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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. Push the envelope Today We’re going to…
  5. 5. 1. Webinars suck 2. Will this suck? 3. Delay 4. Feedback for you The Platform
  6. 6. Justin@CustomerDevLabs.com Feedback for me
  7. 7. The Platform Let’s Explore
  8. 8. 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
  9. 9. WHO AM I?
  10. 10. My Background 18 months
  11. 11. Discovered Lean Startup
  12. 12. ThingsWeStart
  13. 13. Success
  14. 14. 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
  15. 15. Startup Accelerators
  16. 16. Curriculum Mentor & Speaker
  17. 17. FOCUS Framework
  18. 18. ?’s
  19. 19. 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
  20. 20. Finding Product-Market Fit Is hard… 1. Haven’t defined it 2. Overwhelming 3. How to do it?
  21. 21. "Being in a good market with a product that can satisfy that market." Product-Market Fit? - Marc Andreesen
  22. 22. "Being in a good market with a product that can satisfy that market." Product-Market Fit? - Marc Andreesen
  23. 23. You get to define it. Good Market?
  24. 24. …to achieve your goals. Your startup is a vehicle
  25. 25. "Being in a good market with a product that can satisfy that market." Product-Market Fit? - Marc Andreesen
  26. 26. "Being in a market that can achieve your goals with a product that can satisfy that market." Product-Market Fit?
  27. 27. “Satisfying a market…that satisfies you." Product-Market Fit - Justin Wilcox
  28. 28. Satisfies you? 1. All decisions are easier 2. Confidence to pivot 3. Unify your team
  29. 29. Declaring Victory
  30. 30. "Being in a good market with a product that can satisfy that market." Product-Market Fit? - Marc Andreesen
  31. 31. “Satisfying a market that satisfies you." Product-Market Fit
  32. 32. Satisfies you 1. All decisions are easier 2. Confidence to pivot 3. Unify your team
  33. 33. ?’s
  34. 34. Takeaway What’s your Victory?
  35. 35. 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
  36. 36. Product-Market Fit? How do you find
  37. 37. Riskiest Assumption Test your
  38. 38. Where do you start? What tests do you run? Questions How do you run them? ? ? ? ? ? ? ? ? ?
  39. 39. FOCUS Framework 1. Concrete steps 1 2 3 4 5 6 … 2. Orders the steps 3. Instructions & tools for each step
  40. 40. FOCUS Framework
  41. 41. Riskiet Assumption Path to… Product-Market Fit
  42. 42. Finding Product-Market Fit Is hard… 1. Haven’t defined it 2. Overwhelming 3. How to do it?
  43. 43. Riskiet Assumption Your 5 Riskiest Assumptions
  44. 44. 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
  45. 45. Riskiet Assumption The 5 Phases of Product-Market Fit
  46. 46. 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
  47. 47. Riskiet Assumption What Phase Are you in?
  48. 48. 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?
  49. 49. Where do you start? What tests do you run? Questions How do you run them? ? ? ? ? ? ? ?? ?
  50. 50. Riskiet Assumption Your 5 Riskiest Assumptions
  51. 51. 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
  52. 52. Riskiet Assumption The 5 Phases of Product-Market Fit
  53. 53. 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
  54. 54. ?’s
  55. 55. Takeaways 1. What phase are you in? 2. What’s your riskiest assumption? 3. What’s your next step to test it?
  56. 56. 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
  57. 57. 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
  58. 58. Riskiet Assumption Who are your Early Adopters?
  59. 59. Diffusion of Innovations Early Adopters Early Majority Late Majority Laggards Victory
  60. 60. Startup founders “Not sure how to apply Lean Startup” Victory Start
  61. 61. “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
  62. 62. What are Early Adopters? “Paying” to Solve It Know they Have It Have the problem Customers who…
  63. 63. 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
  64. 64. ?’s
  65. 65. Takeaways Where are your Early Adopters?
  66. 66. 1. Who am I? 2. What is Product-Market Fit? Recap
  67. 67. Declaring Victory
  68. 68. "Being in a good market with a product that can satisfy that market." Product-Market Fit? - Marc Andreesen
  69. 69. "Being in a market that can achieve your goals with a product that can satisfy that market." Product-Market Fit?
  70. 70. “Satisfying a market that satisfies you." Product-Market Fit
  71. 71. Satisfies you 1. All decisions are easier 2. Confidence to pivot 3. Unify your team
  72. 72. 1. Who am I? 2. What is Product-Market Fit? 3. Path to Product-Market Fit Recap
  73. 73. Where do you start? What tests do you run? Questions How do you run them? ? ? ? ? ? ? ?? ?
  74. 74. Riskiet Assumption Your 5 Riskiest Assumptions
  75. 75. 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
  76. 76. Riskiet Assumption The 5 Phases of Product-Market Fit
  77. 77. 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
  78. 78. 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?
  79. 79. 1. Who am I? 2. What is Product-Market Fit? 3. Path to Product-Market Fit 4. Who are your Early Adopters? Recap
  80. 80. Diffusion of Innovations Early Adopters Early Majority Late Majority Laggards Victory
  81. 81. What are Early Adopters? “Paying” to Solve It Know they Have It Have the problem Customers who…
  82. 82. 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
  83. 83. 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
  84. 84. BONUS #1
  85. 85. FREE EMAIL COURSE
  86. 86. BONUS #2
  87. 87. FOCUS Framework 24 hours $20 OFF
  88. 88. ?’s
  89. 89. #1 Takeaway
  90. 90. FOCUS Framework 24 Hours $20 OFF
  91. 91. HOW TO FIND PRODUCT MARKET FIT

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