"If you can't explain something in simple terms, you don't understand it" ~ Feynman.
This weekly publication is me trying to learn various aspects of product management, anything from business and tech to science and design!
Notes extend our memories and enhance our focus. But before building a note-taking system, or taking notes, one should be clear of the purpose of notes.
Decide whether to optimise for review or retrieval practice.
For docs you don’t plan to study extensively, the review is the obvious choice.
For texts you need to master perfectly, the Question Book Method (for theory) or flashcards (for details) saves time.
When you want to take notes to read them for pleasure afterwards, highlighting and marginalia could be more suited. But if rediscovery is your desire, a structured system, such as an index of the critical ideas, maybe better.
12 Feb 2021
Product Metrics: Metrics to assess CTA
CTA or Call to action is a marketing term for any device designed to prompt an immediate response or encourage a quick sale.
The three key metrics to measure for each CTA are:
Click-through rate: a measure of what portion of the people who see your CTA, on your blog, in an email or social media — click on it.
Clicks to submission: Of those who click on the CTA to reach a landing page, how many submit the landing page form and enter your lead nurturing program?
Views to submission: What percentage of people who see a CTA end up converting into a lead?
12 Feb 2021
Decision Model: MECE Strategy
The MECE principle suggests that to understand and fix any large problem, you need to understand your options by sorting them into categories that are:
Mutually Exclusive – Items can only fit into one category at a time and
Collectively Exhaustive – All items can fit into one of the categories.
MECE helps to break down the complex problem into smaller, non-overlapping units which overall constitutes the complete problem. We can then proceed with the analysis of the individual subproblems and further apply MECE if possible.
27 Jan 2021
Soft Skills: Learning Better
Merely acquiring information is not learning. Learning is a two-step process:
Read or listen: feeding ourselves new information.
Process and recall: connecting new materials to what we already knew.
Our focus should be on understanding the bigger picture, on how things relate to each other.
There are many ways to learn effectively, and it boils down to our personal preferences. This can be either by mind mapping, or active recall, or teaching others, or any combination of these and other techniques.
26 Jan 2021
Product Metrics: Churn Rate vs Growth Rate
Principle: Churn rate measures how much an old customer is engaged with the business. This is different from the growth rate, which measures the scale at which the business grows.
Situation: High churn rate signifies that old customers are now not using the product or service. Growth rate focuses on the new customer segment.
Note: Generally speaking, the churn rate should be used when a business has reached maturity in terms of its feature delivery. For a young business or feature, growth rate proves to be a worthy metric to track.
25 Jan 2021
Decision Model: 80/20 Rule
Principle: "Work smarter". There’s a lot of data and factors out there relating to your problem, and a lot of analyses you could do. Ignore most of them. Focus on the most important ones — the key drivers.
Situation: 80 per cent of sales will come from 20 per cent of your sales force; 20 per cent of a job will take up 80 per cent of the time; 20 per cent of the population controls 80 per cent of the wealth.
Note: It doesn’t always work (sometimes the bread falls butter-side up). Not to forget, numbers "80" and "20" just represent "big" and "small" analogy!
17 Jan 2021
Prep for Product Management Interviews!
Types of questions and preparation strategy for Product Management Interviews!
10 Jan 2021
Generic Case Interview Overview
Here we get a general overview of dealing with the Generic Case interview questions.
9 Jan 2021
Growth Case Overview
Here we get a general overview of dealing with the Growth Case interview questions.
9 Jan 2021
Pricing Case Overview
Here we get a general overview of dealing with the Pricing Case interview questions.
9 Jan 2021
Market Entry Case Overview
Here we get a general overview of dealing with the Market Entry Case interview questions.
5 Jan 2021
Profitability Case Overview
Here we get a general overview of dealing with the Profitability Case interview questions.
3 Jan 2021
Do's and Don'ts in a case interview
List of important things which you must always do in a case interview, and another list which you should never do!
2 Jan 2021
The logical approach in a case interview
The four key ingredients which makes the logical approach of a case interview!
1 Jan 2021
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This me trying to learn various aspects of product management, anything from business and tech to science and design!
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