Critical stage before scaling growth activities is to find/increase product/market fit. Here is a playbook with tools and examples for our strategy for product/market fit with our mobile app products.
Isobar - Product & Ventures - Finding Product/Market Fit
1. Product - Meeting Room App & Qisper
Objective - Strategy & execution for
Product/Market Fit
Sprint 1 Diagnosis
Sprint 2 Initial Growth To Collect Data
Sprint 3 User Research, Synthesis, Iterated
Business Model & Product Roadmap
20 September 2019
3. Most founders don’t do a good job of articulating their startup. You have to know how to talk about your
product
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1. Internally understand value prop
Amazon style press release First Tweet
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5. Finding your first users is a manual, in-person, educated-guess process. “In the beginning, everything is experimental”
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2. Find First Users
20 manual ways to find
traction
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7. Are new users returning to your product? How does the product need to change to engage and retain?
Who are the types of users we should focus on?
3. Optimise product around core users / Refine segment based on research
User TestingSegment Users via
Research
Research to find a ‘High
Expectation Customer’
Persona
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8. Work examples
Optimise product around core users
Built personas from customer
support data (Zendesk). High
leverage source of user research
Customer Personas based on
customer support data.
9. How can we measure product/market fit?
What do we do with product/market fit survey information?
4. Measuring Product/Market Fit
Product/Market Fit
Surveys
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11. 5. Improve layers of product/market fit
Theory: In order to increase/achieve product/market fit, there must be data driven iterations of riskiest assumptions
(i.e most important) - customer segment, customer needs and solution/product/feature set, value prop.
Step 1: Broad hypothesis
of problem and solution
Step 2: Lay out detailed
hypothesis of business
model
Step 3: Systematically
test and iterate
hypothesis. Validate &
keep. Invalidate &
change.
Examples of business
model pivots
12. Improve layers of product/market fit
In Practice: ‘History of Truth - from fiction to fact a ‘time-lapse’ view of iteration cycles of the business
model. Key activities to to (in)validate include user research and growth activities. Subsequent data to
inform iterations.
Truth 1.0
Oct 2018
Truth 2.0
July 2018
Truth 3.0
Sep 2019
Target Customer:
Transition students
Need: Find people with
similar interests and
needs
Value Prop: Find and
share experiences with
others
Feature Set:
● Interests
● Events
Truth 4.0
Oct 2019
13. History of Truth - Process
Process
1. List hypothesis on a
business model
2. Prioritise hypothesis and
assumptions to tests (i.e.
validate or invalidate)
3. Create learn research
spike into agile backlog
4. Lean validation: if
hypothesis is mostly true,
hypothesis validated.
Otherwise invalidate and
new hypothesis to be
created
Hypothesis
Validated
(truish)
Invalidated
(wrongish)
Timeline
Research &
Growth
Spike
Research &
Growth
Spike
14. Goal is for cohort of users to create a new cohort of users
6. Building word-of-mouth into the customer journey/product (Virality)
Viral Loop Research
16. 7. User Research, synthesis, prioritisation
Work example - User research via workshop and synthesis into solutions/features
17. User Research, synthesis, prioritisation
Work example - Prioritising upcoming features based on competitive differentiation
18. User Research, synthesis, prioritisation
Work example: Product Roadmap to increase product/market fit
19. 8. Focus on priority channels for more users
Once you’ve reached this point (1) value prop resonates 2) Users retained, not it’s time to find the right channel to
use for acquisition, i.e. product/channel fit.
Prioritise Channels Rapidly Test (Ping)
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