A couple of weeks ago, I was part of a panel of startup owners in a workshop titled ‘Fail Fast, Learn Often’. The audience was a group of undergraduate students and eager/curious prospective entrepreneurs who, for probably the first time in their schooling lives, were being encouraged to fail (but not really). When it was time to turn to the crowd and field their comments and questions, these are the types of statements I started to hear.
We live in a customer-centric world.
More increasingly than ever, if your customers aren’t pleased, your business will suffer. In fact, the problem is worse than that.
These days, customers expect to be almost instantly pleased. If they are not, you run the risk of being, at best, ignored and, at worst, dead.
One of the biggest challenges that Product Managers face these days is that of prioritizing tasks. In ever rapidly changing markets, it becomes vital for product managers and their teams to work on the right things at the right time.
A commonly stated framework in product development that is used to help make some sense of task priorities is Stephen Covey’s famous Urgent vs Important Matrix (Figure 1). The idea is simple enough: break up all your given tasks and feature requests into the four shown buckets. And then double-down on those which fall into the Important tasks first.
This framework helps in giving some general guidance, but I want to take it a step further. In this post, I want to share with you an alteration to the framework. I opted to use terms that are commonly used in today’s product development and management practices, particularly pertaining (though not exclusively) to tech startups.
In my mind, 2013 was the year of the fool. And I’m not even talking about my own journey.
By now you’ve probably already heard the oft-quoted saying popularized by Steve Jobs:”Stay hungry, stay foolish.” Many have already talked about the virtue of being hungry for results and being passionate about what one is working on.
But what about being “foolish”?