Also contributed in foundation:
Sergey Lytkin, Nika Atamaniuk and Natalya Eismant
Sergey Lytkin, Nika Atamaniuk and Natalya Eismant
How to make product and business decisions based on metrics
Your decisions cost money and time for a company. Only 1 decision out of 10 leads to business growth. The highest tier people in the industry make decisions based on metrics and customer behavior. This profession is called Product Manager.
Product Heroes. Product course by Ilya Krasinskiy.
Product decisions are expensive
It seems common that an idea or hypothesis costs nothing. It is a widespread profusion. Fast-working team proceeds about 2-4 hypotheses in a month. Such team could cost us from 300 000 to +4 million rubles a month. Otherwise, the one hypothesis test cost spreads between 150-1 million rubles.
We call teams that make decisions like on the graph on the right as “Brownian veterans”.
The product world is a world of ambiguity.
The product world is a world of ambiguity.
9 out of 10 hypotheses would not only positively impact our product, but either waste money and time. Hereby, now the price of one working idea increases to 1.5-10+ million rubles. And it takes us about 2-5 month of time. In practice evaluation of this process usually shows that it could be far more time taking and expensive.
The decisions of a qualified product manager are more successful and cheaper
Before the hypothesis being tested the product manager estimates its impact on business growth. Knowing metrics and economics shows that up to 70% of ideas in practice appear to be useless.
Moreover, it helps us to discover the parts of a product where lesser improvements of metrics would bring some crucial results.
The team goal is to find as many working hypotheses as possible in a short period of time.
This approach is called Data-Driven Decisions. The market leaders apply to this approach.
Our goal is to discover the root causes and when they are solved we receive the greater effect with minimal costs. That means whe must stay focused ;)
Ilya Krasinskiy
founder & CEO
Rick.ai and Heroes.camp
Rick.ai and Heroes.camp
“
To develop product skills and techniques average product manager should launch 3-5 products
Good product manager has a bunch of tricks and features which help to estimate the effect of his decisions. To develop product skills and techniques the product manager needs to launch about 3-5 products.
Frankly speaking, our brain is a kind of a neural network. We all know that neural networks are trained on samples with feedback given.
The real practice reveals the best way for teaching product managers — it is the case studies. It allows product managers to stuff their bumps on someones cases, but not on theirs, without any harm.
One case takes
product manager about 1.5-2 years
product manager about 1.5-2 years
That takes product manager 5-10 years to study
That is why there is a lack of product managers and why they are so appreciated
Lectures don't work. Product manager requires practice
The market teaches product managers stuffing them with theory and life stories. Their lessons are commonly just lectures and the practice usually goes as their homework.
«We could learn how to count the confidence interval ourselves reading the article.
Nika Atamanuk
Entrepreneur, product manager, leading tracker
But at home they have a rest and time to spend with their family. Homework often is undone and the skill is unformed. But the most important thing while study is case solving. Making mistakes, drawing results, and acquiring skills.
The most curious, the most significant queries occur while we process cases. After performing such activity the theory becomes no longer abstract. You know exactly where and when your skills should be applied.
But if we are willing to make product decisions, we need to have case practice with the team and mentor.»
How do we collect cases?
Through last 8 years we processed product decisions of 30% leading product companies in Russia and about 500 start-ups of IDFF, Yandex, and Alfa.Camp.
It is a real situation from the real business on its different development stages and different product employments.
C1 conversion growth and activation
You get more than 20 cases during the course. You explore how music and reading clouds, SaaS and lead generation services, marketplaces and online shopping spheres, and some others are made.
You would find out with the help of numbers how this or that type of product is packed. The way cases are designed helps us to go through all the main growth points:
Case
AMPPU growth: repurchase growth, conversion C2 and C3 growth
average revenue per paying user growth according to price segmentation
user or lead acquisition and cutting acquisition costs per lead or user
new buyers cohort revenue growth
buyers from old cohort churn rate decrease
Tue 13
1,5 hours
from 6 pm
to 7:30 pm
from 6 pm
to 7:30 pm
Networking session
Bonus trial
You meet other Heroes online in the format of speed dating. You will find useful contacts, present yourself and help others with your expertise
February
Thu 15
3 hours
from 6 pm
to 9 pm
from 6 pm
to 9 pm
How to count AMPPU, AMPU and making decisions about economic convergence
Zero trial. Preparation
You meet with your team and have a practice calculating key unit economics metrics for different business models. And also you train predicting the convergence of the economy when certain metrics are changing.
February
Sat 17
3 hours
from 11 am
to14 pm
from 11 am
to14 pm
Online-workshop. The Money Economy
1st trial
We will talk about unit economics, metric shoulders, multiple growth, cohorts and hypotheses. All this will be supplied with a dozen of real cases.
February
Tue 20
3 hours
from 6 pm
to 9 pm
from 6 pm
to 9 pm
How to diagnose business bottlenecks and search growth points
2nd trial
You count the unit economy, make diagnostics and find growth points. Your task is to determine the metrics and formulate hypotheses which lead to the goal of the case.
February
Thu 22
3 hours
from 6 pm
to 9 pm
from 6 pm
to 9 pm
How to make, evaluate and prioritize hypotheses
3rd trial
Complicating the cases! You calculating the unit economy, making diagnostics, searching for growth points and making product hypotheses. Your task is to learn how to formulate and evaluate hypotheses, compare them with each other and form a product development roadmap.
February
Sat 24
3 hours
from 11 am
to14 pm
from 11 am
to14 pm
Online workshop. The Attention Economy
4th trial
Cases about activation, 1st session, benefits and taxes for users.
February
Tue 27
3,5 hours
from 6 pm
to 9:30 pm
from 6 pm
to 9:30 pm
How to get metrics
from Google Analytics and predict future by cohorts
from Google Analytics and predict future by cohorts
5th trial
In this lesson you learn how to get unit economy data from Google Analytics using the Spreadsheets plugin without an analyst. You learn about cohort analysis and have some practice in forecasting revenue by cohorts.
February
Thu 29
How to conduct the corridor tests, receive and give feedback
6th trial
You build a Customer Journey Map via Figma, get the skill of hypotheses quick-test and design with the help of corridor tests. Look at your product from your user point and come up with a new list of hypotheses. For 2 hours of lesson you will see how much money you can save by testing hypotheses with corridor tests.
February
3 hours
from 6 pm
to 9 pm
from 6 pm
to 9 pm
How to define benefits and taxes in texts. How to identify the key benefit of the product and write headlines based on it
8th trial
You practice determining the benefits and taxes for users on the landing page of a real company. Calculatein the percentage of landing profitability. Based on the custdev and segmentation data, you formulate the benefits for the client of this service and write new texts based on them.
3 hours
from 6 pm
to 9 pm
from 6 pm
to 9 pm
Tue 5
March
Thu 7
3 hours
from 6 pm
to 9 pm
from 6 pm
to 9 pm
How to make the CJM of operational processes, calculate COGS, simplify the process and reduce costs
9th trial
You build the operational processes CJM yourself, find a bottleneck in it and make hypotheses on how to expand it in order to get a multiple growth.
You segment users by price and calculate the negative churn rate.
You segment users by price and calculate the negative churn rate.
March
Sat 9
4 hours
from 11 am
to 15 pm
from 11 am
to 15 pm
Rewarding Heroes ⭐
And also broaden our horizons by solving cases of other Heroes
And also broaden our horizons by solving cases of other Heroes
10th trial
We analyze the cases of the Heroes: you prepare a case, calculate growth points, generate hypotheses, and we analyze it with the rest of the Heroes and give our feedback.
March
Sat 2
7th trial
We will build a product manager CJM and talk about interrupted game loops
March
3 hours
from 11 am
to14 pm
from 11 am
to14 pm
Online workshop. Building a product manager CJM
Professional persuasiveness is important for a product manager
You are working with other people, debating, defending your hypotheses. And the victory stands not always by the right once. But for those, who sound more persuasive in defending their ideas and suggestions.
Therefore, on the course you use the numbers to show the ground of your decisions and defend them to other students and educators.
You are learning how to augment your product development position for people who are not supposed to get on well with analytics, product management, marketing, customer behavior, and segments.
Cases from different product managers for the last 8 years are presented on the course
The base for our course is skill studies. That means that product managers are teached on cases. Each case is a real situation from a real business.
But the 4 weeks study result with real cases are bestened skills , such as business diagnostics, growth points discoverage, and evaluation of product hypotheses based on metrics.
Searching and solving cases for skill studies is more time taking and more difficult than giving a series of lectures. We had 10 years of studies and 4 months of structurising this course before it came into release.
To get these skills, a product usually needs to participate in creation of 2-3 products. This takes him several years.
By the course graduation your neural net is improved and the skills are honed. These skills are pretty enough to enter the profession.
Practicing product managers are structurising their knowledge, filling in the gaps, widen their horizons, and mastering new tricks from different types of businesses.
People from this companies are already Heroes:
The course starts on February 13th, 2024
and ends on March 9th, 2024
and ends on March 9th, 2024
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Or contact us via team@heroes.camp. We will reply in 1-2 days.
Product Heroes
Product course by Ilya Krasinskiy. Thanks for participating in the foundation: Sergey Lytkin, Nika Atamaniuk and Natalya Eismant!