Product Strategy
Ingredient 1: The problem is important to people
There need to be a lot of people willing to spend a lot of money to solve the problem. Most startups fail not because the idea isn’t good but because the market for the solution is just too small. If you want to build a venture-scale business, a rule of thumb is that there needs to be a clear path to... See more
There need to be a lot of people willing to spend a lot of money to solve the problem. Most startups fail not because the idea isn’t good but because the market for the solution is just too small. If you want to build a venture-scale business, a rule of thumb is that there needs to be a clear path to... See more
Lenny Rachitsky • How the most successful B2B startups came up with their original idea
The journey to PMF starts by finding just one company to truly love your product.
Lenny Rachitsky • A guide for finding product-market fit in B2B
a talented leader identifies the one or two critical issues in the situation—the pivot points that can multiply the effectiveness of effort—and then focuses and concentrates action and resources on them.”
Lenny Rachitsky • Getting better at product strategy
In terms of feeling market-message fit, there’s a few ways you can test it. One, based on launch press coverage, e.g. who wants to talk about it. You send an email using cold outbound and look at response rates.
Lenny Rachitsky • A guide for finding product-market fit in B2B
Strategy is an integrated set of choices that compels a desired customer action.
Roger Martin • 5 essential questions to craft a winning strategy | Roger Martin (author, advisor, speaker)
“How would you feel if you could no longer use [ProductName]?”
a) Very disappointed
b) Somewhat disappointed
c) Not disappointed
d) N/A I no longer use [ProductName]
If they never used the product or haven’t used it in several months, you already know the answer is c or d. So ideally you’ll want to limit your sample size to people who have used the prod... See more
Using Product/Market Fit to Drive Sustainable Growth
What to look for Pre-Product
1. Visible excitement
2. People are willing to pay for it now
What to look for Post-Product
1. Retention: Users stick around
2. Surveys: Users say they’d be very disappointed if your product went away
3. Exponential organic growth
4. Cost-efficient growth
5. CAC < LTV
6. Customers clamor for your product
7. People are using it even when it’s broken
why they consider it a must-have, they type of people they think will benefit most from your product, the key benefit they receive from the product, etc. With this information, you can hone your product targeting, positioning, onboarding, and even the long term product roadmap.
Using Product/Market Fit to Drive Sustainable Growth
PMF