How to find product market fit

HOW TO FINDPRODUCTMARKET FIT

PRODUCTMARKET FIT

1. Define Product-Market Fit2. Know your next step3. How to take it

Goals

Push the envelope

TodayWe’re going to…

1. Webinars suck2. Will this suck?3. Delay4. Feedback for you

The Platform

Justin@CustomerDevLabs.comFeedback for me

The PlatformLet’s Explore

1. Who am I?2. What is Product-Market Fit?3. Path to Product-Market Fit4. Who are your Early Adopters?5. Wrap up

Agenda

WHO AMI?

My Background

18 months

Discovered

Lean Startup

ThingsWeStart

Success

Mentor Around the World

San Francisco San Juan

Seattle

LincolnCalgary

Singapore

Barcelona

ParisLondon

Sydney

Zagreb

San Francisco San Juan

Seattle

LincolnCalgary

Singapore

Barcelona

ParisLondon

Sydney

Zagreb

Startup Accelerators

Curriculum

Mentor & Speaker

FOCUS Framework

?’s

1. Who am I?2. What is Product-Market Fit?3. Path to Product-Market Fit4. Who are your Early Adopters?5. Wrap up

Agenda

FindingProduct-Market FitIs hard…

1. Haven’t defined it2. Overwhelming3. How to do it?

"Being in a good market with a product that can satisfy that market."

Product-Market Fit?

- Marc Andreesen

"Being in a good market with a product that can satisfy that market."

Product-Market Fit?

- Marc Andreesen

You get to define it.

Good Market?

…to achieve your goals.

Your startup is a vehicle

"Being in a good market with a product that can satisfy that market."

Product-Market Fit?

- Marc Andreesen

"Being in a market that can achieve your goals with a product that can satisfy that market."

Product-Market Fit?

“Satisfying a market…that satisfies you."

Product-Market Fit

- Justin Wilcox

Satisfies you?1. All decisions are easier2. Confidence to pivot3. Unify your team

Declaring Victory

"Being in a good market with a product that can satisfy that market."

Product-Market Fit?

- Marc Andreesen

“Satisfying a market that satisfies you."

Product-Market Fit

Satisfies you1. All decisions are easier2. Confidence to pivot3. Unify your team

?’s

Takeaway

What’s your Victory?

1. Who am I?2. What is Product-Market Fit?3. Path to Product-Market Fit4. Who are your Early Adopters?5. Wrap up

Agenda

Product-Market Fit?How do you find

Riskiest AssumptionTest your

Where do you start?

What tests do you run?

Questions

How do you run them?

??

?

?

??

??

?

FOCUSFramework

1. Concrete steps

1 23 45

6

…

2. Orders the steps 3. Instructions & tools for each step

FOCUS Framework

Riskiet AssumptionPath to…Product-Market Fit

FindingProduct-Market FitIs hard…

1. Haven’t defined it2. Overwhelming3. How to do it?

Riskiet AssumptionYour 5Riskiest Assumptions

ASSUMPTIONYou 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

Riskiet AssumptionThe 5 Phases ofProduct-Market Fit

AssumptionYou 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 EmailsLanding Page,Pre-Sales, LOIs

Product, large segments, etc.

CustomerInterviews

Utility Testing

Offer Testing

Currency Testing

Scaling to Fit

Finding Early Adopters

Phase

Riskiet AssumptionWhat PhaseAre you in?

Product-Market FitAssessment

1. What phase are you in?2. What’s your riskiest assumption?3. What’s your next step to test it?

Where do you start?

What tests do you run?

Questions

How do you run them?

??

?

?

??

??

?

Riskiet AssumptionYour 5Riskiest Assumptions

ASSUMPTIONYou 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

Riskiet AssumptionThe 5 Phases ofProduct-Market Fit

AssumptionYou 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 EmailsLanding Page,Pre-Sales, LOIs

Product, large segments, etc.

CustomerInterviews

Utility Testing

Offer Testing

Currency Testing

Scaling to Fit

Finding Early Adopters

Phase

?’s

Takeaways

1. What phase are you in?2. What’s your riskiest assumption?3. What’s your next step to test it?

1. Who am I?2. What is Product-Market Fit?3. Path to Product-Market Fit4. Who are your Early Adopters?5. Wrap up

Agenda

AssumptionYou 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 EmailsLanding Page,Pre-Sales, LOIs

Product, large segments, etc.

CustomerInterviews

Utility Testing

Offer Testing

Currency Testing

Scaling to Fit

Finding Early Adopters

Phase

Riskiet AssumptionWho are yourEarly Adopters?

Diffusion of Innovations

EarlyAdopters

EarlyMajority

LateMajority Laggards

Victory

Y

YYY

YY

Startup founders

“Not sure how to apply Lean Startup”

VictoryStart

Y

YYY

YY

“Not sure how to apply Lean Startup”

Goes to Lean Startup MachinePays for online coursesGoes to Lean Startup Conf.Makes calls on ClarityBuy’s Ash’s BookEnrolls in Founder Institute

Tweets about Lean Startup MachineReviews online courses

Leaves feedback on Clarity

Amazon review for Ash’s BookJoins Founder Institute Meetup Group

What are Early Adopters?

“Paying” to Solve It Know they Have ItHave the problem

Customers who…

Where are yours?

Externally Observable Behavior

Tweets about Lean Startup MachineReviews online coursesLeaves feedback on ClarityAmazon review for Ash’s BookJoins Founder Institute Meetup Group

?’s

Takeaways

Where are your Early Adopters?

1. Who am I?2. What is Product-Market Fit?

Recap

Declaring Victory

"Being in a good market with a product that can satisfy that market."

Product-Market Fit?

- Marc Andreesen

"Being in a market that can achieve your goals with a product that can satisfy that market."

Product-Market Fit?

“Satisfying a market that satisfies you."

Product-Market Fit

Satisfies you1. All decisions are easier2. Confidence to pivot3. Unify your team

1. Who am I?2. What is Product-Market Fit?3. Path to Product-Market Fit

Recap

Where do you start?

What tests do you run?

Questions

How do you run them?

??

?

?

??

??

?

Riskiet AssumptionYour 5Riskiest Assumptions

ASSUMPTIONYou 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

Riskiet AssumptionThe 5 Phases ofProduct-Market Fit

AssumptionYou 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 EmailsLanding Page,Pre-Sales, LOIs

Product, large segments, etc.

CustomerInterviews

Utility Testing

Offer Testing

Currency Testing

Scaling to Fit

Finding Early Adopters

Phase

Product-Market FitAssessment

1. What phase are you in?2. What’s your riskiest assumption?3. What’s your next step to test it?

1. Who am I?2. What is Product-Market Fit?3. Path to Product-Market Fit4. Who are your Early Adopters?

Recap

Diffusion of Innovations

EarlyAdopters

EarlyMajority

LateMajority Laggards

Victory

What are Early Adopters?

“Paying” to Solve It Know they Have ItHave the problem

Customers who…

Where are yours?

Externally Observable Behavior

Tweets about Lean Startup MachineReviews online coursesLeaves feedback on ClarityAmazon review for Ash’s BookJoins Founder Institute Meetup Group

1. Who am I?2. What is Product-Market Fit?3. Path to Product-Market Fit4. Who are your Early Adopters?5. Free Bonuses

Recap

BONUS #1

FREEEMAIL COURSE

BONUS #2

FOCUS Framework24 hours $20 OFF

?’s

#1 Takeaway

FOCUS Framework24 Hours $20 OFF

HOW TO FINDPRODUCTMARKET FIT