how not to manage product (mike arsenault) - failcon 2012
DESCRIPTION
My talk from Failcon 2012 - October 22nd, 2012TRANSCRIPT
![Page 1: How Not To Manage Product (Mike Arsenault) - Failcon 2012](https://reader036.vdocuments.mx/reader036/viewer/2022081403/55534526b4c9059e688b47bd/html5/thumbnails/1.jpg)
@mikearsenault #failcon
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@mikearsenault #failcon
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@mikearsenault #failcon
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@mikearsenault #failcon
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@mikearsenault #failcon
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@mikearsenault #failcon
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@mikearsenault #failcon
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@mikearsenault #failcon
LEARN FROM OUR MISTAKES
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@mikearsenault #failcon
SMB Phone System
Grasshopper R&D
SaaS Subscription Billing 2010
2009
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@mikearsenault #failcon
2010
SMB Word of Mouth
April 2011
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@mikearsenault #failcon
2010
SMB Word of Mouth
April 2011
$500,000 14 MONTHS
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@mikearsenault #failcon
40,000 CUSTOMERS
0 SALESPEOPLE
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@mikearsenault #failcon
40% WORD OF MOUTH
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@mikearsenault #failcon
Encourage More Referrals
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@mikearsenault #failcon
Refer An Entrepreneur
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@mikearsenault #failcon
$200 CPA
1.5% CONVERSION
22% CONVERSION
$25 CPA
$100K SIGN UP REVENUE
Otהr"ar#$% &'(ls Re)r ' Ent*p*(ur
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@mikearsenault #failcon
Word of Mouth Referral System
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@mikearsenault #failcon
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@mikearsenault #failcon
+7
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@mikearsenault #failcon
✔ A+, Experienced Team
✔ Experienced Founders
✔ 40,000 Customers
✔ 2,000 Beta Opt-ins
✔ Endless Resources
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@mikearsenault #failcon
We still failed.
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@mikearsenault #failcon
Why?
3x CHURN
+dn’t ,- . Cus./rs
![Page 23: How Not To Manage Product (Mike Arsenault) - Failcon 2012](https://reader036.vdocuments.mx/reader036/viewer/2022081403/55534526b4c9059e688b47bd/html5/thumbnails/23.jpg)
@mikearsenault #failcon
Why?
3x CHURN
3x CPA
+dn’t ,- . Cus./rs
Ra0o Ads?
L1 2ar3 45/
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@mikearsenault #failcon
Why?
3x CHURN
3x CPA
✗ High Touch
+dn’t ,- . Cus./rs
Ra0o Ads?
L1 2ar3 45/
No 67s97פ
![Page 25: How Not To Manage Product (Mike Arsenault) - Failcon 2012](https://reader036.vdocuments.mx/reader036/viewer/2022081403/55534526b4c9059e688b47bd/html5/thumbnails/25.jpg)
@mikearsenault #failcon
Wasted Our Beta List
![Page 26: How Not To Manage Product (Mike Arsenault) - Failcon 2012](https://reader036.vdocuments.mx/reader036/viewer/2022081403/55534526b4c9059e688b47bd/html5/thumbnails/26.jpg)
@mikearsenault #failcon
Wasted Our Beta List
CHIRP
![Page 27: How Not To Manage Product (Mike Arsenault) - Failcon 2012](https://reader036.vdocuments.mx/reader036/viewer/2022081403/55534526b4c9059e688b47bd/html5/thumbnails/27.jpg)
@mikearsenault #failcon
Engineering Design
Product
Bigger Team ≠ Higher Velocity
![Page 28: How Not To Manage Product (Mike Arsenault) - Failcon 2012](https://reader036.vdocuments.mx/reader036/viewer/2022081403/55534526b4c9059e688b47bd/html5/thumbnails/28.jpg)
@mikearsenault #failcon
Didn’t Charge From Day 1
![Page 29: How Not To Manage Product (Mike Arsenault) - Failcon 2012](https://reader036.vdocuments.mx/reader036/viewer/2022081403/55534526b4c9059e688b47bd/html5/thumbnails/29.jpg)
@mikearsenault #failcon
Didn’t Charge From Day 1
MUST HAVE
![Page 30: How Not To Manage Product (Mike Arsenault) - Failcon 2012](https://reader036.vdocuments.mx/reader036/viewer/2022081403/55534526b4c9059e688b47bd/html5/thumbnails/30.jpg)
@mikearsenault #failcon
Didn’t Charge From Day 1
MUST HAVE
DATA
![Page 31: How Not To Manage Product (Mike Arsenault) - Failcon 2012](https://reader036.vdocuments.mx/reader036/viewer/2022081403/55534526b4c9059e688b47bd/html5/thumbnails/31.jpg)
@mikearsenault #failcon
Didn’t Charge From Day 1
MUST HAVE
DATA FEEDBACK
![Page 32: How Not To Manage Product (Mike Arsenault) - Failcon 2012](https://reader036.vdocuments.mx/reader036/viewer/2022081403/55534526b4c9059e688b47bd/html5/thumbnails/32.jpg)
@mikearsenault #failcon
Didn’t Charge From Day 1
MUST HAVE
DATA FEEDBACK MORALE
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@mikearsenault #failcon
Product > Marketing
![Page 34: How Not To Manage Product (Mike Arsenault) - Failcon 2012](https://reader036.vdocuments.mx/reader036/viewer/2022081403/55534526b4c9059e688b47bd/html5/thumbnails/34.jpg)
@mikearsenault #failcon
Product > Marketing
Building Product
Talking To Users
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@mikearsenault #failcon
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@mikearsenault #failcon