Overview

What are you and your product team foregoing by choosing to focus on one thing over another? It is obvious that a single product cannot be built to solve all problems or meet all user needs, so decisions around what not to do, are as important as choosing what to do.—Karen A Whenever we spend our money – or time – on one thing, we’re implicitly giving up our ability to spend that same money or time on something else – an “opportunity cost” or “tradeoff."—Samir Patel You can’t be two places at once. The time that you have is fixed, choosing to do one thing with your time means that you can’t be doing the other. This choice is a trade-off.—Joe Van Os

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20 Mental Models for Product Managers

Memory fails me on the exact sequence of events that led me to discovering mental models and how I became obsessed with them. This is unsurprising because I read a lot of stuff - articles, books, and more; partly because I love the experience of reading (and writing), and partly because it's more or less a requirement when you work as a Product Manager, but mostly because I have an insatiable, unquenchable thirst for knowledge.

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Opportunity Costs / Tradeoffs Mental Model (Incl. Return on Investment) - Poor Ash's Almanack (by Askeladden Capital)

The concept in one quote: One is obliged sometimes to give up some smaller points in order to obtain greater. - Benjamin Franklin Click To Tweet The concept in one sentence: whenever we spend our money - or time - on one thing, we're implicitly giving up our ability to spend that same money or time on something - an " opportunity cost" or " tradeoff."

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Mental Models for Product Managers

One of the biggest responsibilities of a Product Manager is to make sure that all of your business units are playing nice and decisions are being made. This can lead to many judgment calls throughout the typical workday, including decisions where we do not necessarily have all of the facts.

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