A platform is a plug-and-play business model that allows multiple participants (producers and consumers) to connect to it, interact with each other and create value.
Empower co-creation by users and extentions by developers
The Core Value Unit
set of actions that producers and consumers engage in repeatedly to derive value.
All actions in the core interaction fall into one of the buckets: Creation, Consumption, Curation, Creation: producer who creates value, Consumption: consumer, who consumes value, Curation: To encourage good quality and quantity of value creation, as well as to ensure the right consumers consume it, you need some form of curation., You need all three actions: Creation, Curation and Consumption to repeatedly occur for the platform to work properly.
The success of a platform strategy is determined by three factors:, Connection: how easily others can plug into the platform to share and transact, Gravity: how well the platform attracts participants, both producers and consumers, Flow: how well the platform fosters the exchange and co-creation of value
Four Layers of a Platform, The Toolbox, The Matchmaker, The Magnet, The Monetizer
Iterate from Plan A to a Plan That Works (Ash Maurya)
Kanban is a set of principles and practices to visualize work flow to learn and improve
Principles, Start with what you do now, Agree to pursue evolutionary change, Initially, respect roles, responsabilities, job titles and processes, Encourage leadership at all levels in the Organisation
Practices, Visualize, Limit Work in Progress (WIP), Manage flow, Make policies explicit, Implement Feedback Loops, Improve collaboratively, evolve experimentally
Scrum is a management framework for incremental product development using one or more cross-functional, self-organizing teams.
Lean UX is a method to develop more desirable products, based on the three foundations: Design Thinking, Lean Startup and Agile Software Development.
Lean Startup, Build, Measure, Learn, MVP Minimal Viable Product, Customer Development, Pivot
Agile Manifesto, Individuals and interactions over processes and tools, Working software over comprehensive documentation, Customer collaboration over contract negotiation, Responding to change over following a plan
The Design Sprint is a five-day process for answering critical business questions through design, prototyping, and testing ideas with customers. Developed at Google Ventures.
Strong opinions about market opportunities and ways to capitalize on them are core to the success of any business. Your corporate leaders are abdicating their responsibilities if they’re iterating their way to corporate vision. This is not the fault of a specific methodology or process. It’s just bad leadership. (Jeff Gothelf)
The idea is, finding a leading indicator of a user who would turn into an engaged user later on. The growth team would then focus on optimizing for that metric.
Successful Example Metrics, Facebook, Dropbox, Twitter, LinkedIn
The 3 P's of getting Visitors, Pull them in, Push them in, Product
An activation happens when they have taken an action, large or small, that creates a relationship with you. Activation tactics: 1. Landing pages - limited navigation (you can hide certain menus and other parts of the website that would distract the user from what you want them to do) - single call to action - congruous language (since you know the user's source you can speak their language)2. Copywriting3. Calls to action4. Onboarding5. Gamification - progress - awards - leaderboards6. Pricing strategies - price discrimination: create a pricing structure that charges based on the consumer's purchasing power - multiple tiers - suggestive tier naming - free trials - discount codes - bundling (with other products)
A user is someone who, as the name implies, uses your product regularly. Retention tactics: 1. Staged traffic (don't spend all your budget on getting visitors, but spend time to analyse data before spending more on this) 2. Speed to AHA - find out what your AHA moment is - get the users to the AHA moment as soon as possible - eg: Facebook's 10 friends, Twitter's minimum number of followers; these are now built in their onboarding process 3. Don't fear email - drip campaigns - event based notifications - general updates 4. Alerts and notifications 5. Exit interviews - ask users why they cancelled or why they stopped using the product (just ask them what sucks the most) - don't use surveys, people have already decided to leave; instead, ask just one question and they might bother to send a very quick reply 6. The red carpet for your best customers - t-shirts - keep a twitter list of your best users and retweet to them often - give your VIP users access to exclusive content 7. Increase value - add features - subtract features 8. Community building - customer support - documentation - social features 9. Make them happy
Define your golden circle concisely in as few words as possible
What is your purpose?
You're not looking to do business with people who need what you do. Instead you're looking to do business with people who believe what you believe!
Spend sufficient time to craft the perfect words for your mission/vision. This document will serve as your internal compass or guiding north star and will be communicated from top down and internally to externally
What is your differentiation?
What is your value proposition?
What need do you solve?
What is your product and Service?
If your actions inspire others to dream more, learn more, do more and become more, you are a leader. - John Quincy Adams
It's like parenting
is choice, not a rank