A pre-mortem analysis is a useful tool to identify potential issues before they occur. Based on Shreyas Doshi's content, here's a pre-mortem analysis of what could potentially go wrong with your EvenSpades product roll out in the United Kingdom targeting students:
- User adoption: EvenSpades may struggle to gain enough users to make the product successful. This could be due to a lack of awareness about the product, or difficulty in convincing students to switch from their current solutions.
- User retention: Even though the product may be able to acquire users, it may struggle to retain them. Students may find that EvenSpades is not meeting their needs or may not find the product useful in the long term.
- Technical issues: The product may have technical glitches that prevent it from functioning properly, such as bugs or unexpected downtime. This could lead to a poor user experience and loss of trust in the brand.
- Limited features: EvenSpades may lack features that are important to students and this could negatively impact the product's adoption and retention.
- Security issues: EvenSpades may be vulnerable to security threats such as hacking or data breaches. This could lead to a loss of user trust and damage to the brand.
- Limited scalability: EvenSpades may struggle to scale to meet the needs of a large number of users. This could lead to a poor user experience and a loss of trust in the brand.
- Limited market size: The market for expense splitting apps may be limited in the UK and EvenSpades may struggle to gain enough users to make the product successful.
- Limited revenue stream: The product relies heavily on the 2 transactions where EvenSpades acts as a participant and pays an even portion of the bill, this could become a bottleneck in the revenue stream and make the product economically unsustainable.