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A Framework for Product Prioritization: RICE

Back to talking about product! Last week, I talked about the importance of product prioritization and the product roadmap. I’ve also shared takeaways from Des Traynor of Intercom talk on product development. Specifically, how to drive adoption and engagement. Today, here’s a framework for product prioritization – RICE. Reach – How many customers or prospects would a feature/ development engage?Impact – What is the outcome/ results of a build? Would this drive engagement – feature/ user adoption? Drive revenue?Confidence – How likely would development have the effect on reach and impact?Effort – How many total man-hours/ weeks/ months would this development take? Remember to include hours for each resource across functions (i.e. product, front-end, back-end).Intercom suggests teams add bands of scores to quantify each factor as best as possible. For example, to understand the factor of Impact, scoring can follow: “3 for ‘massive impact’, 2 for ‘high’, 1 for ‘medium’, 0.5 for ‘low’, and…
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New Project: Video Blogging My Surgery Results

Every so often, I like to take on new personal projects. Late 2015, I wrote Postmortem of a Failed Startup: Lessons for Success (published on Amazon January 2016).Late 2016 saw me meet 100 Strangers in 100 Days.In 2017, I started my donut review blog Mmm Donut. This is the only project so far without a clear “finale”. This year, I am trying out video blogging. Specifically, I am posting to YouTube about my experience going under the knife to treat a herniated disc -- dubbed "Post-Op Stories". I’ve been living with a lot of pain since July 2017, and chose surgery (anterior cervical discectomy and fusion (ACDF)) as the solution.

I found a lot of disparate feedback about the patients, their situations, their treatments, and their long-term results. So, I’ve decided to video blog about the whole undertaking – weeks leading up to surgery for preparation, and then (now), days, weeks, and months post-op. All this to help others understand treatment options, specifically the ACDF, a…

Ratios and Multipliers in Business

Recently, I was reading an article in IndieHackers where a member sent out a landing page for an idea hoping to lean on sign-ups as a proxy for interest. With good interest, he would continue to chase the idea. However, he didn’t receive any sign-ups or feedback. He was stuck and was looking for feedback. One commenter pointed out the 90/9/1 rule of contributors. 90% of the web is made of consumers (“lurkers”).9% will contribute occasionally, not often.1% contribute to most of the web. This can apply to social networks, sign-ups, etc. There are many ratios that have developed over time in business. These are not hard-fast rules. Instead, they are general observations much like the golden ratio in nature or pi. Here are a few other rules.
80/20 where 20% of “xyz” contributes to 80% of some result. In consulting, I used to find ~20% of product SKUs contributed to 80% of the company revenue.10/10/100 from a sales leader panel about terminating a sales associate for poor performance/ poor …

Spotlights on Two Atlanta Startups Growing Through Regulations

What You Do During Interims Drives Success

Desire for achievement is best demonstrated during in the “interims”. What happens during interims have the greatest influence on results.
What is an interim? An interim is the moment between two moments, activities, or events. A moment, activity, or event could include: When a bodybuilder is working out in the gym.When a marketer launching or in the middle of a campaign push.When a singer is on stage. An interim then, is the in-between period between workouts at the gym, marketing campaigns, or on-stage during concerts. Interims are when desire shines greatest. This is where success is created.

I thought about this as I was leaving the gym the other day. As I left, I saw folks who had just arrived sitting on a couch. Clearly, they were waiting for others. If they sit there for 5-10 minutes, that’s 5-10 minutes they could have spent warming up. That’s 5-10 minutes they could have put their things away in the locker room. This, of course, does not include the time at home with diets, s…

Take-Aways from a CEO of a Startup From 5-50 Employees in 12 Months

I attended a meetup recently with a Q&A session with George Azih CEO of LeaseQuery, a company that has grown from 5 to 50 employees in the last year. His company is solving a real pain-point. In fact, what his tool provides addresses a mandate by upcoming financial reporting regulations -- specifically, lease accounting.

Having spent several years growing the business largely alone, he de-risked much of the business by proving traction. The company has been able to grow at rocket-pace all while still being bootstrapped. Nice.
A couple points that he attributes to the company’s success so far: The product is a SaaS application that helps companies comply with new accounting regulations around lease accounting. Read: This is a MUST-have.He has a strong leadership team that he regards as the three legs of a stool – he runs product and has two partners, Chris and Brendan, running sales and engineering, respectively.The company sells and collects 3-year commitments upfront. This reduces…