Picture this: a dimly lit room where velvet-robed figures gather in secret to make decisions of paramount importance as the fate of the pitches for the next product development cycle hangs in the balance.
The "betting table” – where the formalized pitches for each six-week work cycle are selected – might seem mysterious but we're about to unravel its secrets.
Listen in as host Kimberly Rhodes sits down with 37signals co-founders Jason Fried and David Heinemeier Hansson to explore the unique inner workings of the "betting table" and how this process shapes each product development cycle.
Tune in to discover 37signals' approach to selecting and refining projects at the "betting table."
Check out the full video episode on YouTube
Show Notes:
[00:00] - Today on the podcast, the discussion focuses on the betting table and how the decisions are made about which pitches are selected and which projects to schedule.
[00:42] - Jason shares what the betting table is.
[02:26] - The betting table process: refining pitches into a kickoff document.
[03:17] - David shares the background behind the betting table and how it has evolved.
[05:51] - The betting table: passionately advocating for different views, with one person ultimately making the decision.
[06:51] - Ensuring that resource allocation decisions are made efficiently while avoiding committee-driven decision-making.
[08:56] - Decisions made at the betting table can sometimes be passed to others who are more passionate or informed about a particular project.
[10:04] - It's all about timing—unselected pitches don't automatically get another chance in the next cycle, but if they are relevant, they might.
[10:51] - Jason shares his biggest issue with backlogs.
[11:33] - David shares why Shape Up is such a powerful way of working and how the betting table process provides multiple opportunities to influence product direction.
[14:38] - Jason shares how the assignment of team members works during the betting table to ensure that the available resources match the selected projects.
[15:49] - David shares the background behind aligning pitch budgets with available resources and calendars during the betting table.
[19:55] - Why so much of the betting table process is asynchronous and done via written communication,
[22:54] - When calls might need to happen during the betting table process.
[23:57] - For more background on how 37signals manages product development, get your free copy of the book Shape Up. It is available here.
[24:13] - Don't forget you can still enter #TheUnderdogChallenge by sharing the story of your scrappy team on the 37signals LinkedIn post here for a chance to be featured on a future episode of Rework. The deadline to enter is September 15. Rework is a production of 37signals. You can find show notes and transcripts on our website. Full video episodes are available on Twitter and YouTube. If you have a specific question for Jason or David about a better way to work and run your business, leave your voicemails at 708-628-7850.
Links and Resources:
Enter #TheUnderdogChallenge on LinkedIn
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