Learn more about strategy with this collection
Essential product management skills
How to work effectively with cross-functional teams
How to identify and prioritize customer needs
Metrics are not a replacement for Strategy
Your metrics are a reflection of your strategy. They help answer, is the strategy working? Metrics without strategy is like looking at a bunch of random numbers.
You need to define the strategy before you define your metrics. What are the key hypotheses of the strategy? What metrics would indicate those hypotheses are true?
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139 reads
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Definition Is More Important Than A Dashboard 📊
Most people focus on "building a dashboard." But what is 10X more important is choosing which metrics are important and defining those metrics well.
Defining is more complicated than people think. For example, there are many ways to define a retention metric depending on y...
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88 reads
Outputs vs Inputs ℹ️
Most metrics like a retention metric or revenue metric are output metrics. These are metrics you should should monitor.
Giving output metrics to teams as goals can be dangerous. They need to know how to break them down into input metrics to make them actio...
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67 reads
Usage First not Revenue First
This is the most common version of outputs vs inputs. Usage creates revenue, revenue does not create usage. As a result the most important metrics in terms of creating growth are not your revenue metrics, they are your usage metrics.
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95 reads
Retention ≠ Engagement 😕
Lots of teams think retention and engagement are the same things. They are not:
- Retention is binary. It answers the question, was this person active within my defined time period? Yes or no.
- Engagement is depth. It answers the question, how a...
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104 reads
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Life-long learner. Passionate about leadership, entrepreneurship, philosophy, Buddhism & SF. Founder @deepstash.
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A good exit strategy
- Keep it short. An exit strategy should describe what to do next, not define what to do with the rest of your life.
- Keep it specific. Your exit strategy should help you to figure out the plan after your plan.
- Plan it early....
Strategy And Tactics Are Complementary
Strategy is the overarching plan or set of goals. Tactics are the specific actions or steps you undertake to accomplish your strategy.
A personal strategy might be to get into a particular career, whereas your tactics might include choosing your educational path, seeki...
2. Develop a strategy
The second step in the Ultimate Success Formula is to develop a strategy that will move you towards your outcome. Again, the more specific your goal is, the easier it is to develop an appropriate strategy.
You can have all the drive and energy, but without the right strategy, you will never...
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