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How to Find & Prioritize the Best Growth Ideas by Josephine Foucher, PM - Optimization, Hotwire
This document outlines steps for building a culture of growth, generating new ideas, and establishing a process for testing ideas. It recommends creating a network of promoters within the company, socializing both winning and losing results to build knowledge, and framing new initiatives as testable hypotheses. Key parts of the process include prioritizing hypotheses based on potential value and effort required, and using results to inform future iterations that either amplify wins or move on from losses and inconclusive tests. The overall goal is to define a company's strategy, understand strengths and weaknesses, engage diverse teams to generate new ideas, and establish an efficient process for testing and building upon ideas.
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How to Find & Prioritize the Best Growth Ideas by Josephine Foucher, PM - Optimization, Hotwire
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- 2. Agenda • Build theculture • Find the best ideas • Set up the process 2
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- 5. 5 Create your network of promoters Find your champions Engage different teams Product Engineering Design It takesa village to build a growth culture
- 6. Make people vote and prove them wrong! 6 Socialize results Make sure yourresults don’t get buried Build a repository of examples • Biggest WINNERS • Biggest LOSERS
- 7. Control Variant 1 Winner Loser Variant 2 Celebrate insights not just winners Give permissionto fail to allow great discoveries
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- 9. 9 Start with your strategy Company strategy Business goals Growth program goals Test Hypothesis Define your strategyto know where you want to go then use tes%ng to get there
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- 11. 11 Educate Be crea-ve Empower people Engage the whole company Different teamshave different lenses, get them involved
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- 13. • Highlight what you are proposing • Outline your success metrics • State your reasoning Frame your ini-a-ves as Hypotheses 13 Bad Example: “If westructure the details page in a more diges6ble way then we can increase GPPQ because customer will find relevant info more easily Good Example: “Let’s test a different book buCon colour.” IF … THEN … BECAUSE …
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- 15. 15 Build Knowledge Loser or Inconclusive • Strategic value? • Bad execuRon? Iterate Move on Winner Amplify No Yes Use past results to inform next steps Promote
- 16. 16 In summary: Culture, Ideas, Process Process • Use hypotheses • PrioriRze • Build knowledge 1 2 3 Culture • Find your promoters • Socialize results • Celebrate insights Ideas • Define your strategy • Know yourself • Get people engaged Your turn!
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