Friday was my last day at @Optimizely, a bittersweet ending to a 7 (!) year journey founding @expengine, joining Opti, and leading our 💯 product team. I shared what I've learned in a last lecture, and thought I'd share it here too 👇 (warning: mega thread + startup realness)
As a product leader, I had to start there. What have I learned about building great software and the craft of product management?
1. Say "no" more
2. Focus on users
3. Fast beats right
🙅🏻‍♀️ Say "no" more. You don't have a good product strategy until everyone knows what you *won't* build, and you stick to it. Also p.s. B2B enterprise PMs: saying "yes" to custom features for prospects or unhappy customers rarely works in your favor in the long term.
🤗 Focus on users. Not buyers. Not your users' bosses. Not prospects. Users. Measure for both adoption and delight and obsess about both. We were able to swing NPS for a product 100 (!) points in the right direction by paying attention.
🏃‍♀️ Fast beats right. There is rarely an instance I can think of where we wouldn't have been better off deciding faster, building faster, shipping faster. Investment in making your engineers more productive and happy pays off. As a leader, I've lowered my tolerance for slow.
So that's product. But once you become Chief Something Officer, you have to think about the whole deal. So what have I learned about business?
1. Retention, retention, retention (pt.1)
2. Retention, retention, retention (pt.2)
3. Ownership
💰 Retention, Retention Retention (pt.1) - Net Dollar Retention is the SaaS metric to rule them all. If you're selling subscriptions, you better have a good plan for retaining and expanding those customers. The entire company should care about this. https://twitter.com/chriscantino/status/1321589761165778944
👯‍♀️ Retention, Retention, Retention (pt. 2) - Employee retention is the company metric to rule them all. I've had almost 0 regretted attrition on my team. How? Interesting problems that can be solved, clear career ladders/org design, and some fun. https://twitter.com/saranormous/status/1321242847564083200
🏡 Ownership. This was my favorite cultural value at Optimizely because it let me bring my big founder energy even though I wasn't a founder. True test of ownership: will you raise your hand to be accountable, both good and bad? https://twitter.com/ghoshal/status/1322019324652081153
Finally, this was a high growth time in my career and I learned a few things that might be useful to others as they navigate startup life:
1. OMFG KNOW HOW EQUITY WORKS
2. Ladies: call out BS and PLEASE NEGOTIATE
3. Time flies when you're having fun
💵 OMFG KNOW HOW EQUITY WORKS. I know so many startup employees who have big % comp as equity but have no idea how it works. Educate yourself on what questions to ask when interviewing, how to assess value, and how exits (really) look. I'm now twice-acquired and still learning.
👭 Ladies - two big lessons for you. First: Call out the 🐂💩. If you see something (sexual harassment, bad parental leave), say something. Make some noise.
Second, PLS PLS PLS NEGOTIATE. 100% of men have negotiated with me vs. < 10% of women. https://twitter.com/cindygallop/status/840323111597854720?lang=en
💕 Finally, time flies when you're having fun. I've had the MOST fun with @thatsjonsense @keithadam (h/t for the last lecture idea) @whelan_boyd @ceimaj @byro @Bexcitement @koomen @robinpam @YeelandChen @crocophant and all Optinauts. I'll miss you and will be cheering you on!
You can follow @clairevo.
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