TLDR Product Management 2024-02-20

The paradoxes of data ๐Ÿ”ข, design accountability ๐ŸŽจ, building a product and growth team ๐Ÿค

News & Trends

The looking glass: the paradoxes of data (8 minute read)

This article explores the crucial role of data in product development, focusing on its relationship with design, the misconception that data guarantees certainty, and recommended practices for being effectively data-informed.

Subprime intelligence (15 minute read)

Last week, Sam Altman introduced OpenAI's "Sora," a text-to-video AI model akin to DALL-E that generates videos from text inputs. Despite the initial hype, the videos it makes contain flaws. This raises concerns about the limitations of generative AI models, which show a lack of full understanding and can produce inaccurate or bizarre results, and questions about their practical utility and economic viability, especially in light of significant investments from tech giants like Microsoft, Google, and Amazon.
Opinions & Tutorials

What is design accountable for in a product company? (13 minute read)

Defining and measuring design quality within organizations can be challenging. The absence of a clear concept is a barrier to effective design accountability. This article proposes a framework that links design quality to business goals. It is important to align design efforts with user value and organizational objectives.

B2B product-led growth non-negotiable: TEAM network effects (10 minute read)

The key to healthy B2B growth lies in recognizing the potential of team network effects. Adding team members exponentially increases the value for the whole group. Manufactured habit loops can be used to establish and strengthen these network effects.

Influence through connection (6 minute read)

The most effective influencing technique is to establish a connection. Rather than dictating what is correct, guide individuals to discover answers themselves and make them feel appreciated.
Resources & Tools

How to track retention (3 minute read)

Key metrics for B2C businesses focusing on retention include revenue from repeat customers, percentage of repeat customers, customer churn rate, customer lifetime value (CLV), retention cohort analysis, and retention cost vs. ROI. These indicators help track loyalty, identify churn, evaluate long-term customer value, understand behavior patterns over time, and assess the financial efficiency of retention strategies.

How do you build a product and growth team (10 minute read)

It is important to integrate business casing, data analysis, and go-to-market planning skills within a product team. Businesses should shift towards more collaborative and self-sufficient team models that make teams directly accountable for their impact on business outcomes. This approach addresses common organizational challenges and enables teams to drive meaningful progress without relying heavily on external support.

How to make better decisions: the product managerโ€™s heuristics toolkit (3 minute read)

These six heuristics can help product managers improve decision-making: Picassoโ€™s Bull Principle, The Happiness Test, The Naive Untangle Test, The CEO Test, The Mom Test, and The Only-Option Test. They help PMs navigate decision paralysis, evaluate solutions, and ensure robust and user-focused product development.

Transition and reflection (3 minute read)

There are five critical areas of importance in 2024: transcending the system vs. individual divide, fostering self-awareness and understanding others, seeking coherence across multiple frames, recognizing and enhancing capabilities, and emphasizing the importance of action coupled with reflection as a means of progress. These areas underscore the interconnectedness of human behavior, belief systems, organizational dynamics, and the need for holistic approaches to drive meaningful change and improvement in the workplace.

Encouraging flow state in products (3 minute video)

Flow state is a state of deep focus achieved through an optimal balance of challenge and skill. Clear goal communication, immediate feedback, and providing users with various options can encourage flow. Flow can also be improved through using post-task questionnaires, gathering insights from domain-specific users, and accommodating different levels of expertise.
Quick Links

AARRR Pirate Metrics Framework (2 minute read)

AARRR stands for Acquisition, Activation, Retention, Referral, and Revenue - the five crucial stages of the user journey. This framework assists businesses in identifying key areas for growth and optimization.

Go-to metric for AI products (1 minute read)

"Time-to-value" is a pivotal metric for AI products - shortening this duration is a measure of an AI project's success.

A prime example of a KPI tree (1 minute read)

KPIs can be broken down into an overall goal, non-metric components of the overall goal, concrete metrics to measure, and specific ideas to influence metrics.
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