Hypergrowth for product managers: Pros, cons, and strategies

Creating a successful business involves navigating significant challenges and risks, with the goal of achieving product-market fit and entering a phase of hypergrowth, characterized by rapid expansion of over 40% annually. This phase is driven by factors such as innovation, exceptional positioning, and scalable business models, and requires careful management of challenges like resource allocation, feature prioritization, and team scaling. However, companies must avoid pitfalls like hubris and lack of innovation to maintain growth, as illustrated by case studies of firms like Nokia and Kodak, who failed to adapt to changing markets. Maintaining hypergrowth requires understanding the factors that initially drove success and remaining vigilant to evolving market conditions, ensuring continued product relevance and market leadership.