Dallas StartUp Next Product-Market Fit Prezi

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The marketing strategy element of product-market fit is defined and illustrated by marketing professional and mentor Heather Nichols to the Dallas Start-Up Next entrepreneurial community at the Addison Treehouse in Dallas, Texas. For more information on product-market fit or for a free marketing consultation, please visit the contact option listed at www.thebizfizz.com.

Business

Pro
1.
Product-Market Fit
1. What is it?
2. Example of a successful PMF
3. Example of a failed PMF
4. What can you do to insure successful PMF
5. Resources
6. Conclusion, thanks, and an offer for YOU:)

1. What is it?
Answer: Product/Market Fit is the degree to which a
product satisfies a strong market demand.
Hey! Look
at my
awesome
product!

Exa2m. pElxeaEmples of a Failed PMF
1. A Shark Tank story
2. Ice Cubes to Eskimos
3. Segway

Ex 3. Example of a Successful PMF
1. Gatorade
2. Starbucks
3. ***

ExTen Steps to Product/Market Fit (extracted from Wikipedia)
Ash Maurya outlines ten steps for exploring Product/Market Fit.
1. Your product is not "product"
2. Explore different business models and prioritize where to start
3. Understand the three stages of startups: [Problem/Solution Fit], Product/Market
Fit, Scale
4. Focus on the right metrics
5. Formulate falsifiable hypotheses
6. Architect for learning
7. Architect for speed
8. Go only as fast as you can learn
9. Validate qualitatively, verify quantitatively
10. Systematically test your model

Ex
IDEAS
BUILD
PRODUCT
LEARN
DATA
MEASURE
USE
GOOGLE
KEYWORD
PLANNER!!
USE IT FOR
“REAL”
SEARCH
AND
LANGUAGE
FOR YOUR
MARKET!
DON’T
ASSUME!

Ex
Product/Market Fit Storyboard
Building a Minimum Viable Product requires four components of the Business Model Canvas in the
Product/Market Fit Storyboard:[7]
1. Customers
2. Value Proposition
3. Channels

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Dallas StartUp Next Product-Market Fit Prezi

3. Pro 1. Product-Market Fit 1. What is it? 2. Example of a successful PMF 3. Example of a failed PMF 4. What can you do to insure successful PMF 5. Resources 6. Conclusion, thanks, and an offer for YOU:)

4. 1. What is it? Answer: Product/Market Fit is the degree to which a product satisfies a strong market demand. Hey! Look at my awesome product!

5. Exa2m. pElxeaEmples of a Failed PMF 1. A Shark Tank story 2. Ice Cubes to Eskimos 3. Segway

6. Ex 3. Example of a Successful PMF 1. Gatorade 2. Starbucks 3. ***

7. 4. What you can do to insure success

8. ExTen Steps to Product/Market Fit (extracted from Wikipedia) Ash Maurya outlines ten steps for exploring Product/Market Fit. 1. Your product is not "product" 2. Explore different business models and prioritize where to start 3. Understand the three stages of startups: [Problem/Solution Fit], Product/Market Fit, Scale 4. Focus on the right metrics 5. Formulate falsifiable hypotheses 6. Architect for learning 7. Architect for speed 8. Go only as fast as you can learn 9. Validate qualitatively, verify quantitatively 10. Systematically test your model

9. Ex IDEAS BUILD PRODUCT LEARN DATA MEASURE USE GOOGLE KEYWORD PLANNER!! USE IT FOR “REAL” SEARCH AND LANGUAGE FOR YOUR MARKET! DON’T ASSUME!

10. Ex Product/Market Fit Storyboard Building a Minimum Viable Product requires four components of the Business Model Canvas in the Product/Market Fit Storyboard:[7] 1. Customers 2. Value Proposition 3. Channels

11. 5. Resources for more info on PMF 1. http://fourhourworkweek.com/2009/05/19/vanity-metrics-vs-actionable- metrics/ THE FOUR HOUR WORK WEEK, TIM FERRIS 2. http://businessmodelalchemist.com/2012/08/achieve-product-market- fit-with-our-brand-new-value-proposition-designer.html THE BUSINESS MODEL ALCHEMIST 3. http://www.sba.gov SMALL BUSINESS ADMINISTRATION

12. 6. Conclusion

13. BONUS: FREE 30 MINUTE ONLINE PRIVATE TRAINING TO HELP YOU SET UP YOUR BUSINESS PAGE! *** ONLY VALID FOR STARTUP NEXT ENROLLED MEMBERS FOR THIS PREZI

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