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How to find Product Market Fit

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How to find Product Market Fit

  1. 1. HOW TO FIND PRODUCT MARKET FIT
  2. 2. PRODUCT MARKET FIT
  3. 3. 1. Define Product-Market Fit 2. Know your next step 3. How to take it Goals
  4. 4. Founder Institute Thank You
  5. 5. Push the envelope Today We’re going to…
  6. 6. 1. Built with Love 2. Delay 3. Feedback for you The Platform
  7. 7. Justin@CustomerDevLabs.com Feedback for me
  8. 8. The Platform Let’s Explore
  9. 9. 1. Who am I? 2. What is Product-Market Fit? 3. Path to Product-Market Fit 4. Who are your Early Adopters? 5. Wrap up Agenda
  10. 10. WHO AM I?
  11. 11. My Background 18 months
  12. 12. Discovered Lean Startup
  13. 13. ThingsWeStart
  14. 14. Success
  15. 15. Mentor Around the World San Francisco San Juan Seattle Lincoln Calgary Singapore Barcelona Paris London Sydney Zagreb San Francisco San Juan Seattle Lincoln Calgary Singapore Barcelona Paris London Sydney Zagreb
  16. 16. Startup Accelerators
  17. 17. Curriculum Mentor & Speaker
  18. 18. FOCUS Framework
  19. 19. ?’s
  20. 20. 1. Who am I? 2. What is Product-Market Fit? 3. Path to Product-Market Fit 4. Who are your Early Adopters? 5. Wrap up Agenda
  21. 21. Finding Product-Market Fit Is hard… 1. Haven’t defined it 2. Overwhelming 3. How to do it?
  22. 22. "Being in a good market with a product that can satisfy that market." Product-Market Fit? - Marc Andreesen
  23. 23. "Being in a good market with a product that can satisfy that market." Product-Market Fit? - Marc Andreesen
  24. 24. You get to define it. Good Market?
  25. 25. …to achieve your goals. Your startup is a vehicle
  26. 26. "Being in a good market with a product that can satisfy that market." Product-Market Fit? - Marc Andreesen
  27. 27. "Being in a market that can achieve your goals with a product that can satisfy that market." Product-Market Fit?
  28. 28. “Satisfying a market…that satisfies you." Product-Market Fit - Justin Wilcox
  29. 29. Satisfies you? 1. All decisions are easier 2. Confidence to pivot 3. Unify your team
  30. 30. Declaring Victory
  31. 31. "Being in a good market with a product that can satisfy that market." Product-Market Fit? - Marc Andreesen
  32. 32. “Satisfying a market that satisfies you." Product-Market Fit
  33. 33. Satisfies you 1. All decisions are easier 2. Confidence to pivot 3. Unify your team
  34. 34. ?’s
  35. 35. Takeaway What’s your Victory?
  36. 36. 1. Who am I? 2. What is Product-Market Fit? 3. Path to Product-Market Fit 4. Who are your Early Adopters? 5. Wrap up Agenda
  37. 37. Product-Market Fit? How do you find
  38. 38. Riskiest Assumption Test your
  39. 39. Where do you start? What tests do you run? Questions How do you run them? ? ? ? ? ? ? ? ? ?
  40. 40. FOCUS Framework 1. Concrete steps 1 2 3 4 5 6 … 2. Orders the steps 3. Instructions & tools for each step
  41. 41. FOCUS Framework
  42. 42. Riskiet Assumption Path to… Product-Market Fit
  43. 43. Finding Product-Market Fit Is hard… 1. Haven’t defined it 2. Overwhelming 3. How to do it?
  44. 44. Riskiet Assumption Your 5 Riskiest Assumptions
  45. 45. ASSUMPTION You can find people trying to solve the problem They want your help solving it They will "pay" you to solve it You can solve it You will achieve Product- Market Fit
  46. 46. Riskiet Assumption The 5 Phases of Product-Market Fit
  47. 47. Assumption You can find people trying to solve the problem They want your help solving it They will "pay" you to solve it You can solve it You will achieve Product- Market Fit Test Manual solution Ads, Cold Emails Landing Page, Pre-Sales, LOIs Product, large segments, etc. Customer Interviews Utility Testing Offer Testing Currency Testing Scaling to Fit Finding Early Adopters Phase
  48. 48. Riskiet Assumption What Phase Are you in?
  49. 49. Product-Market Fit Assessment 1. What phase are you in? 2. What’s your riskiest assumption? 3. What’s your next step to test it?
  50. 50. Where do you start? What tests do you run? Questions How do you run them? ? ? ? ? ? ? ?? ?
  51. 51. Riskiet Assumption Your 5 Riskiest Assumptions
  52. 52. ASSUMPTION You can find people trying to solve the problem They want your help solving it They will "pay" you to solve it You can solve it You will achieve Product- Market Fit
  53. 53. Riskiet Assumption The 5 Phases of Product-Market Fit
  54. 54. Assumption You can find people trying to solve the problem They want your help solving it They will "pay" you to solve it You can solve it You will achieve Product- Market Fit Test Manual solution Ads, Cold Emails Landing Page, Pre-Sales, LOIs Product, large segments, etc. Customer Interviews Utility Testing Offer Testing Currency Testing Scaling to Fit Finding Early Adopters Phase
  55. 55. ?’s
  56. 56. Takeaways 1. What phase are you in? 2. What’s your riskiest assumption? 3. What’s your next step to test it?
  57. 57. 1. Who am I? 2. What is Product-Market Fit? 3. Path to Product-Market Fit 4. Who are your Early Adopters? 5. Wrap up Agenda
  58. 58. Assumption You can find people trying to solve the problem They want your help solving it They will "pay" you to solve it You can solve it You will achieve Product- Market Fit Test Manual solution Ads, Cold Emails Landing Page, Pre-Sales, LOIs Product, large segments, etc. Customer Interviews Utility Testing Offer Testing Currency Testing Scaling to Fit Finding Early Adopters Phase
  59. 59. Riskiet Assumption Who are your Early Adopters?
  60. 60. Diffusion of Innovations Early Adopters Early Majority Late Majority Laggards Victory
  61. 61. Startup founders “Not sure how to apply Lean Startup” Victory Start
  62. 62. “Not sure how to apply Lean Startup” Goes to Lean Startup Machine Pays for online courses Goes to Lean Startup Conf. Makes calls on Clarity Buy’s Ash’s Book Enrolls in Founder Institute Tweets about Lean Startup Machine Reviews online courses Leaves feedback on Clarity Amazon review for Ash’s Book Joins Founder Institute Meetup Group
  63. 63. What are Early Adopters? “Paying” to Solve It Know they Have It Have the problem Customers who…
  64. 64. Where are yours? Externally Observable Behavior Tweets about Lean Startup Machine Reviews online courses Leaves feedback on Clarity Amazon review for Ash’s Book Joins Founder Institute Meetup Group
  65. 65. ?’s
  66. 66. Takeaways Where are your Early Adopters?
  67. 67. 1. Who am I? 2. What is Product-Market Fit? Recap
  68. 68. Declaring Victory
  69. 69. "Being in a good market with a product that can satisfy that market." Product-Market Fit? - Marc Andreesen
  70. 70. "Being in a market that can achieve your goals with a product that can satisfy that market." Product-Market Fit?
  71. 71. “Satisfying a market that satisfies you." Product-Market Fit
  72. 72. Satisfies you 1. All decisions are easier 2. Confidence to pivot 3. Unify your team
  73. 73. 1. Who am I? 2. What is Product-Market Fit? 3. Path to Product-Market Fit Recap
  74. 74. Where do you start? What tests do you run? Questions How do you run them? ? ? ? ? ? ? ?? ?
  75. 75. Riskiet Assumption Your 5 Riskiest Assumptions
  76. 76. ASSUMPTION You can find people trying to solve the problem They want your help solving it They will "pay" you to solve it You can solve it You will achieve Product- Market Fit
  77. 77. Riskiet Assumption The 5 Phases of Product-Market Fit
  78. 78. Assumption You can find people trying to solve the problem They want your help solving it They will "pay" you to solve it You can solve it You will achieve Product- Market Fit Test Manual solution Ads, Cold Emails Landing Page, Pre-Sales, LOIs Product, large segments, etc. Customer Interviews Utility Testing Offer Testing Currency Testing Scaling to Fit Finding Early Adopters Phase
  79. 79. Product-Market Fit Assessment 1. What phase are you in? 2. What’s your riskiest assumption? 3. What’s your next step to test it?
  80. 80. 1. Who am I? 2. What is Product-Market Fit? 3. Path to Product-Market Fit 4. Who are your Early Adopters? Recap
  81. 81. Diffusion of Innovations Early Adopters Early Majority Late Majority Laggards Victory
  82. 82. What are Early Adopters? “Paying” to Solve It Know they Have It Have the problem Customers who…
  83. 83. Where are yours? Externally Observable Behavior Tweets about Lean Startup Machine Reviews online courses Leaves feedback on Clarity Amazon review for Ash’s Book Joins Founder Institute Meetup Group
  84. 84. 1. Who am I? 2. What is Product-Market Fit? 3. Path to Product-Market Fit 4. Who are your Early Adopters? 5. Free Bonuses Recap
  85. 85. BONUS #1
  86. 86. FREE EMAIL COURSE
  87. 87. BONUS #2
  88. 88. FOCUS Framework May 3rd $20 OFF
  89. 89. ?’s
  90. 90. #1 Takeaway
  91. 91. FOCUS Framework May 3rd $20 OFF
  92. 92. HOW TO FIND PRODUCT MARKET FIT

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