Leadership principles for building a successful product company
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The document provides leadership principles for building a successful product company, as outlined by the CEO and founder of LaMetric. Some of the key principles discussed include having a separate workspace for the product team, hiring people with the right values like ambition and customer focus, balancing the team with different visions from product, engineering, and art, challenging the product team with tight budgets and deadlines, and driving the team with a leader's own example. The overall goal is to combine the team around a shared mission and business objectives to successfully develop products and get results.
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Leadership principles for building a successful product company
- 1. Leadership principles on the way to the successful product company Nazar Bilous - CEO, Founder
- 3. All team had service background lametric.com Service company Product part of Lemberg What works on this way?
- 4. Separate office space for product team lametric.com • Customer obsession • Industry knowledge • Top-down thinking • From impossible to possible • Deep debates to find a truth • Focus on results Product atmosphere It’s not about smoothie, it’s about culture!
- 5. lametric.com
- 6. Hire people with right values (or select such from service) lametric.com • Prefer ambitious • Generalists • Customer fans • Good abstract thinking • Do more than expected • Solve problem with efficient tool • Tend to build mechanisms • Special attitude to product Product people It’s about passion!
- 7. lametric.com
- 8. Balance team with different visions lametric.com Product vision Engineering vision Art vision Point of View Customer System Art Priority Benefits Features View Resource feeling Limited Unlimited Unlimited Value Benefits Stability&Scalability Love Entire team should learn product vision!
- 9. lametric.com Art vision adds heart to the product Engineering vision adds skeleton to the product Product vision adds human being characteristics to the product
- 10. Share business objectives lametric.com • Share business vision • Share product strategy • Share marketing strategy • Share sales strategy • Constantly learn who are your customers Combine team around mission and sales!
- 11. lametric.com LaMetric mission is to decorate home&business environment with intelligent objects which enrich interior and get back people to natural information perception We start from clock category by building company on the edge of consumer electronics and home decor industries
- 12. Challenge the product team lametric.com 1. Fix budget 2. Set deadline 3. Set high expectations 4. There are no exit strategy 5. Take money from the market and commit 6. Increase pace of personal growth(10x) 7. Make product, get results Crowdfunding is awesome for product development!
- 13. lametric.com
- 14. Accept hot debates as part of the culture lametric.com • Be curious • Ask questions • Ask different questions about the same thing • Argue your solution • Transform the product into human being • Get truth together • Learn each other to listen • Don’t leave the room, discuss to the finish • Customer needs is the judge Leaders take final decision but listen to the whole team!
- 15. Test UX on “choleric” personality lametric.com If UX works for “choleric”, it will work for all! • Why I need to wait so long? - Make it faster • Why it’s so ugly? - Make it more “sexy” • You will know the real state of the product from “choleric” faster • Get feedback and improve
- 16. Frugality in all decisions lametric.com • Designers will design (drugs effect) • Engineers will develop (drugs effect) • You all need result as soon as possible Stop consuming engineering drugs and train team frugality!
- 17. lametric.com or develop own eCommerce or develop own support system or develop own reporting system What approach is better?
- 18. Invent and simplify lametric.com 1. The result of innovation is complex at the beginning 2. Think 3. Iterate 4. Simplify and add love 5. Make the last mile! Most companies don’t make it. Last mile makes your product!
- 19. lametric.com
- 20. lametric.com Drive team with own example • Leaders setup culture • Leaders setup pace • Leaders in the one room with a team • Share same challenge • Share nights • Help and develop your team At the end of the day team reflects leaders!
- 21. lametric.com
- 22. Be curious and dive deep lametric.com • Stay connected to details even it’s not your job • Audit details frequently • Ask deep questions from your perspective • Don’t afraid to ask foolish questions • Be hungry for detailed answers Small details will save product from a lot of problems!
- 23. Everyone should earn trust inside the team lametric.com • Be transparent with team members • Give everyone personal challenge • Help newcomers • Share responsibility with progress • Decrease control with progress • Hire Slow, Fire Fast - he/she can be Player B, attitude to the product is the main factor Champion Team will beat Team of Champions!
- 24. Get engineering support from the service experts lametric.com • Involve service team into engineering challenges • Brainstorm, discuss, involve • Get niche knowledge from similar projects Service experts will save you time/money!
- 25. lametric.com
- 26. Delegate only when understand lametric.com 1. Build first results with core team of generalists 2. Understand process 3. Put in the system 4. Describe 5. After early stage start delegate and grow with specialists 6. If you involve external organisations - control vision Don’t seek for easy way!
- 27. lametric.com