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Lessons Learned by Eric Ries Sunday, April 26, 2009 Productdevelopment leverage Leverage has once again become a dirty word in the world of finance, and rightly so. But I want to talk about a different kind of leverage, the kind that you can get in productdevelopment. Its a key lean startup concept. Great post!
I didn’t mean to be so insulting and I didn’t mean for the net to be cast so wide that many people wondered whether I was talking about them when I was speaking of “job hoppers.&# I learned a lot from reading the comments. I learned how to better run a product management process.
Over 13 years ago, in March of 2000, I wrote a blog post titled “ The Most Powerful Internet Metric of All. ” The key thesis was this: if an Internet company could obsess about only one metric, it should be conversion. As such, it is time to pound the table again – conversion is by far the most powerful Internet metric of all.
The net result: we sold exactly zero presidential debate avatars. We finally settled on a $1.99 price point, figuring that we wouldnt make much money, but at least we wouldnt get in the way of achieving scale. Finally the day came, we unleashed the landing page, emailed our existing customers, and started advertising online.
Customer development is a parallel process to productdevelopment, which means that you dont have to give up on your dream. Our goal in productdevelopment is to find the minimum feature set required to get early customers. This is a common mistake. Lo, my 1032 subscribers, who are you?
The net effect of all this was to make new engineers incredibly productive right away – in most cases, we’d have them deliver code to production on their very first day. Labels: five whys root cause analysis , productdevelopment 15comments: Anonymoussaid. Leave your thoughts in a comment.
We ran ad campaigns against every single product we could think of in an adjacent market space to ours. Since we were only paying per click, it didnt cost us anything to cast a wide net. We would pretty much bid on any phrase that was "[name of competitive product] chat" and variations like that.
People are even talking about “decacorns" -- investable companies with net worth now exceeding $10 billion -- like Dropbox and Pinterest. This term refers to an initial venture-capital investment, often wrongly sought to seed early productdevelopment. Prime examples include Uber, Airbnb and Snapchat. Seed-round investment.
If youre just getting negativity from someone, they are more likely a internet troll - not an earlyvangelist. Some techniques that Ive found especially helpful: Build your own tracking survey, using a methodology like Net Promoter Score (NPS) to identify and get a regular check-up from promoters (and to screen out detractors).
There are a couple classic archetypes of internet/software founders, including the genius college student cooking up something quirky but ultimately disruptive in his dorm room who launches his company straight out of undergrad. Reactions when I told people I was an “internet entrepreneur” ranged from smirks to blank stares.
In the past two decades, they have accounted for nearly all the net job growth in our country. The cost of creating new companies is falling rapidly, and access to markets, distribution, and information is within the reach of anyone with an Internet connection. Startups are the lifeblood of our economy.
Eric, Any thoughts on how forum feedback fits into customer development and agile productdevelopment? Youve probably addressed this in the past, but I continue to be blown away by how fast Blizzard reacts to noise in their forums and rapidly makes fixes to the product. =) November 4, 2008 10:58 PM IMVU said.
Lo, my 1032 subscribers, who are you? ScienceDaily: Corporate culture is most important. The four kinds of work, and how to get them done: The four kinds of work, and how to get them done: Five Whys Where did Silicon Valley come from? . Take a look and let me know what you think.
Strategy - startups first encounter this when they have the beginnings of a product, and theyve achieved some amount of product/market fit. As the company grows, this kind of work generalizes into "executing the companys current strategy." Lo, my 1032 subscribers, who are you? ScienceDaily: Corporate culture is most important.
Altor Networks was founded in 2007 by security and networking experts from Israel’s Internet security giant Check Point. Virtualization and cloud computing products allow multiple users to run on a single physical host, with each virtual machine sharing the resources of that hardware across multiple environments.
Lo, my 1032 subscribers, who are you? ScienceDaily: Corporate culture is most important. The four kinds of work, and how to get them done: The four kinds of work, and how to get them done: Five Whys Where did Silicon Valley come from? . Take a look and let me know what you think.
The economics of these process trade-offs are discussed in the Principles of ProductDevelopment Flow.) Heres an excerpt: In a previous article, we called Toyota’s productdevelopment system the “second Toyota paradox.&# Labels: productdevelopment 5comments: new york web development company said.
Lessons Learned by Eric Ries Saturday, November 22, 2008 Net Promoter Score: an operational tool to measure customer satisfaction Ive mentioned Net Promoter Score (NPS) in a few previous posts, but havent had a chance to describe it in detail yet. Net Promoter Score NPS is a methodology that comes out of the service industry.
Even if it helps optimize one stage, if it slows you down somewhere else, it might not be a net win. Customer Development : a disciplined approach to finding out if there is a market for your product before its too late. Customer Development Engineering : techniques for accelerating your productdevelopment.
With staged releases, time provides a (somewhat illusory) safety net. No one wants to be solely responsible for bringing a production system down. With staged releases, time provides a (somewhat illusory) safety net. No one wants to be solely responsible for bringing a production system down.
Lo, my 1032 subscribers, who are you? ScienceDaily: Corporate culture is most important. The four kinds of work, and how to get them done: The four kinds of work, and how to get them done: Five Whys Where did Silicon Valley come from? . Take a look and let me know what you think.
I believe its important that product teams be cross-functional, no matter what other job function the product champion does. Its even more critical in lean startups when they need to manage growth. Lo, my 1032 subscribers, who are you? ScienceDaily: Corporate culture is most important. Take a look and let me know what you think.
Revenue is always my preferred measure, but you can use anything that is important to your business: retention, activation, viral invites, or even customer satisfaction in the form of something like net promoter score. Thoughts on scientific productdevelopment Lo, my 5 subscribers, who are you? 1 comments: Andrew Meyer said.
I appreciate the thought and care that went into The Farmstand, a productdeveloped by Zooey Deschanel and Jacob Pechenik that enables buyers to garden fresh vegetables without pesticides and less water than conventional gardening. Thanks to Richard Mews, Sell With Richard ! #14- 14- The Farmstand. Photo Credit: Amrita Saigal.
Lo, my 1032 subscribers, who are you? ScienceDaily: Corporate culture is most important. The four kinds of work, and how to get them done: The four kinds of work, and how to get them done: Five Whys Where did Silicon Valley come from? . Take a look and let me know what you think.
People in big companies see innovation through the lens of new productdevelopment. Fluency in these critical skills is the key to any entrepreneur’s success, not reading textbooks about product-market fit, and certainly not painstakingly constructing a business plan.
The internet. Usually royalties fall somewhere between 2 percent and 10 percent of the net profit. Websites: Quirky: This is a great place to learn about the productdevelopment process, and to take a shot at getting your idea picked from a host of others to be manufactured. That airplane thousands of miles above you.
Nearly all of the ones who''d been successful went through a natural process of customer development—what we call the “empathy” stage—followed by a tight focus on stickiness, then virality, then paid acquisition, and finally scaling. LSC: What''s an example of one metric, other than revenue, that you might look at for a non-tech product?
But if your new positioning message improves your engagement loop by more than the cost to your viral loop , you have a net win on your hands. Since your viral ratio is still above one, its still getting your message out, albeit a little slower. Take a look and let me know what you think.
Id been on the internet since I was playing MUDs as a kid, but by 1999 I felt Id already missed the boat. Of course, those were the days when 12 year old, 80% market share, $200mm, 30% net profit companies were the ones going public. I pretty much missed all the trends. In other words, companies that had delivered real value over time.
Lo, my 1032 subscribers, who are you? ScienceDaily: Corporate culture is most important. The four kinds of work, and how to get them done: The four kinds of work, and how to get them done: Five Whys Where did Silicon Valley come from? . Take a look and let me know what you think.
It’s not too much of an overstatement to say that, 20 years ago, at the beginning of the internet, you could put almost any quality of experience online. You could build a decent-sized user base without having a slick product at all, because you were moving people online for the first time. Absolutely. What are your benchmarks?
Lo, my 1032 subscribers, who are you? ScienceDaily: Corporate culture is most important. The four kinds of work, and how to get them done: The four kinds of work, and how to get them done: Five Whys Where did Silicon Valley come from? . Take a look and let me know what you think.
Lo, my 1032 subscribers, who are you? ScienceDaily: Corporate culture is most important. The four kinds of work, and how to get them done: The four kinds of work, and how to get them done: Five Whys Where did Silicon Valley come from? . Take a look and let me know what you think.
The technical interview is at the heart of these challenges when building a productdevelopment team, and so I thought it deserved an entire post on its own. Still, a startup productdevelopment team is a service organization. Labels: hiring , productdevelopment 5comments: TedHoward said.
In previous posts, I’ve mentioned quite a few of these, including these most important ones: having engineers post on the forums in their own name when they make a change routinely split-testing new changes routinely conducting in-person usability tests and interviews Net Promoter Score Each of these techniques is fundamentally bottoms-up.
Facing continuous disruption from globalization, China, the Internet, the diminished power of brands, changing workforce, etc., Product management tools like Stage-Gate ® emerged to systematically manage Waterfall productdevelopment. existing enterprises are establishing corporate innovation groups. StageGate Process.
Thanks to those of you who were willing to fill out the survey, I learned my net promoter score (about 25) as well as some clear other segmentation insights: about 80% of you are founders of or work at a startup, you read many of the same other blogs, and many of you would like to engage with Lessons Learned in formats and venues beyond this blog.
I would focus on one product and set a goal to generate $1M in yearly revenue from it. Do that – nothing else but one product / company / focus and get to $1M in sales with atleast $15% net profit. Near shoring development with your team (ex: your team is based in Canada / India) is cool, but not outsourcing.
It may wind up for sale on SitePoint , or it may be relegated to the bone yard of failed software products. The Upside The flip side to all of this is what you’ve already heard on the blogs of successful productdevelopers. Once a product hits critical mass you’ve conquered the hardest part of the equation.
However, I prefer to think that I learned a new way of testing a market very quickly – without a product – to see if people actually want the product, thus increasing the potential for success. The bottom line is that you’d be wiser to really care about your work, because this will likely show in the finished product.
The internet today is a fundamental paradigm shift. All of that to simply say that I think data is really important, and I'm a passionate believer in a data-driven productdevelopment, marketing, employee hiring, stocking the pantry at your office, and so much more. RM+RP+RT is finally possible. Fewer guesses. Magnificent.
There are also a host of community sites dedicated to perl, and equally as many for the other prominent internet languages. NET CREATIVE MIND TEAM [link] February 17, 2009 2:32 AM Anonymoussaid. One of the biggest pros you attribute to PHP is its community. Honestly, the PEAR database is nothing compared to CPAN. Thanks Again.
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