Harvard i-lab | Startup Secrets: Building Products Into Companies - SLIPPERY Products

TL;DR

This content provides insights on building slippery products, emphasizing the importance of simplicity, low initial cost, playing well with others, and proving value quickly.

Transcript

i'm really briefing my background i'm a technologist i was an mit guy in fact bob reminded me of uh when i was gosh when i was at mit i was doing a project at the media lab in probably uh probably 98 something like that uh and one of those earliest revisions of of sensible the haptic machine i used in a project creating virtual musical instruments ... Read More

Key Insights

• 👤 Simplicity in a product does not mean easy, but rather involves solving complex problems to create an easy user experience.
• 😘 Building a modular system and focusing on core competencies can result in a low initial cost and upsell opportunities.
• 🤗 Playing well with others through open standards and APIs can attract partners and expand your product's reach.
• 😒 Easy-to-use products that integrate seamlessly into existing workflows can retain and attract customers.
• 👍 Proving the value of your product quickly through analytics and ROI metrics is crucial for success.
• 🧑‍💻 Understanding and learning from successful tech companies that sell developer tools can provide valuable insights for building slippery products.
• 🤑 Saving time and money for customers through technology can result in a positive ROI and increased customer satisfaction.

Questions & Answers

Q: What does it mean for a product to be "simple"?

Simplicity does not mean easy. It means solving complex problems underneath the surface to make the product easy to use for customers. For example, Apple had to solve engineering challenges in order to create the simple user interface of the iPhone.

Q: How can low initial cost be key to success?

Having a low initial cost can attract customers and encourage them to try your product. However, it is important to have a clear monetization strategy in place to ensure long-term success.

Q: How can playing well with others benefit a product?

Building with open standards and APIs allows your product to easily integrate with other tools and services. This can attract customers and vendors who want to work with your product, leading to growth and success.

Q: Why is proving value quickly important for a product?

Proving the value of your product quickly through analytics and ROI metrics can attract and retain customers. It also allows you to identify areas where you can save customers time and money, making your product indispensable.

Summary & Key Takeaways

• Building slippery products involves understanding and implementing strong product development strategies.

• Getting native and making your product a natural extension of what users already do is crucial for non-disruptive adoption.

• Learning from successful tech companies that sell developer tools can provide valuable insights for building slippery products.