Colleen Graneto, Airbnb. 3 steps to better product decision making
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Colleen’s worked with B2B, B2C, and platform products over the last 15 years, including the last 5+ at Airbnb, and has a unique understanding of what is necessary to launch products that resonate with users, and of how to bring those products to market quickly. Colleen also teaches and coaches at both General Assembly and UC Berkeley Executive Education, and is passionate about helping teams use strong product development methodology!
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Colleen Graneto, Airbnb. 3 steps to better product decision making
- 1. Three steps to better product decision making Colleen Graneto
- 2. ”If you don’t make a decision, you still have made a choice” -Geddy Lee
- 3. Managing products, you make tons of decisions every day!
- 4. We don’t just want to make decisions, but make the best decision possible with the information we have at the time
- 5. How to make better product decisions? 1. Build your process 2. Decide how much information you need 3. Move quickly!
- 8. ● What’s going on? What’s the context? What’s at stake? The decision Decision Outcome Principles Stakeholders Data & expertise Risks Communication
- 9. ● What’s the ideal outcome? The outcome
- 10. ● What’s important to stay true to your product vision? Product principles
- 12. ● What information would help make a better decision? ● What info are you missing? ● Who’s perspectives would be valuable? Who are subject matter experts? Who might disagree? Data and perspectives?
- 13. ● What are the various options? ● How do they each play out? Risks, considerations, consequences? ● Play devils advocate Looking around corners
- 14. ● How will you share out information and get your team motivated around what was decided? Entire team has context and understands why the decision was made, even if they don’t agree with it. Disagree and commit. Communication
- 15. HOW MUCH INFO? The 70/40 Rule Avoid analysis paralysis
- 16. 4 Star General in the United States Army Oversaw 28 crises in his military career, over 35 years of service Reached highest military position in the Department of Defense, Chairman of the Joint Chiefs of Staff Who’s Colin Powell?
- 17. > 70% - you waited too long, there’s an opportunity cost 70% - you feel anxious, you know what you don’t know, but trust your intuition 40% - you feel ok, you have some idea, it’s still a toss up < 40% - you take a gamble, mistakes and bad decisions are made How much information do you need?
- 18. How much risk and urgency? High Urgency High Risk Low Risk Low Urgency 40% 70% 40% 40%
- 19. Vote! What quadrant would these decisions fall into?
- 20. MOVE QUICKLY De-risk decisions with experiments
- 21. Lessons learned the hard way
- 23. Sourcing
- 30. Sourcing Business Plan Logo & Name Photos Marketing Materials Set Up Etsy Shop Website Street Fairs Retail Stores Optimize Etsy Shop Research Market
- 31. Sound at all similar to how you do a product launch?
- 32. Sourcing Business Plan Logo & Name Photos Marketing Materials Set Up Etsy Shop Website Street Fairs Retail Stores Optimize Etsy Shop Research Market Opportunity sizing Research Impact assessment Product requirements docs Effort estimates RICE Framework Roadmaps Product Requirements Docs High Fidelity Prototypes User Stories Finally get in front of users! Do we get the results we expect in the first iteration? ……. Probably not! And all that planning and research ….. 😱
- 33. Let’s look at it another way ... Do things that don’t scale! Experiment
- 34. Sourcing Business Plan Logo & Name Photos Marketing Materials Set Up Etsy Shop Website Street Fairs Retail Stores Optimize Etsy Shop Research Market 1 3 2 4 5
- 37. Merchandising
- 38. Merchandising IMAGINE THE IDEAL OUTCOME Airbnb goes out and shoots footage and creates merchandising for every experience FIGURE OUT HOW TO SCALE Create a ‘formula’ for what types of pictures potential guests want to see, give guidance to hosts on how to fill this ‘formula’ with content they create on their own Smart algorithms that choose how to tag host created content, and how to feature content with a story arch based on the type of experience
- 41. How to do things that don’t scale
- 42. How might we … Learn more about this opportunity in the fastest, cheapest way possible? Get creative! Crazy 8s -- everyone on the team comes up with 8 answers to that question in ~15 minutes, share and build on each other’s ideas!
- 44. How to make better product decisions 1. Build your process 2. Decide how much information you need 3. Move quickly!