The issue with primarily going for the low hanging fruit in the matrix is that you're not chasing the bets enough. They equally deliver value, but are harder and also need to be prioritised. Some developments are hard and do deliver good value and therefore are equally worth chasing.
If the goal is to deliver value, benefiting from what drives that fast is often a wise choice. Yet, I do not recommend neglecting bets; instead, I recommend balancing, knowing that bets may fail to drive value and that the costs are high. Balance is the key.
@@DavidPereira88 Agree. There's also an element of short term vs. long term goals. Low hanging fruit usually deliver ROI in the short term, while the bets have longer ROIs.
I'm glad you mentioned the gut feeling. It is always debatable how much you should rely on your gut feeling, especially when you are new to the product or industry. I personally like scoring methods like ICE/RICE because confidence has equal weight as the other criteria. Hippos also have a gut feeling, like every other stakeholder. The determining factor on what to tackle next could be a high confidence rate gained through previous learnings, user or market research.
Hey Laman, I perceive prioritization as a reflection exercise. What matters most now is what I want to focus on, and then identify opportunities to benefit from. Scoring methods are helpful but demanding and the numbers can distract us. Just be careful with that. The value matrix helps us have a conversation around the relevant metrics. Different than HiPPO approach, we can evaluate with more people and reason on it. The danger of HiPPO is the mindset, I want that done because I believe to be the right thing. That is insufficient as it doesn’t compare with other options. A bias towards action is what has helped me in this world.
@@DavidPereira88 for me the most important part was the reminder to keep thinks simple as prioritization is still a looot of gut feeling. You know it yourself: you are the sole PO, trying hard to keep the Product Vision running while everybody is coming up with requests... so while saying "no" almost all the time, you somehow try to find a way to organize the chaos, which can be time consuming... here a friendly reminder like "make it simple" helps to re-focus and invest time better :)
I guess your quadrant in min 6 is a bit incorrect. If stg is not easy to build & also doesn't promise that much impact, it is waste of time. hence, you need to replace reds and grey circles' positions in your quadrant imho.
@@DavidPereira88 I just watched this and came to comment the same thing as @erman… but then noticed you’re using “Easiness” instead of the more common “Difficulty” that we normally see on these graphs. If the X axis were difficulty, then you would need to swap red and grey… but should also have a swap between green and orange. With difficulty on the bottom you would get a reverse result of: High return, low effort=green High return, high effort=orange Low return, low effort=grey Low return, high effort=red
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The issue with primarily going for the low hanging fruit in the matrix is that you're not chasing the bets enough. They equally deliver value, but are harder and also need to be prioritised. Some developments are hard and do deliver good value and therefore are equally worth chasing.
If the goal is to deliver value, benefiting from what drives that fast is often a wise choice. Yet, I do not recommend neglecting bets; instead, I recommend balancing, knowing that bets may fail to drive value and that the costs are high.
Balance is the key.
@@DavidPereira88 Agree. There's also an element of short term vs. long term goals. Low hanging fruit usually deliver ROI in the short term, while the bets have longer ROIs.
🤣 I laughed loud on "if you want to fail, you prioritize based on this animal" 😂😂
I'm glad you mentioned the gut feeling. It is always debatable how much you should rely on your gut feeling, especially when you are new to the product or industry. I personally like scoring methods like ICE/RICE because confidence has equal weight as the other criteria. Hippos also have a gut feeling, like every other stakeholder. The determining factor on what to tackle next could be a high confidence rate gained through previous learnings, user or market research.
Hey Laman,
I perceive prioritization as a reflection exercise. What matters most now is what I want to focus on, and then identify opportunities to benefit from.
Scoring methods are helpful but demanding and the numbers can distract us. Just be careful with that.
The value matrix helps us have a conversation around the relevant metrics. Different than HiPPO approach, we can evaluate with more people and reason on it. The danger of HiPPO is the mindset, I want that done because I believe to be the right thing. That is insufficient as it doesn’t compare with other options.
A bias towards action is what has helped me in this world.
Thanks for the overview which was a important reminder :) helped me in my current situation!
Nice to hear from you Peter. Which part helped you?
@@DavidPereira88 for me the most important part was the reminder to keep thinks simple as prioritization is still a looot of gut feeling. You know it yourself: you are the sole PO, trying hard to keep the Product Vision running while everybody is coming up with requests... so while saying "no" almost all the time, you somehow try to find a way to organize the chaos, which can be time consuming... here a friendly reminder like "make it simple" helps to re-focus and invest time better :)
This is helpful. Thank you so much
Thank you 😊
Welcome :)
I guess your quadrant in min 6 is a bit incorrect. If stg is not easy to build & also doesn't promise that much impact, it is waste of time. hence, you need to replace reds and grey circles' positions in your quadrant imho.
Not really.
Easiness of implementation means how quickly you can implement. The more to the right, the quicker. Meaning that the beginning is hard.
@@DavidPereira88 I just watched this and came to comment the same thing as @erman… but then noticed you’re using “Easiness” instead of the more common “Difficulty” that we normally see on these graphs.
If the X axis were difficulty, then you would need to swap red and grey… but should also have a swap between green and orange.
With difficulty on the bottom you would get a reverse result of:
High return, low effort=green
High return, high effort=orange
Low return, low effort=grey
Low return, high effort=red
This is a great channel. I wish i had found it before. Thank you David...so very insightful and helpful.
Great video!!
Thanks Sahil. Which part did you enjoy the most?
@@DavidPereira88 I like the matrix technique very much!!
@@sahils007in Cool! I am happy to know it.