In this talk, Janna Bastow talks about different ways people have defined product/market fit, dives into several ways to break it down and understand if you're getting near to product-market fit, and provides a detailed look at Sean Ellis's Customer Development Survey for measuring PMF.

1. Finding
Product/Market Fit

2. Hello!
I’m Janna Bastow
Reach out to talk to me
about product or just
say hi at @simplybastow
or janna@prodpad.com

3. What is
Product/Market Fit?

4. Product/market fit means
being in a good market
with a product
that can satisfy that market.
- Marc Andreessen, 2007

5. “You’ve made something
people want”
- Paul Graham, Y Combinator

6. “Users spontaneously tell
other people to use your
product”
- Sam Altman, Y Combinator

7. “You can feel it”

10. Not very measurable.

11. Inner nerd
Gotta satisfy it...

12. Getting the first 10
customers is the
hardest

13. Getting the first 10
customers is the
hardest
This is a lie.

14. Product/Market Fit
is way beyond
10 customers
10 customers is Problem/Solution fit
1000 customers is Product/Market fit

15. Product/Market Fit
is way beyond
10 customers
10 customers is Problem/Solution fit
1000 customers is Product/Market fit. Maybe.

16. Product/Market Fit
changes
Because the market changes.

17. Product/Market Fit

18. You are not
your market!

19. Your early customers
are not your market!

20. ProductHunt users
and Beta testers
are not your market!

21. Product/Market Fit

22. Purchase ≠ Fit

23. Your users change

24. So how do I get to
Product/Market Fit?

25. Talk to people
Even the ones who don’t like you

26. What frustrates
you most about
our product?

27. Talk about your vision
Make sure you’re on the right path

28. Product Vision
FOR (target customer)
WHO (statement of need or opportunity)
THE (product name) IS A (product category)
THAT (key benefit, reason to buy)
UNLIKE (primary competitive alternative)
OUR PRODUCT (statement of primary differentiation)
Find this free template at: www.prodpad.com/vision-template

29. Your roadmap is
a prototype for
your strategy

30. Test everything
Your product is more than just the code/interface

31. Move fast
You’ve got to keep up with a moving target

32. Ask tough questions
Set your ego aside and be ready to learn

33. If this product didn’t
exist today, would we
still build it?

34. How do I know if I have
Product/Market Fit?

35. Customer Development Survey
• Sean Ellis developed in 2009
• PMFsurvey.com or just Typeform
• Way more useful than NPS!

36. Establish what problem they were trying to solve...

37. Establish what problem they were looking to solve...

38. If 40%+ are ‘very disappointed’
then you have
Product/Market Fit
Maybe.

39. Always ask for more information...

40. Scope out the competition...

41. Find out what you’re best at...

42. And who you’re good for...

43. Ask about past behaviours, not future intentions...

44. Ask how they talk about you behind your back...

45. Find out who you’re really talking to…

46. Segmentation
Key to getting market fit.

47. Adaptation
Key to getting product/market fit.

49. Product/Market Fit =
Scalable, repeatable business model
If you’re not there yet, keep going. DON’T try to scale too early.

50. Thanks!
Say hi at @simplybastow or janna@prodpad.com.
Try ProdPad free – prodpad.com