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13 Oct, 5 tweets, 2 min read
This week's post (for paid subscribers): Moving from IC Product Manager to manager of Product Managers

Inside:
✅ Unexpected jobs of a PM manager
✅ Ways to get promoted to PM manager
✅ Tips for being successful as a PM manager

Summary in thread 👇
lennyrachitsky.com/p/moving-from-…
1/ Top 5 unexpected jobs of a PM manager:
✋ Stopping stupid sh*t from happening
🪓 Unblocking, unblocking, unblocking
👐 Preserving (and improving) the PM team quality bar
🧐 Preserving (and improving) the product quality bar
🤝 Building a strong and united leadership group
2/ Top 5 ways to get promoted to PM manager:
👏 Demonstrate that you can lead people
📈 Demonstrate that you can deliver
🧘‍♀️ Demonstrate that you can handle complexity
👌 Demonstrate that you develop a winning vision and strategy
☝️ Ask for it
3/ Top 5 tips for being successful as a PM manager:
🏗 It’s all about increasing the leverage of your team
🤫 It’s more about teaching than doing
😁 There are many ways to do the job
🤝 It’s essential to bring everyone along
🥳 You don’t have to get into management
4/ Much more in the full post
lennyrachitsky.com/p/moving-from-…

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More from @lennysan

Lenny Rachitsky Profile picture
8 Oct
As someone working on growth at Airbnb, I've always been fascinated by Booking.com –– a tiny startup in the Netherlands that became one of the greatest acquisitions of all time through world-class growth.

Read on for rare insights into their early growth strategy 👇 Image
1/ Their performance marketing team drove their supply strategy

"When paid marketing is just a function, optimizing campaigns in a cubicle, it doesn’t inform the rest of the business and the funnel doesn’t work. There just isn’t much you can do to optimize paid ad campaigns." Image
2/ The performance marketing team was only two people, even past $100m/year spend

"It was actually only two guys: one banker and one coder. Peter (the banker) was extremely competitive. He would scream and shout when he was losing his #1 position." Image
Read 7 tweets
Lenny Rachitsky Profile picture
7 Oct
Looking back at the most successful consumer startups of the last 10 years — most companies achieved initial scale by excelling at just one of three growth "lanes":

1. Performance marketing (e.g. FB ads)
2. Virality (e.g. WOM, invites)
3. Content (e.g. SEO)

👇 Read on 👇
1/ There are other tactics to boost growth (e.g PR, conversion, brand marketing), and other growth lanes (sales and partnerships), but these three lanes have been the only reliable paths for long-term and sustainable consumer business growth.
2/ Why are there so few ways to grow? Because there very few ways for people to find out about new products. You hear about it from a friend (i.e. virality), you come across it while doing something else (i.e. content, perf marketing), or you get contacted directly (i.e. sales).
Read 25 tweets
Lenny Rachitsky Profile picture
30 Sep
The clearest sign of finding product-market fit is feeling "pull" from the market.

But what does "pull" look like?

👇 Read on 👇
1/ Sign 1: A sudden inflection in organic growth

Netflix: "Where before we were struggling to get traffic, all of sudden we couldn’t keep up." - @mbrandolph

Tinder: "Downloads started to skyrocket" – @badeen

Uber: "Word of mouth was uncontrollable" – @ryangraves
2/ Sign 2: Customers ask to pay for the product before you ask

Carta: "I've been trying to get to your sales people for weeks!!! Why won't you take my money???" – @henrysward

Github: "To our surprise, users started writing to us asking ‘Can we pay for this??’" – @mojombo
Read 11 tweets
Lenny Rachitsky Profile picture
29 Sep
🔥 New post: The moment 25 of today's most interesting companies realized they found product-market fit

Stories from @netflix @Uber @Airbnb @Superhuman @SubstackInc @Tinder @Instacart @stripe @Dropbox @datadoghq and many more

Takeaways in thread below 👇
lennyrachitsky.com/p/what-it-feel…
1/ The three most common signs of finding PMF:

🔥 Sudden and significant pull from the market
🎢 Gradual but compounding pull from the market
🥳 Hitting a meaningful milestone that proves the idea is working
2/ What market "pull" looks like:

✔️ An inflection in organic growth
✔️ Customers ask to pay before you do
✔️ Users flip from being excited about what you have to mad about what you don’t
✔️ People using the product even if it’s broken
✔️ Complaints when you're down
✔️ Low churn
Read 19 tweets
Lenny Rachitsky Profile picture
15 Sep
This week's post (for paid subscribers): When to hire your first product manager 🥇

Inside:
1. Why PMs are great
2. Signs you need a full-time PM
3. What to look for in your first PM
+ much more

See thread for some nuggets 👇
lennyrachitsky.com/p/when-to-hire…
1/ The evolution of the Product Manager function at most startups Image
2a/ The 3 jobs of a Product Manager:

1. Shape the product: Harness insights from customers, stakeholders, and data to prioritize and build a product that will have optimal impact on the business

2. Ship the product: Ship high-quality product on time and free of surprises
... Image
Read 9 tweets
Lenny Rachitsky Profile picture
12 Sep
Nerding out on @bessemer's Seed/Series A memos. Some takeaways:

1. All companies had competition
2. Many had middling growth rates BUT it all came from organic/WOM
3. All had great differentiated products

More in thread 👇
bvp.com/memos
1/ Pinterest at Series A:

✅ Great product
✅ Hockey-stick growth (DAU + growth rate)
✅ Compelling distribution (majority WOM)
✅ Great retention
✅ Unique insights
🚫 Repeat founder
🚫 Lack of competition
🚫 Large market
🚫 Revenue
🚫 Clear why-now
2/ Shopify at Series A:

✅ Great product
✅ Strong growth (marquee customers, growth rate)
✅ Compelling distribution (>80% organic)
✅ Impressive repeat founder
✅ Unique insights
✅ Clear why-now
🚫 Great retention
🚫 Large market
🚫 Lack of competition
🚫 Hockey-stick growth
Read 8 tweets

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