Uploaded byJustin Wilcox
How to find product market fit
This document outlines steps to find product-market fit, including defining early adopters and determining the best segments to target. It introduces the FOCUS framework, which provides concrete steps to validate goals through product delivery at scale. These steps include finding early adopters, offering tests, currency tests, utility tests, and scaling. The document also describes exercises to declare validation victories, generate new product ideas, role-play customer segments, and score segments to determine which to initially target. The overall aim is to provide a clear path and tools to efficiently test ideas and reach product-market fit.
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How to find product market fit
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- 2. 1. Who arewe? 2. Path to Product-Market Fit 3. What are Early Adopters? 4. Who are yours? 5. Where can you find them? Agenda
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- 12. Mentor Around theWorld 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
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- 17. 1. Who arewe? 2. Path to Product-Market Fit 3. What are Early Adopters? 4. Who are yours? 5. Where can you find them? Agenda
- 18. Validation you canachieve your goals, by deliverying a product at scale. Product-Market Fit?
- 19. Where do you start? Whattests do you run? Questions How do you run them? ? ? ? ? What do you do with the results? ? ?
- 20. FOCUS Framework 1. Concrete steps ValidationRoadmap 1 2 3 4 5 6 … 2. Orders the steps 3. Instructions & tools for each step
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- 23. Finding Early Adopters OfferTesting Currency Testing Utility Testing Scaling FOCUS
- 24. FOCUS Framework 1. Concrete steps Pathto Product-Market Fit 1 2 3 4 5 6 … 2. Orders the steps 3. Instructions & tools for each step
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- 29. WHY DECLARE VICTORY? 1. MAKESEVERYTHING EASIER 2. MEASURE: ARE YOU ON THE RIGHT TRACK?
- 30. Validation you canachieve your goals, by deliverying a product at scale. Product-Market Fit
- 31. 1/10/15 Virtual lean startup peergroups Early stage intra- & entrepreneurs
- 32. $1mm in thebank secure Justin Wilcox 1/10/15 Virtual lean startup peer groups Early stage intra- & entrepreneurs
- 33. 10 Founder victories declared accomplished JustinWilcox 1/10/15 Virtual lean startup peer groups Early stage intra- & entrepreneurs
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- 37. WHY IDEA GENERATION? 1. IFYOU DON’T HAVE A COMPANY/PRODUCT IDEA 2. IF YOU DO…WHAT IF YOU’RE WRONG?
- 38. Validation you canachieve your goals, by deliverying a product at scale. Product-Market Fit?
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- 48. Customers don’t buy products. Customersbuy solutions to problems.
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- 53. Developer Startup founder Seahawks fan “Doesn’texercise enough” Works from home Partner dancer Speaker/educator Long-term boyfriend Meditator Only child living away from aging parents Microsoft employee Boat owner Wake boarder Options trader Swing dancer Golfer Skier Frequent traveler Soccer player Drive thru worker Under resourced children Entrepreneurs in developing regions Existentially anxious Young developers Female entrepreneurs
- 54. Speaker/educator Long-term boyfriend Meditator Only childliving away from aging parents Frequent traveler Soccer player Drive thru worker entrepreneurs 1 Million $ in the bank Startup founders “How do I do Lean?” Under resourced kids limited career options Meditators existential angst
- 55. Speaker/educator Long-term boyfriend Meditator Only childliving away from aging parents Frequent traveler Soccer player Drive thru worker entrepreneurs 1 Million $ in the bank Startup founders “How do I do Lean?” Under resourced kids limited career options Meditators existential angst
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- 57. 1. FOCUS: Pathto Product-Market Fit 2. You Defined Victory A. Personal B. Team 3. Created a plan (w/ backups) Quick Summary
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- 59. 1. Who arewe? 2. Path to Product-Market Fit 3. What are Early Adopters? 4. Who are yours? 5. Where can you find them? Agenda
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- 61. 1. Who arewe? 2. Path to Product-Market Fit 3. What are Early Adopters? 4. Who are yours? 5. Where can you find them? Agenda
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- 63. WHY? 1. 1ST STEPIN FINDING YOUR EARLY ADOPTERS…WHO ARE YOUR OPTIONS? 2. MAKE SURE YOUR SEGMENTS ARE REAL 3. START THE NICHING PROCESS
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- 66. $1mm In thebank How do I do Lean Startup? Startup founders Startup curious corporates Failed founders High school teachers Professors Consultants Internal training departments Accelerators Innovation leaders at companies CEOs CMOs Funded founders Community leaders Community organizations Economic development teams Corporate Incubators Founders /w full-time jobs Serial entrepreneurs High school FBLA advisors Entrepreneurship Profs. Startup education organization’s content directors Leaders civic economic development team Directors Corporate Incubators Innovation Consultants Accelerator Director Seed funded founder Series A funded founder Startup community leader
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- 70. Startup founders “Not surehow to apply Lean Startup” Started reading Lean Startup Takes free courses online Filling out Business Model Canvas Goes to free Lean Meetups Success Start
- 71. “Not sure howto apply Lean Startup” Just started reading Lean Startup Takes free courses online Filling out Business Model Canvas Goes to free Lean Meetups 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
- 72. WHAT ARE EARLY ADOPTERS? “Paying”to Solve It Know they Have It Have the problem CUSTOMERS WHO…
- 73. WHERE ARE YOURS? Externally Observable Behavior Tweetsabout Lean Startup Machine Reviews online courses Leaves feedback on Clarity Amazon review for Ash’s Book Joins Founder Institute Meetup Group
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- 76. 1. Role-ized yourcustomers 2. Defined Early Adopters 3. Identified your Early Adopters 4. Discovered where to find them Quick Summary
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- 79. 1. Who arewe? 2. Path to Product-Market Fit 3. What are Early Adopters? 4. Who are yours? 5. Where can you find them? Agenda
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- 82. WHY? 1. TEST ONESEGMENT AT A TIME 2. WHICH ONE?
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- 84. SCALE your Segments SC A L E Description Segments 3 = 2 = 1 = 3 = 2 = 1 = 3 = 2 = 1 = 3 = 2 = 1 = 3 = 2 = 1 = ize T-shirt sizing Large Medium Small Founders who go to Lean Events Entre. Profs. who use “All In Startup” Innovation consultants at Lean Conferences Incubator directors at Lean Conferences 2 1 1 1 urrency How much of the thing you need, do they have? A lot Some A little 1 2 3 3 ccess If the product was ready, how quickly could you get currency? Days Weeks Months 3 2 2 2 ove How much do you want to serve this group for the next 5 years? A lot Some Not at all 3 2 1 1 arly Adopters How much data do you have they are trying to solve this problem? A lot Some None 3 2 3 2 Total Score Multiply the columns. Don’t add them. 54 16 18 12 Founders who go to Lean Events 54
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- 86. Finding Early Adopters Offer Testing FOCUS U F C U Product-MarketFit Roadmap C O F O S Currency Testing Utility Testing Scaling
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- 94. 1. Who arewe? 2. Path to Product-Market Fit 3. What are Early Adopters? 4. Who are yours? 5. Where can you find them? What we Covered
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- 96. HOW TO FIND YOUR PRODUCT MARKETFIT Justin@CustomerDevLabs.com
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