Finest-5 Product reads #12
Why product pitches fail, Grow career as product and other product reads..
Happy Saturday,
Before I started this newsletter, I asked myself: how can I create value for people like me, who are curious and love products? I, being not much experienced in writing, relied on my strength of excessive reading and let my strength be the force to save time and make you slightly better at product.
Last week, I reached 100+ subscribers with an average open rate of 35%. The numbers may not be enormous, but it comforts me to know my efforts are serving. I will maintain and improve till people find value in this newsletter.
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Why product pitches fail
Product Managers deliver product pitches more often than we realize. From ideation to sales, we constantly pitch what we believe in. Though, delivering a product pitch that kills the room might not be that intuitive. Continue reading...
Key Takeaways:
Stacking lots of arguments is like a house of cards. Your shakiest argument becomes your weakest link.
Numbers make you act because it’s your job. Stories make you act as you care.
In resistance, the best way to sell change is to highlight what stays the same.
Grow Your Career Like You Grow A Product
One reason I love products is I believe we can see everything under the lens of a product. Here is a splendid example of your career as a product. Grow your career like you would grow your product, find similar clarity in ambiguity. Continue reading...
Key Takeaways:
Growth models drive our product decisions, then why do luck, intuitiveness and short-term targets drive our career.
Being clear on your career use case and value proposition will fuel your positioning, brand, and channel strategy.
You need to ‘productize’ your brand into a self-reinforcing loop in order to grow.
Anchoring Bias and Its Effects on Decision-Making
Anchoring is a cognitive bias most of us have heard about. Keep aside matured products, I still doubt if we actually understand it deep enough to adopt it in our products. It’s a very simple, yet powerful tool we have. Continue reading..
Key Takeaways:
Everything is relative, what information users encounter first, impact perception of what follows.
Listing the most expensive option first anchors people to the expensive plan, which makes other options more appealing in comparison.
Display Original and Discounted Prices Next to Each Other
Why We Need Go-to-Community, Not Just Go-to-Market
With low switching cost and too many competitors, Community becomes the new hot. Value creation through community is hard to measure, yet long-term high impact it can create is important enough to peruse Go-to-Community. Continue reading..
Key Takeaways:
The key difference between go-to-community and go-to-market is the focus on value creation vs. value capture.
Conception of community should not be limited to top of the funnel
Community conversations can help to understand the needs of user better
Pre-mortems: How Stripe prevents problems before launch
Pre-mortems are always perceived as good to have and hence, it is rarely sought in organizations. Even if we tried, it looked so complex to handle that in the end the outcome looked futile. What about, for your next product you take advice from Shreyas and own it? Continue reading..
Key Takeaways:
Ask the team to assume that the project has failed, and to come up with the reasons.
Convenient lexicon allows people to talk about things psychologically safely.
The timing of pre-mortem should give the team a window to respond to potential problems that are identified during the pre-mortem.
Product of the week: Y Combinator Co-founder Matching
Y Combinator launching a product for founders is buzz enough. And if that product turns out to be a co-founder dating that does potential matching based on interest and profile is just amazing. If nothing, read the testimonials and see the value this product creates.