3. Full Circle:
World-Class Product
Original meeting with Reid Hoffman turned in a four
hour conversation on what world class product
meant in a Web 2.0 world (circa 2007).
Most people start or join new companies because
they think āwe can do it better this timeā. They
come to build a company.
These are the top lessons Iāve personally gained
over the past two decades about product
management for modern consumer software.
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4. What Do We Demand of
Product Managers?
1
StrategyāØ
How do we win the game, and how do we keep
score?
PrioritizationāØ
What are the steps from here to there, and what
order do we do them in?
ExecutionāØ
For this phase, whatās the list of what has to get
done, and are we on track?
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5. Product: Results Matter
2
In the end, we judge product managers by whether
they āwin gamesā
The role itself can give limited authority. Like a new
coach, the team will let you deļ¬ne the plays initially.
But in the end, you have to show the team wins.
Product leaders donāt play the game, but they are
judged by the record of their products.
They cover any gaps. No excuses.
Responsibility, often without authority
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6. Put People Directly on
High Priority Goals
3
This may sound obvious, but it continues to be very rare in
practice. Diffuse responsibility is a killer.
Itās an expensive solution, but when youāve identiļ¬ed the
few goals that matter, itās exactly the right answer.
A small, cross-functional team, free to execute with clear,
direct goals and authority is an incredibly powerful force.
Example: Growth
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7. Prioritization: Three
Buckets
4
Metrics MoversāØ
These pay the bills. In the end, software that doesnāt
justify itself will lose the ability to fund itself.
Customer RequestsāØ
If you donāt listen to customers, they will lose faith in
you and eventually hate you.
DelightāØ
If you donāt delight customers, you wonāt inspire
passion and loyalty in your users.
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8. Canāt I Have All Three?
4
Itās not impossible, but itās extremely rare.
Very often, metrics movers are not requested or
delightful.
Very often, customer requests will not move your
metrics or delight people.
Very often, delight features will not move your
metrics, and by deļ¬nition, are not requested.
Great products, however, combine all three. In agile
processes, releases intersperse all three regularly.
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9. Understanding Virality
5
One of the key insights of our growth strategy from 2008.
Extensible to literally all engagement features.
Key measure used by applications on social platforms. This is
an extremely useful frame.
Two questions: what features let members touch non
members? How does a new customer today lead to a new
customer tomorrow?
At the heart of virality is an exponential based on branching
factor and time. In an m^n equation, m is the branching
factor, n is the cycles in a time period.
Rabbits make lots of rabbits not because of big litters, but
because they breed frequently. ānā matters more than āmā.
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10. Engagement Can Be
Measured
6
Believe it or not, this issue has been hotly debated
Key metrics include:
ā¢ MAU / Total User Base
ā¢ DAU / MAU
ā¢ Actions / DAU
Donāt be afraid to learn from startups and/or
competitors. You are not always a unique snowļ¬ake.
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11. Find the Heat
7
There are two sides to boosting engagement: lowering the
friction of reaching out, and increasing the desire to
engage.
Itās easy to focus on the ļ¬rst and ignore the second, but
social software depends on capturing the real nuances of
human interaction.
Heat is a placeholder term for emotions that drive action,
both positive and negative. Emotion. Passion. Desire.
Ask yourself the hard questions of what strong emotions
drive the actions in your products.
Examples: Apply with LinkedIn
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12. Simple is Hard
8
For some reason, people are talking a lot about
Steve Jobs these days. Inevitably this concept
comes up.
Itās true in design, itās true in metrics, itās true in
prioritization, and itās true in strategy.
Whatās the one thing you want the user to do?
Whatās the fundamental use case your feature
addresses for users?
Example: Mobile First design
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13. Einsteinās Razor
8
Make things as simple as possible, but not simpler
!
!
!
Simplicity is not an absolute ideal.
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14. Final Thoughts
We can be our own harshest critics. In the mirror
we see every ļ¬aw, every mistake, every
imperfection.
These are the very early years. Things that seem
small now can and will be huge in 5 years. Each of
you can and will have a profound impact on that
future.
Behavior matters. Values matter.
Be a Great Product Leader.
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