Business & Product Strategy
Duplication
The ability to reproduce a useful artifact, offering, or output with sufficient consistency
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Business & Product Strategy
Experiment, Feature, Platform
A product-development distinction among work intended to answer a question, work intended to provide an ongoing user capability, and work intended to support multiple capabilities
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Fear, Uncertainty, and Doubt
Fear, uncertainty, and doubt, often abbreviated FUD, names communication that raises apprehension about an option, commonly in competitive contexts
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First-mover advantage vs First-mover disadvantage
A comparison of benefits and costs associated with entering a market earlier than rivals
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Flywheel
A business metaphor for cumulative, reinforcing progress through repeated aligned effort
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Freemium
A business model that provides a basic offering without a monetary charge while charging for additional features, capacity, service, or access
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Freeroll
A term borrowed from games and used informally for an opportunity with favorable upside and little or protected downside
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Friction and Viscosity
Physical friction concerns resistance between contacting surfaces, while viscosity concerns a fluid’s resistance to deformation and flow
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Hassle Premium
A practical pricing idea: people may pay for an offering that reduces time, effort, uncertainty, coordination, or inconvenience around a desired result
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Hook Model (Habit Loop)
Nir Eyal’s product-design framework describing a cycle of trigger, action, variable reward, and investment
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Hype Cycle
Gartner’s framework for describing technology expectations and maturity through an innovation trigger, inflated expectations, disillusionment, enlightenment, and productivity
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Incremental Degradation
A pattern in which small changes accumulate into a meaningful decline in quality, reliability, or alignment with an intended standard
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Innovator's DNA (Discovery Skills)
Dyer, Gregersen, and Christensen identify associating, questioning, observing, networking, and experimenting as discovery skills in their research and practitioner framework
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Iron Law of the Market
A strong practitioner warning that a venture needs sufficient demand for what it can actually deliver
Product & GrowthBusiness & Product Strategy
Iteration Cycle
An iteration cycle links an attempted change, observation, and a decision about what to do next
Product & GrowthBusiness & Product Strategy
Jobs To Be Done
Jobs to Be Done examines the progress someone seeks in particular circumstances and how they choose products, services, or other ways to make that progress
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Key Failure Indicator (KFI)
A key failure indicator is a chosen measure intended to warn of a specific undesirable outcome or emerging process problem
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Key Performance Indicator
A key performance indicator is a measure selected to help assess an important objective
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Luck Surface Area
Jason Roberts's Luck Surface Area is a heuristic linking doing useful or interesting work with telling relevant people about it
Product & GrowthBusiness & Product Strategy
Minimum Viable Product
An MVP is a version or arrangement designed to obtain useful learning about a new offer with limited effort
Product & GrowthBusiness & Product Strategy
Modularity
Modularity organizes a system into components whose interactions are governed by defined interfaces, aiming to limit the reach of particular changes
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Most value is created after version one
A product-management maxim encouraging teams to learn from actual use and improve after an initial release
Product & GrowthBusiness & Product Strategy
Multiplication
In Josh Kaufman's business usage, multiplication means reproducing an entire process or operating system so it can deliver value in additional instances
Product & GrowthBusiness & Product Strategy
North Star Metric
A North Star metric is a central product measure intended to represent delivered customer value and guide coordinated decisions
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Nuclear option
A nuclear option is a colloquial label for an extreme action that could fundamentally change or end an arrangement
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OKRs (Objectives and Key Results)
Objectives and Key Results connect an intended change with observable results over a defined period
Product & GrowthBusiness & Product Strategy
Open Platform vs Closed Platform
Platform openness concerns which participants can use, extend, provide, or govern a platform and under what conditions
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People Love
A practitioner emphasis on creating an experience some users value strongly
Product & GrowthBusiness & Product Strategy
Perceived Value
Perceived value is a person's assessment of what an offering provides relative to what they give up, informed by circumstances, expectations, alternatives, and experience
Product & GrowthBusiness & Product Strategy
Product-Market Fit
Product–market fit describes a product serving meaningful demand in a particular market
Product & GrowthBusiness & Product Strategy
Prototype
A prototype is a representation or preliminary implementation used to investigate selected aspects of an idea
Product & GrowthBusiness & Product Strategy
Relative Importance Testing
Relative-importance approaches use structured comparisons to study preferences or judgments under tradeoffs
Product & GrowthBusiness & Product Strategy
Return On Investment
ROI commonly expresses net benefit relative to an investment cost as a percentage over a stated period
Product & GrowthBusiness & Product Strategy
Reversible vs. Irreversible Decisions
A decision heuristic distinguishing choices that can be changed at acceptable cost from those with consequences that are difficult to undo
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S-Curve of Innovation / Technology
An S-curve is a pattern of initial slow change, acceleration, and later slowing that can describe some technology-performance or adoption histories
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Secrets
In Peter Thiel's practitioner framing, secrets are valuable possibilities or truths that are overlooked or not widely accepted
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Shadow Testing
A practitioner approach to testing interest in a prospective offer before fully developing it
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Solve the Whole Customer Experience
A service-design principle that examines the user's complete task, including steps before, during, and after interacting with a particular product
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Sphere of Influence
A sphere or circle of influence describes outcomes a person may affect through available actions, relationships, or authority, distinguished from everything they care about
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Strategic Acquisition vs Financial Acquisition vs Aquihire
Acquisitions may pursue strategic capabilities or market access, financial returns, recruitment of a team, or a combination
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Strategy vs Tactics
Strategy combines an understanding of a challenge with a guiding approach and coordinated action
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Sustainable Competitive Advantage
A sustained competitive advantage is a value-creating difference whose benefits competitors cannot readily duplicate or substitute under relevant conditions
Product & GrowthBusiness & Product Strategy
Sustainable Growth Cycle
A growth cycle links current activity to an output that can help create further activity, such as referrals, discoverable contributions, or reinvestment
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Switching Costs
Switching costs are prospective costs of moving from one option to another, including migration, learning, coordination, and relevant financial consequences
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Systemization
Systemization makes suitable recurring work more repeatable and transferable through clear responsibilities, instructions, resources, checks, and exception handling
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Technology Adoption Lifecycle
The technology adoption lifecycle uses idealized categories of relative adoption timing, drawing on Rogers's diffusion work
Product & GrowthBusiness & Product Strategy
The Problem Hypothesis
A problem hypothesis states a provisional claim about who encounters a difficulty, in what circumstances, and with what consequence
Product & GrowthBusiness & Product Strategy
Throughput
Throughput is the rate of acceptable output from a defined system
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