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Product/Market Fit
tempo
http://tempo.tw
Tempo
•2012. Cubie
•Investor: 500 Startups
•Advisor: Andrew Chen, …
•2008. Gamelet
•2004. Willmobile
•http://fb.me/tempofeng
•http://tempo.tw
•
•http://fb.me/pdwtaiwan
Agenda
Product
/Idea
MarketFit
Agenda
• Product/Market Fit PMF
• Market
• Product/Idea
• Minimum Viable Product MVP
•
•
•
• Pivot
An idea is not a mockup
A mockup is not a prototype
A prototype is not a program
A program is not a product
A product is not a business
And a business is not profits
•Four Billion-Dollar Startups That Were Told Their Idea Was Stupid
•https://medium.com/life-learning/four-billion-dollar-startups-that-
were-told-their-idea-was-stupid-97a02cfa5e7#.v97rmbdfr
The future is extremely hard to see through the
lens of the present. It’s very easy to unconsciously
dismiss the first versions of something as
frivolous or useless. Or as stupid ideas.
https://dcurt.is/what-a-stupid-idea
1. guideline
Market Product/Idea
2. Build-Measure-Learn
MVP PMF
Product/Market Fit
http://pmarchive.com/guide_to_startups_part4.html
1.
2.
3.
In a great market (a market with lots of real
potential customers) the market pulls product
out of the startup.
The #1 company-killer is lack of
market.
Product/market fit means being in a good market
with a product that can satisfy that market.
The only thing that matters is getting to product/
market fit.
Product/Market Fit
Product/Market Fit
1. Retention
2.
3.
4.
Product/Market Fit
•
•Retention
•LTV / CAC > 3
•Repeatability, Findability, Scaleability
•…
Product/Market Fit
•
• 40%+
•
•
•
•http://www.startup-marketing.com/the-startup-pyramid/
Product/Market Fit
•Retention
• 2nd Day Retention
• / /
• DAU/MAU
1.20%
2.40%
3.60%
4.
•
• : 40%
• Facebook, Instagram:
50%~60%
• cubie: 30%
•
• Amazon
...
Product/Market Fit
• LTV >> CAC
•SAAS
• 3
•LTV
Product/Market Fit
•Repeatability
•
•Findability
•
•Scaleability
•
http://www.sachinrekhi.com/how-do-you-know-if-youve-achieved-product-market-fit
MVP
PMF
1)
2)
Market
Market
• Findable? Repeatable?
•
• 0 1
•
1.
2.
3.
4.
- Ben Evans
•http://ben-evans.com/benedictevans/2015/2/28/market-size
•
•
•
1.
2.
3.
4.
•
• vs
•
•Apple Watch
1. 1000
2. 10
1. 40% )
2. 5%
A business creates X dollars of value
and captures Y% of X.
X and Y are independent variables.
- Peter Thiel
• 0 1
•http://www.books.com.tw/products/0010651050
•
•
•
•
•Network Effects
•
•
Network Effect vs Virality
•
Product / Idea
Product / Idea
•
•
•Bundling & unbundling
•Market Size vs Business Model
•Perfect Competition
Tell me something that's true, that
almost nobody agrees with you on
- Peter Thiel
http://bit.ly/1Qx3D73
- Clay Christensen
1.
2. 1/10
3.
- Clay Christensen
•
•
•
•
•
•
Bundling & Unbundling
Market Size vs Business Model
http://tempo.tw/post/141822053360/
Perfect Competition
• https://en.wikipedia.org/wiki/Perfect_competition
•A large number of buyers and sellers
•Perfect information
•Homogeneous products
•No barriers to entry or exit
•Every participant is a price taker
•…
Market/Idea
Retention
Perfect
Competition
Market Size
vs
Business Model
Bundling &
Unbundling
•Market Idea
•
•
MVP (Minimum Viable Product)
Lean Startup
MVP
• Lean Startup
•Build-Measure-Learn
• Idea
•
•
MVP
• MVP
•
•Landing page
•
•Kickstarter
•
•
MVP - Zaoo
MVP - Dropbox
MVP - Zappos
https://generalassemb.ly/blog/businesses-that-started-as-a-minimum-viable-product/
MVP
• MVP
•MVP
•
• vs
•Zaoo: Flow
MVP
•
•
• User
• User
•
•User Interview
•
•Landing page
• Funnel
•Retention
•Retention by features
•
•Get out of the building!
•
• User Interview
•
•
•
•
•
•
•
•
•
•
•
http://www.slideshare.net/seanellis/product-driven-growth-from-lean-product-meetup
User Interview
User Interview
Jobs to be Done
https://strategyn.com/jobs-to-be-done/
User Interview - Zaoo
1.
2. app
3. User Interview
4. 2~3
5.
6.
7. app
User Interview - Zaoo
•
• 300 /
•
•
•
• app
•
User Interview -
http://tempo.tw/post/128711124655/
User Interview
Landing page
Funnel
Retention
Landing Page
• Landing Page
Funnel
•
Retention
•
• 40%+
•
•
•
•http://www.startup-marketing.com/the-startup-pyramid/
Registration Funnel?
2nd Day Retention?
Pivot
Pivot
•MVP
•
•
Pivot
•Just because something is not working does not mean everything is
not working
•Zoom-in Pivot
•Zoom-out Pivot
•Customer Segment Pivot
•Customer Need Pivot
•Platform Pivot
•Business Architecture Pivot
•Value Capture Pivot
•Engine of Growth Pivot
•Channel Pivot
•Technology Pivot
Pivot
•If you’re not growing, you’re dying.
•If your competitors are all dying, and you’re not growing, you’re about to
die.
•If your competitors are all dying, and you’re growing, congratulations — you
won!
•If you’re going to pivot, look at everything you’ve learned and put
everything into the most promising, simple piece of your failed business (in
our case, our email list).
http://calacanis.com/2016/02/14/knowing-when-and-how-to-pivot-or-why-didnt-news-apps-work/
MVP
•Social
•
•Network Effects
•
•
•
•Product/Market Fit
•
•Market
•
•Product/Idea
• Retention Market
Size vs Business Model
•Build-Measure-Learn
•
•User Interview
•
•
•Main Flow Funnel, …
•Pivot
•
• PMF
•Growth
Product Market Fit
Product Market Fit

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