The Surprising Science of How Feelings Help You Think: The Time Value of Shipping

The Surprising Science of How Feelings Help You Think: The Time Value of Shipping

In the world of decision-making and product management, there are two seemingly unrelated topics that actually have a lot in common: emotions and shipping. Emotions, once thought to hinder effective thinking, are now recognized as essential in shaping our decisions and actions. Similarly, shipping imperfect products in a timely manner is crucial for product managers, as customer use and satisfaction matter more than perfection. Let's dive deeper into these concepts and explore their commonalities.

Emotions, far from being counterproductive, are an integral part of our rational thinking. Rather than viewing the rational mind and the emotional mind as separate entities, we should understand that emotions play a significant role in our decision-making process. Emotions are not distinct from one another; they overlap and interact. They serve as a functional state of the mind, guiding us towards specific actions or influencing our immediate responses. Acknowledging our emotional state can help us make more informed decisions and revisit them later when we are in a different emotional state.

However, it is important to be aware of emotional contagion, especially in the realm of media. Certain media outlets, like Fox News, capitalize on fear and anger, knowing that these emotions draw people in and keep them engaged. This shared emotional experience can shape our perceptions and impact our actions. It's crucial to develop a raised consciousness about our own minds and emotions, allowing us to navigate the influence of external factors more effectively.

Now, let's shift our focus to the concept of shipping in the context of product management. "Shipping is a Feature" is a core principle for product managers, emphasizing the importance of delivering an imperfect product to customers rather than striving for perfection. The Time Value of Shipping is a framework that aligns with this principle, highlighting the significance of delivering customer value promptly.

The framework draws parallels with the time value of money. Just as one dollar today is worth more than one dollar tomorrow due to inflation, delivering customer value now holds greater significance than delivering it later. As time progresses, customer expectations of a product tend to rise, making it essential to account for inflation in user expectations. To meet these increasing expectations, the eventual product needs to be significantly better.

The trajectories of customer expectations and value curves showcase the impact of time on product delivery. Customer expectation growth accelerates over time, fueled by the availability of substitute products and the potential for customers to switch. On the other hand, the value curve plateaus, indicating that the value a product offers becomes relatively stable after a certain point.

This dynamic relationship between customer expectations and value highlights the importance of shipping in a timely manner. Delaying a product launch poses the risk of falling into the "gap of doom," where a company struggles to keep up with industry innovation and fails to meet customer expectations. It is crucial to identify the optimal time to ship, considering both the alignment of the curves and the potential network effects that come with a launch. Sometimes, holding off on an MVP launch, even if it meets expectations, can be the optimal course of action.

So, what actionable advice can we take from these insights?

1. Embrace the role of emotions in decision-making: Recognize that emotions are not counterproductive but rather essential in shaping our thinking. Develop a raised consciousness about your own emotional state and make informed decisions based on that awareness.

2. Prioritize customer value and timely delivery: As a product manager, focus on delivering value to customers promptly. Understand the time value of shipping and account for the inflation of user expectations. Aim to meet and exceed these expectations by continuously improving your product.

3. Strategize your product launch: Determine the optimal time to ship your product, considering the alignment of customer expectations and value curves. Be mindful of the diminishing returns of network effects after the initial launch push and leverage virality to maximize the impact of your product.

In conclusion, the surprising science of how feelings help you think and the time value of shipping share common points that highlight the importance of emotions and timely product delivery. Emotions are integral to our decision-making process, and acknowledging their influence can lead to more informed choices. Similarly, shipping imperfect products promptly is crucial for product managers, as it allows for customer use and satisfaction while accounting for rising expectations. By understanding these concepts and implementing the actionable advice provided, we can enhance our decision-making abilities and drive successful product launches.