A Flop or a Bull’s-Eye by Julia Weiper
As product managers, our job is to make the right decisions. However, as human beings, our decision-making is constantly impaired by systematic cognitive biases, making it really hard to decide objectively and rationally. For example, we look up to our most successful peers and are therefore biased to follow industry leaders such as Spotify, Soundcloud, or Google. This phenomenon is known as the “survivorship bias”.
In my talk at MTP Engage in Hamburg, I illustrate how following industry standards can jeopardize the success of your company. In the example of Freeletics, blindly copying the organisational structure of leading tech companies led us to a critical situation for the business towards the end of 2017.
After a rational analysis of the situation, we were confident enough to try an approach that was different from the rest of the industry. As a result, we restructured the entire product and engineering department and took some risky bets.
By giving concrete examples of our framework toolbox and of successful A/B test results, I explain how Freeletics managed to break the chains and return to a healthy business.
During this challenging and intense journey, I gained much valuable knowledge and a strong understanding of the importance of following your instincts and simply using your common sense, instead of blindly copying others. I want to invite my audience to challenge their way of thinking and to reflect more consciously on the accepted best practices of the industry.