how to make better product decisions
Post on 13-Sep-2014
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DESCRIPTION
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/blogTRANSCRIPT
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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
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{
How to Make Better
Product Decisions Teresa Torres Vice President, Products @ AfterCollege
www.producttalk.org
@ttorres
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Think about how you
make product
decisions.
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Startup ROI Source: http://jtangovc.com/venture-capital-and-its-33-success-rate/
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Startup Failure Rates Source: http://www.statisticbrain.com/startup-failure-by-industry/
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First Model:
The Product Genius
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You’re the
CEO of your product.
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You generate the ideas.
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You are The Decider.
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You are the expert.
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You don’t have time to
analyze everything …
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So you rely on
your expert intuition.
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The Challenge: When is expert intuition
good?
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Expert intuition
is good when …
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Environments are
predictable.
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You can practice with
reliable feedback.
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Is this how product
works?
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Second Model:
Customer Development
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Get out of the building.
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Phases of Product
Growth
Customer Validation
Customer Creation
Company Building
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Iterate
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The Challenge: Customer Development is
hard.
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The Challenge: Confirmation bias interferes.
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Third Model:
The Lean Startup
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Hypothesis-Driven
Product Development
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Draw lines in the sand.
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Minimum Viable Product
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The Challenge: Fundamental Attribution Error
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The Challenge: Narrow Framing
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The Challenge: Overconfidence
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So what’s next?
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We get to decide.
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We can’t just build
products.
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We need to master our
craft.
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We need to develop our
skills.
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We need to keep evolving
our processes.
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Think about how you
make product
decisions.
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Keep the conversation going:
www.producttalk.org
@ttorres