Experimentation in Product Development: Crafting a Culture for Success
Lessons in Product Development
In this episode, our host Jon Tobin delves into the world of product development with guest Sue, co-founder of Alico, a wellness platform. Sue’s passion for continuous improvement and personal growth shines through as she shares her experiences and insights.
The episode covers various topics, including Sue’s dedication to personal well-being through activities such as windsurfing and free diving. It also delves into the philosophy of experimentation in product development as a mindset for decision-making based on empirical evidence. Sue shares real-life examples of failed experiments and discusses strategies for testing experiments with both early-stage startups and established businesses.
One of the main topics explored in this episode is the philosophy and mindset of experimentation in product development. Sue and Jon delve into the importance of testing desirability and viability before fully designing an experiment, sharing examples and practical advice for conducting outreach and testing experiments with early-stage startups, small customer bases, and larger organizations.
Throughout the conversation, Sue emphasizes the iterative nature of experimentation and the necessity of making it a part of the company culture. From measuring the success of experiments to the challenges faced in smaller companies and businesses, Sue and Jon provide valuable insights into creating a culture of experimentation within product teams and organizations.
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Today’s Guest: Suyin Kee
Su, the co-founder of Alico, a well-being platform that centers on personal growth and holistic health, carries a rich background in product management, particularly within the realm of health tech startups. Her fervor for continual enhancement, knowledge acquisition, and individual progress radiates through her work.
In addition to her professional endeavors, Su places a high value on self-care, setting aside half a day each week for activities such as engrossing reading sessions, reflective writing, invigorating windsurfing, and challenging bouldering, all aimed at nurturing her physical and mental wellness. Furthermore, she finds solace and mindfulness in the art of free diving.
Su’s unwavering dedication to product development experimentation, grounded in empirical data, not only shapes her methodology but also positions her as a pivotal figure in fostering a thriving culture within the industry.
The best bits:
00:00 Introduction to product perspective with guest Sue, co-founder of Alico, discussing cultivating innovation in health tech startups.
06:22 Product managers make strategic bets, prioritize initiatives based on data, and use methods like RISE for high impact decisions.
07:50 Emphasizes practicality and evidence-based decision making for product experiments.
11:17 Early stage startup challenges: reaching new users, limited resources, minimal experimentation, conscious approach, small hypothesis tests.
15:44 Emphasizing roadmap distribution within product teams for innovation and investment profile.
17:11 Company developed and tested workshops, used existing teachers and technology for smooth execution, emphasized importance of experimentation and beta testing for continuous improvement and innovation.
20:25 The text discusses the importance of statistical significance, driver metrics, and collaboration for accurate data interpretation and decision-making.
23:46 Focus on tracking CAC, LTV, churn, ideal customer, and experiment success for better product decisions and continued improvement.
29:48 Emphasizes on teamwork, collaboration, and practical experimentation for product development.
31:05 Promoting transparency and business mindset in startups and larger organizations for innovation and teamwork.
34:13 Expresses gratitude and appreciation for the conversation.
