Product Market Fit - Notes #1 ... Shayari, Quotes, Story, Poem, Jokes, Memes On Nojoto

Product Market Fit - Notes #1 - Product/market fit means being in a good market with a product that can satisfy that market. - You can always feel when product/market fit isn’t happening. The customers aren’t quite getting value out of the product, word of mouth isn’t spreading, usage isn’t growing that fast, press reviews are kind of “blah”, the sales cycle takes too long, and lots of deals never close. - Product/market fit is when people sell for you - Product market fit is a funny term, but here’s a concrete way to think about it. When people understand and use your product enough to recognize it’s value that’s a huge win. But when they begin to share their positive experience with others, when you can replicate the experience with every new user who your existing users tell, then you have product market fit on your hands. And when this occurs something magical happens. All of a sudden your customers become your salespeople. - Identifying a compelling value hypothesis is what I call finding product/market fit. A value hypothesis addresses both the features and business model required to entice a customer to buy your product. - Do whatever is required to get to product/market fit. Including changing out people, rewriting your product, moving into a different market, telling customers no when you don’t want to, telling customers yes when you don’t want to, raising that fourth round of highly dilutive venture capital — whatever is required. - Changing teams, markets, products, names, and visions are all reasonable in pursuit of product-market fit. That’s the story of many companies: Instagram, Soylent, Anyperk, Twitter — all radically changed course from their original plan to find Product-market fit. - What makes a ‘good market’: - A large number of potential users - High growth in # of potential users - Ease of user acquisition - Measure Product Market Fit - Net Promoter Score (NPS) - Do customers care if your company died tomorrow? - Churn and user retention. Join World’s Largest Community of 1,00,000 people Sharing Stories, Video, Quotes, Shayari, Poem, Jokes, Songs, Music, Photo, Memes, Movies, Writing, Poetry, Haiku, Art, Painting, Photography, Whatsapp Status, YouTube Video, Download, Status, Film, वीडियो, शायरी, Good Morning, Funny Comedy, Funny Joke, Romantic Shayari, Romantic Whatsapp Status, Good Night, Share Jokes, Audio Songs, motivational quotes​, ​funny quotes, funny images, trolls, latest ​WhatsApp jokes, pyar shayari, romantic shayari, love quotes, motivational quotes, Viral Trending Videos, Make Friends, Make New Friends, Write Text On Photos, Record Video with Music, Write on Gif, Hindi Writing, Hindi Poetry, Hindi Quotes, Hindi Shayari, Hindi Poem, Hindi Jokes, Hindi Comedy, Hindi Memes, Hindi Stories, Hindi Whatsapp Status, Hindi Good Morning Status, Hindi Good Night Status, Hindi Songs, Hindi Singing and Photography. A Creative expression platform. Follow Satyaprem. Download Nojoto App to get real time updates about Satyaprem Shayari, Quotes, Story, Poem, Jokes, Memes On Nojoto . Internet, Product Market Fit

Story

3 years ago

Product Market Fit - Notes #1
- Product/market fit means being in a good market with a product that can satisfy that market.
- You can always feel when product/market fit isn’t happening. The customers aren’t quite getting value out of the product, word of mouth isn’t spreading, usage isn’t growing that fast, press reviews are kind of “blah”, the sales cycle takes too long, and lots of deals never close.
- Product/market fit is when people sell for you
- Product market fit is a funny term, but here’s a concrete way to think about it. When people understand and use your product enough to recognize it’s value that’s a huge win. But when they begin to share their positive experience with others, when you can replicate the experience with every new user who your existing users tell, then you have product market fit on your hands. And when this occurs something magical happens. All of a sudden your customers become your salespeople.
- Identifying a compelling value hypothesis is what I call finding product/market fit. A value hypothesis addresses both the features and business model required to entice a customer to buy your product.
- Do whatever is required to get to product/market fit. Including changing out people, rewriting your product, moving into a different market, telling customers no when you don’t want to, telling customers yes when you don’t want to, raising that fourth round of highly dilutive venture capital — whatever is required.
- Changing teams, markets, products, names, and visions are all reasonable in pursuit of product-market fit. That’s the story of many companies: Instagram, Soylent, Anyperk, Twitter — all radically changed course from their original plan to find Product-market fit.
- What makes a ‘good market’:
- A large number of potential users
- High growth in # of potential users
- Ease of user acquisition
- Measure Product Market Fit
- Net Promoter Score (NPS)
- Do customers care if your company died tomorrow?
- Churn and user retention

People who shared love close

Satyaprem

Written By : Satyaprem

Co-Founder, Nojoto. Passionate about People, Product, Technology, Physics, Space, Chess. And Life.

Download Nojoto App
×
add
close Create Story Next

Tag Friends

camera_alt Add Photo
person_pin Mention
arrow_back PUBLISH
language

Language

 

Upload Your Video close