Neil’s Billion Dollar Mistake

[00:27] Today’s Topic: Neil’s Billion Dollar Mistake

[00:40] Kissmetrics was part of the mistake.

[01:05] Neil’s former partner broke down their mistake in a blog post on Product Habits.

[01:28] They built a product they thought was needed.

[01:40] They learned no matter what you build, people don’t want to pay for things.

[01:55] Version 2 required too much customization.

[02:40] They found people couldn’t get a lot of value out of their Google Analytics.

[03:05] Neil and his partner just needed to find what the gaps were, but it took them too long.

[03:50] Kissmetrics feel behind the crowd.

[04:10] They would often change directions, which was not a good idea and not great for the team.

[04:30] They should have executed quickly, but they didn’t or couldn’t.

[05:20] Neil thinks they made too many mistakes.

[05:30] The biggest issue was a class action litigation.

[06:00] They can only blame themselves.

[06:04] They spent too many years building the wrong product and didn’t know how to innovate.

[06:06] That’s it for today!

[06:17] Don’t forget to check out Single Grain for more info about our free live event in June.

Neil’s Billion Dollar Mistake | Ep. #1020