building great products #producthuntto
DESCRIPTION
Quick presentation at #ProductHuntTO about building great products and a bit on Product Hunt itself. Includes a bit about Lean Analytics, investing, product management and more.TRANSCRIPT
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More wins than losses
1996 1998 2001 2006 2007 2010 2011
1st startupBig pivot
The “I got too comfy” years
Started bloggingStandout Jobs
Failed
Year One LabsGoInstant
$0
2012 2014
Salesforce
VarageSale
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http://leananalyticsbook.com
• San Francisco • Omaha • Barcelona • London • Amsterdam • Memphis • Vancouver • Las Vegas • and more...
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The fun way to buy and sell in a trusted local community
• Fast growing • 40+ people • Making a difference • Hiring actively
http://varagesale.com/work_with_us
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So let’s talk about Product Hunt…
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I was an early adopter (#20)
• Get to the point!• FOMO!• Ask specific questions
• Network early!• Appeal to egos!• Create value for others
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✓Found the right early adopters !
✓Had a clear & narrow value proposition !
✓Found a real need (solved a real problem) !
✓Built an MVP — but delivered on the value promised
What did Product Hunt do well?
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Product Hunt = SF?
https://www.flickr.com/photos/hubertyu/14102205739/
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How to use Product Hunt
• Product Hunt is not a launch strategy !• Don’t spam !• Don’t randomly ask people to submit for you !• Engage as a founder — get into the comments !• There’s a long tail of votes (but don’t know if
it drives value)
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Dash Hudson Product Hunt Case Study
• ~1,000 visitors on day 1!!• ~2% conversion!!• “Bit of buzz, mostly inside
the echo chamber”
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https://www.flickr.com/photos/lisacee/5420415856/
A few thoughts on building great
products
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Do things in order
Lean Analytics Stages “Gates” needed to move forward
Empathy
Stickiness
Virality
Revenue
Scale
Gro
wth
Rat
e
You’ve found a real, poorly-met need that a reachable market faces.
You’ve figured out how to solve the problem in a way they will adopt, keep using and pay for.
The users and features fuel growth organically and artificially.
You’ve found a sustainable, scalable business with the right margins in a healthy ecosystem.
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Do things in order
Lean Analytics Stages “Gates” needed to move forward
Empathy
Stickiness
Virality
Revenue
Scale
Gro
wth
Rat
e
You’ve found a real, poorly-met need that a reachable market faces.
You’ve figured out how to solve the problem in a way they will adopt, keep using and pay for.
The users and features fuel growth organically and artificially.
You’ve found a sustainable, scalable business with the right margins in a healthy ecosystem.
Most startups fail here
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Do things in order
Lean Analytics Stages “Gates” needed to move forward
Empathy
Stickiness
Virality
Revenue
Scale
Gro
wth
Rat
e
You’ve found a real, poorly-met need that a reachable market faces.
You’ve figured out how to solve the problem in a way they will adopt, keep using and pay for.
The users and features fuel growth organically and artificially.
You’ve found a sustainable, scalable business with the right margins in a healthy ecosystem.
Most people don’t really do this
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https://www.flickr.com/photos/infomastern/14519782386
Small cycles of behaviour
• A—>B—>C • Reward & Delight users • Addictive
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Understand your best users
• Identify your “good” users • What makes them special? • Find more “good” users
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https://www.flickr.com/photos/tiarescott/69821764/in/
Never stop talking to users
• Quantitative Data = What • Qualitative Data = Why
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Be deliberate
• The “One feature away” lie • Iterate and test, but don’t
panic
https://www.flickr.com/photos/pallotron/2206080648/
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Resourceshttp://www.instigatorblog.com/tiny-addictive-new-behaviors/2013/07/02/ !http://www.amazon.com/Hooked-Guide-Building-Habit-Forming-Products/dp/1494277530 !http://www.instigatorblog.com/tiny-addictive-new-behaviors/2013/07/02/ !http://www.instigatorblog.com/your-best-users/2014/06/20/ !https://medium.com/@noah_weiss/50-articles-and-books-that-will-make-you-a-great-product-manager-aad5babee2f7 !http://www.defmacro.org/2013/09/26/products.html !https://blog.bufferapp.com/people-dont-buy-products-they-buy-better-versions-of-themselves
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Thank you!
• Ben Yoskovitz • @byosko • [email protected] • http://instigatorblog.com • http://leananalyticsbook.com