Summary
In this engaging panel discussion, Jeff shares a story from his team at a New York studio about a product called 'Ask Alexis,' meant to provide advice through text messaging. Despite initial traction and excitement, the product was ultimately scrapped due to a lack of sufficient commitment from the team, highlighting the critical need for full-time focus on new initiatives. Melissa echoes a similar experience, discussing the cancellation of a mobile payroll product after it disrupted existing revenue lines. Both emphasize the challenges of sustaining commitment and the need for ongoing iteration in product development. They further elaborate on the importance of allowing for experimentation within corporate structures to foster innovation, reflecting on lessons from both failures and successes.
Key Insights
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Commitment is crucial for the success of product initiatives; part-time efforts often lead to project failures.
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Experimentation should not stop after initial success; continued iteration and adaptation are essential.
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A product team must integrate internal feedback while balancing it against customer needs to achieve sustained success.
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Cultural acceptance of being wrong is necessary for innovation; teams must be open to failures.
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Strong opinions and rigorous debate can be beneficial, provided they are balanced with a willingness to listen and adapt.
Notable Quotes
"We realized that the level of commitment we needed was not possible given the full-time jobs of our consultants."
"Product development is a journey; you need to keep building and iterating both with customers and internally."
"Not just about having great ideas but about making them work with the right commitment."
"You could quantify what did and didn't work; data humbles you, even when you think you're right."
"The measure of success should not just be scope but the potential business impact."
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