The document discusses the importance of product-market fit for startups. It states that the main reasons startups fail is due to a lack of product-market fit (34%) or marketing problems (22%). Product-market fit means that a product satisfies customer needs in a way that also allows the startup to grow. It involves intuitive value, willingness to deal with friction, enthusiasm from users, and word-of-mouth promotion. Finding product-market fit requires building something users want and iteratively learning what customers need through direct engagement with potential users before fully developing a product.
Dan Olsen, The Lean Product Playbook , @danolsen
Room: C260
Everyone working on a new product is trying to achieve the same goal: product-market fit. Although product-market fit is one of the most important Lean Startup concepts, it’s also the least well defined. Dan Olsen shares the top advice from his book The Lean Product Playbook, including the Product-Market Fit Pyramid: an actionable model that breaks product-market fit down into 5 key elements. Dan also explains the Lean Product Process, a 6-step methodology with practical guidance on how to achieve product-market fit, illustrated with a real-world case study.
Mental Models to Guide Product Decisions by Google Product ManagerProduct School
Main takeaways:
-What are mental models?
-Understand the different types of mental models that are relevant for product roles
-How to incorporate mental models to help with problem solving and make better/ faster decisions
Dan Olsen, The Lean Product Playbook , @danolsen
Room: C260
Everyone working on a new product is trying to achieve the same goal: product-market fit. Although product-market fit is one of the most important Lean Startup concepts, it’s also the least well defined. Dan Olsen shares the top advice from his book The Lean Product Playbook, including the Product-Market Fit Pyramid: an actionable model that breaks product-market fit down into 5 key elements. Dan also explains the Lean Product Process, a 6-step methodology with practical guidance on how to achieve product-market fit, illustrated with a real-world case study.
Mental Models to Guide Product Decisions by Google Product ManagerProduct School
Main takeaways:
-What are mental models?
-Understand the different types of mental models that are relevant for product roles
-How to incorporate mental models to help with problem solving and make better/ faster decisions
Joanna Lord, CMO at BigDoor, shared her lessons learned from a few BPMFs (before product/market fits), a few APMF (after product/market fits) and some NFPMFs (never found product/market fits).
Lesson #1: The market wins
Lesson #2: Realize your product is not the product
Lesson #3: Start at the pain point
Lesson #4: Ask all the questions
Lesson #5: Be skeptical
Lesson #6: Minimum sellable product
Lesson #7: Double back…a dozen times
Lesson #8: Repeat after me: activation & retention
Lesson #9: Architect for speed
Lesson #10: Validate qualitatively, verify quantitatively
Joanna shared this presentation at the NEXT Program in Seattle (swnext.co)
Brand Box 3 - Know Your Consumers - The Marketer's Ultimate ToolkitAshton Bishop
http://www.stepchangemarketing.com/
In this Slideshare presentation:
1. Brand Box 3 - Know your consumers 2. Actions from insights 3. Know your consumers 4. Apple - Think different 5. Insights 6. Insight vs. Information 7. Insight gleaned 8. Why are insights important 9. The Pareto principle 10. Finding the outstanding results 11. The Standford prison system experiment 12. The Standford prison system experiment cont... 13. RTA "Pinky" Campaign 14. RTA "Pinky" Campaign cont... 15. Consumer Segmentation: Useful tools 16. Maslow's heirarchy of needs 17. 7 Levels of organisational consciousness 18. Cone of learning 19. Why target a consumer segment 20. Targeting and spillage 21. Key benefits of market segmentation 22. Market segmentation 23. Loyalty segmentation 24. Loyalty and relationship index 25. Generations through the ages 26. Baby boomers 27. Generation X 28. Generation Y 29. Generation Net 30. Generation C 31. Consumer 2.0 32. Customisation 33. The long tail 34. Segmentation methods 35. Who are we creating value for? 36. Segmentation: How is it done? 37. Segment examples 38. Adoption of innovation model 39. Common segmentation methodologies & models 40. Mosaic segmentation 41. geoTribes 42. Nielsen: Panorama 43. Roy Morgan segments: ASTEROID 44. Customer conversion 45. Marketing funnel 46. Purchase path 47. Conversion strategy 48. Case study: Joe Girard 49. Joe Girard cont... 50. Research: Angles and Issues 51. Bill Bernbach 52. Henry Ford 53. trendwatching.com 54. Roles of research 55. Research and ethnography 56. Different segmentation for different purposes 57. Decision making 58. Research strategies 59. Research can confuse you! 60. Case study: Coca-Cola 61. The tipping point 62. The tipping point cont... 63. The tipping point cont... 64. Pricing 65. Pricing strategies 66. Progression of commoditisation 67. Elements of pricing 68. Pricing elements 69. Pricing elements cont... 70. The strategy and tactics of pricing 71. Reference price 72. Reference price cont.. 73. Adapting to a changing environment 74. Price metrics 75. Marketing success through differentiation 76. Pricing mechanisms 77. Insight and segmentation tools 78. The "Big Questions" for stimulation 79. 24 Secondary questions 80. The top 4 81. Interrogate your consumer 82. Customer profile page 83. Benefits vs. problems 84. Benefits vs. problems cont... 85. Picture profiles 86. Pen portraits of target markets 87. Mind snapshot 88. Insight windows 89. Insight links 90. Customer journey audit 91. Experience engineering 92. Value your existing customers
Usage of English words is very essential for a successful and effective marketing strategy. Which words are neuro-psychological activators are very important to understand and analyse. In addition, the slogans of companies are also an important dimension to achieve the surprise. Without a catchy slogan, no company can flourish. Last but not the least, email appointments.
Mr Ken Varga recently surveyed thousands of business owners to find out what was in their way of generating more revenue. Then he spent several days categorizing the information to make it useful to them and to business owners like you.
Mårten Mickos' slides from April 2011
see also http://aaltoes.com/2011/04/marten-mickos-never-work-for-a-large-company-unless-youve-created-it-yourself/
As a small business owner there's probably two things you want more than anything
else in today's economy.
More customers & more cash flow for your business!
However, you've probably come to realize, that's not as easy as it sounds today. I'm
sure this wasn't always the case.
Many businesses not long ago were booming during one of the biggest economic runs
this country had even known. You had as many leads and customers as you could
handle thanks to a thriving economy.
Your sales were skyrocketing, your employees were happy and you were on top of the
world, buying nice cars, investing in vacation homes in your favorite get-a-way
destinations, traveling the world with your spouse and family and enjoying the finer
things in life…as you should have.
StayinFront Leadership Perspective Roundtable Interview with Dale Hagemeyer- ...StayinFront
As a part of StayinFront’s Leadership Perspectives Series, Dale Hagemeyer, a leader of the research, best practices, and advisory function at POI shares how to use data and technology to impact sales and retail execution. He also talks about some key challenges to having a global solution.
Similar to 25_07_Product Market Fit_Gilles de Clark_EIA Porto 2022.pdf (20)
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
2. NOT EVERY NEW BUSINESS IS A STARTUP
A startup is scalable. It has the potential to
grow exponentially rather than linearly.
Growth
Innovation
A startup is testing assumptions that haven’t
been tested before, be it new technologies,
products/services or markets.
3. 34%
Lack of Product-Market Fit
22%
Marketing problems
18%
Team problems
16%
Finance problems
6%
Tech problems
4%
Legal problems
WHY 9 OUT OF 10 STARTUPS FAIL
source Failory
4. “There is just one mistake that kills startups.
Not making something users want.”
— Paul Graham
5. — Paul Graham
“If you wonder how someone crazy or incompetent can be the
CEO of a successful startup, the answer is that some startups
are so viral that they'll grow almost regardless of who's in charge.”
6. WORD-OF-MOUTH
“We knew we were on to something when our
friends who were using it were asking if they could
invite their friends, and those people invited their
friends, and those people invited their friends. We
put up a waiting list and it
23. “A PRODUCT THAT SELLS ITSELF.”
1. Intuitive value
Users see the value of the product without needing extensive explanations.
2. Willingness-for-friction
Users perceive enough value to justify labor, price and risk of switching to the
product.
3. Enthusiasm
Users want the product right away.
4. Word-of-mouth
Users tell others like them about the product.
25. PRODUCT-MARKET FIT = RETENTION
%
active
users
0
25
50
75
100
time since signup
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14
PMF
PMF
26. FREEMIUM
more upgrades
increased ARPU
increased virality
more revenue
ADVERTISING
more attention to sell
increased ARPU
increased virality
more revenue
TRANSACTIONAL
more transactions
increased ARPU
increased virality
more revenue
SUBSCRIPTION
longer subscriptions
increased ARPU
increased virality
more revenue
27. Who are the users that stay?
→ Why do they love the product?
→ Where can I
fi
nd more users like them?
Who are the users that leave?
→ What holds them back from loving the product?
28. “HOW WOULD YOU FEEL IF YOU COULD
NO LONGER USE SUPERHUMAN?”
Not disappointed
23%
Somewhat disappointed
45%
Very disappointed
32%
“How Superhuman built an engine to
34. MARKET PRODUCT
expat
Open your account in seconds without street address or
credit checks.
digital nomad
Spend, withdraw, get and send money anywhere in the
world, in real-time. No hidden fees.
bank account holder
Smart budgeting with goals, alerts and analytics. Freeze
and cards and withdrawals with one click. All from your
phone.
credit card spender
Spend securely with single-use cards. Get daily discounts
and cashbacks.
crypto-curious Buy crypto from your phone with one click.
35.
36. 1. Build a product you think wonderful.
2. Never
fi
nd a market that needs it.
PRODUCT → MARKET
1. Find a market with a need.
2. Build a product that solves the need.
MARKET → PRODUCT
37. — Michal Bohanes, founder Dinnr
"This will be the number one lesson I will never forget
and the absolute key to understanding Dinnr’s
failure: we were not solving anyone’s problem."
MARKET PUSH
38. — Rohit Nallapeta, founder Eloquis
"Personalization was not an immediate need. We failed to
realize how big a problem like that was, and somehow
assumed the market would see the value in the product."
MARKET PUSH
39. — Josh Fraser, co-founder EventVue
"EventVue was 'a vitamin instead of a painkiller.' Conference
organizers typically
47. FINDING YOUR MARKET PRE-PRODUCT
“The real metric is ‘do someone’s pupils dilate?’
48.
49. Ask them directly. Even try to get them to pay you now to get early access to the
product.
There is no better PMF signal than a paying customer.
2. People are willing to pay (now)
50. 1. Find at least 100 potential customers that are representative of the target audience.
2. Ask each to rank your idea or prototype out of 10 on how likely they are to put down a cash deposit for it.
3. Count the percentage of 9-10 respondents. That gets you an idea the market share you appeal to and
therefore how big your idea is,
4. Understand what makes the 9s-10s di
ff
erent from the others. What do they have in common that is
di
ff
erent from the others? Use that insight to
fi
nd more of those people.
↺ Rinse and repeat.
FINDING YOUR MARKET PRE-PRODUCT
51. FINDING YOUR MARKET PRE-PRODUCT
If no 9s and 10s, focus on 7-8s and understand why they’re on the fence (i.e.
what keeps them from 9-10). Use that insight to refocus the idea.
❋ How are you currently solving this problem?
❋ What annoys you about your current approach?
❋ If you had a magic wand, how would you solve this problem?
❋ How much would you pay for this if it existed?
❋ Why is this a problem for you?
↺ Rinse and repeat.
52. “Ask yourself: who wants this right now? Who wants
this so much they’ll use it even when made by a
crappy two-people startup they’ve never heard of?”
— Paul Graham
FINDING YOUR MARKET PRE-PRODUCT