go your own way | the path of product company | wordcamp tampa 2014
DESCRIPTION
A brief look into the history of Virtuous Giant and IgnitionDeck. Lessons learned building and growing a product company in the WordPress ecosystem.TRANSCRIPT
Go Your Own Way The Path of a Product Company
Nathan Hangen
Nathan Hangen @nhangen
Psyop Sergeant Runner & Triathlete Coach Soccer Addict Brewmaster Entrepreneur
IgnitionDeck.com | @IgnitionDeck
2.5
5
7.5
10
2011
Launch
35
70
105
140
2011 2012
46x
35
70
105
140
2011 2012 2013
90% Product
100
200
300
400
2011 2012 2013 2014
200%
300
600
900
1200
2011 2012 2013 2014 2015
?
Generating Ideas
– Derek Sivers
“Ideas are a just a multiplier of execution”
Characteristics of a Successful Product
• Redefines an Existing Market
• 10x Improvement on Existing Market Leader
• Defines a New Market
• Fills a Gap in the Market
– Peter Theil
“The most successful businesses have an idea for the future that's very different from the present”
GYOW: We Build Products That Empower Entrepreneurs
Build Baby Build
– Mark Zuckerberg
“Move fast and break things. Unless you are breaking stuff, you are not moving fast enough.”
GYOW: Build for testing, not for perfection
Testing Product Market Fit
– Steve Blank
“No plan survives first contact with a customer”
Soft Launch
Shelving vs Killing
GYOW: Customer feedback is the only feedback that matters
– Jack Welch
“If you don’t have a competitive advantage, don’t compete”
Choosing a Model
Pricing
GYOW: Choose the Model that allows you to build a sustainable business
– Steve Jobs
“…there’s just a tremendous amount of craftsmanship in between a great idea and a great product.”
GYOW: The future of WordPress is independent from its history
We’re all making it up as we go along
– Morpheus
“There is a difference between knowing the path and walking the path”