In Product Development and Advisory
Of all the skills a Product professional needs - roadmapping, researching, product change requirement writing - one of the most vital is the ability to create and communicate a shared understanding. At interVal, the need for this is amplified by our unique composition of specialists in valuation, wealth management, accounting, tax planning, and business growth. I love these kinds of collaborations because merging this kind of talent with a team of software developers and innovators energizes us to build a truly remarkable product.
Engage the Expert
In any organization, experts are experts for a reason. They’ve had invaluable, diverse experiences that can’t just be shared in a routine meeting or over a coffee. For example, if you’re a CBV or an ABV, you’re the champion on business valuations. Similarly, if you’re a software developer, you carry the knowledge on application performance and reliability. Product’s responsibility is to act as the intermediary between these groups to make sure everyone has a shared understanding of what’s being built to support users, who it impacts, and how to most effectively engage everyone to get it done.
The trick to making this happen: it doesn't require being a subject-matter expert in everything to get there. What it does require is knowing who to involve in a conversation and guiding that discussion to an efficient and actionable outcome. If you spend too much time trying to make everyone an expert, you lose valuable time iterating and refining towards a goal. On the other hand, if you don’t develop a solid enough understanding of the material, you risk creating an outcome that doesn’t solve the problem.
This balancing act, determining the “next best thing to do” and conveying it effectively, is central to how we build at interVal. It’s also central to how our platform helps advisors and business owners.
We Walk the Walk
Our platform is designed to present the “next best thing” that comes from a business owner’s financial statements. It bridges two distinct areas of expertise, advisors and business owners, by creating a shared understanding of the business’s value, actionable opportunities, and the steps to achieve their goals.
If you’re an advisor, you’re the expert at recognizing growth opportunities for businesses. If you’re a business owner, your expertise lies in running your business. Our platform pulls out the key information needed to align both perspectives and focus on what matters. It allows advisors and business owners to focus on planning for the future and making informed decisions, without getting bogged down by unnecessary details or administrative tasks.
Whether in product development or financial advisory, shared understanding is the foundation of effective collaboration. By focusing on what matters most and aligning diverse expertise in a shared space, we can build better products and help businesses achieve their goals.
Author: Trevor Horman
