Inside this interview, there’s an excellent explanation of what product management means in an enterprise. By “enterprise,” I mean a company who’s product is not technology. That is, most every company and organization out there. To that end, there’s a great example of doing product management and design at a food services company: discovering the actual problem to solve to meet business needs, and solving it by experimenting with a small batch loop.
See also the original show notes.
Some intersting history of how Facebook grew users. Of course, this the case study is for a free service, that focuses on a high volume of users. I.e.: not an enterprise sales business that charges $3m+ per user-cum-customers.
Contextualizing aside, there’s some good product thinking:
Better know what your product is good for:
Knowing true core product value allows you to design the experiments necessary so that you can really isolate cause and effect.
Getting people to realize your product is useful, understanding and the wanting the value-prop:
“Once you understand core product value you can create loops that expose that over and over again. You have to work backwards from ‘what is the thing that people are here to do?’ ‘What is the A-ha moment that they want?’ and giving that to them as fast as possible.”
The clock is ticking, the cash is burning:
“Startups only have so many opportunities to run an experiment in the product, and they’re also time bound by the cash they have in the bank. With that said you need to run experiments that matter.” “Experiments that count when you are using smaller samples have to be incredibly thoughtful.”
You’d think that would favor large organizations who have the scale of people, time, and money…if only they can switch over to this way of thinking.
Your best customer is one you already have:
Retention is the single most important thing for growth.” “Retention is the number one thing we focus on at Facebook. You can’t trick users into doing that.”