The role of a product manager is often referred to as a mini-CEO. Not only are you owning the product strategy but you are also working with many teams across the organization building to execute the product strategy. Working with many teams is fun but it can also be challenging. We’ll discuss how to be an effective product leader while building relationships and working in a cross-functional environment.
Today's Reforge case study looks at the marketplace growth dynamics behind RealtyShares, a real estate investment platform that recently raised a hefty Series C. Covering: 1. RealtyShares' supply-led growth and emergent network effect 2. How process-based efficiencies contribute to growth and defensibility 3. The company's strategy of aggregating the "long tail" of investment projects to open up new supply 4. Why moving upmarket is a requirement for RealtyShares to grow its monetization
Marketplaces are notoriously hard to start, but amazing if they work. In his six years at Airbnb, Jonathan Golden watched it scale over 100X on every metric: listings, users, revenue, employees, and, yes, sometimes complexity. He joined at an inflection point in the business, when the product was shifting from niche to early adopter, from a marketplace for air mattresses to a truly viable accommodation alternative. As the company boomed, they lived through many more inflection points, even existential challenges. But that creative, “we’ll get through this no matter what” attitude always got us through. This post summarizes the five biggest inflection points Jonathan witnessed, and the lessons learned from each.
<p>The 'Network Effect' is a phenomenon whereby a good or service becomes more valuable when more people use it. When a network effect is present, the value of a product or service is dependent on the number of others using it. Over time, positive network effects can create a bandwagon effect as the network becomes more valuable and more people join, in a positive feedback loop. This section will highlight techniques to achieve the critical mass required to achieve this effect and stories about companies that have successfully done it.</p>
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