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Showing posts from July, 2014

2 most important principles behind successful startups

Over the last few years working for a couple of startups, I have learnt this important lesson -  For a startup to be successful, the following 2 principles are extremely important and in the same order as below: Focus Momentum These 2 principles are crucial, especially in the initial few years when you are trying to establish your foothold. Focus : I came across an interesting article this morning which reiterated my learnings. It talks about how Facebook in the initial years was relentlessly pursuing "growth" to be the key focus area, although many skeptics wondered how they would monetize or generate revenue eventually. I believe - "A startup should have a vision that is so big, that it inspires everyone around you. At the same time, it should have a focus that is so clearly defined, that it serves as a guiding light to everyone around you." Focus is even more important if you are entering a new product category. Yes, you will foresee multiple opportunities in di...

10 Best Practices of User Onboarding

One of the challenges I had faced as a product manager in an earlier job role was to ensure that my users are actively engaging with my product/app. When I looked at the numbers, I noticed there was a tremendous dropout after the first login. There wasn't any huge marketing budgets back then and so the users who were visiting our product/app were primarily organic. After a round of data analysis as well as talking to a few users, the conclusion was that the onboarding experience wasn't so great. We went back to the drawing board and redesigned the entire onboarding experience from the ground up. I have been reading up and researching quite a bit on the best practices of onboarding since then and I have distilled it down to the following 10 points: (1) Issues such as time constraints, short attention span and cognitive overload make it much more important to design a smooth and intuitive onboarding experience. In case of mobile apps, it is even more imperative, given the challen...

7 lessons I learnt from a B2B market segmentation exercise

The last month has been a good learning experience in understanding how to perform a B2B market segmentation and sizing exercise. Though I have read about the best practices and frameworks in my marketing courses, getting the hands-on experience is extremely valuable. The whole exercise took about a month and 3 presentations and culminated with identifying a prioritized list of market segments to go after. Academic inputs and theories did provide the required direction and focus since market sizing can be a daunting task without it. Here are the 7 lessons I learnt that I would want to reflect back whenever I take up a similar project in the future. Hope you find them useful too. 1) Start off with a framework or structure At the beginning of any market segmentation exercise, the definition of your market will be very broad. In order to identify your niche or specific target segments, you need a step-by-step approach to navigating the market space . The framework needn't be something...

The mystery of the snack box

D has been going to a play school for more than a year now. Since she wakes up quite late, she usually drinks a little milk or a tiny portion of her breakfast. I usually pack her breakfast for her mid-morning snack break and she has been eating without a fuss so far (touchwood!). I used to wonder what her friends/classmates bring in their snack boxes. When I ask D, she usually says "biscuits" or "grapes" :-) Early April, we enrolled D in a new school for a summer camp programme. Being a new school, I accompanied her for 3 days and sat next to her, to get her settled in the new place. During the 10:30 AM break, it was so cute to see all the tiny kids open their snack boxes and eat together. Snack breaks are a perfect time to bond and get to know each other. Yes, it applies to 3 year olds as well. I quickly glanced around to check out the various snacks that kids have brought along. Some of them were the usuals like parathas, cheese sandwiches and bread+jam. A 3 ...

2 principles behind successful products

I had the opportunity to attend a master class on Entrepreneurship couple of days back by Scott Cook , Founder of Intuit. It was fascinating to hear about his experiences of building Intuit in the 80s. He is an amazing speaker with perfect clarity of thoughts and words. He spoke about 2 principles of creating successful products. 1) Keep looking for insights from customers If you are building products just for yourself and for your friends/family, insights may not be that relevant. But in most of the cases, we build products for a larger community. The only way to learn is through deriving insights. Insights can be obtained using data gathered on product usage. But the most useful source of insights is "observation". During the session, Scott demonstrated the power of observation through an airplane making exercise. You tend to gather a lot more insights and surprise elements by observing how people use your product rather than asking/interviewing them about how the product e...