Amar Goel’s Post

How to Start and Grow a High-Earning Product Business

How focused are you on your customer when discussing a new product feature? Here are three pitfalls to avoid on your path to refining your product development model: https://lnkd.in/gVtdybQ3

Avoid the tendency to pursue too many product ideas at once. Instead, maintain a clear product vision and strategy, keeping it as your gold star. https://bit.ly/3q9bfcW #productmanagement

Most strategic product decisions can map into themes of cost, quality, or speed. But it’s important to remember this little adage of “you can only have 2 of the 3.” • if you want it good and fast, it won’t be cheap • if you want it fast and cheap, it won’t be good • if you want it cheap and good, it won’t be fast

The PMF Cycle by Maja Voje 👇 "Most companies take 5-7 spins of the Product-Market Fit (PMF) cycle to capture early signals of PMF. This usually takes them 6-12 months. For this reason, PMF is a dynamic concept not some ‘set it and forget it’ exercise. Brian Balfour’s definition of PMF which includes four elements: PRODUCT: The product must solve a real problem and provide value to the customer. CUSTOMER: Your solution must meet the needs of the specific people or businesses you’re targeting. SEGMENT: Focus on a defined group with shared characteristics who benefit most from your product. Think of your early customers first. BUSINESS MODEL: Ensure a profitable and sustainable way to deliver and monetize the product. A user is not necessarily a customer. To capture the early signals of PMF, test any of these elements. Before changing the product, try different segments and business models. The faster your PMF cycles, the more likely you will get traction. Founders and PMs, share your experience!  What did you most often change in your PMF cycles?" -- 👋P.S. Make sure you give Maja a follow!

The next problem you need to solve is how to deliver your product at scale. $8 billion a year. $50 billion a year. That's what.

The simpliest way to mange product cost is by increasing iteration speed via small batches.

Incline of product quality through the whole life cycle.

Product Discovery Explained! Full video on 'Introduction to Product Discovery': https://lnkd.in/gUYzS357

The 10 principles of product discovery https://buff.ly/41aCCWE