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I have been asked a lot of times on how to benefit from the FG scheme of offering farm inputs support to farmers, watch this video as the National Project Coordinator of the NAGS-AP, Mr. Ishaqa Ardo Buba explains…
If you are a farmer, this is crucial, please watch.
NVIDIA is getting crazier.
They just dropped a tiny AI supercomputer, built for robotics and LLMs, capable of 70 trillion operations per second.
For $249.
Game over.
.@Nubank is larger than Coinbase, Robinhood, Affirm, and SoFi combined, has more customers than Bank of America (while only operating in three countries in Latin America), and 80% to 90% of its growth comes through word of mouth because of the way they make customers fanatical about their product.
Jag Duggal is chief product officer at Nubank, and in our conversation, we dig into:
🔸 How Nubank creates fanatical users
🔸 Measuring PMF through the Sean Ellis score
🔸 Tactics for driving word-of-mouth growth
🔸 The role of category design in creating successful products
🔸 Why companies should strive to be “fundamentally different,” not “incrementally better”
🔸 Much more
Listen now 👇
- YouTube: https://t.co/tuqaey6gQ5
- Spotify: https://t.co/5oNgUy3zrC
- Apple: https://t.co/zaW6f1y2HF
Some key takeaways:
1. The “Sean Ellis score” is a key element of how Nubank measures product-market fit and makes decisions about investing in new products. The score is based on asking customers, “How disappointed would you be if this product went away?” The answer options are:
a. Very disappointed
b. Somewhat disappointed
c. Not disappointed
d. I no longer use this product
2. A few of your strongest customers can teach you more than many of your weaker ones. Your strongest customers are generally your most engaged users, deriving the most value from your product. If you use the Sean Ellis question, your strongest customers will be those with the highest scores. Try to learn: what characteristics make them a better fit for your product? What can they teach you about the value of your product?
3. The best user research technique is often to just pick up the phone and call 10 customers. You don’t need a research plan, a research lead, someone to summarize results, etc. Those things just add distance between you and the customer and overhead that slows research down. If you have a direct line to the customer instead, you’ll often find that it only takes five conversations before you gain strong, reliable insights.
4. Your strategy doesn’t have to be “right,” but it does have to be clear. A clear strategy allows you to identify when things are off course, because it defines “what was supposed to be happening.” Aspirations or vague statements like “to re-invent banking” are not clear strategies. Clear strategies are detailed plans centered on specific problems, solutions, customers, and strengths.
5. Jag lives and breathes the motto “We’re in the business of being fundamentally different, not incrementally better.” In competitive markets, merely improving incrementally on existing solutions isn’t enough. Strive to be fundamentally different by reinventing or creating new categories. This approach not only sets you apart from competitors but can also redefine the industry standards.
6. To develop products that truly resonate with users, start by identifying deeply held pain points. This can be achieved through meticulous customer research, or asking indirect questions to uncover genuine needs and frustrations. The goal is to develop a solution that addresses these issues so effectively that customers become enthusiastic advocates.
7. Before diving into research, articulate a clear hypothesis. This gives direction to your research efforts and helps you interpret the data you gather effectively. Don’t become overly attached to your hypothesis. Be willing to assess whether it’s right or wrong based on the evidence you gather, rather than trying to defend it at all costs.
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A strategist is an artist that uses theories to craft possible outcomes for the future of a business.
These outcomes will make the business have advantageous outcomes over its competitors. Are you number 1 or 2 in YOUR market? If Not, exit gracefully
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