1 Hack that helped me build a product roadmap efficiently. {Hint: It’s not building another feature} Hey, startup Founders, Tired of pouring resources into features that fail to deliver results? Let's cut through the noise and prioritize your product roadmap effectively. Your product roadmap may be overflowing with ideas, but not all features move the needle. It's time to distinguish between what's essential and what's merely noise. Enter the RICE model- a game-changer in product prioritization. Here's how it works: 1. Reach: Determine the potential user reach for each feature. How many users will benefit from this feature? 1000 users per month. 2. Impact: Evaluate the potential impact of each feature on users. On a scale of 1-5, with 5 being a significant impact, how much value does this feature add? 3. Confidence: Assess the level of confidence in the success of each feature. High (100%), Medium (80%), Low (50%). 4. Effort: Estimate the resources required to implement each feature. How many person-weeks or person-months will it take to develop this feature? 3 person-months. Calculating the RICE Score: RICE Score = (Reach x Impact x Confidence) / Effort Example: For a feature with 1000 users, an impact rating of 4, 80% confidence, and requiring 3 person-months, the RICE score would be (1000 x 4 x 80%) / 3 = 1067. A higher RICE score indicates greater potential value relative to effort. By applying the RICE model, you can prioritize features that offer the most significant impact with the least effort. This approach ensures that your product roadmap aligns with your business objectives and user needs, driving maximum value for your investment. P.S. Ready to streamline your product prioritization process and deliver results that matter? Share the challenges you are facing and let's solve them together. #saas #Saasgrowth #scale
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?? Building a SaaS MVP? Avoid These Common Pitfalls! Developing a SaaS MVP (Minimum Viable Product) is an exciting journey, but it’s also riddled with potential missteps that can delay your success. Here are some common pitfalls to watch out for—and how to navigate around them: 1?? Overloading Features: The temptation to build a “perfect product” is strong. But remember, MVPs are about solving one core problem effectively. Stick to the essentials; you can always scale later based on real user feedback. 2?? Skipping Market Validation: Building without understanding your audience’s needs is a recipe for failure. Invest time in surveys, interviews, and research to validate your idea before writing a single line of code. 3?? Ignoring Scalability: While MVPs should be lean, don’t neglect scalability. Use technologies and architectures that can grow with your product to avoid expensive rework later. 4?? Lack of Focus on UX/UI: An MVP doesn’t have to look perfect, but usability is key. A clunky or confusing interface can deter users, no matter how good your core solution is. 5?? Neglecting Feedback Loops: Your MVP is a learning tool. Build mechanisms to collect and analyze user feedback to iterate effectively. Without it, you’re flying blind. 6?? Underestimating Time to Market: Every delay is an opportunity for competitors to get ahead. Balance speed with quality to launch quickly but effectively. Building a SaaS MVP is all about striking the right balance between simplicity, usability, and scalability. Avoiding these pitfalls can save you time, money, and frustration—setting you on the path to success. ?? What challenges have you faced while developing a SaaS MVP? Let’s discuss! #SaaS #Startup #MVP #ProductDevelopment #TechLeadership
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Caught in a cycle of building and iterating without achieving growth? Don't miss Ben Williams' session at the upcoming Product Drive Summit. Join us to gain actionable insights for driving sustainable product growth and change how you think about product development. #SaaS #productgrowth #productdrive #productdevelopment
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Startup Mistake #1: The Underestimation of User Research Too many SaaS companies skimp on user research. They're so engrossed in their product vision that they forget who it’s for – the user. The result? A product that’s more a reflection of internal assumptions than user needs. We believe in digging deep into user personas, not just superficially, but to the core of their pain points. This isn’t a one-off task; it’s a continuous journey alongside product development.
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In the dynamic world of SaaS development, iterations are not just a strategy—they're a necessity. We are in the initial stages of building a SaaS product and iterative developments have allowed us to refine our offerings based on real user feedback and evolving market needs, we have been seeking continuous feedback and are working towards offering things that matter. At Stealth Startup, we prioritize building only the features that are essential and used 80-90% of the time. It's a well-known fact that in many SaaS products, around 40% of features go untouched. Isn't that crazy? Product and Dev teams spend a lot of time on building and then 40% is untouched. By focusing on the must-haves, we ensure that our resources are directed towards creating value and enhancing user experience. Here's how we leverage these insights: 1. User-Centric Design: We continually gather feedback from our users to understand their needs and pain points, ensuring that the features we develop are truly valuable. 2. Lean Development: By iterating quickly and efficiently, we can pivot or refine features based on user interactions and feedback, keeping our product aligned with user expectations. 3. Data-Driven Decisions: Utilizing analytics, we track feature usage to identify what's working and what isn't, allowing us to focus on high-impact areas. 4. Eliminating Waste: We consciously avoid the trap of building features that might seem exciting but offer little real-world value. This helps us maintain a lean, efficient, and effective product. Our approach ensures that we are not just building a product but creating a solution that our users love and rely on. Stay tuned as we continue to iterate, innovate, and deliver the best possible experience for our users. #SaaS #ProductDevelopment #LeanStartup #UserFeedback #Innovation #Vertocity #IterativeDevelopment
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Startup Mistake #1: The Underestimation of User Research Too many SaaS companies skimp on user research. They're so engrossed in their product vision that they forget who it’s for – the user. The result? A product that’s more a reflection of internal assumptions than user needs. We believe in digging deep into user personas, not just superficially, but to the core of their pain points. This isn’t a one-off task; it’s a continuous journey alongside product development.
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Your product gets worse every time you make it "better." ?? Do not let this kill your engagement ?? — It’s called feature bloat. Here's what happens: Your team has a great product meeting. Everyone's excited about new features. The roadmap is packed with "improvements." But with each new feature, something entirely different happens: your product actually gets WORSE at solving its core problem. This isn't just theory: ? Users engage with less than 20% of your features ? Support costs increase with each new feature ? Feature fatigue and confusion lead directly to churn ? Decision time increases exponentially with options (Hick's Law) So if you’re not careful, each new feature can make you worse at solving your core problem. Think of a Swiss army knife vs a chef's knife. The Swiss Army Knife does 100 things adequately. The chef's knife does 1 thing exceptionally. Which would a chef choose? This is why the best PMs say no by default. Or why best in class products (i.e. calendly) often have FEWER features than their competitors. So what's the solution? 1. Define your core problem ruthlessly 2. Reject features that don't directly solve it 3. Measure feature usage, not just adoption 4. Sunset features that dilute your core value The best product decisions are often about what to remove, not what to add. So the next time someone suggests a new feature, ask yourself: "Will this make us better at our core problem, or just better at more problems?" Your users don't want a product that does everything. They want a product that does exactly what they need. #saas #product #startup
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Elevate your product with Product Boosted's expertise in user onboarding, retention, and analytics. Our agile approach and cutting-edge methods ensure your product reaches its full potential. Let's ignite growth together! #SaaS #ProductBoosted #ProductManagement #startup #useronboarding
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What is an MVP in SaaS? An MVP (Minimum Viable Product) is a simplified version of a SaaS product, designed with just the core features needed to satisfy early users and gather feedback for future growth. Why MVPs Matter in SaaS Development MVPs are essential because they: - Save time and reduce costs - Enable faster market entry - Allow for real-time market validation Critical Benefits of Launching an MVP - Faster Time-to-Market - Early User Feedback - Reduced Development Costs - Real-Time Market Validation How to Build an Effective MVP for Your SaaS? - Identify the core problem you're solving. - Focus on essential features that deliver the most value. - Collect and analyze user feedback. - Iterate based on real-world data. Examples of Successful MVPs in SaaS Have you ever heard of Dropbox, Slack, or Airbnb? They all began as MVPs and grew to industry giants by leveraging user feedback and evolving to meet demand. Takeaway In SaaS, an MVP minimizes risk while maximizing learning. Build wise, gather insights, and scale your product for success. #SaaS #ProductDevelopment #MVP #Startup #Innovation #MuhammadSaad
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Beyond Product-Market Fit: Our Journey to Sustained Growth?(#PMF) When I was reflecting on our 10-year journey, I deeply resonated with Brian Balfour’s idea that product-market fit alone isn't enough. It's about continuously evolving with the Market-Product, Product-Channel, Channel-Model, and Model-Market fits. In the past two years, we've faced significant challenges in emBlue. However, thanks to our incredible #team, #agile practices, and a #culture focused on product and results, we’re now ahead of the industry, releasing features faster than our customers can adopt them ?? We confronted almost 3 of these challenges with some strengths and threats in our backpack: a current customer base that gives us direct insight into industry pains and the #technicaldebt accumulated over the years. Running a 10-year-old company is different from a startup. While startups often build from the ground up, established companies must continuously innovate and manage #legacy systems and processes to stay #competitive. ?? Key lessons I learned during this journey: ? Customer-Centric Innovation: Directly addressing the customer pain points has been our North Star. ? Proactive Technical Debt Management: Create your roadmap by managing technical debt and innovation. Your P&L must reflect positive technical debt management or at least break even. ? Continuous Iteration: Break big features or #innovation into parts, allowing each stage to collect #feedback from users. ? Data-driven decision-making: We started following all data logs and user interactions to define our focus rather than relying on intuition alone. ? The word of your customer: A happy user is the best distribution channel. #Growth #Innovation #Agile #CustomerCentric #Leadership #SaaS
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