Building Great Products #ProductHuntTO
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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.
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Building Great Products #ProductHuntTO
- 1. Building Great Products Ben Yoskovitz! @byosko! byosko@gmail.com #ProductHuntTO
- 2. More wins than losses 1996 1998 2001 2006 2007 2010 2011 1st startup Big pivot The “I got too comfy” years Started blogging Standout Jobs Failed Year One Labs GoInstant $0 2012 2014 Salesforce VarageSale
- 3. http://leananalyticsbook.com • San Francisco • Omaha • Barcelona • London • Amsterdam • Memphis • Vancouver • Las Vegas • and more...
- 4. 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
- 5. So let’s talk about Product Hunt…
- 6. I was an early adopter (#20) • Get to the point! • FOMO! • Ask specific questions • Network early! • Appeal to egos! • Create value for others
- 7. ✓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?
- 8. Product Hunt = SF? https://www.flickr.com/photos/hubertyu/14102205739/
- 9. 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)
- 10. Dash Hudson Product Hunt Case Study • ~1,000 visitors on day 1! ! • ~2% conversion! ! • “Bit of buzz, mostly inside the echo chamber”
- 11. https://www.flickr.com/photos/lisacee/5420415856/ A few thoughts on building great products
- 12. Do things in order Lean Analytics Stages “Gates” needed to move forward Empathy Stickiness Virality Revenue Scale GrowthRate 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.
- 13. Do things in order Lean Analytics Stages “Gates” needed to move forward Empathy Stickiness Virality Revenue Scale GrowthRate 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
- 14. Do things in order Lean Analytics Stages “Gates” needed to move forward Empathy Stickiness Virality Revenue Scale GrowthRate 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
- 15. https://www.flickr.com/photos/infomastern/14519782386 Small cycles of behaviour • A—>B—>C • Reward & Delight users • Addictive
- 16. Understand your best users • Identify your “good” users • What makes them special? • Find more “good” users
- 17. https://www.flickr.com/photos/tiarescott/69821764/in/ Never stop talking to users • Quantitative Data = What • Qualitative Data = Why
- 18. Be deliberate • The “One feature away” lie • Iterate and test, but don’t panic https://www.flickr.com/photos/pallotron/2206080648/
- 20. Thank you! • Ben Yoskovitz • @byosko • byosko@gmail.com • http://instigatorblog.com • http://leananalyticsbook.com