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Sharad Goel

AMA: Homebase VP Product, Sharad Goel on Building 0-1 Products

August 2, 2023 @ 10:00AM PT

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  1. How do you prioritize various validated problems?

    Sharad Goel
    Sharad Goel

    Carta VP Product, Upmarket & Private Equity • 2y

    It depends on the product outcomes you are looking to drive based on your company goals. For e.g. if your NPS is really low then understand what is causing that NPS to be low and prioritize those. If your customers are churning then figure out why and prioritize that. If you have a lot of great capabilities but you are not making money then figure out whether you need to invest in repackaging and pricing. Every company has come combination of customer growth, retention, and monetization investme ...Read More

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  2. How do you project revenue for a product that hasn’t been shipped yet? Our leadership team wants to understand how fast it will grow.

    Sharad Goel
    Sharad Goel

    Carta VP Product, Upmarket & Private Equity • 2y

    If this is a brand new product (i.e no existing product in market) you can go the TAM route: Do a total addressable market (TAM) analysis - you can either use public sources or pay for private sources to understand the market size. Make sure you understand the specific segments in your TAM. Determine what market share you already have from that TAM. Determine how much additional market share you expect to have and in how much time. Based on your average sales price (ASP) you can then determine w ...Read More

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  3. What is the best way to get feedback to validate problems?

    Sharad Goel
    Sharad Goel

    Carta VP Product, Upmarket & Private Equity • 2y

    Talk to your customers. You should have a rhythm where every week/2 weeks you're talking to X customers. This will help you continuously evolve and solidify your understanding of the problems to solve.

    706 Views
    1 request

  4. How do you know when to invest in a second product and become a multi-product company vs innovating on your existing product?

    Sharad Goel
    Sharad Goel

    Carta VP Product, Upmarket & Private Equity • 2y

    This is based on a few things: Your strategy - are your customers going with integrated solutions? If yes your hand may be forced Market needs - sometimes the opportunity has a timing and you need to ride that curve otherwise you will be left behind Your existing product maturity curve - how much investment do you need to make in your existing product to grow it at the pace you want Your internal capabilities - do you have the people/cash flow to invest in this Assuming you are past your 1st pro ...Read More

    648 Views
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  5. I subscribe to the Ried Hoffman quote - “If You're Not Embarrassed By The First Version Of Your Product, You’ve Launched Too Late.” How do you actually live this out in a larger company where there is internal anxiety?

    Sharad Goel
    Sharad Goel

    Carta VP Product, Upmarket & Private Equity • 2y

    Ask your leadership/marketing team what gives them anxiety and then attack those points as part of your 1st launch. For e.g. if they are worried about bad PR then ask them how small a group are they comfortable launching to and then stick to a rollout number below that. Over time you will build the muscle.

    686 Views
    1 request