Casey Winters Dives Deep Into Prioritization, Second Product Mishaps, Meta & Square
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*Optimizing Second Products: Take a portfolio approach *
Companies should approach optimizing their second products with a portfolio mentality, running multiple bets simultaneously to mitigate the high risk associated with product market fit. By adopting a portfolio approach, companies can focus on identifying the bets that are successful and allocate resources accordingly, rather than risking the failure of a single second product causing a setback in expanding product market fit. Just like a venture capitalist diversifies investments, companies should diversify their product bets to increase the chances of success in finding the right second product with product market fit.
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