Know Priorities

Product prioritization made better

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Randy SkopecekMaker@rskopecek
Something to think about, scan over any of the following links about product prioritization: http://foldingburritos.com/produ... https://blog.intercom.io/rice-si... https://www.quora.com/What-are-t... https://www.productplan.com/stra... https://medium.com/design-of-a-t... There is a lot of cool advice in those articles. Yet, the goal of all of those is still to figure out what the priorities are (aka create a priority list) and one of the most common pitfalls is inclusion. The people in the ecosystem often already have the knowledge in their head about certain special considerations, which is why they would vote a particular way. If you believe as a PM that you are the only one to know and understand the cost implications, then that is really just part of your own decision making process for what you vote for. If you believe that "voice" really needs to be heard above and beyond other things, then segment PM and bump up the influence percentage. KP just takes a more basic approach than usual under the premise of simplicity that works. In a medium article I wrote earlier, I tried to comment on some of those basics that at there core can cause systemic issues. At their core, given different systems used to give you information, can you determine what to do? Likes: A is liked, B is liked = Nope Views: A is viewed, B is viewed = Nope Comments: A has a comment, B has a comment = Nope Ranges/Scales: A has 5 stars, B has 5 stars = Nope Top Priorities: A & B are top priorities = Nope List: B, A = Yes One Choice: B = Yes The majority of systems out there utilize systems of likes, views, comments, and scales. Which also means at their core, only having large numbers can show the difference. The catch: those same systems used also don't age the responses. So if A has 500 likes and B has only 70, you'll obviously pick A. However, basically everyone who voted for A did so 1.5 years ago. Do those people still want it? You can't really know unless your community is extremely active in managing that information, and none are. So you can be left with mis-information which puts all of the pressure back on the PO and team to use their best intuition. ref: https://medium.com/@randyskopece...
Justin JacksonPro@mijustin · ⚡️ transistor.fm
When I was a product manager I would have loved this feature: Giving different groups different weights for how much influence they have over priorities is smart. 👍
Randy SkopecekMaker@rskopecek
KP is used to calculate a priority list for your products based on the feedback from your product's ecosystem while allowing you to segment and control how much influence each segment has. It provides insight into the satisfaction levels of each segment based on the calculations as well as per segment priority lists. For example, if you need to sort out what the priorities should be on your product/initiative you might create segments like: Paid Customers 35%, Partners 20%, Employees 30%, Investors 10%, and Free Customers 5%. You'll get a priority list for each segment, a final priority list overall, how many people participated per segment, and how satisfied each segment will be with the final priority list. Only the PM sees results, knows the segments, their percentages, etc. We encourage transparency, but it's usually good to get a grasp on what works first. The priority list is a bit flexible in that you can change the influence %'s for the segments during prioritization and for a brief time following the window. This allows you the ability to tune your ecosystem's satisfaction and see the new priorities as an outcome. Influence %'s and Segments act as a delegate, which means that uneven distributions of people don't matter. So, having 30K customers and 10 employees each with 50% influence means it's the same as if only 1 person voted for customers and 1 person voted for employees. That ensures that your assignment of influence %'s is adhered to. It is currently designed to support 5 segments, 20 active options, influence from 0.1% to 100%, 72 hour voting window, and up to 50K votes each prioritization (iteration). There are reasons for each current restriction, which I can mention at some point. The website (www) holds some more information and 3 very brief videos that takes you from start to results. If you've got questions, just let me know. If it's your cup of tea and you want to sign up, here is a link for 10% off the first 12 months: https://app.knowpriorities.com/s...
Rotem Yakir@rotemthegolfer · Guggy CEO - Make your friends laugh
@rskopecek Looks pretty cool. Too bad there isn't a free tier, and as I understand it's not meant for an agile project management, right?
Randy SkopecekMaker@rskopecek
@rotemthegolfer I'm game for sorting out logistics how to have a free tier sometime. It's just not there currently. Free tiers just always cost money and depending on what product person I talk to there are some stark reactions to having one. FWIW, I actually had a free tier on an earlier version. Yes it is also for agile, just in a little bit different approach than traditionally. For reference, I was/am/whatever a SCM. One of the cruxes in agile is that typically 1 person (PO/PM) has to be the gateway for the iterations priorities. This product enhances that process by allowing the PO to more thoroughly involve all stakeholders and play puppet master to the calculation process. In fact, part of the planning process in agile includes having a long meeting to hash stuff out to officially set the priorities. That can and should still happen. However, If you include those participants who just happen to also be stakeholders into this prioritization process then by the time you have that meeting you should find it is refocused on sub-task creation and execution. If you find yourself re-hashing the priorities in that meeting, then the PO just needs to reflect on what/why and alter the segments and their influences in the future. Like any typical iteration process, it will probably take several before the team is running full steam. Something to consider, KP operates to help the "prioritization" phase. It really won't matter what process or framework used because it is a lower level thing. So it works just fine if you use process-less, agile, scrum, kanban, waterfall, etc. Any other questions or comments I can help with? Any cool gif to toss in?
Rotem Yakir@rotemthegolfer · Guggy CEO - Make your friends laugh
@rskopecek No, I think you gave a great answer, I will have my partner (VP R&D) to take a look.
Randy SkopecekMaker@rskopecek
@rotemthegolfer Awesome, and thanks for the GIF! If you or your partner has any questions, don't hesitate to let me know.
Rotem Yakir@rotemthegolfer · Guggy CEO - Make your friends laugh
@rskopecek thank you :)
Randy SkopecekMaker@rskopecek
@rotemthegolfer Since you weren't cc'd on the other thread, I figured it's worth mentioning it. I added a special offer good through tomorrow 8/5 on one of the other comments, if that helps your partner feel more like taking the product for a spin.
Yonatan Wolowelsky@grmmph · Professional double clicker
Though 36$/m seems overpriced imo, I really like this one's flow!
Randy SkopecekMaker@rskopecek
@grmmph I'm glad you like the flow! Pricing is always a challenging subject. I settled on $36 because of the advice from a lot of successful product people who basically stated start no lower than $29 and also "charge more". Far too often people charge too less and their product's operation starves, which really in turn upsets the customer. It is also a challenge because, KP doesn't match up with any other product I've been able to find so I can't "check the competition" and match or undercut. The pricing is actually setup as $12/m/p with a 3 product minimum. I watch a lot of people in the industry having the 1 primary product they use but at the same time trying other initiatives. The 3 product minimum provides a balance point for customer cost stability (aka "what the heck is my bill going to be this month"), allowing the customer some room for experimentation, and also allowing adequate product operation. Two options I have considered and am open to discussing their logistics, are 1) minimum of 1 and 2) per vote pricing. The challenge with both is that I would have to review what an adequate minimum price threshold would be. It's not really reasonable for me to support a product on $0.75 unless I'm selling a massive ton of them. Potentially like @rotemthegolfer wanted, a free tier could eventually be implemented. However, another option you may prefer is open source. As part of the transparency of KP, I open sourced the calculation engine. It's currently a major version behind, but that's because I've been busy building the current version of KP. https://github.com/KnowPrioritie...
Anthony@alassiter
@rskopecek @grmmph @rotemthegolfer Not to promise anything, but a 1 product minimum would be appealing
Yonatan Wolowelsky@grmmph · Professional double clicker
@rskopecek I understand your concerns as a product owner, but as a user I disagree. At the end of the day your product's pricing should be based on the follow parameters: what it has to offer, cost to operate and competition. What you have to offer: - Conceptually your idea is great, as been already said. - Technically, as a web developer I can say that there's not much that special. This is important for the competition part, because it would be really easy to copycat your idea and create more competition. Cost to operate: Does it really cost you that much? I'd assume that atm you are backed by investors or by your own fortune, so more important is to be attractive and get users than to be profitable from day 1. But I might be wrong on that. Competition: Again, at the moment as you said you have no competition, but soon (see technical part) you will have - because your idea is great and so easy to clone. To summarize this: Is seems like all parameters affecting and depending on each other and leading to the conclusion that maybe you don't have competition now, but you could have very soon - and then you'll end up being just another competitor in the market with unappealing pricing model. No one would care that you were the first. That's my 2 cents. Great of luck :)
Randy SkopecekMaker@rskopecek
@anthony_lassiter @grmmph @rotemthegolfer As mentioned, pricing is always a challenging subject. I prefer to take time to reflect on all of your 2 cents and am certainly open to discussing what seems like a fair price. So what about a compromise in the meantime. How about I do the following, If anyone here signs up by end of day tomorrow (8/5/16) using the link below and reply to me here that you want to take advantage of this, I'll add a discount code onto your account that makes the price the same as a single product (aka $12/m) for a 3 month duration. You already get a 14 day free trial anyway, but this will give you 3 months to give it a try and see what value it brings to your situation. At the same time, that also gives me time to reflect and hash over what seems like a fair price. https://app.knowpriorities.com/s... Questions or thoughts?
Randy SkopecekMaker@rskopecek
@grmmph Yonatan, I greatly appreciate your candid feedback. I am not investor or fortune backed, just bootstrapped as it were. Regarding "Does it really cost you that much?", unfortunately the cost is going to be a bit subjective. Short of having a ton of customers, it's hard to predict what the true support and operational costs would be. I would also like to be able to be somewhat actively engaged to help customers succeed which can prove challenging at certain pricing thresholds. Regarding "what you have to offer/not much that special", from a web styling and flow stance I totally agree. I bought a theme, worked out some UX flow, and such. I've even open sourced some aspects of the calculation process, even though it's a version behind. The thing that keeps coming up though is "why". Copying what someone has done can be easy, but knowing "why" so you ensure the longevity is a much deeper challenge. It's the same reason agile/scrum/etc has to be constantly pushed because it goes against the grain. For whatever reason, people inherently like complicated things over simple things because the complication in theory adds that edge and magic. I've been writing a book on all of the "why" hopefully to others benefit, if not...at least my own for easy reference :). Regarding competition, to a certain point I would certainly welcome it. I always hated sitting on the phone waiting long periods of time for a customer service rep from the TV company or Internet company to answer...especially when the customer base would put shorter periods higher on the priority list. To me prioritization issues are everywhere, and I'm just hopeful that my efforts can help. Also on the competition front, I gave an exec at UserVoice some information on how to help get better prioritization results. Their response was to ask me write a blog post instead of reflecting on it. I did, admittedly not to the tone/style they were looking for, so it never got published. I say that because even if I could help the other companies out there and do my own stuff, it still doesn't cover the entire market. From my research,...it barely scratches the surface.