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TathagatVarmaKnowledgepreneur
http://thoughtleadership.in
90%
http://qz.com/682517/after-analyzing-200-founders-postmortems-researchers-say-these-are-the-reasons-startups-fail/
https://steveblank.com/2014/06/28/customer-discovery-the-search-for-productmarket-fit-2-minutes-to-see-why/
� MarcAndressan(2007):� Product/marketfitmeansbeinginagoodmarketwithaproductthat
cansatisfythatmarket.� WhenyouareBPMF,focusobsessivelyongettingtoproduct/market
fit.Dowhateverisrequiredtogettoproduct/marketfit.Includingchangingoutpeople,rewritingyourproduct,movingintoadifferentmarket,tellingcustomersnowhenyoudon'twantto,tellingcustomersyeswhenyoudon'twantto,raisingthatfourthroundofhighlydilutiveventurecapital--whateverisrequired
� PaulGraham(2008):� Makethingspeoplewant.
� SeanEllis:� Achievingproduct/marketfitrequiresatleast40%ofuserssayingthey
wouldbe“verydisappointed”withoutyourproduct.� PMFasapre-conditiontoscalingupbusiness!
� MichaelSeibel(2016):� Focusingonmarketfirst!
“Youcanalwaysfeelproduct/marketfitwhenit'shappening.Thecustomersarebuyingtheproductjustasfastasyoucanmakeit--orusageisgrowingjustasfastasyoucanaddmoreservers.Moneyfromcustomersispilingupinyourcompanycheckingaccount.You'rehiringsalesandcustomersupportstaffasfastasyoucan.Reportersarecallingbecausethey'veheardaboutyourhotnewthingandtheywanttotalktoyouaboutit.YoustartgettingentrepreneuroftheyearawardsfromHarvardBusinessSchool.Investmentbankersarestakingoutyourhouse.”–MarcAndreessen
Youcanalwaysfeelwhenproduct/marketfitisn’thappening.Thecustomersaren’tquitegettingvalueoutoftheproduct,wordofmouthisn’tspreading,usageisn’tgrowingthatfast,pressreviewsarekindof“blah”,thesalescycletakestoolong,andlotsofdealsneverclose.–MarcAndreessen
1. Determineyourtargetcustomer2. Identifyunderservedcustomerneeds3. Defineyourvalueproposition4. SpecifyyourMVP5. CreateyourMVP6. TestyourMVPwithcustomers
Itisaniterativeprocess.IterationleadstofeedbackonMVP,whichgetsrevised.WhenyouMVPisvaluable,easytouse,etc.,youhavefoundPMF!
http://medium.com/lean-startup-co/a-playbook-for-achieving-product-market-fit-434a644a9b91#.k8b6q93dp
� TheValuePropositionCanvaszoomsintothedetailsoftwoofthebuildingblocksoftheBusinessModelCanvas
� Helpsyoucreatevalueforyourcustomer
� CustomerProfile:clarifyyourcustomerunderstanding
� ValueMap:describehowyouintendtocreatevalueforthatcustomer
� Youachieve“Fit”whenvaluemapmeetsyourcustomerprofile–whenyourproductsandservicesproductpainrelieversandgaincreatorsthatmatchoneofmoreofthejobs,pains,andgainsthatareimportanttoyourcustomer.
http://www.slideshare.net/rishi12/finding-product-market-fit-introducing-the-pmf-matrix-presentation-by-rishi-dean-to-mit-sloan-breakfast-club
1. Productmarketfitisalwaysadiscrete,bigbangevent
2. It’spatentlyobviouswhenyouhaveproductmarketfit
3. Onceyouachieveproductmarketfit,youcan’tlostit
4. Onceyouhaveproductmarketfit,youdon’thavetosweatthecompetition
http://blog.pmarca.com/2010/03/20/the-revenge-of-the-fat-guy/
1. YourproductisNOT“theproduct”2. Brainstormmultiplemodelsandprioritizewheretostart3. Understandthethreestageofastartup4. Focusontherightmacrometrics5. Formulatefalsifiablehypotheses6. Architectforlearning7. Architectforspeed8. Goonlyasfastasyoucanlearn9. Validatequalitatively,verifyquantitatively10. Systematicallytestyourmodel
http://www.slideshare.net/ashmaurya/10-steps-to-productmarket-fit
http://torgronsund.com/wordpress/wp-content/uploads/2011/04/Slide1.jpg
GET OUT OF THE BUILDING…
� Product-MarketFitisallaboutfindingthe“resonance”betweenyourcustomer’sneedsandyourvalueproposition
� Youstartwithsketchingyourassumptionsonpaper.AtoollikeVPCorPMFCcouldbeuseful.
� However,youneedtovalidateyourassumptions!So,youbuildanMVPandtestitrigorously.
� WhenyouseeyourBMCischeckedallgreen,youhaveno“guesswork”leftunvalidatedanymore.
� Atthatpoint,youhaveachievedPMFandhaveaplaybookfornextphaseofgrowth.
� http://web.archive.org/web/20070701074943/http://blog.pmarca.com/2007/06/the-pmarca-gu-2.html
� http://productmarketfitcanvas.com/� http://rishidean.com/2010/03/15/finding-product-market-fit-introducing-the-pmf-matrix/
� http://blog.pmarca.com/2010/03/20/the-revenge-of-the-fat-guy/� https://leanstack.com/achievingproductmarketfit/� http://www.startup-marketing.com/the-startup-pyramid/� http://www.slideshare.net/ashmaurya/10-steps-to-productmarket-fit
� https://www.quora.com/How-do-you-define-Product-Market-Fit
� http://www.themacro.com/articles/2016/06/the-real-product-market-fit/
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