#product #business #business # [[Epistemic status]] #shower-thought # TODO [[Flip a coin]] [[Adding shocks]] # Related - [[Readwise/Books/Teresa Torres - Continuous Discovery Habits_ Discover Products That Create Customer Value and Business Value]] - [[Business/Entrepreneurship/Competition is for losers]] - [[Readwise/Books/Eric Ries - The Lean Startup]] - [[Business/Entrepreneurship/Theory-Product-Market fit]] - [[Start-up ideation]] - [[Business/Entrepreneurship/Exploration vs exploitation]] # Product discovery >The classical model of discovery is as follows: you search for what you know (say, a new way to reach India) and find something you didn’t know was there (America). >~ [[Nassim Taleb]] #to-digest ![[Pasted image 20220616122444.png]] ## Challenge your [[Belief|belief]]s ![[3F01D570-C6F2-4BCC-B0DA-7D1B76F7DF6B.png]] >A fixed roadmap communicates **false certainty**. It says we know these are the right features to build, even though we know from experience their impact will likely fall short. An outcome communicates uncertainty. It says, We know we need this problem solved, but we don’t know the best way to solve it. It gives the product trio the latitude they need to explore and pivot when needed. If the product trio finds flaws with their initial solution, they can quickly shift to a new idea, often trying several before they ultimately find what will drive the desired outcome. >~ [[Teresa Torres]] ## Learning over performance >Additionally, these studies found that setting an initial learning goal (e.g., discover the strategies that might work) was more effective than setting a performance goal. Only once appropriate strategies were identified did performance increase with a specific, challenging performance goal. >~ [[Teresa Torres]] >Business outcomes into product outcomes you can deliver, negotiate appropriate product outcomes with your leadership team, and determine when to set learning goals versus performance goals. >~ [[Teresa Torres]] ## Alignment between business & product >Try to connect the dots between the business outcome and potential product outcomes. Can you clearly define how this new initiative will impact a product outcome? Is that outcome a leading indicator of the lagging indicator, business outcome? >~ [[Teresa Torres]] ## Focus >However, you’ve already learned that it takes time to learn how to impact a new outcome. When we ping-pong from outcome to outcome, we never reap the benefits of this learning curve. Instead, set an outcome for your team, and focus on it for a few quarters. >~ [[Teresa Torres]] That's why [[Deep work]] is so powerful. >Most teams will have more of an impact by focusing on one outcome at a time. >~ [[Teresa Torres]] ## Reaching outcomes without harming yourself in the way >In addition to your primary outcome, a team needs to monitor health metrics to ensure they aren’t causing detrimental effects elsewhere. For example, customer-acquisition goals are often paired with customer-satisfaction metrics to ensure that we aren’t acquiring unhappy customers. To be clear, this doesn’t mean one team is focused on both acquisition and satisfaction at the same time. It means their goal is to increase acquisition without negatively impacting satisfaction. >~ [[Teresa Torres]] ## [[Philosophy/Rationality/Models/Exploration vs exploitation|Exploration vs exploitation]] >You’ll never stumble upon the unexpected if you stick only to the familiar. >~ [[Teresa Torres]] --- https://www.producttalk.org/2022/04/discovery-in-startups/ https://productcoalition.com/a-continuous-product-discovery-framework-for-agile-teams-3ee87eda0bd9 https://www.amazon.com/Continuous-Discovery-Habits-Discover-Products/dp/1736633309 https://medium.com/glidr/what-is-continuous-discovery-a7ceda25dc9b <iframe width="560" height="315" src="https://www.youtube.com/embed/l7-5x0ra2tc" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>