How To Make Better Product Decisions

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On August 14 at the Startup Product Talks SFBay meetup Teresa Torres, VP Product, AfterCollege gave a great presentation that was quite provoking and inspired much animated conversation. Read the recap here: http://bit.ly/12hxc84 Follow http://startupproduct.com/blog

Business

Teresa Torres, VP Products, AfterCollege
Startup Product Talks SFBay
Atlassian Dev Den, San Francisco, CA
08.14.2013
A Startup Product Talks Presentation
http://StartupProduct.com

{
How to Make Better
Product Decisions
Teresa Torres
Vice President, Products @ AfterCollege
www.producttalk.org
@ttorres

Think about how you
make product
decisions.

Startup ROI
Source: http://jtangovc.com/venture-capital-and-its-33-success-rate/

Startup Failure Rates
Source: http://www.statisticbrain.com/startup-failure-by-industry/

You don’t have time to
analyze everything …

The Challenge:
When is expert intuition
good?

You can practice with
reliable feedback.

Phases of Product
Growth
Customer
Validation
Customer
Creation
Company
Building

The Challenge:
Customer Development is
hard.

The Challenge:
Confirmation bias interferes.

The Challenge:
Fundamental Attribution Error

Keep the conversation going:
www.producttalk.org
@ttorres

1. Test Assumptions, Not Ideas The Lean Startup popularized the idea of testing the assumptions that need to be true in order for your ideas to work. 2. Build it and test it It can be challenging, however, to see our own assumptions let alone test them. 3. Discovery process In this Masterclass, you’ll learn a structured approach for how to take an idea, break it down into its underlying assumptions, and quickly prioritize the ones that need to be tested. 4. Tools to help you Finally, you’ll learn a simple framework for how to design fast and better. 5. And many more strategies Such as effective assumption tests so that you can quickly identify what to build.

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1. Tips and tricks to remove your own bias from your map Experiences are holistic, personal, and situational, and while you choose a point of view, as a mapmaker it’s up to you to decide which aspects to include and which to leave out. 2. Taking the risk Testing your map, assume it’s wrong, but don’t get stuck in planning. 3. Business Model and Strategic POVs are needed Realize the experts involved in creating the product will probably not be the best experts you will need to deliver the product to the users. 4. Tools to help you Understand common gotchas, and what to avoid. 5. And many more strategies Gain an outside-in view of the individuals' experience with the service.

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Shifting From Managing By Outputs To Managing By Outcomes If you are like most leaders, you got to where you are because you are good at making decisions. You can quickly go from strategy to execution. You know exactly what should be done next. But for most of us, this strength can become a weakness. When we make all the output decisions (e.g. what to build, what programs to roll out, how a process should work), our company’s solutions are only as good as we are. To avoid this trap, instead of telling our teams what to do, we need to tell them what outcomes we expect them to drive. It’s a subtle, but powerful shift. In this talk, Teresa will explore how your role changes when you manage by outcomes.

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How To Make Better Product Decisions

1. Teresa Torres, VP Products, AfterCollege Startup Product Talks SFBay Atlassian Dev Den, San Francisco, CA 08.14.2013 A Startup Product Talks Presentation http://StartupProduct.com

2. { How to Make Better Product Decisions Teresa Torres Vice President, Products @ AfterCollege www.producttalk.org @ttorres

3. Think about how you make product decisions.

4. Startup ROI Source: http://jtangovc.com/venture-capital-and-its-33-success-rate/

5. Startup Failure Rates Source: http://www.statisticbrain.com/startup-failure-by-industry/

6. First Model: The Product Genius

7. You’re the CEO of your product.

8. You generate the ideas.

9. You are The Decider.

10. You are the expert.

11. You don’t have time to analyze everything …

12. So you rely on your expert intuition.

13. The Challenge: When is expert intuition good?