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Metric-Driven Product Management - ProductHuntTO

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Metric-Driven Product Management - ProductHuntTO

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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.

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Metric-Driven Product Management - ProductHuntTO

  1. 1. Joseph Bou-Younes @josephby
 500px.com/josephby VP Product 500px Inc. Metric-Driven Product Management
  2. 2. Enable and reward visual creativity for everyone. Our Mission
  3. 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. 4. 1. Set your strategy 2. Choose a metric 3. Forecast 4. Go go go!
  5. 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. 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. 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. 8. Value and Valuation Consumer technology companies create value by generating sustainable growth, reach, and engagement in a differentiated way.
  9. 9. 2000 Google GoTo.com
  10. 10. Strategy + Value Drivers Metrics to Forecast
  11. 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. 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. 13. 1. Set your strategy 2. Choose a metric 3. Forecast 4. Go go go!
  14. 14. WARNING This is hard.
  15. 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. 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
  17. 17. This is hard. But you can do it!
  18. 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
  19. 19. Questions?
  20. 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

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