While not all teams that rally around a single business-focused metric will become myopic, it’s not difficult to imagine how easily this becomes the case. Managing against the “one metric that matters” runs the risk of tunnel vision while everything else suffer. This is the double-edged sword of metrics that gives rise to their unintended consequences.

Developing metrics from scratch can be incredibly daunting, precisely because there is so much at stake. Unless you work in an industry where standard metrics are widely accepted (such as in gaming, e-commerce, or retail), metrics are anything but trivial. I've developed a mental model & framework you can use for new products, existing products, and even PM interviews.

“Strategy” — one of those words folks like to throw around to sound important. “We need a strategy…” or “what’s the strategy?” an executive may say. Everyone in the room nods in agreement. “Yeah, we need a better strategy.” Except half the room can’t describe what strategy is or how to get one.

As a Product Manager, picking the right metrics may be the single most important thing you’ll do for your product. This is an introduction to the basics of metrics, what it is, and why it matters.