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Building your product strategy stack | Ravi Mehta (Tinder, Facebook, Tripadvisor, Outpace)

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Jan 19, 2023

Guest

Ravi Mehta

Ravi Mehta, co-founder and CEO of Outpace, previously held key product roles at Tinder, Facebook, and TripAdvisor. In this discussion, he reveals his product strategy stack framework that shaped Tinder's success. He contrasts product development in startups versus large tech firms and explores innovative strategies that drive user engagement in dating apps. Ravi also shares insights on the application of AI in coaching, enhancing productivity, and how it transforms the coaching landscape, making it more effective than ever.

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insights

INSIGHT

Startup Speed vs. Latency

Startups aren't necessarily faster than large companies, but have lower latency.
They can test ideas and change direction more quickly due to a tighter turning radius.

insights

INSIGHT

Conviction-Oriented Decisions

Startups should prioritize conviction-oriented decision-making over experimental approaches.
Early-stage companies lack the user base for reliable A/B testing, so informed decisions are key.

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ADVICE

Early-Stage Networking

Plug into an early-stage network if you aspire to found a company.
Join communities like Indie Hackers and connect with builders, investors, and freelancers.

Get the Snipd Podcast app to discover more snips from this episode

A Journey Through Tech: From Gaming to Product Leadership

03:46 • 3min

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From Corporations to Startups: Navigating Change

06:18 • 22min

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The Dynamics of Dating App Strategies

28:19 • 12min

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Uncovering the Impact of Product Design on Dating Experiences

40:30 • 2min

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Prioritizing Strategy in Product Management

42:26 • 24min

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Balancing Leadership in Product Management

01:06:00 • 6min

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AI-Enhanced Coaching: Tools and Insights

01:12:25 • 9min

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Hooked

How to Build Habit-Forming Products

Nir Eyal

In 'Hooked: How to Build Habit-Forming Products', Nir Eyal explains the Hook Model, a four-step process (trigger, action, variable reward, and investment) that successful companies use to create products that users engage with habitually. The book provides practical insights and actionable steps for building products that capture widespread attention and encourage repeated use without relying on costly advertising. Eyal draws on his research, consulting experience, and practical knowledge to offer a how-to guide that is accessible and valuable for understanding user behavior and designing engaging products.

Working Backwards

Insights, Stories, and Secrets from Inside Amazon

Colin Bryar

Bill Carr

Working Backwards provides a detailed look at Amazon's approach to culture, leadership, and innovation. The book is written by Colin Bryar and Bill Carr, who collectively have 27 years of experience at Amazon. It outlines the company's 14 leadership principles and how they are applied in practice, focusing on customer obsession, long-term thinking, and operational excellence. The book is divided into two parts: the first part explains the leadership principles and practices, while the second part includes case studies on the development of products like Kindle, Amazon Prime, and Amazon Web Services. The authors provide practical steps and insights that can be applied to any business, regardless of size or industry[2][4][5].

Ravi was previously CPO at Tinder, Product Director at Facebook, and VP of Product at Tripadvisor. Currently, he’s co-founder and CEO of Outpace, a coaching platform designed to help people reach their professional goals. In today’s podcast, we dive deep into Ravi’s product strategy stack framework and how it was used to develop a powerful strategy at Tinder. We also cover his other popular frameworks—the frontier of understanding and exponential feedback—and how both of them can help you grow in your career. We discuss the differences between building product at a startup versus a large tech company, and how Ravi has had to shift his mindset as he’s moved away from a product leadership role into a founder role. Finally, he shares a bit about how Outpace is using AI to amplify coaches and help make them more efficient and effective.

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Find the full transcript here: https://www.lennysnewsletter.com/p/building-your-product-strategy-stack

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Thank you to our wonderful sponsors for supporting this podcast:

• Merge—A single API to add hundreds of integrations into your app: http://merge.dev/lenny

• OneSchema—Import CSV data 10x faster: https://oneschema.co/lenny

• Miro—A collaborative visual platform where your best work comes to life: https://miro.com/lenny

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Where to find Ravi Mehta:

• Twitter: https://twitter.com/ravi_mehta

• LinkedIn: https://www.linkedin.com/in/ravimehta/

• Website: https://www.ravi-mehta.com/

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Where to find Lenny:

• Newsletter: https://www.lennysnewsletter.com

• Twitter: https://twitter.com/lennysan

• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

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Referenced:

Disclaimer: Lenny is an angel investor in Ravi’s company, Outpace

• Reforge’s Product Strategy Program created by Casey Winters and Fareed Mosavat: https://www.reforge.com/programs/product-strategy

• Matt Mochary on Lenny’s Podcast: https://www.lennyspodcast.com/videos/how-to-fire-people-with-grace-work-through-fear-and-nurture-innovation-matt-mochary/

• Indie Hackers: https://www.indiehackers.com/

• Everything Marketplaces: https://www.everythingmarketplaces.com/

• The Product Strategy Stack: https://www.ravi-mehta.com/product-strategy-stack/

• Balsamiq: https://balsamiq.com/

• Set better goals with NCTs, not OKRs: https://www.reforge.com/blog/set-better-goals-with-ncts-not-okrs

• Ravi’s product manager’s competencies framework: https://www.ravi-mehta.com/product-manager-roles/

• Hooked: How to Build Habit-Forming Products: https://www.amazon.com/Hooked-How-Build-Habit-Forming-Products/dp/0241184835/

• Working Backwards: Insights, Stories, and Secrets from Inside Amazon: https://www.amazon.com/Working-Backwards-Insights-Stories-Secrets/dp/1250267595

• Ian McAllister on Lenny’s Podcast: https://www.lennyspodcast.com/videos/what-it-takes-to-become-a-top-1-pm-ian-mcallister-uber-amazon-airbnb/

• The Ezra Klein Show podcast: https://podcasts.apple.com/us/podcast/the-ezra-klein-show/id1548604447

• Ezra Klein’s AI episode: https://podcasts.apple.com/us/podcast/a-skeptical-take-on-the-a-i-revolution/id1548604447?i=1000592835492

• Andor on Disney+: https://www.disneyplus.com/series/star-wars-andor/3xsQKWG00GL5

• Airtable: https://www.airtable.com/

• Superhuman: https://superhuman.com/

• Descript: https://www.descript.com/

• Outpace: https://www.outpace.co

• Unlock Your Product Manager Potential: https://www.outpace.co/guides/unlock-your-product-manager-potential

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In this episode, we cover:

(00:00) Ravi’s background

(04:24) Why Ravi left Tinder, and what he’s been up to recently

(08:05) Differences between working at an established tech company vs. a startup

(12:45) Why founders should network with “early-stage” folks

(14:29) Why you need to do some research and relationship-building before starting your company

(17:49) What the product strategy stack is and how to use it

(22:08) Mission vs. vision

(23:37) How Ravi developed his strategy framework at Tripadvisor

(26:43) Why PMs should understand design, UX, and UI

(28:20) Examples of the product strategy stack in action

(32:42) Why Tinder resisted adding filters

(34:10) Monetization features at Tinder and the “whales” who spend the most

(38:18) How customer feedback led to new features at Tinder

(42:28) Why goals come after roadmap in Ravi’s framework

(44:30) Tripadvisor’s strategy for increasing bookings

(47:25) How to set goals that drive outcomes

(50:24) The four buckets of the frontier of understanding

(51:38) Different methods for trying to hit goals

(53:08) Understanding why you hit or missed your goal

(54:34) The product management competencies framework

(1:02:08) The exponential feedback framework

(1:04:25) Why you should ask for feedback—and graciously accept it

(1:06:05) How to determine the right amount of leadership your team needs

(1:09:40) What selective micro-management is

(1:12:25) How Outpace uses AI to assist in coaching

(1:15:24) Lightning round

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