Contrarian pitch:
Stop tracking 50 metrics. Your product dashboard needs 3 ๐ North Star, Retention, and Acquisition. That's it.
The "who cares" pitch:
If a metric doesn't lead to an action, it's noise. Eliminate noise from your PM dashboard.
The best Product Creators and PMs build a value engine. They avoid their success attributes having a catastrophic opposite.
> saves time ๐ poor Usability/UX
> makes money ๐ high Customer Acquisition Cost
> reduces anxiety ๐ security vulnerabilities
> self-actualization ๐ feature factory mentality
Today's focus: start building a value engine.
It's a challenging journey. The brutal reality of product failure:
(1st) Lack of PMF ๐ solving a Non-Problem or shallow utility (impacts 42% of Startups)
(2nd) Financial ๐ running out of runway, or unsustainable Pricing, or high CAC
(3rd) Product/UX ๐ poor usability, or poor performance, or high technical debt
There's a lot for Product Creators and PM's to overcome and get right.
If you're busy with product marketing, Bain & Company identified "30 Elements of Value" to help companies gain an edge.
Their research found that high scores on 4 or more of the 30 Elements of Value had 3x greater customer advocacy than those with only 1 high score. In summary, success is about delivering stacked, compounding value across multiple dimensions: functional, emotional, and life-changing.
For Product Creators and PM's, can data driven decision-making also be a curse?
Contrarian view: over-relying on data and research to the point of delaying essential decisions, or slowing a launch, can significantly reduce success.
Where product emphasis is on the speed of shipping, here's a less popular opinion:
> launching with critical bugs or performance issues can immediately destroy user trust and retention.
The value of a solid UX shouldn't be lost vs. the value of early market participation. Given that perfection is the enemy of progress, a reasonable trade-off between these is probably the North Star.
Contrarian thinking for SaaS owners and PM's:
> Ignore Incremental A/B Tests. Focus development cycles on big, hypothesis-driven product bets instead of optimizing marginal gains; and
> Price high from the start. Charge a premium that signals quality, attracts serious users, and provides the budget for better development.
We actioned these strats in a previous business. It gained us rapid attention from enterprise customers, but we struggled to maintain the momentum. Today's quicker build and ship makes it more viable.
The PM road less taken, but the payoff can be big:
> Stop asking customers what they want. Watch what they do and infer the latent need they can't articulate; and
> if the value is astronomical, ignore the high effort/cost. The 10x payoff justifies the pain.
@iamlukethedev ๐ Luke. Giving each customer and internal team their own dashboard (unique URL) for updates, insights, and statuses without clutter - made our lives easier, and theirs 24/7 convenient.
X is the Early Adopter Hub! ๐
According to research, users on X are 32% more likely to be the first to try a new product. This explains why we see so many targeting their launches here! ๐
Some quick industry insights for the Monday think-tanks:
> Gartner confirms that by 2028, an estimated 15% of day-to-day work decisions will be made autonomously through agentic AI ๐ That feels a little underwhelming, perhaps big business is still slower on the uptake.
> Google suggests investing 70% of effort in core stability, 20% in adjacent growth, and leaving 10% for transformative innovations. For those shipping MicroSaaS fast, these indicators could almost be in reverse.
@scottastevenson That's why Notion has a template store.
The real value isn't just the software, it's also how something out-of-the-box can help shape your internal processes, improve data driven decision-making (viz. ideal workflows / views); and support work consistency.
@anothercohen One big customer isn't PMF, it's a risk.
Paying a $500k invoice?
Why consider Series A? If you can afford this invoice, either shape the business to exit within 2 years, or have 100% autonomy regarding the company's future.
(a potential) Unicorn isn't for everyone.
@RandallKanna Cybersecurity needs as much visibility! AI is making it more challenging by enhancing the speed, scale, and sophistication of attacks. Traditional defenses can be outpaced. Albeit AI is also used for defense, the barrier for creating complex and targeted cyberattacks is lower.
Product Management is stressful. But it's a passion.
No two days are the same, and there's a great mix of analytical tasks, soft skills and deep work. It's intellectually stimulating, requiring constant learning and problem-solving.
What's not to love?