Pro
1.Product-Market Fit
1. What is it?2. Example of a successful PMF3. Example of a failed PMF4. What can you do to insure successful PMF5. Resources6. Conclusion, thanks, and an offer for YOU:)
1. What is it?
Answer: Product/Market Fit is the degree to which a product satisfies a strong market demand.
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awesomeproduct!
ExampleE2. Examples of a Failed PMF
1. A Shark Tank story
2. Ice Cubes to Eskimos
3. Segway
Ex 3. Example of a Successful PMF
1. Gatorade2. Starbucks3. ***
4. What you can do to insure success
ExTen Steps to Product/Market Fit (extracted from Wikipedia)
Ash Maurya outlines ten steps for exploring Product/Market Fit.
1. Your product is not "product"
2. Explore different business models and prioritize where to start
3. Understand the three stages of startups: [Problem/Solution Fit], Product/Market
Fit, Scale
4. Focus on the right metrics
5. Formulate falsifiable hypotheses
6. Architect for learning
7. Architect for speed
8. Go only as fast as you can learn
9. Validate qualitatively, verify quantitatively
10. Systematically test your model
ExIDEAS
BUILD
PRODUCTMEASURE
DATA
LEARN
USE GOOGLE KEYWORD PLANNER!! USE IT FOR “REAL” SEARCH AND LANGUAGE FOR YOUR MARKET! DON’T ASSUME!
ExProduct/Market Fit Storyboard
Building a Minimum Viable Product requires four components of the Business Model Canvas in the
Product/Market Fit Storyboard:[7]
1. Customers
2. Value Proposition
3. Channels
5. Resources for more info on PMF
1. http://fourhourworkweek.com/2009/05/19/vanity-metrics-vs-actionable-metrics/
THE FOUR HOUR WORK WEEK, TIM FERRIS
2. http://businessmodelalchemist.com/2012/08/achieve-product-market-fit-with-our-brand-new-value-proposition-designer.html
THE BUSINESS MODEL ALCHEMIST
3. http://www.sba.gov SMALL BUSINESS ADMINISTRATION
6. Conclusion
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