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Lessons Learned by Eric Ries Wednesday, December 23, 2009 Why vanity metrics are dangerous In a previous post, I defined two kinds of metrics: vanity metrics and actionable metrics. In this post, Id like to talk about the perils of vanity metrics. My personal favorite vanity metrics is "hits."
With a singular focus on building unicorns, very rapid growth has been a key metric. Silicon Valley’s conventional model is to integrate local experienced engineering, productdevelopment, and marketing people for the big push. Build for sustainability and resilience, as well as growth.
With a singular focus on building unicorns, very rapid growth has been a key metric. Silicon Valley’s conventional model is to integrate local experienced engineering, productdevelopment, and marketing people for the big push. Build for sustainability and resilience, as well as growth.
Building your public image and presence should start even before productdevelopment, through your website, logo, and blogging. You don’t have to be a heavily funded later stage startup to get access to “big data,” customer analytics, and metrics dashboards. Establishing your brand with interactive social media.
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!
In the quest for optimization, A/B tests, metrics, and funnels, we're in danger of losing the fun and value of creative work. When we demand overwhelming customer outcry before committing to the slightest product change, we're in danger of losing the value of creating a cool feature that takes too much effort but people just love.
We did a quick overview of the product. That earned us the right to ask questions of fact about their department’s mission, goals, operations, volumes, tools, methods, and success metrics. We followed that with an hour-long design review, including disclosure of product limitations. Twelve of 17 competitors were gone.
Through rapid experimentation, short productdevelopment cycles, and rigorous measurements of the right metrics, they can ascertain what customers really want. Customer development (the understanding of customer needs) must be married to agile development (a process which drives waste out of productdevelopment).
Inconsistent startup outsource 4-5 times as much of their productdevelopment than consistent startups. In discovery phase 60% of inconsistent startups focus on validating a product and 80% of consistent startups focus on discovering a problem space. Inconsistent startups write 3.4 times more code in efficiency stage.
Often board members themselves don’t do the work to say “what metrics would we like to see.” Any great board member should tell you, “please don’t create any performance metrics or materials that analyze the business that you’re not already creating for your own management’s use.” Sometimes they don’t even know.
But the thing I am most proud of about Rob is that he has taken a company with a uniquely talented founder & CTO – Nick Halstead – and managed to build a very tight working relationship with Nick where we drive world-class productdevelopment without having the usual founder / CEO conflicts. Further Reading.
And this year, we’re going to talk not just about business and productdevelopment, but we’ll be exploring one of the Lean Starutp movements next big frontiers: the role of design. No BS, no vanity metrics, no launches, no PR. And those are just our keynotes! We also have an awesome lineup of case studies.
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.
Building your public image and presence should start even before productdevelopment, through your website, logo, and blogging. You don’t have to be a heavily funded later stage startup to get access to “big data,” customer analytics, and metrics dashboards. Establishing your brand with interactive social media.
Lessons Learned by Eric Ries Tuesday, March 24, 2009 The metrics and levers of engagement, presentation on Engagement Loops for Facebook Developer Garage SF Ill be presenting a talk at the Facebook Developer Garage SF Wednesday evening. What good are these metrics if they dont help guide product or business decisions?
Focus on the output metrics of that part of the product, and you make the problem a lot more clear. I had the opportunity to pioneer this approach to funnel analysis at IMVU, where it became a core part of our customer development process. Whatever its purpose, try measuring it only at the level that you care about.
This will include the first version of many critical processes that can be split out later, including market opportunity, requirements, product definition, business model, sales process, and organization. Productdevelopment process. If you are contracting or outsourcing, this is even more important.
We have to manage to learn something from our first product iteration. In a lot of cases, this requires a lot of energy invested in talking to customers or metrics and analytics. Refreshing to finally see lean and agile thinking emerge in product/business-floors and not only in technology. Great Post - could not agree more.
The application of agile development methodologies which dramatically reduce waste and unlock creativity in productdevelopment. See Customer Development Engineering for my first stab at articulating the theory involved) Ferocious customer-centric rapid iteration, as exemplified by the Customer Development process.
At least, not in the traditional sense of trying to squeeze every tenth of a point out of a conversion metric or landing page. In fact, the curse of productdevelopment is that sometimes small things make a huge difference and sometimes huge things make no difference. For example, I’m a big believer in split-testing.
Product managers should also understand the company’s goals. It is one of the most important processes in a productdevelopment lifecycle to deliver the product. The product itself can be ideal and work faultlessly, but what really matters is how it enters the market. necessary product. necessary product.
It outlines four major growth strategies: market penetration , market development , productdevelopment , and diversification. Productdevelopment. Productdevelopment allows you to expand your existing market share by developing a new product for that audience. New channels.
Every board meeting, the metrics of success change. Their product definition fluctuates wildly – one month, it’s a dessert topping, the next it’s a floor wax. And what of the productdevelopment team? Time-to-complete-a-sale is not a bad metric for validated learning at this stage.
In a startup, both the problem and solution are unknown, and the key to success is building an integrated team that includes productdevelopment in the feedback loop with customers. 2008 09 06 Eric Ries Haas Columbia Customer Development Engineering View SlideShare presentation or Upload your own.
If you don’t understand your key financial metrics, you have no way of monitoring your business’s health—and you risk mingling assets, incurring penalties for filing taxes late, overlooking expenses, and running into difficulties paying bills and employees, just to mention a few! Each article will give you: A brief definition of the metric.
But first I think we need to save the product manager from that special form of torture only a waterfall productdevelopment team can create. Labels: productdevelopment 8comments: Vincent van Wylick said. This post has been removed by the author. Startup Lessons Learned - the Conference (April 23.
This is the first post that moves into making specific process recommendations for productdevelopment. Two Ways to Hold Entrepreneurs Accountable Beware of Vanity Metrics For Startups, How Much Process Is Too Much? Labels: productdevelopment Speed up or slow down?
Capturing and analyzing data enables companies to get insights that benefit their companies in cost-saving, relevant marketing, productdevelopment, etc. Such metrics can also help identify the right products to be marketed in front of the customer, resonating marketing strategy, suitable medium to interact with the customer, etc.
Own the development methodology - in a traditional productdevelopment setup, the VP Engineering or some other full-time manager would be responsible for making sure the engineers wrote adequate specs, interfaced well with QA, and also run the scheduling "trains" for releases. Labels: productdevelopment 15comments: mukund said.
I am convinced one of Joel Spolskys lasting contributions to the field of managing software teams will turn out to be the Joel Test , a checklist of 12 essential practices that you could use to rate the effectiveness of a software productdevelopment team. He wrote it in 2000, and as far as I know has never updated it.
Luckily, I now have the benefit of a forthcoming book, The Principles of ProductDevelopment Flow. Labels: five whys root cause analysis , productdevelopment 11comments: Peter Severin said. Its really helped me articulate my thinking on this topic, and includes an entire chapter on the topic of reducing batch size.)
Ever since that time, I have struggled to explain how the feedback loop in customer development should interface with the feedback loop in productdevelopment. Eric Ries Lean Startup Schematic View Of Agile Development And Customer Development View more presentations from Eric Ries.
I used to think that investments in metrics were a form of waste. Customers dont care if you have good metrics, only if you have a good product. The only reason we learned the art of metrics-based decision making at IMVU was out of necessity. Labels: productdevelopment 4comments: Doug said. Thank you Eric.
Startups especially can benefit by using technical debt to experiment, invest in process, and increase their productdevelopment leverage. The biggest source of waste in new productdevelopment is building something that nobody wants. Leverage productdevelopment with open source and third parties.
Because five whys kept turning up a few key metrics that were hard to set static thresholds for, we even had a dynamic prediction algorithm that would make forecasts based on past data, and fire alerts if the metric ever went out of its normal bounds. You can even read a cool paper one of our engineers wrote on this approach).
Have you developed any vision of a productdevelopment strategy? And keep in mind that the best option is to develop at least 5 domain names connected to your brand’s name to find an unoccupied domain. At least 6 team members should participate in your productdevelopment. What slogan do you see there?
dalelarson : "Metrics are people, too." leanstartup ericnsantos : #w2e #leanstartup Metrics should be Actionable, Accessible and Auditable. Metrics are a key questions startups face. Metrics are people too" is a reminder I constantly needed when I was a manager. ericries s talk on Lean Startups absolutely fantastic.
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. Startup Lessons Learned - the Conference (April 23.
It slows productdevelopment. The key is to connect user research to an improved user experience and, in turn, an increase in customer retention, leads, or any other metric for which C-suite members are accountable. Include notes from your internal team that explain how insights are influencing productdevelopment.
Its inspired by the classic OODA Loop and is really just a simplified version of that concept, applied specifically to creating a software productdevelopment team. There are three stages: We start with ideas about what our product could be. Thoughts on scientific productdevelopment Lo, my 5 subscribers, who are you?
Lessons Learned by Eric Ries Monday, October 6, 2008 When NOT to listen to your users; when NOT to rely on split-tests There are three legs to the lean startup concept: agile productdevelopment , low-cost (fast to market) platforms , and rapid-iteration customer development. I think Drucker said it best.
As an entrepreneur raised in the era of analytics, I want to find metrics for everything. PopInShop’s progress retroactively validated my decision, as the metrics on overall growth supported my gut: after reverting to my status as a lone founder, the company made fast strides on productdevelopment and partnerships.
Startup Visa update ► February (5) Kiwi lean startup + Australia next Why diversity matters (the meritocracy business) Beware of Vanity Metrics (for Harvard Business Rev. Thoughts on scientific productdevelopment Lo, my 5 subscribers, who are you? Startup Lessons Learned - the Conference (April 23.
Startup Visa update ► February (5) Kiwi lean startup + Australia next Why diversity matters (the meritocracy business) Beware of Vanity Metrics (for Harvard Business Rev. Thoughts on scientific productdevelopment Lo, my 5 subscribers, who are you? Startup Lessons Learned - the Conference (April 23.
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