What is a tech product bet?
A product bet is a simple way to capture a hunch you have about some potential value. These are sometimes used as a precursor to writing an epic user story or a user story. They follow a simple pattern.
What does a product bet look like?
A product bet usually has four components.
- Data: some information you have.
- Insight: a thought you have had about what that data tells you
- Belief: a consideration about how what behaviour this might change
- Bet: an informed guess at what value this might bring.
Here’s an example:
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Writing bets is a really good thing to do after having written a product vision, when you are story mapping a new product. It helps bring new ideas to the table, relatively prioritise and get started quickly and effectively.