Once an organization has finalized its strategy and vision and has its product sales function in place, Product Managers are tasked with understanding the mechanics of financial statements to manage product performance. Product Managers contribute to the financial forecasting process as well as defining product pricing using industry and competitive information. In this course, Exploring Product Finance, you’ll discover tools and frameworks used to support the organization in managing product finance. First, you'll see how to define and practice understanding financial statements including the income statement and balance sheet. Next, you'll learn how to define forecasting terms and explore a practical forecasting model. Finally, you'll explore pricing models and considerations that will impact your forecasting and financial statements. At the end of this course, you’ll have the skills and knowledge of exploring product finance needed to contribute to strategic discussions with business leaders.
Course Overview Hi everyone, my name is Curtis Webb, and welcome to my Pluralsight course, Exploring Product Finance. The bottom line, P&L, and discounted cash flows. Increasing shareholder value, reducing cost of goods sold, and increasing profitability. Premium, value, or penetration pricing? We've all been there on that conference call where business leaders are using these terms. But what do they really mean? Why is it important? And how will these words and documents drive results for your product? Product managers and other stakeholders are tasked with ensuring the products and services being managed are profitable and add financial value to the organization. To be successful, you must be comfortable with reviewing, recommending, and decisioning on financial matters. This course, Exploring Product Finance, will enable you to speak the language of business so that you can collaborate with business leaders to manage product finance. Some of the major topics we'll cover include understanding how product financial documents can be used to manage performance, an analysis of product forecasting and how it can be used to predict future sales, definition of common finance terms used when managing the product business, discussion on pricing considerations and strategies to achieve various business objectives. By the end of this course, you will be equipped with the skills and knowledge required to explore product finance. Before beginning the course, I recommend becoming familiar with product management, strategy and vision, and product sales. I hope you'll join me in this course, Exploring Product Finance, an important activity when managing the product business.