Finest-5 Product reads #36
Ordinary designs, valuable products, etc.
Hey,
So, before we get into the reads this week, here is a book review for KPI checklist. A must read for anyone in the product. If nothing, this will help you revise the concepts.
Every week, I summarise the best reads from 100+ articles with the sole purpose of helping you become better at product with minimal effort. Subscribe!!
Why ordinary design (almost) always wins
We align ordinary designs with simple and boring designs. But the question to ask is ‘is boring equals bad’? A lot of designs are simple designs with minor tweaks. A major move from simple design has its own challenges.
Key Takeaways:
We try to avoid ordinary design as hard as possible because we want to innovate and create something cool and trendy.
When people see Mitsuoka Orochi, some people love it, while others hate it. But when people see Toyota Corolla, most feel indifferent towards it.
But why are people so tolerant of ordinary design? Because ordinary design is both easy to the eyes and feels instantly familiar.
If It’s Not Valuable, Why Do it?
We as PM believe we are building for users. But, as we get a little deep, almost everyone gets trapped in output over outcome and starts building features that ultimately fail.
Key Takeaways:
Most companies waste a lot of time, money, and resources on initiatives that do not deliver any value.
Shift to outcomes, requires product management to add value in at least two areas: impact to the Market and advantage to the Company
The Value Creation matrix is a great place to start when you are prioritising initiatives, potentially to do a little more discovery, before wasting time and money pursuing them.
How 🖥️Yahoo! lost the internet [Lessons in Bad Strategy]
Everyone knows about the demise of Yahoo: How once a company that could have been on top for the next 50 years lost its past just to be everything for everyone.
Key Takeaways:
Bad Strategy is long (too much of) on goals, but short (too less of) on [identifying problem], policy and action.
Yahoo! acquired three other companies, and all of them failed. It is about being short (too less of) on identifying problems and forming policy/actions to address them.
Do you see the difference between Google’s clear strategy vs Yahoo!’s all over the place strategy? Look at the Yahoo! website today. It is still all over the place. Does anyone even click on ‘Tech tips’ in 2022?
How to Use Customer Feedback for Product Growth
There is enough said on the internet about customer feedback. However, understanding how it ties up with your product's success is important.
Key Takeaways:
Implementing customer feedback requires planning and strategizing to build a robust cycle so you can continuously turn data into insights
Always listen to the customers before, during, and after the product development to drive new ideas and innovation.
If you are only prioritising the product-related issues, you are missing out on all other valuable information. You may offer the best product in the market, but if your services do not match customers’ expectations, they may move to the competition.
SaaS Growth Strategy - Step-by-Step Worksheet [FREE]
SaaS growth is something many people today are obsessed with. Some credit goes to the belief that SaaS is the only thing that works in this economic downturn.
Key Takeaway:
SaaS Growth = Acquisition Rate x Average Customer Lifetime Value
3 core elements SaaS Strategy: Market strategy, Product strategy, Go-to-market strategy
Setting ambitious goals, measuring performance, and iterating your growth strategy is the way to go.
Product of the week: mutiny
Personalise any website without code