In order to successfully build a product, you need to constantly
move the needle. Large companies build SWAT teams that are made for
this purpose. As a startup, you are your own SWAT team. Your
competitive advantage comes from your ability to attack one problem
at a time.
A focus in developing products doesn't mean exchanging long-term
product vision for short-term thinking. It means setting meaningful
goals that allow you to track your success, adjust, and
iterate.
(source: Coelevate)
Startups operate under conditions of extreme uncertainty, and
it's tempting to try a lot of different things rather than put all
your eggs in one basket. Trying too many things at the same time,
however, means that you'll do none of them well.
By focusing on one goal and one metric at a time, you can
constantly adjust to circumstances and change course, while
learning quickly enough to grow.
---
Former HubSpot VP of Growth,
Brian Balfour, gives a 4-step process for building
focus:
- Identify one long-term meaningful goal: This
might mean boosting the single metric we discussed in the last
chapter. The alternative to focusing on one goal that matters is to
spread yourself thin on short-term optimizations in order to hedge
your bets.
- Distill the most important thing to make progress
toward that goal. Say that tour goal is to increase inside
sales revenue by 40%. Using data has shown you that users
integrating other services increases free trial conversions by 3x.
You could then focus on getting these trial users on a call with a
sales rep.
- Create a timeline for making progress long enough to
gather data. All product initiatives need to have a clear
goal, a measuring stick for what success looks like, and enough
time to measure. For small teams, this should range from 30-60
days. Sticking to a timeline ensures that you don't sink too many
resources into a product goal that you can't achieve. It allows you
to move on and focus on the next thing.
- Editing your longer-term goal according to
data. The fourth step is why it's so important to set a
single measurable goal in the first place. It's what allows you to
figure out what you're doing right and wrong, and improve. Making
mistakes is forgivable and inevitable in product, but failing to
learn from them is wasteful.