This presentation was used for my talk at HowToWeb 2014 in Bucharest Romania and is the updated presentation to my blog post on the subject - http://thedrawingboard.me/2013/05/03/the-product-market-fit-cycle/
What is Product / Market
Fit? Poor conversions, no word of mouth, slow usage growth, long sales cycle, and high churn | “Customers are buying the product as fast as you can make it, or usage is growing as fast as you can add more servers.” - Marc. A.
Why do you want to
create a company? · What is your vision? · What are your values? · What company culture do you want to instill?
Other than for making money…
· On what basis will you make decisions? · What will you be looking for in people you hire? · what will motivate you through the hard times?
Identifying a Minimum Viable Segment
· Allows for better differentiation with out-group competing products · Allows for easier referrals in-group · Allows for efficient capital use in reaching your market
It’s easy to miss one/all
of these: 1. Identifying a Minimum Viable Segment 2. Defining a clear positioning strategy + MVP that represents it 3. Testing of a complimentary go 2 market strategy 4. Tracking the right metrics to refine your value proposition