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How product managers can foster a culture of innovation Watch on YouTube [link] TLDR In this episode of Product Mastery Now, I’m interviewing Chris Elmore, a tech entrepreneur and college professor who helped found Avid Exchange, a unicorn startup that went public in 2021. Or have you seen another employee do this?
The discussion reveals how product management has evolved since 1931 and highlights the importance of clear role definition to prevent job frustration. The core focus of these activities is on thorough market research, continuous customer engagement, and strategic product development.
Stripe: Product Manager, Local Payment Methods Cost Optimization Stripe is a financial infrastructure platform for businesses. Millions of companies, from the worlds largest enterprises to the most ambitious startups, use Stripe to accept payments, grow their revenue, and accelerate new business opportunities.
Along the way, he helped Square scale from a late-stage pre-IPO startup to $3.6 billion in annual gross profit, expand globally, and build out a full suite of products across payments, banking, and SaaS. Prior to Square, Saumil was a startup founder for LocBox, a marketing automation company that was acquired by Square in 2015.
The Evolution of the AARRR Framework The AARRR framework was initially conceived as a methodology for startups to organize and prioritize their growthefforts. Over time, it has evolved from a simple set of metrics into a comprehensive system for understanding user behavior at each stage of the product journey PostHog,2023. USERTESTING.
When we launched Zomato (then FoodieBay), I ended up putting together a basic version of the product, and we hired a student from IIT as an intern (Gunjan, now our CTO), to work on the first version of the product. To my mind, a tech startup should try to avoid outsourcing the first version of their product.
Userguiding – Best startup-friendly platform for automated onboarding. Can it support different onboarding processes across teams, products, or even platforms without needing constant dev help? Pricing and use case : Some tools are made for startups with limited resources. Definitely worth the investment!” — Taylor B.
Microsoft’s Frontier program is a new experimental product lab for internal and external early adopters to get hands-on with the most advanced, rough-cut AI tools and agents focused on productivity and work.
Table of Contents The problem with defining product-market fit In search of quantitative indicators of product-market fit 6 things about measuring product-market fit 1. With that in mind, product-market fit is a spectrum 4. Once you find product-market fit, it’s not static 6.
Tech billionaire Marc Andreessen has been credited with bringing the term “product/market fit” into the mainstream lexicon in 2007. During my dealings with investors and product veterans, I’ve often heard that you can always feel when product/market fit is happening. Usual Benchmarks to Measure Product/Market Fit.
Product-market fit (PMF) is a tricky thing for startups. It’s that sweet spot where the needs of your target market perfectly align with what your product is offering, and if you’re a product manager at an early startup, it’s your job to help your product find that fit. Until the 40% rule.
If you are on the journey toward product-market fit, you know it’s not easy. Every new product has its own fit to find. One of the hardest challenges of any product and any startup is of course reaching product-market fit. product-market fit under the hood. So here it is?—?product-market
Product Can you tell if your product is on the right track? It’s easy to answer whether you have a product/market fit: can the revenue your customers pay for your product sustain (or even grow) your business? But how can you know whether your market-fit is strong enough, or if you’re focusing on the right audience?
One thing above all makes a successful startup: people who purchase and love the product. If you have that, it means you’ve managed to offer the market exactly what it needs or, in other words, achieved a product/market fit (PMF). But how come it’s so challenging to reach success as a startup?
The customer development and lean startup methodologies evangelized by Steve Blank and Eric Ries brought us a better approach that favored experimentation over elaborate planning, customer feedback over intuition, and iterative design over traditional “big design up front” development. I saved how best to validate them for my next post :)
After leaving the Navy and working on nuclear submarines, Dan Olsen embarked on a career that has spanned enterprises and start-ups, consulting, speaking, writing, and running the Lean Product & Lean UX meetup. He joined us to talk about product/market fit: what it is, how to know when you have it, and how to achieve it.
She currently leads Product Management at Obo, where she is working on agile product management software that aims to reduce the high failure rates for new products. Before Creative Cloud, we had a product called CS Live, which was a total failure. The Creative Cloud was a definite risk.
In working at Seedcamp and helping over 100 startups understand product thinking, Taylor Wescoatt has learned some valuable lessons he’d like to share, together with some real-world examples to drive the point home! It takes a while to reach that fit to the point that you can optimize business and product strategy independently!
Yet in Mark’s experience working with and mentoring startups, he’s found that many entrepreneurs go with intuition over information. Those risks can be fatal: Mark has found a 75% failure rate for both Series A and Series C startups (as he presented during his 2019 SaaStr talk.). I think that’s message-market fit.
An insight into ProductMarketing roles, responsibilities and KPIs after interviewing dozens of ProductMarketing Managers. Everyone is hiring ProductMarketing Managers (“PMMs”) and there is a great demand for expertise in this space, so read on for a strategic and tactical definition of “What is ProductMarketing?”.
SaaS companies have started to realize that their products should be the main driver of growth. This product-led growth flips the old marketing and sales rulebooks on their heads. Productmarketing is a large part of this shift. Product-Led Growth. What a productmarketing strategy involves.
It’s free, available to everyone, and if you can pull off a great launch, Product Hunt can change your startup’s growth trajectory. However, the little-known truth is that of the thousands of startup founders who try their hand at Product Hunt each week, very few see any impact.
What No One Tells You About Being a Product Manager at an Early Stage Startup Over a year ago, I asked around, searched for books or articles, went to several talks but found very little advice on being a product manager at an early-stage startup. Finally, make sure to focus on the highest value product initiatives.
Speed, the ability to move and improve, to iterate and innovate, is paramount, and if you listen to Intercom on Product regularly, this probably sounds familiar. Not too long ago, when Intercom turned 10 , we dedicated an entire episode to speed , or why startups should always strive to keep momentum as they scale.
Photo by JOSHUA COLEMAN on Unsplash Most of the CEOs I work with, understand that the role of the product leader is very important. Whenever I talk to startup CEOs, especially first-timers, the discussion on product goes immediately to UX and wireframes. But what is productdefinition exactly?
Everyone knew that if a user signs up on Twitter and follows 50 people, chances are they will keep using Twitter forever… but how did [they] get to this very simple Aha moment definition? The Product Experience is hosted by Lily Smith and Randy Silver. The Product Experience is hosted by Lily Smith and Randy Silver.
Fascinating discussion about what it’s like for a serial entrepreneur to raise money, operate a startup, lessons learned, etc. Why startups are hard – the math of venture capital tells the story. Why startups are hard – the math of venture capital tells the story. Is your startup idea already taken?
The Four Steps to the Epiphany: Successful Strategies for Startups That Win by Steve Blank?—?This Zero to One: Notes on Startups, or How to Build the Future by Peter Thiel?—?Theil some ideas and investments have outsized returns Focus Having a definite plan for the future There is no formula Last Mover advantage 3. by Justin?—?Takes
How we used the Superhuman’s Product-Market Fit model to learn what to build and whom to target A few months back I read an amazing Blog post by Rahul Vohra about how Superhuman was able to reach Product-Market Fit. I think there is definitely a better way to write it!
SaaS companies have started to realize that their products should be the main driver of growth. This product-led growth flips the old marketing and sales rulebooks on their heads. Productmarketing is a large part of this shift. Product-Led Growth. What a productmarketing strategy involves.
By ensuring the external messaging is in sync with the internal product planning your opportunity for success and customer satisfaction is greatly increased. Product people need to think end to end. Today, as always, I’m joined by our SVP of product, Mr. Paul Adams. What is productmarketing? Hello, Paul.
ProductMarketing is a fairly new domain and the role of ‘ProductMarketing Manager’ differs greatly from organization to organization. You may want to jump to a relevant section: Who’s a ProductMarketing Manager? ProductMarketing Manager’s Role and Responsibilities (depending on the company).
Adam: “Growth hacking” is a term you coined in 2010, but since then a lot of alternative definitions have sprung up. Sean: I came up with the phrase because I thought startups had no choice but to be super focused on growth. I thought startups had no choice but to be super focused on growth. Sean: Yes.
I have come to realize that people understand it very differently from the way I do (perhaps because they are not product experts?), and moreover, that the most common interpretation was not at all what I wanted to deal with, and definitely not where I believe (to date) most entrepreneurs need help. We are here to help you.
Photo by Oleg Magni from Pexels Educating the market has a bad reputation, and rightfully so. It’s nearly impossible to do, and even if you can do it, in most cases your startup won’t survive the time it would take in order to see its fruits. Each level requires a different marketing strategy.
at the product level, the solution level, or the problem level (that is, you are tackling a problem almost no-one else does). Each level requires a different marketing strategy. While the marketing strategy is typically not for you as a product leader to define, the unique value proposition definitely is.
I created a model called “The Product Circuit”, which I have since used in product strategy processes with dozens of companies and in my lectures when I explain the journey to product-market fit. If you have worked in an early-stage startup, you have most likely witnessed, participated in, or led this process.
Most product teams have at least a few additional people. And you may also have a few of these other folks: data analysts, user researchers, productmarketing, or customer success folks. Your product team might also include other folks like the ones included here. Let’s start with a definition.
I was surprised to see that even though that’s a crucial question that I contemplate a lot with, I couldn’t give a definitive answer right away. Last month, for example, I met a startup, which had a good indication from the market that their initial product direction was viable. “But let’s think even bigger.
Here is a new way to look at product management goals, and make them a useful tool for both you and your team. was the COO of a Series C startup. He was brought in as the startup entered hyper-growth and needed someone to help with all of that scaling. My free e-book “ Speed-Up the Journey to Product-Market Fit ”?—?an
He wrote the step-by-step guide for implementing Lean startup practices, titled Running Lean , created the Lean Canvas tool, and blogs regularly about these topics at www.leanstack.com. Now he has a new book about applying Lean Startup principles to go from new product concept to a product that is achieving predictable success with customers.
Strategic thinking is hard by definition. especially startups on their way to product-market fit, the ARR itself might not be important. This is part of the definition of strategy?—?it’s My free e-book “ Speed-Up the Journey to Product-Market Fit ”?—?an Here’s how to do that. I absolutely love it!
In Silicon Valley, we've become well-versed in the importance of finding product/market fit as the most important early pursuit for any new product or startup. Beyond product/market fit, it turns out business strategy really does matter.
Here is how a product strategy can help you create business results, even when the market is not in your favor. I sat with an entrepreneur who was helping me with market research for the work I do with startup founders and explained to him what I do. Product strategy is a special kind of strategy. It’s a plan.
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