Uncertainty Matrix: How To Deal With Uncertainty (And Gain From It) + 9 Ways to Build Virality into your Product

Uncertainty Matrix: How To Deal With Uncertainty (And Gain From It) + 9 Ways to Build Virality into your Product

Uncertainty is a natural part of life. We are constantly faced with situations where we don't know what the outcome will be. Our brains despise uncertainty because it causes anxiety and stress. However, research has shown that uncertainty is even more stressful than knowing a bad outcome. So how can we better manage uncertainty and even gain from it?

One way to navigate uncertainty is by understanding the different types of knowledge. There are known knowns, which are things we know and are aware that we know. For example, you may be aware that you are good at managing people. Then there are unknown knowns, which are hidden knowledge. You may possess skills or talents that you are not even aware of. Discovering and tapping into this hidden knowledge can help you navigate uncertainty.

Additionally, there are known unknowns, which are risks that we are aware of. These are the risks that we can mitigate and prepare for. However, the most dangerous type of uncertainty is the unknown unknowns. These are risks that we don't even know exist. They catch us off guard and can cause the most harm. It is crucial to be prepared for these unknown unknowns.

So how can we better manage uncertainty and gain from it? One actionable advice is to challenge what we think we know. We should never over-rely on historical data or assumptions. By constantly questioning and challenging our knowledge, we can uncover new insights and be better prepared for uncertainty.

Another actionable advice is to discover our unknown knowns. This can be done through personal reflection and learning. By continuously seeking knowledge and self-improvement, we can unlock hidden talents and skills that can help us navigate uncertainty.

Mitigating known unknowns is also important. When we are aware of a risk, we should take steps to mitigate it. This can involve taking precautions, seeking advice from experts, or developing contingency plans. By being proactive, we can minimize the impact of known risks.

However, it is not enough to only focus on the known risks. We must also prepare for the unknown unknowns. One way to do this is by adding redundancy. By having backup plans or alternative options, we can be better prepared for unexpected events or risks.

Additionally, increasing our optionality is essential. This means creating flexibility and adaptability in our choices and actions. By having multiple options available, we can quickly pivot and adjust when faced with uncertainty.

Now, let's shift our focus to building virality into products. Virality is the ability of a product to spread rapidly through social networks and gain widespread popularity. There are several ways to build virality into a product.

One strategy is to create incentives for users to invite their friends and for their friends to accept the invite. By rewarding both sides, the chances of viral growth increase. LinkedIn is a great example of this. By prominently displaying the number of connections on a user's profile, they incentivized users to invite more people to connect with them.

Collaboration and communication tools have inherent viral qualities. When a product allows multiple people to collaborate or communicate, it creates additional value and encourages users to invite others to join. This is why apps like Slack and Google Docs have seen massive growth.

Another way to build virality is by allowing others to embed your product into their website. This not only creates exposure but also shows potential users the expected content and behaviors within your product. By integrating seamlessly into existing platforms, your product can reach a wider audience.

Social sharing is another powerful tool for virality. If your product generates interesting and shareable content, users can be encouraged to share it on their social networks. This spreads knowledge of your product to their network and can lead to exponential growth. Auto-shared content onto other networks has proven to be highly effective in achieving this.

Creating artifacts or URLs that are expected to be shared via messaging is another strategy. When your product provides a rich experience around the shared information, users are more likely to share it with others. Hotmail's signature line at the end of every email is a classic example of this. It helped Hotmail grow exponentially in its early days.

However, it's important to remember that virality alone is not enough. The quality of the product plays a crucial role in conversion and loyalty. Virality should be built into the core mechanics of the product from the start. It cannot be added as an afterthought.

In conclusion, managing uncertainty and building virality both require strategic thinking and proactive actions. To deal with uncertainty, challenge what you think you know, discover your hidden knowledge, and mitigate known risks while preparing for the unknown. To build virality, create incentives for users to invite others, allow embedding into websites, encourage social sharing, and provide a rich experience around shared information. By incorporating these strategies, you can navigate uncertainty and achieve viral growth for your product.