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The North Star Metric:
Delivering high value to your market is not just a matter of altruism; it’s genuinely the best thing you can do for your business. It’s far easier to acquire and retain customers with high-value products, you can charge more for them, and they keep competitors at bay. Many modern product companies understand this and consider growing value-to-customer their most important goal. That’s where the North Star Metric comes in. A North Star Metric (NSM) is a number that sums up the core value we deliver to the market. In the words of growth expert Sean Ellis, it’s your value footprint.
Evidence-Guided
Itamar Gilad
When a product trio is tasked with an outcome, they have a choice. They can choose to engage with customers, do the work required to truly understand their customers’ context, and focus on creating value for their customers. Or they can take shortcuts—they can focus on creating business value at the cost of customers. The organizational context in which the product trio works will have a big impact on which choice the product trio will make.
Continuous Discovery Habits
Teresa Torres
Don’t Jump Straight to Your Conclusions When preparing for a meeting with stakeholders, we tend to focus on our conclusions—our roadmap, our release plan, our prioritized backlog. More often than not, this is exactly what our stakeholders are asking us to share. Even in companies that espouse a focus on outcomes, we still tend to spend most of our time talking about outputs. The challenge with this approach is that our stakeholders often have their own conclusions. It’s easy to have an opinion about outputs. We all have our own preferences about how a product or service should work. When we anchor the conversation in the solution space, we encourage our stakeholders to share their own preferences. However, these preferences aren’t always grounded in good discovery. After all, it’s our job to do discovery, not our stakeholders’.
Continuous Discovery Habits
Teresa Torres
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