and 400-500 words?
Ideally, you deliver a "One-Pager" that is a summary of the goals of a product team, for building a new product or designing a product release. If you can actually deliver this, it will go a long way towards building confidence all around, in your capabilities as a product manager.