Last updated 10th Sept, 2021
Our first milestone is to build a product that delights 20 crews (100 persons).
That's our focus. A delighted user:
- Love the product so much they have shared with 3+ friends.
- Continue to use the app 30+ days after activation.
- "5/5" level disappointed if they could no longer use it.
- "10/10" level of excitement to share with friends.
1. Start with the problem 2. Think in bets 3. Think big, start small 4. Focus on things that don't change 5. 10x better product & distribution 6. Build for delight. No more boring apps 7. Build for sharing
1. Start with the problem A problem (or opportunity) well framed is a problem half solved. Any solution that we ship is only ever as good as well we understand the problem. We talk with users everyday, we experiment to validate.
2. Think in bets The world is chaotic, there is no way we can gather exhaustive data. Most decisions are reversible anyway. We acknowledge that every decision is a bet. To make a bet we need to be able to discriminate success from failure, and choose beforehand how much time we are okay to spend on an idea.
3. Think big, start small - prototype the path
Be bold and radical. We are on mission to reinvent our category. We slow down to go deeper, draw a compelling vision cos we want a 10/10 perfect experience. Then we work backwards, we start with the smallest increment. We prototype to feel & try it out. We ship to learn, everything else is fiction & hypotheses.
Start w/ the product vision you believe in and cut back from there, rather than just what is achievable within a given timeframe/set of resources. The *vision* that gets people aligned and fired up shouldn't be scoped down from the start. Tweet by Scott Belsky →
4. Focus on things that don't change
I very frequently get the question: "What's going to change in the next 10 years?" And that is a very interesting question; it's a very common one. I almost never get the question: "What's not going to change in the next 10 years?" And I submit to you that the second question is actually the more important of the two — because you can build a business strategy around the things that are stable in time. Video interview with Jeff Bezos →
5. 10x better product & distribution We compete with indifference (almost every good idea has been built, there was probably 50 companies that tried to do viral videos before youtube or tiktok). Even if a product is marginally better, users won't change their behavior, it's too cumbersome. To win the market, we need a product that is 10x better... But that is not enough. Our distribution & sharing mechanisms are as important. We don't believe in the adage "build the product, users will come". Not in the age of mass distraction, users have never been more demanding.
"I bet I could make a new app that's 15% better," you think. "Instant business success!". This is a fallacy. Product builders are trained to ask: "Is our product better than the competition's?" What they should be asking instead is: "Is our product better enough to motivate a change in behavior?" A thread by Julie Zhuo →
6. Build for delight. No more boring apps
Our field industrialised itself and all products look the same: we entered the age of boring apps. But Gen-Z crave for shared experiences and fun. Feel each moment, it needs to be more than functional. We value craftmanship, nothing is every finished, everything can be rethought. As long as we have opinions & we take a stand.
Perhaps it's part of maturing, but I'm at a point in my life where I don't want more—I want better. When I use your app, I don't want to see your company's KPI. I want to see your point of view. The world should know that you made it. People should feel your passion vibrating off the screen. An essay by ANDY Works →
7. Build for sharing
While this doesn't have to happen immediately, we must give our user a reason to share with friends (formally or informally). This should be a combination of the product being so good users want to share it and clear incentives for people to share it (i.e. the value of the product increases for the user as more people join the product — otherwise known as network effects).
We constantly ask ourselves:
- Why do people come? What is our narrative & primitive?
- Why do people stay?
- Why do people share?
- Why do people pay?
We follow the following metrics:
- Acquisition: Cost Per Install (CPI)
- Activation: DAU, MAU, Stickiness (DAU/MAU), Sessions per DAU, Time per session
- Retention: D1, D7, D30 (+25% good, +45% great)
- Virality: Viral Coefficient
- Satisfaction: 5/5 level of disappointment if users could no longer use