5 experiments for product market fit w/ Startup weekend

5 EXPERIMENTSFOR PRODUCTMARKET FIT

Startup WeekendThank You

Everything you need to test

Business Model Canvas

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Where do you start?

What tests do you run?

Questions

How do you run them?

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The 5 Experiments

You’ll Learn

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The 5 Experiments

You’ll Learn

YourExperiment

Push the envelope

TodayWe’re going to…

1. Webinars suck2. This is a workshop3. Feedback for you4. 10-sec delay

The Platform

Justin@CustomerDevLabs.comFeedback for me

The PlatformLet’s Explore

1. Who am I?2. What is Product-Market Fit?3. The 5 Experiments4. Your Experiment5. Goodies

Agenda

WHO AMI?

My Background

18 months

Discovered

Lean Startup

ThingsWeStart

Success

Startup Accelerators

Curriculum

Mentor & Speaker

FOCUS Framework

?’s

1. Who am I?2. What is Product-Market Fit?3. The 5 Experiments4. Your Experiment5. Goodies

Agenda

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

Product-Market Fit?

- Marc Andreessen

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

Product-Market Fit?

- Marc Andreessen

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 Andreessen

“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 Andreessen

“Satisfying a market that satisfies you."

Product-Market Fit

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

Takeaway

What’s your Victory?

?’s

1. Who am I?2. What is Product-Market Fit?3. The 5 Experiments4. Your Experiment5. Goodies

Agenda

Assumption

AssumptionAssumption

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Assumption

Assumption Assumption

Assumption

Assumption

Assumption

Assumption

Assumption

Assumption

Assumption

Assumption

Assumption

Assumption

Assumption Assumption

Assumption

Assumption

Assumption

Where do you start?

What tests do you run?

Questions

How do you run them?

??

?

?

??

??

?

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5 Assumptions 5 Experiments

1 Principle5 Assumptions

CUSTOMERS DON’T BUYproductsCUSTOMERS BUY SOLUTIONS TOproblems

CUSTOMERS DON’T BUYproductsCUSTOMERS BUY SOLUTIONS TOproblems

1 Principle5 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

Product-Market Fit5 Experiments to

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

Cold Outreach, AdsLanding Page,Pre-Sales, LOIs

Product, large segments, etc.

CustomerInterviews

Utility Testing

Offer Testing

Currency Testing

Scaling to Fit

Finding Early Adopters

Phase

FOCUS Framework

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Framework

1. Concrete steps

1 23 4 56 …

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

FOCUS Framework

1. Who am I?2. What is Product-Market Fit?3. The 5 Experiments4. Your Experiment5. Goodies

Agenda

Product-Market FitAssessment

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

bit.ly/startmark

Takeaways

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

?’s

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

Cold Outreach, AdsLanding 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

Takeaways

Where are your Early Adopters?

?’s

1. Who am I?2. What is Product-Market Fit?3. The 5 Experiments4. Your Experiment5. Free Bonuses

Recap

“Satisfying a market…that satisfies you."

Product-Market Fit

- Justin Wilcox

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

Declared Victory

52

13 3

144 2

The 5 Experiments

You Learned

YourExperiment

CUSTOMER DON’T BUYproductsCUSTOMER BUY SOLUTIONS TOproblems

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

Cold Outreach, AdsLanding Page,Pre-Sales, LOIs

Product, large segments, etc.

CustomerInterviews

Utility Testing

Offer Testing

Currency Testing

Scaling to Fit

Finding Early Adopters

Phase

1. Who am I?2. What is Product-Market Fit?3. The 5 Experiments4. Your Experiment5. Free Bonuses

Recap

#1 Takeaway

BONUS #1

FREEEMAIL COURSE

BONUS #2

FOCUS Framework24 hours $20 OFF

Feedback

Startup WeekendThank You

?’s

FOCUS Framework24 Hours $20 OFF

5 EXPERIMENTSFOR PRODUCTMARKET FIT