For Thought Machine's Smart Contracts feature, should we focus on expanding functionality or improving user-friendliness for non-technical bank staff?

Introduction

The trade-off we're examining for Thought Machine's Smart Contracts feature is whether to focus on expanding functionality or improving user-friendliness for non-technical bank staff. This decision is crucial for the product's success and adoption within the banking industry. I'll analyze this trade-off by considering various factors, including user needs, technical feasibility, and business impact.

Step 1

Clarifying Questions (3 minutes)

• Based on the current market landscape, I'm thinking our competitors might be pushing for more advanced features. Could you share insights on how our feature set compares to key competitors?

Why it matters: Helps position our product strategy relative to market demands Expected answer: We're on par with basic features but lag in advanced functionality Impact on approach: Would influence whether to prioritize new features or usability

• Considering our revenue model, I assume Smart Contracts directly impact our bottom line. How does this feature tie into our current pricing structure and revenue streams?

Why it matters: Aligns product decisions with financial goals Expected answer: It's a key differentiator in our enterprise tier pricing Impact on approach: Would justify investing in both functionality and usability

• Looking at user adoption, I'm curious about the current usage patterns. What percentage of our clients are actively using Smart Contracts, and what's the split between technical and non-technical users?

Why it matters: Identifies the most impactful user segment to focus on Expected answer: 60% adoption, with a 70-30 split favoring technical users Impact on approach: Could suggest prioritizing usability to increase non-technical user adoption

• Regarding our development resources, I'm wondering about our team's capacity. Do we have separate teams for feature development and UX improvements, or would this be a trade-off in the same resource pool?

Why it matters: Determines if we can pursue both paths simultaneously Expected answer: Single team responsible for both aspects Impact on approach: Would require careful prioritization and potentially phased implementation

• Considering our product roadmap, I'm thinking about how this decision fits into our broader strategy. Is there a specific timeline or milestone we're working towards that could influence this trade-off?

Why it matters: Aligns decision with strategic goals and timelines Expected answer: Aiming for a major release in Q4 to capture year-end budget allocations Impact on approach: Could influence whether to focus on quick wins or long-term improvements