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Product Management

Opportunity Costs in Product Development

In the a product version of the actor-observer we often find short comings in product and product teams that it seems obvious that a given feature or aspect such be built, and therefore the team must be incompetent for not having built it yet. More likely is that the team had other things to work on, prioritize and therefore has not gotten to it yet. The opportunity costs of working on that feature or bug are too high versus the other aspects of their roadmap. This highlights the importance of prioritization within a product a roadmap1.

Tiny Wins

Tiny wins are standalone product improvements that require low effort and have high impact. More specifically, they are high volume actions, and therefore high volume annoyances that when fixed provide user satisfaction. Often, Tiny wins are shortcuts, they save a user’s time by getting rid of existing steps. These help built user loyalty between spells of larger projects. You can’t trust your users to bubble up tiny wins. Ship these wins regularly, and maintain a healthy backlog of them2.

Prioritization Frameworks


References

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