Talk first given at the Bath Digital Festival 2017 hosted by Cookpad
‘Customers don't know what they want’, but the truth is neither do you...yet!
In this session you will learn an outcome and iterative approach to product development, helping you to develop your product to exceed customer expectations and validate you are solving the right problems along the way. Using some examples of successful products, both well known and closer to home, Philip will run through some easy-to-apply product management principles that any team can put into practice to create products that delight customers and provide real world value.
34. bathdigitalfestival.co.
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“I think generally people’s thinking process is too bound by
convention or analogy to prior experiences. They’ll say, “We’ll
do that because it’s always been done that way.”
“[With first principles] you boil things down to the most
fundamental truths…and then reason up from there.”
— Elon Musk
54. bathdigitalfestival.co.
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Online credit - back to first principles
Q1: Why are multiple pieces of information needed to run a credit check?
A1: So you can understand a customer’s payment history, amount owed, length of
history, types of credit
Q2: Why do you need to know this information?
A2: So you can calculate the risk to the bank in lending the customer credit
Q3: Why do you need to calculate risk?
A3: So the bank can work out how much money is safe to lend
58. bathdigitalfestival.co.
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Tying it all together
1. Establish the status quo and the desired outcome
2. Strip back external biases to what you know to be true
Well done you have applied scientific, first principles thinking to
product management!
3. Build up a set of hypothesis and test them in order of importance
until the theory is watertight