Some work is very clearly product work. It’s work on things where the success and failure is dependent on the users of the thing. Your users pay you. Their satisfaction matters above all else. Optimizing for the satisfaction of end users is a distinct activity. Hypotheses have to be assessed and then tested – because it’s very likely that you’re going to be wrong. There’s technology that has to be set up such that it’s reliable and robust for the intermediate to long run. It’s designed to be effective and persistent, with all of the instrumentation that goes along with that. That might include manual A/B testing, user-focused analytics, and extra special attention on the optimization objective. Clear product work is[…]
Tag: startups
Why does it seem like all the unimportant, easy stuff gets done first? Look up The Urgency Bias. Employing simplified games and real-life consequential choices, we provide evidence for “urgency bias”, showing that people prefer working on urgent (vs. important) tasks that have shorter (vs. longer) completion window however involving smaller (vs. bigger) outcomes, even when task difficulty, goal gradient, outcome scarcity and task interdependence are held constant.- Zhu, Yeng, Hsee (2014) Even when task difficulty, goal gradient, outcome scarcity AND task interdependence is held constant, urgency wins. Even when it would be more beneficial to do something important instead of something urgent, even when you’re painfully made aware of those incentives, you still gravitate towards doing the urgent. There’s[…]
A data driven culture isn’t necessarily devoid of creativity or imagination. Just the opposite. They’ll have to be especially patient around brand formation. Brands A brand exists in the mind of a person. It usually costs a lot of money for a brand to be impressed upon the cortex of a person. There are certain economies of scale that kick at scale, but still at a considerable cost. If that feels fuzzy, despair not. The framework below is fantastic: Brand and CAC The optimization objective of a startup is valuation. To maximize valuation, Customer Acquisition Cost has to be minimized. As previously explored, nature doesn’t cooperate to keep CAC low. The point of the brand is to reduce CAC[…]