Building your growth model and Ladder of Engagement: Unlocking the Potential of Your Product

Building your growth model and Ladder of Engagement: Unlocking the Potential of Your Product

In today's competitive market, it's crucial for businesses to not only have a great product but also a well-defined growth model and ladder of engagement. These two components are essential for attracting and retaining users, ultimately leading to the success of the product. But how exactly do you go about building these? Let's dive in and explore the key steps and considerations.

The core purpose of your product is the foundation on which your growth model and ladder of engagement are built. Understanding the problem your product solves for users is crucial in defining its purpose. By identifying this core purpose, you can effectively communicate the value of your product to potential users. This is often referred to as the "hook" - the reason why people become intrigued by your product in the first place.

Once you have a clear understanding of your product's purpose, it's time to break it down into specific skills or tasks that users need to understand to get the most out of it. This breakdown allows you to create a step-by-step journey for users, guiding them through the adoption phase of your product. Initially, focus on steps 1-4 to get people started. As they become more comfortable, you can introduce features and encourage them to approach step 5.

However, it's important to recognize that machines and humans have different strengths. While machines excel in areas such as storage, search, and scheduling, humans possess skills like conceptual understanding, intentional creativity, and deep empathy. As an entrepreneur, it's crucial to identify the domains where humans are more efficient than machines and leverage those strengths. Don't waste time and resources trying to compete with humans on their home turf.

To create a truly impactful product, entrepreneurs need to embark on the Idea Maze journey. This involves subjecting their business idea to a gauntlet of first- and second-order questions. By working through these questions, entrepreneurs can refine their ideas and uncover the global optimal product to create. Take inspiration from industry giants like Bezos and Musk, who started with a basic ground truth about the future and worked their way backwards to a non-obvious first product.

In the realm of artificial intelligence (AI), founders and VCs often recognize its transformative potential but struggle to identify the non-obvious first product. This is where Eigenquestions come into play. Eigenquestions are the smallest set of questions with a good branching factor that dictate all future questions and dominate product strategy. Shishir Mehrotra, the mind behind YouTube and Coda, coined this term to highlight the importance of asking the right questions in AI product development.

Now that we've explored the key components of building a growth model and ladder of engagement, let's discuss three actionable pieces of advice to help you implement these strategies effectively:

• 1. Clearly define your product's core purpose: Take the time to understand the problem your product solves and communicate its value proposition clearly. This will attract users who resonate with your purpose and increase their engagement with your product.

• 2. Break down the adoption journey: Identify the specific skills or tasks that users need to master to get the most out of your product. By creating a step-by-step journey, you can guide users through the adoption phase and ensure they are fully utilizing your product's features.

• 3. Embrace the power of Eigenquestions: When developing an AI product, ask yourself the smallest set of questions that dictate all future questions and dominate your product strategy. This exercise will help you uncover the non-obvious first product that leverages AI's transformative potential.

In conclusion, building a growth model and ladder of engagement is crucial for the success of your product. By understanding your product's core purpose, breaking down the adoption journey, and embracing the power of Eigenquestions, you can unlock the full potential of your product and drive user engagement. Stay focused, ask the right questions, and watch your product thrive in the competitive market.