It’s simple, or at least it should be:
1. Make a list of your business goals.
2. Make a list of features and rank them by how they will help you accomplish your goals. Be ready to justify your decisions. “Because it looks pretty” or “because my 5 year old nephew likes it” can be reasons to add a feature, but only when you’ve run out of reasons like: “it makes us money”, “it gets us eyeballs”, or “it saves us money”.
3. Get rid of everything that doesn’t help you reach your business goals. (Alternate version: Revise your goals, but a feature better be damn compelling if it means changing your business.)
4. Rate each feature by level of investment (I like “level of investment” better than “level of effort” because it’s not really about how hard the work is, it’s about “how long?” and “how much?”)
5. Looking at all of the information you’ve put together, make a decision. Execute on it.
6. See how it does and start the process over again.
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