Do's and don'ts Product- montaigne.pdf
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"Great Companies are built on great products" -Elon Musk In our series of "Start Up Do's and Don'ts" This week: Product
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- Balanced scorecard - A framework that translates an organization's strategy into objectives and measures across financial, customer, internal process, and learning/growth perspectives.
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Content acquisition strategies are also discussed, highlighting the dual approach of purchasing broadcasting rights for existing films and TV shows and investing in original content production. This section underscores the importance of a robust content library in attracting and retaining subscribers.The presentation addresses the challenges faced by OTT platforms, including the unpredictability of content acquisition and audience preferences. It emphasizes the difficulty of balancing content investment with returns in a competitive market, the high costs associated with marketing, and the need for continuous innovation and adaptation to stay relevant.
The impact of OTT platforms on the Bollywood film industry is significant. The competition for viewers has led to a decrease in cinema ticket sales, affecting the revenue of Bollywood films that traditionally rely on theatrical releases. Additionally, OTT platforms now pay less for film rights due to the uncertain success of films in cinemas.
Looking ahead, the future of OTT in India appears promising. The market is expected to grow by 20% annually, reaching a value of ₹1200 billion by the end of the decade. The increasing availability of affordable smartphones and internet access will drive this growth, making OTT platforms a primary source of entertainment for many viewers.
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IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
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- 2. IF YOU AREN’T EMBARRASSED BY THE FIRST VERSION OF YOUR PRODUCT, YOU SHIPPED TOO LATE. – Reid Hoffman, Co-founder of Linkedin
- 3. Do Don't Envision your dream customer and build an MVP around that. The main objective at this stage is to get customers to use your product so that you can get feedback on what does and does not work with your business model. Don't focus too much on predetermined customer segment and demographics (economic status, age, location). Instead focus on building and learning from customer feedback.
- 4. Do Don't Adopt a flexible and iterative approach to product development. Since you are often trying to validate a new product or business model, you may need to pivot or make changes to the product roadmap based on customer feedback and market conditions Don't have rigid processes or adopt long product development cycles. Limited resources, (financial resources, human resources, and time) require more agile and creative solutions
- 5. Do Don't Product managers have to take on a wider range of responsibilities and wear many hats. They have to make quick decisions and pivot as needed Don't have layers of approval and bureaucracy to navigate which slows down decision making and growth of your start up.
- 6. Do Don't 40% data, 60% "#Yolo" Since you’re creating a breakthrough innovation, there is usually not a lot of data to justify what you do. Most of the time, it’s about learning fast and moving on. Don't try to fill all the checkboxes. The start-up has to be prepared to go on a roller coaster ride till you evolve the product from an MVP to a fully-functional one.
- 7. Do Don't Startups needs to have a entrepreneurial and agile culture, where employees are expected to take ownership of their work and be willing to adapt to change. Don't take notes from big companies. Leave the hierarchical culture and processes to established companies.
- 8. INNOVATE TODAY, INSPIRE TOMORROW