Henry Shi’s Post

The cost of building a digital product MVP has never been lower, and trust me, it will get even less expensive over time. If you’re building SaaS or an internal tool in 2024, and your goal is to maximize your chance of success, you have to squeeze in as many product iterations as possible until you reach a product-market fit. As simple as that: more tests = more answers from your early adopters = faster time-to-market What options do you have? You either have strong tech/business knowledge or need a consultant to help you determine whether you should go with custom software (like Elixir, Phoenix, and React Native in our case) or a no-code platform. The latter is where you really save money at this stage of development. Don’t get me wrong, not everything can be done with low code, and it may happen that you’ll reach a point where you’ll not be able to tweak your product exactly as you want due to limitations (the same goes for performance optimizations). But… I would lie if I said that in 2024, building digital products on top of a no-code platform is not a real option. Now, here is the tricky part. Depending on what you’re trying to build, the wrong choice may make or break your startup. Building MVP of Spotify in no code is not a good idea, and most probably, you will just burn cash. On the other hand, if your startup MVP is about tables and data - it can easily be done with no code. Before you start the development phase, you should first go through a product workshop. This is when you can determine what type of tech you need to build the MVP. Even though Curiosum specializes in custom software, we have no hesitation in advising you on the right tech solution for your problem, considering the budget. Book a free call here -> https://lnkd.in/d6zjPJ_p #nocode #customsoftware #mvp #prototyping

Tanguy Crusson has spent 10+ years at Atlassian, where he's taken several products from zero to one, including HipChat, Statuspage, and most recently, Jira Product Discovery. In this episode, we dive deep into the struggles and lessons of innovating and building new products inside a large company. Tanguy shares candid stories about what's worked, what hasn't, and everything he's learned about successfully building 0 to 1. We cover: 🔸 Why large companies with so many advantages still fail at creating new products 🔸 How to avoid common pitfalls like competitive myopia and premature scaling 🔸 Lessons learned from acquisitions 🔸 Lessons from competing with Slack 🔸 Insights from the success of Jira Product Discovery 🔸 Tactics for protecting your “ugly babies” 🔸 The power of “lighthouse users” 🔸 The importance of having a “why now” 🔸 So much more Listen now 👇 - YouTube: https://lnkd.in/gr9f4D45 - Spotify: https://lnkd.in/gmiuz944 - Apple: https://lnkd.in/gWGAc5ZX Some key takeaways: 1. “Don’t eat your own bullshit.” When launching new products within companies that have already seen some success, it’s easy to assume that your existing playbooks will work again. But what got you here won’t take you there. You need to define, test, and validate your assumptions, because they may very well be wrong—especially when targeting new customer segments. 2. Startups benefit from starving. Starving creates hunger, which drives people to solve problems with resourcefulness and urgency. When exploring new products in a big company with excessive resources, you need to create scarcity to emulate this startup starvation. This generally means operating as a small, scrappy, siloed team. 3. The most likely outcome when launching a new product is failure—even at big companies that appear to have many advantages. It’s important to ground new product launches in this reality so that you can deter the company from over-investing, which ultimately serves to reduce hunger, slow things down, and decrease the chances of success. After all, why invest heavily in something that’s most likely to fail anyway? 4. Success for new products should be measured differently from existing ones, both in terms of metrics and time horizons. In general, new products should be judged by whether the team is answering the right questions at the right pace and whether the team is still excited about the new bet’s potential. It’s a common mistake to judge new products by metrics that a big company is used to, like MAUs or revenue. However, if a team is optimizing for MAUs or revenue before they’ve worked to understand the problem, they will be working on the wrong things. 5. Atlassian uses a four-phase approach to launching new products and deciding whether to invest in them further: Wonder, Explore, Make, Impact

Unlocking the Power Sprints: Accelerating Your Business Growth. Sprints aren't just for athletes – they're a game-changer for startups looking to innovate, iterate, and grow at lightning speed. Here's how to harness the power of sprints like a seasoned pro: 1. Define Your Goal: Crystallise your objective before you hit the ground running. Whether it's launching a new product, refining your existing offering, or expanding your product range, clarity is critical. Take cues from Airbnb, who used sprints to revamp their user experience and propel their growth to new heights. 2. Assemble Your Dream Team: Surround yourself with a diverse mix of talent – designers, developers, marketers, you name it. Collaborate like crazy, drawing inspiration from Spotify, whose cross-functional squads drive innovation through relentless teamwork. 3. Embrace Rapid Prototyping: In the sprint world, it's all about getting your ideas out there – fast. Build prototypes, gather feedback, and iterate like there's no tomorrow. Just ask Slack, whose iterative approach transformed workplace communication as we know it. 4. Fail Fast, Learn Faster: Not every sprint will end in victory, and that's okay. Embrace failure as a stepping stone to success, learning and adapting with each iteration. Look to Dropbox, whose early setbacks paved the way for revolutionary cloud storage solutions. 5. Stay Agile and Adaptable: In today's fast-paced landscape, agility is non-negotiable. Keep your finger on the pulse, responding swiftly to market shifts and customer needs. Take a leaf out of Uber's playbook, constantly evolving its business model to stay ahead of the curve. So there you have it, folks – a crash course in sprinting like a startup superstar! Remember, the journey may be fast-paced, but the rewards are oh-so-worth it. #SprintToSuccess #InnovationNation #StartupStrategies

I'll candidly admit to something many of us grapple with: I'm somewhat self-conscious, prone to embarrassment, and deeply invested in the finer details. Despite my experience in building a few B2B companies in the FinTech SaaS arena, as well as my role as a mentor at university innovation centers, practicing what I preach presents its share of challenges. So, here's the unvarnished truth: our latest product, Left To Right (https://lefttoright.io), doesn't bear the badge of perfection. It lacks a burn-down chart, meticulously organized task lists, and still requires some image changes on the landing page. Additionally, the integration with Stripe is a work in progress. However, I am posting this – I must post this! – a decision fueled by my firm belief that 1) Jira's complexity can be burdensome, 2) Trello may not fully meet the needs of modern project management, and 3) it's time for me to step aside from my own reservations. Nevertheless, I've wholeheartedly committed to offering early access, free of charge, to a select group of teams. This will allow me to collaborate closely with them, iteratively enhance the product, and strive for perfection—an elusive pursuit that continually escapes us. This marks a departure from my comfort zone, as it's the first effort I've undertaken without raising capital, hiring an enterprise sales team, or building something when someone promised to be our first client. I extend a warm invitation to you: Try it out and share your candid feedback. Let me know what you don't like about it, what could be improved, and your thoughts on the user experience. The first two weeks are on the house, and the offer of free access extends to the first 10 teams ready to take it for a serious spin, with whom I plan to work directly. Thank you for embarking on this journey alongside me. Please feel free to try it out, and let me know what doesn't work. I am very much open to ideas, feedback, partnerships, design help, etc. Discover more at www.LeftToRight.io. Warm regards, John #pmp #trello #jira #scrum #productlaunch #csm (I am A/B Testing the hero images in this post)

🚀 Day 3/7: Unleash Product Development Power! 🧠 Invest 30 sec to supercharge your product game! 💥 🌟 Three Epic Frameworks Await You. Choose Wisely! 💼💡 Framework 1 🔬 Experimentation: The Spotify Way Squad Freedom: Spotify forms squads with total experimentation freedom. Do whatever makes sense. 🧭 Mission-Aligning: Each squad has a leader who aligns them on a mission, each driving distinct product aspects. 🚀 Their model is simple but powerful—Think it, Build it, Ship it, Tweak it. Framework 2 🎯 Start with the End: Amazon's Approach 📝 Amazon doesn't begin with a product; they start with an internal press release. 🗞️ This press release captures the reactions the finished product would generate. ✅ If the team can't create a compelling press release, it signals potential issues with the product's success and development path. 🚀 This approach ensures they work towards desired outcomes. Framework 3 Growth: Used by Shopify 🚀 Stage your company: Are you trying to find product/market fit? Are you trying to launch an MVP? Whatever it is, define it. 🎯 Define strategic goals: Articulate your product's growth objectives. 🔍 Model the funnel: Map the user journey and identify areas for improvement. 🌟 Set your north star metric: Measure progress toward your goals. 📊 Create a prioritization grid: Collect input from the team to prioritize features. 🎯 Set targets: Establish milestones for short-term progress. 🛠️ Focus on execution: Streamline the product development process. 👥 Build a multidisciplinary team: Assemble a versatile team covering key skills. 🔄 Use this framework for repeatable product growth. Adapt it to your company's needs for success. 🌟📈 #ProductDevelopment #InnovationJourney ⏳🚀 #amazon #spotify #shopify

I'll candidly admit to something many of us grapple with: I'm somewhat self-conscious, prone to embarrassment, and deeply invested in the finer details. Despite my experience in building a few B2B companies in the FinTech SaaS arena, as well as my role as a mentor at university innovation centers, practicing what I preach presents its share of challenges. So, here's the unvarnished truth: our latest product, Left To Right (https://lefttoright.io), doesn't bear the badge of perfection. It lacks a burn-down chart, meticulously organized task lists, and still requires some image changes on the landing page. Additionally, the integration with Stripe is a work in progress. However, I am posting this – I must post this! – a decision fueled by my firm belief that 1) Jira's complexity can be burdensome, 2) Trello may not fully meet the needs of modern project management, and 3) it's time for me to step aside from my own reservations. Nevertheless, I've wholeheartedly committed to offering early access, free of charge, to a select group of teams. This will allow me to collaborate closely with them, iteratively enhance the product, and strive for perfection—an elusive pursuit that continually escapes us. This marks a departure from my comfort zone, as it's the first effort I've undertaken without raising capital, hiring an enterprise sales team, or building something when someone promised to be our first client. I extend a warm invitation to you: Try it out and share your candid feedback. Let me know what you don't like about it, what could be improved, and your thoughts on the user experience. The first two weeks are on the house, and the offer of free access extends to the first 10 teams ready to take it for a serious spin, with whom I plan to work directly. Thank you for embarking on this journey alongside me. Please feel free to try it out, and let me know what doesn't work. I am very much open to ideas, feedback, partnerships, design help, etc. Discover more at www.LeftToRight.io. Warm regards, John #pmp #trello #jira #scrum #productlaunch #csm (I am A/B Testing the hero images in this post)

Willingness to Pay the hidden element of perfect #ProductMarketFit Uber took 14 years to achieve profitability. You have 3-18 months to accomplish it. The product itself functions well and delivers its intended value. You need to capture some of this value and build a sustainable business. For bootstrapped businesses, it's crucial to test Product-Market Fit and Willingness to Pay simultaneously. A business that isn't generating revenue is merely a hobby. ❌ Some business models (like social media, media, marketplaces, games, and product-led companies) focus on gaining adoption first. In these cases, you need scale and network effects before monetization, known as the cold start problem. ✅ In most scenarios, you can start pre-selling before the product is fully developed and prioritize profitability from the outset to validate your business model. In the next few posts, we will delve into pricing, understanding willingness to pay, and different business models. Let's make it rain! 💰

🚀 I'm super excited to be talking @mindtheproduct this Friday in London ! (Its almost 10 years since the last time they asked me to do this 🙏) My talk is entitled "10 years Wiser" and reflects on almost a decade of scaling Wise 8 years back when i presented last at Mind the Product https://lnkd.in/eARv5_3V I was passionate about sharing the lessons we'd learned on I) Scaling Wise through Word of Mouth ii) The speed and agility we enjoyed through running in autonomous independent teams Now almost a decade later - I'll be sharing lessons on: i) Does Word of Mouth scale when you have acquired 16m+ customers ? (IT DOES) ii) Do autonomous teams scale to 5,000 + people ? (THEY DON"T) Find the answers to these questions + more here last chance tickets - (incl. digital) - here https://lnkd.in/e-FkGuAJ (Note the vid below is an old one - will post the update after Friday) cc Emily Tate Martin Eriksson

"Velocity over everything: How Ramp became the fastest-growing SaaS startup of all time | with Geoff Charles (VP of Product)" <- how the Ramp team operates and executes. Lots of great takeaways for product leaders, but super- relevant for every other type of leader as well, myself included! Thank you for hosting this, Lenny Rachitsky. Enjoyed listening to this convo on a sunny Sunday afternoon. Founded in 2019, Ramp is the fastest growing SaaS biz -> $100M in revenue in their first two years, adding 1,000 users per week to the platform! • Velocity over everything- and velocity happens thru IC empowerment. Leader debates and aligns with team on a goal -> hypothesis -> supporting data. The solution comes last... teams/ ICs own the solutions • Work in small teams that have lofty goals- shielded from distraction + chaos • Leaders are chief "repeaters"- giving context and coaching. ICs should highlight risks in a feedback loop... empowered to reassess solutions/ iterate • Teams can achieve velocity without burnout by enjoying the momentum of moving things forward. Culturally, be excited about building cool s**t! 🤩 * It is also fun that we're Ramp customers ourselves at Chameleon :) https://lnkd.in/ekAuMMrz

Do you know that without an MVP you risk losing $50,000 creating the wrong product? That’s what the SaaS startup Groove went through. Lowering risks, saving money, time, and resources are the key reasons why you cannot ignore MVP development. Uber, Zappos, Facebook, Spotify, Instagram, Snapchat, Airbnb, Dropbox were developed as MVPs first. Follow to learn about common mistakes in MVP development and see real-life best practices. #mvpdevelopment #startupwisdom #techsuccess #strategisthub