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#24 Scaling Durable Product Advantages | Mads Johnsen | Slush 2023
Discover how to scale durable product advantages and achieve early success in your company, by understanding what features to prioritize, what metrics to track, and how to avoid distractions.
- Product features must be designed to solve a specific customer problem, not just to check off a “features list”.
- Durable product advantages are built early on and are difficult to catch up on, such as proprietary IP, strong brand, or established customer base.
- It’s easy to lose focus on velocity and speed in the early stages of a company, but this is critical for success.
- Distractions can come from customers, investors, or competitors, and it’s essential to prioritize and focus on the most important things.
- The.metric that matters most is the one that gives you an early indication of success, and this is often difficult to identify.
- Companies that have built durable product advantages have often started with a narrow focus on a specific customer problem, rather than trying to be everything to everyone.
- It’s not about being first to market, but about being best at solving a specific customer problem.
- Speed is critical in the early stages of a company, and this means avoiding distractions and maintaining focus.