'The chicken or the egg'

The Product farm

Which came first, the chicken or the egg? This metaphor is used heavily in business conversations, specifically when decisions have to be made. 

 

It’s a real dilemma: What should you consider the¬†cause and what should you consider the effect? And most importantly, why?¬†

  • Developing a feature vs having a pipeline for it
  • Balancing sides in a marketplace (like buyers and sellers)
  • If you build it, they will come

Let’s start with the only absolute truth: We have no idea what should come first.¬†

  • Clients will run as soon as you ask for money
  • You will never¬†have a perfect balance in a marketplace
  • Sometimes, they won’t come.¬†
This is okay. As I say, again and again, we have no crystal ball. 

At the end of the day, all of them are bets. You are risking money against a prediction of an unpredictable event. Isn’t it?

 

I want to ask another question: Does it matter what comes first? We are asking the wrong question.

  • What experiment can we run to increase the certainty levels?¬†
  • Which is the fastest route to learn something to help to make decisions to move forward?
  • How can we de-risk invest too much money in the wrong thing?¬†
  • How can we know what clients¬†actually want?
  • What is the best approach to validate our hypothesis?¬†
 

Welcome to Product Management.

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