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Learn how to set your product strategy, identify key metrics, forecast those metrics, and ship. Learn about the pitfalls of running a metric-driven product team and how to avoid them.
Learn how to set your product strategy, identify key metrics, forecast those metrics, and ship. Learn about the pitfalls of running a metric-driven product team and how to avoid them.
1.
Joseph Bou-Younes
@josephby
500px.com/josephby
VP Product
500px Inc.
Metric-Driven Product Management
2.
Enable and reward visual
creativity for everyone.
Our Mission
3.
• Premier photography community
• Global brand synonymous with excellence in photography
• Industry renowned user experience and design aesthetic
• Founded in 2009 in Toronto
• Backed by Andreessen Horowitz, Harrison Metal, and ffVC
6M
60M
260M
1.5B+
registered
users
photos
uploaded
monthly
pg views
monthly
API req.
History and Highlights
4.
1. Set your strategy
2. Choose a metric
3. Forecast
4. Go go go!
5.
1. Strategy
2. Prioritization
3. Execution
What Product Managers People Do:
http://blog.adamnash.com/2011/12/16/be-a-great-product-leader/
6.
1. What game are we playing?
2. How do we keep score?
Strategy
http://blog.adamnash.com/2011/12/16/be-a-great-product-leader/
7.
Given our mission to enable and reward visual creativity for everyone,
we will:
1. Achieve our mission in a world where people predominantly create,
consume, and manage content on mobile devices.
2. Provide the best photo consumption, discussion, and licensing
experience for well shot, well-edited, authentic work.
Strategy (Example)
8.
Value and Valuation
Consumer technology companies create value by generating
sustainable growth, reach, and engagement in a differentiated way.
11.
1. Achieve our mission in a world where
people predominantly create, consume,
and manage content on mobile devices.
2. Provide the best photo consumption,
discussion, and licensing experience for
well shot, well-edited, authentic work.
Metrics to Forecast
App Installs
Photo Uploads
12.
Remember:
- choose simple leading indicators
- tell a story
- show your work
- give yourself time
Example: App Installs
Baseline 10,000 installs/day
External Factors Seasonality (summer is slow) - 5%
Impact of Feature
Analogous features; PR; App Store
featured
+ 20%
Forecast 11,500 installs/day
13.
1. Set your strategy
2. Choose a metric
3. Forecast
4. Go go go!
15.
“The narrative fallacy addresses our limited ability to look at
sequences of facts without weaving an explanation into them, or,
equivalently, forcing a logical link, an arrow of relationship upon
them. Explanations bind facts together. They make them all the
more easily remembered; they help them make more sense. Where
this propensity can go wrong is when it increases our impression
of understanding.”
— Nassim Nicholas Taleb, The Black Swan
16.
Mitigation Strategies
Problem Implication Mitigation
Data not easily accessible
Lots of time wasted to get data; lack
of data literacy across organization
Standardize on “good enough” tool;
train and evangelize
Product managers ship things
Measurement gets lost in favor of
lines of code deployed
Reinforce KPIs at every step of
development process
Not every feature will move a needle
CEO: “Did that feature help?”
Me: _( )_/¯
Find intermediate measurable steps
where possible; if not, focus on
horizon
More time on prioritization & strategy
→ less time for execution
Thrashing during development
Hire right, share feature ownership
with design and technology teams,
have a dedicated project manager
18.
We’re Hiring! (500px.com/jobs)
• Android and iOS Developers
• Data Engineer
• DevOps Engineer
• Design
• Project Manager (PMP)
• Product Managers
• RoR Developers
• Sales (Enterprise & Inside)
THANK YOU!
Get in touch!
• Sign up for 500px, follow me
(500px.com/josephby) and
upload something!
• Follow me on twitter
@josephby for lots of related
material I will share
tomorrow
• Email: joseph@500px.com
20.
Links
• Adam Nash, Wealthfront, "Be a Great Product Leader"
• Zal Bilimoria, a16z, "Product Management 101"
• Ben Horowitz, a16z, “Good Product Manager / Bad Product Manager”
Books
• The Hard Thing About Hard Things by Ben Horowitz
• Zero to One by Peter Thiel
• Fooled by Randomness by Nassim Nicholas Taleb
Please tweet suggestions at me @josephby.
Further Reading