go your own way | the path of product company | wordcamp tampa 2014

Go Your Own Way The Path of a Product Company

Nathan Hangen

Nathan Hangen @nhangen

Psyop Sergeant Runner & Triathlete Coach Soccer Addict Brewmaster Entrepreneur

IgnitionDeck.com | @IgnitionDeck

2.5

5

7.5

10

2011

Launch

35

70

105

140

2011 2012

46x

35

70

105

140

2011 2012 2013

90% Product

100

200

300

400

2011 2012 2013 2014

200%

300

600

900

1200

2011 2012 2013 2014 2015

?

Generating Ideas

– Derek Sivers

“Ideas are a just a multiplier of execution”

Characteristics of a Successful Product

• Redefines an Existing Market

• 10x Improvement on Existing Market Leader

• Defines a New Market

• Fills a Gap in the Market

– Peter Theil

“The most successful businesses have an idea for the future that's very different from the present”

GYOW: We Build Products That Empower Entrepreneurs

Build Baby Build

– Mark Zuckerberg

“Move fast and break things. Unless you are breaking stuff, you are not moving fast enough.”

GYOW: Build for testing, not for perfection

Testing Product Market Fit

– Steve Blank

“No plan survives first contact with a customer”

Soft Launch

Shelving vs Killing

GYOW: Customer feedback is the only feedback that matters

– Jack Welch

“If you don’t have a competitive advantage, don’t compete”

Choosing a Model

Pricing

GYOW: Choose the Model that allows you to build a sustainable business

– Steve Jobs

“…there’s just a tremendous amount of craftsmanship in between a great idea and a great product.”

GYOW: The future of WordPress is independent from its history

We’re all making it up as we go along

– Morpheus

“There is a difference between knowing the path and walking the path”