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break large problems into smaller chunks Frameworks
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💡 Explain how you’ll approach it (signposting):
First I would like to talk about the product landscape and motivation for this product
Then I’m going to take some time to think about the people who may use this product and identify segments. Then pick one of those segments that I think we should focus on.
Then I’d like to brainstorm some problems that people in this segment experience according to their journey that we’ll map out.
Then I want to pick one of those problems and come up with solutions for how we could solve that problem and narrow in on one that we want to proceed with an initial test for.
Then describe how that solution may manifest.
And lastly we’ll discuss how would we know we’ve built something people want and is generating value for the business
💡 Check in with the interviewer often:
How does that sound? Good to move to {next step}?
💡Take time to structure your thoughts at the beginning of each step
💡Recap
Keep scope narrow - for each part have 3 e.g. segments and prioritise using 2 criteria 💡State assumptions instead of asking clarifying questions Saves time, shows thinking, they will correct you if not aligned Product landscape and motivation (2-3 min) Motivation, why this product matters, in basic human language tied to the ecosystem if exists Bring in emotional - why this exists Determine target audience and prio (10 min) Who are the types of people who could potentially use this product Problem Identification x3 and Prio (10 min) Solution development x3 and Prio (10 min) How do we know we’ve built something people want and is generating value for the biz? Clarify the conditions and the goal Why we want to build this (strategic context)? What goal are we trying to achieve? (marketshare/revenue growth/retention/engagement) Frame the context (mission, goal) mission - only if the company has a strong one goal, if need to pick one Early stage - PMF / growth Mature - engagement / retention / profitability Gen-Z/Generation-Alpha - 10-20+ years. Digitally connected. Very tech savvy. Pragmatic. Strong reliance on influencers. Crave fast dopamine. Can give a lot of views/eyeballs, but have the lowest average check. Millenials (Middle-aged) - 30-40+ years. Digitally educated. Opened to change. Prefer to solve tasks by themselves instead of relying on somebody else. Have one of the highest average checks. Boomers (Seniors) - 50+. Low to non-techy. Slow to embrace change. Strong work ethic. Trust and rely on authorities etc. By Intent (what do they want to achieve? (JTBD) Segment selection by reach and impact Hard value - money, time, access Soft value - quality, convenience, usability Level of pain / impact (how severe is the problem) Does it align with the goal/mission constraints spectrum: safe, bet, moonshot Prioritisation (effort / impact, mention it can develop overtime) acquisition/activation, engagement, retention Direct metrics - measure the feature Summary - in reverse order / Press release / Narrative JK’s hard/soft value prop Pricing
User
(Value Prop - Competitor Value Prop) -
(Price - Competitor Price) > Switching Cost Business (unit economics)
Price = Costs + 5% Profit + Moat Premium Channel
(Price/Churn) / CAC > 3
or (in other words) LTV / CAC > 3 What is the problem we are trying to solve? What is the size of the target population and how often do the experience the problem? How severe is this problem, is there a workaround? What is the business value of solving this problem? (in n-way markets) what is the value to other sides? (in n-way markets) CX of other sides? Direct metrics - measure the feature Deployment plan - When and where Stakeholders - Who needs to be involved / consulted / informed? Business case framework (Bolt) Where to play - Sizing the opportunity - TAM / SAM How to win - what makes us uniquely positioned to win, what are our moats, the value proposition? What is the underlying Business model? ROI (in NPV) and payback / impact
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