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Curing Shiny Object
Syndrome
Setting Goals & Priorities for
Success
Curing Shiny object syndrome
Curing Shiny object syndrome
Curing Shiny object syndrome
Curing Shiny object syndrome
Curing Shiny object syndrome
Curing Shiny object syndrome
Curing Shiny object syndrome
Curing Shiny object syndrome
Curing Shiny object syndrome
UpUp Labs
Shiny Object Syndrome
pursuing every idea that seems good
without prioritizing, seeing it through to a
reasonable return on investment, or deciding
to abandon it when it doesn’t deliver
20+ years in product development, Product Manager,
Scrum Master, Development Manager, Designer, VP, CPO,
Coach & Mentor, Founded 3 companies, Acquired (3x),
Acquirer (3x), Currently beta testing Reqqs, the smart
roadmapping tool for product people, sports car & craft
beer enthusiast
Curing Shiny object syndrome
Flip Over Your Business
Card
Write 1-3 goals on the back
Hand it up to me
UpUp Labs
4-Part Cure
Vision
Strategy
Goals
Prioritized Ideas
Curing Shiny object syndrome
UpUp Labs
The leading supplier of
landscape equipment and
materials to affluent Americans
Vision = What we want to be
when we grow up
UpUp Labs
The go-to source for tweens
and teenage girls around the
world for fun collectibles
Vision = What we want to be
when we grow up
UpUp Labs
The #1 source of B2B contact
information for marketers
Vision = What we want to be
when we grow up
Curing Shiny object syndrome
UpUp Labs
Strategy
=
How you will
achieve your vision
Leverage crowd-sourcing to
develop the largest and most-
accurate B2B contact
database
The #1 source of B2B contact
information for marketers
UpUp Labs
Goals =
How you will
measure execution
of your strategy
UpUp Labs
3 Drivers / 10 Goals
Sustainable
Differentiation
Support your core value
Create barriers to competition
Growth
Grow market share
Fulfill more demand
Develop new markets
Improve recurring revenue
Profit
Support higher prices
Improve lifetime value
Lower costs
Leverage existing assets
Ends vs. Means
• HTML5 Redesign
• Social Integration
• Customer Requests
• Revenue
• Scalability
• Transformational
Ideas
Grow recurring revenue
Grow market share
Competitive barriers
Grow market share
Fulfill more demand
Leverage assets
Goals
The largest and most-accurate B2B contact
database
• Fulfill more demand by growing the database by
X%
• Create competitive barriers by raising accuracy by
Y%
The #1 source of B2B contact information for
marketers
• Grow revenue by Z% this year by fulfilling more
demand
• Test potential new sources of future growth & profit
Curing Shiny object syndrome
Bad Ways to Rank Ideas
Your CEO’s gut No longer in touch
Analyst opinions Mostly backward-looking
Popularity
Most customers are
small
Sales requests Change every week
Services
requests
Mostly incremental
Bad Ways to Rank Ideas
Your CEO’s gut No longer in touch
Analyst opinions Mostly backward-looking
Popularity
Most customers are
small
Sales requests Change every week
Services
requests
Mostly incremental
Bad Ways to Rank Ideas
Your CEO’s gut No longer in touch
Analyst opinions Mostly backward-looking
Popularity
Most customers are
small
Sales requests Change every week
Services
requests
Mostly incremental
Bad Ways to Rank Ideas
Your CEO’s gut No longer in touch
Analyst opinions Mostly backward-looking
Popularity
Most customers are
small
Sales requests Change every week
Services
requests
Mostly incremental
Bad Ways to Rank Ideas
Your CEO’s gut No longer in touch
Analyst opinions Mostly backward-looking
Popularity
Most customers are
small
Sales requests Change every week
Services
requests
Mostly incremental
Bad Ways to Rank Ideas
Your CEO’s gut No longer in touch
Analyst opinions Mostly backward-looking
Popularity
Most customers are
small
Sales requests Change every week
Services
requests
Mostly incremental
Goals + Math = Better
UpUp Labs
Value / Effort = Priority
Value = expected contribution
to goals
Effort = work the organization
must do to realize value
UpUp Labs
Measuring Contribution
• Exact numbers
• 1-10
• 1-100
• Fibonacci
• 1 to 5 stars
• 0,1,2
Curing Shiny object syndrome
Estimating Effort
Do NOT ask Engineering for an estimate
Do it yourself
NOT person-months
NOT sprints
0-5 scale
Some Types of Effort
• Development
• Investigation
• Support
• Sales
• Partnership / OEM / Acquisition
• Market Research
• Merchandising
Curing Shiny object syndrome
UpUp Labs
Value / Effort = Priority
(G1+G2+G3) / (E1+E2) x Confidence = P
Confidence = Your certainty that your scores
are accurate
Idea G1 G2 E Raw C
Scor
e
A 1 1 2 1 75% 0.75
B 1 0 2 0.5 90% 0.45
C 2 -1 1 1 40% 0.4
(G1+G2) / E =
Raw
((G1+G2) / E) * C =
Score
Curing Shiny object syndrome
UpUp Labs
4-Part Cure
Vision
Strategy
Goals
Prioritized Ideas
UpUp Labs
Everything is a Hypothesis
• How can you test your assumptions before
you implement?
• How can you test your assumptions with
an MVP?
• How can you verify your results after your
ship?
• What will you do if you fail?
Curing Shiny object syndrome
Bruce McCarthy
• Chief Product Person,
UpUp Labs
• bruce@reqqs.com
• @d8a_driven
• www.productpowers.com
• www.reqqs.com
• www.slideshare.net/bmm
ccarthy
• www.sohelpful.me/bruce
mccarthy

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Curing Shiny object syndrome

  • 1. Curing Shiny Object Syndrome Setting Goals & Priorities for Success
  • 11. UpUp Labs Shiny Object Syndrome pursuing every idea that seems good without prioritizing, seeing it through to a reasonable return on investment, or deciding to abandon it when it doesn’t deliver
  • 12. 20+ years in product development, Product Manager, Scrum Master, Development Manager, Designer, VP, CPO, Coach & Mentor, Founded 3 companies, Acquired (3x), Acquirer (3x), Currently beta testing Reqqs, the smart roadmapping tool for product people, sports car & craft beer enthusiast
  • 14. Flip Over Your Business Card Write 1-3 goals on the back Hand it up to me
  • 17. UpUp Labs The leading supplier of landscape equipment and materials to affluent Americans Vision = What we want to be when we grow up
  • 18. UpUp Labs The go-to source for tweens and teenage girls around the world for fun collectibles Vision = What we want to be when we grow up
  • 19. UpUp Labs The #1 source of B2B contact information for marketers Vision = What we want to be when we grow up
  • 21. UpUp Labs Strategy = How you will achieve your vision Leverage crowd-sourcing to develop the largest and most- accurate B2B contact database The #1 source of B2B contact information for marketers
  • 22. UpUp Labs Goals = How you will measure execution of your strategy
  • 23. UpUp Labs 3 Drivers / 10 Goals Sustainable Differentiation Support your core value Create barriers to competition Growth Grow market share Fulfill more demand Develop new markets Improve recurring revenue Profit Support higher prices Improve lifetime value Lower costs Leverage existing assets
  • 24. Ends vs. Means • HTML5 Redesign • Social Integration • Customer Requests • Revenue • Scalability • Transformational Ideas Grow recurring revenue Grow market share Competitive barriers Grow market share Fulfill more demand Leverage assets
  • 25. Goals The largest and most-accurate B2B contact database • Fulfill more demand by growing the database by X% • Create competitive barriers by raising accuracy by Y% The #1 source of B2B contact information for marketers • Grow revenue by Z% this year by fulfilling more demand • Test potential new sources of future growth & profit
  • 27. Bad Ways to Rank Ideas Your CEO’s gut No longer in touch Analyst opinions Mostly backward-looking Popularity Most customers are small Sales requests Change every week Services requests Mostly incremental
  • 28. Bad Ways to Rank Ideas Your CEO’s gut No longer in touch Analyst opinions Mostly backward-looking Popularity Most customers are small Sales requests Change every week Services requests Mostly incremental
  • 29. Bad Ways to Rank Ideas Your CEO’s gut No longer in touch Analyst opinions Mostly backward-looking Popularity Most customers are small Sales requests Change every week Services requests Mostly incremental
  • 30. Bad Ways to Rank Ideas Your CEO’s gut No longer in touch Analyst opinions Mostly backward-looking Popularity Most customers are small Sales requests Change every week Services requests Mostly incremental
  • 31. Bad Ways to Rank Ideas Your CEO’s gut No longer in touch Analyst opinions Mostly backward-looking Popularity Most customers are small Sales requests Change every week Services requests Mostly incremental
  • 32. Bad Ways to Rank Ideas Your CEO’s gut No longer in touch Analyst opinions Mostly backward-looking Popularity Most customers are small Sales requests Change every week Services requests Mostly incremental
  • 33. Goals + Math = Better
  • 34. UpUp Labs Value / Effort = Priority Value = expected contribution to goals Effort = work the organization must do to realize value
  • 35. UpUp Labs Measuring Contribution • Exact numbers • 1-10 • 1-100 • Fibonacci • 1 to 5 stars • 0,1,2
  • 37. Estimating Effort Do NOT ask Engineering for an estimate Do it yourself NOT person-months NOT sprints 0-5 scale
  • 38. Some Types of Effort • Development • Investigation • Support • Sales • Partnership / OEM / Acquisition • Market Research • Merchandising
  • 40. UpUp Labs Value / Effort = Priority (G1+G2+G3) / (E1+E2) x Confidence = P Confidence = Your certainty that your scores are accurate
  • 41. Idea G1 G2 E Raw C Scor e A 1 1 2 1 75% 0.75 B 1 0 2 0.5 90% 0.45 C 2 -1 1 1 40% 0.4 (G1+G2) / E = Raw ((G1+G2) / E) * C = Score
  • 44. UpUp Labs Everything is a Hypothesis • How can you test your assumptions before you implement? • How can you test your assumptions with an MVP? • How can you verify your results after your ship? • What will you do if you fail?
  • 46. Bruce McCarthy • Chief Product Person, UpUp Labs • bruce@reqqs.com • @d8a_driven • www.productpowers.com • www.reqqs.com • www.slideshare.net/bmm ccarthy • www.sohelpful.me/bruce mccarthy

Hinweis der Redaktion

  1. How do you diagnose SOS? See if any of these seem familiar Examples from your companies?
  2. How do you diagnose SOS? See if any of these seem familiar Examples from your companies?
  3. How do you diagnose SOS? See if any of these seem familiar Examples from your companies?
  4. How do you diagnose SOS? See if any of these seem familiar Examples from your companies?
  5. How do you diagnose SOS? See if any of these seem familiar Examples from your companies?
  6. How do you diagnose SOS? See if any of these seem familiar Examples from your companies?
  7. How do you diagnose SOS? See if any of these seem familiar Examples from your companies?
  8. How do you diagnose SOS? See if any of these seem familiar Examples from your companies?
  9. How do you diagnose SOS? See if any of these seem familiar Examples from your companies?
  10. If you get those two right, you have an effective vaccine against SOS
  11. Building up immunity against SOS starts with a vision
  12. A vision is a statement of one or more related problems you will solve for a particular type of customer It’s really a simplified value proposition for the whole company, a reason for doing business with us Simon Sinek in his book “Start with Why” would say this is why we as a company exist
  13. A vision is a statement of one or more related problems you will solve for a particular type of customer It’s really a simplified value proposition for the whole company, a reason for doing business with us Simon Sinek in his book “Start with Why” would say this is why we as a company exist
  14. If you are a one-product company (as many startups are), that translates directly to the value prop of your product Does your company have a clear vision for why it exists? Whom it serves? What problems it solves?
  15. Next is your strategy for achieving that vision This is the HOW to the WHY
  16. At NetP, this translated into “the largest and most-accurate B2B contact source” Which makes HOW we planned to achieve our vision of helping marketers find their buyers in a very concrete way The very concreteness of it made setting our product goals straight forward
  17. Goals are the WHAT you will actually do – the features you will build, the services you will provide, in order to execute on your strategy and thereby achieve your vision
  18. A goal is an end in itself, whereas an initiative is means to that end Which of these is an end, and which a means? What are you working on now Is that an end or a means?
  19. Think of the goals deriving from your strategy as EXTERNAL market-driven goals You can also derive INTERNAL goals by looking back at your original vision In order to stay in business, you’ve got to meet your business goals – within the context of your vision REVIEW BUSINESS CARDS
  20. So how DO you rank ideas?
  21. So how DO you rank ideas?
  22. So how DO you rank ideas?
  23. So how DO you rank ideas?
  24. So how DO you rank ideas?
  25. So how DO you rank ideas?
  26. Having goals that are tied to the vision for the company allows you to prioritize by judging which ideas get you closest to your goals for the least effort and risk
  27. In advance
  28. Now we’re going to talk about a most fearsome topic – estimating effort
  29. Also known as T-shirt sizing
  30. LOE isn’t the driver, but it is a key screener because of opportunity cost
  31. Ok, let’s put this all together
  32. Confidence is the inverse of risk
  33. Removing the QA step to ship early means negative numbers for quality (V2)