A Note on Product Strategy – Phil Libin

Todd Sattersten captured this strategy advice during an interview with Evernote’s CEO, Phil Libin:

Make a product that a billion people will fall in love with and use for the rest of their lives.

Make it easy for a single-digit percentage of them to pay you a few bucks a month once in a while.

Make sure your variable costs are low enough that you can make a mountain of profit if you get #1 and #2 right.

Simple enough but that first one sure is a big step.

On a side note, I haven’t given up on Evernote yet but I am still not using it on a daily basis.  I do like how they have incorporated a great demo video (see Don’t Hide the Demo Button) on their front page for showing how Evernote can save you from the note monster.