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Product Market Fit

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Product Market Fit

Product Market Fit

  1. 1. Product/Market Fit tempo http://tempo.tw
  2. 2. Tempo •2012. Cubie •Investor: 500 Startups •Advisor: Andrew Chen, … •2008. Gamelet •2004. Willmobile •http://fb.me/tempofeng •http://tempo.tw • •http://fb.me/pdwtaiwan
  3. 3. Agenda Product /Idea MarketFit
  4. 4. Agenda • Product/Market Fit PMF • Market • Product/Idea • Minimum Viable Product MVP • • • • Pivot
  5. 5. An idea is not a mockup A mockup is not a prototype A prototype is not a program A program is not a product A product is not a business And a business is not profits
  6. 6. •Four Billion-Dollar Startups That Were Told Their Idea Was Stupid •https://medium.com/life-learning/four-billion-dollar-startups-that- were-told-their-idea-was-stupid-97a02cfa5e7#.v97rmbdfr
  7. 7. The future is extremely hard to see through the lens of the present. It’s very easy to unconsciously dismiss the first versions of something as frivolous or useless. Or as stupid ideas. https://dcurt.is/what-a-stupid-idea
  8. 8. 1. guideline Market Product/Idea 2. Build-Measure-Learn MVP PMF
  9. 9. Product/Market Fit
  10. 10. http://pmarchive.com/guide_to_startups_part4.html
  11. 11. 1. 2. 3.
  12. 12. In a great market (a market with lots of real potential customers) the market pulls product out of the startup.
  13. 13. The #1 company-killer is lack of market.
  14. 14. Product/market fit means being in a good market with a product that can satisfy that market. The only thing that matters is getting to product/ market fit. Product/Market Fit
  15. 15. Product/Market Fit 1. Retention 2. 3. 4.
  16. 16. Product/Market Fit • •Retention •LTV / CAC > 3 •Repeatability, Findability, Scaleability •…
  17. 17. Product/Market Fit • • 40%+ • • • •http://www.startup-marketing.com/the-startup-pyramid/
  18. 18. Product/Market Fit •Retention • 2nd Day Retention • / / • DAU/MAU
  19. 19. 1.20% 2.40% 3.60% 4.
  20. 20. • • : 40% • Facebook, Instagram: 50%~60% • cubie: 30% • • Amazon
  21. 21. ...
  22. 22. Product/Market Fit • LTV >> CAC •SAAS • 3 •LTV
  23. 23. Product/Market Fit •Repeatability • •Findability • •Scaleability • http://www.sachinrekhi.com/how-do-you-know-if-youve-achieved-product-market-fit
  24. 24. MVP PMF 1) 2)
  25. 25. Market
  26. 26. Market • Findable? Repeatable? • • 0 1 •
  27. 27. 1. 2. 3. 4.
  28. 28. - Ben Evans •http://ben-evans.com/benedictevans/2015/2/28/market-size • • •
  29. 29. 1. 2. 3. 4.
  30. 30. • • vs • •Apple Watch
  31. 31. 1. 1000 2. 10
  32. 32. 1. 40% ) 2. 5%
  33. 33. A business creates X dollars of value and captures Y% of X. X and Y are independent variables.
  34. 34. - Peter Thiel • 0 1 •http://www.books.com.tw/products/0010651050 • • •
  35. 35. • •Network Effects • •
  36. 36. Network Effect vs Virality
  37. 37.
  38. 38. Product / Idea
  39. 39. Product / Idea • • •Bundling & unbundling •Market Size vs Business Model •Perfect Competition
  40. 40. Tell me something that's true, that almost nobody agrees with you on - Peter Thiel
  41. 41. http://bit.ly/1Qx3D73
  42. 42. - Clay Christensen
  43. 43. 1. 2. 1/10 3.
  44. 44. - Clay Christensen • • • • • •
  45. 45. Bundling & Unbundling
  46. 46. Market Size vs Business Model http://tempo.tw/post/141822053360/
  47. 47. Perfect Competition • https://en.wikipedia.org/wiki/Perfect_competition •A large number of buyers and sellers •Perfect information •Homogeneous products •No barriers to entry or exit •Every participant is a price taker •…
  48. 48. Market/Idea Retention Perfect Competition Market Size vs Business Model Bundling & Unbundling
  49. 49. •Market Idea • •
  50. 50. MVP (Minimum Viable Product)
  51. 51. Lean Startup
  52. 52. MVP • Lean Startup •Build-Measure-Learn • Idea • •
  53. 53. MVP • MVP • •Landing page • •Kickstarter • •
  54. 54. MVP - Zaoo
  55. 55. MVP - Dropbox
  56. 56. MVP - Zappos https://generalassemb.ly/blog/businesses-that-started-as-a-minimum-viable-product/
  57. 57. MVP • MVP •MVP • • vs •Zaoo: Flow
  58. 58. MVP • • • User • User
  59. 59. • •User Interview • •Landing page • Funnel •Retention •Retention by features •
  60. 60. •Get out of the building! • • User Interview •
  61. 61. • • • •
  62. 62. • • • • • • http://www.slideshare.net/seanellis/product-driven-growth-from-lean-product-meetup
  63. 63. User Interview
  64. 64. User Interview
  65. 65. Jobs to be Done https://strategyn.com/jobs-to-be-done/
  66. 66. User Interview - Zaoo 1. 2. app 3. User Interview 4. 2~3 5. 6. 7. app
  67. 67. User Interview - Zaoo • • 300 / • • • • app •
  68. 68. User Interview - http://tempo.tw/post/128711124655/
  69. 69. User Interview
  70. 70. Landing page Funnel Retention
  71. 71. Landing Page • Landing Page
  72. 72. Funnel •
  73. 73. Retention
  74. 74. • • 40%+ • • • •http://www.startup-marketing.com/the-startup-pyramid/
  75. 75. Registration Funnel? 2nd Day Retention?
  76. 76. Pivot
  77. 77. Pivot •MVP • •
  78. 78. Pivot •Just because something is not working does not mean everything is not working •Zoom-in Pivot •Zoom-out Pivot •Customer Segment Pivot •Customer Need Pivot •Platform Pivot •Business Architecture Pivot •Value Capture Pivot •Engine of Growth Pivot •Channel Pivot •Technology Pivot
  79. 79. Pivot •If you’re not growing, you’re dying. •If your competitors are all dying, and you’re not growing, you’re about to die. •If your competitors are all dying, and you’re growing, congratulations — you won! •If you’re going to pivot, look at everything you’ve learned and put everything into the most promising, simple piece of your failed business (in our case, our email list). http://calacanis.com/2016/02/14/knowing-when-and-how-to-pivot-or-why-didnt-news-apps-work/
  80. 80. MVP •Social • •Network Effects • • •
  81. 81. •Product/Market Fit • •Market • •Product/Idea • Retention Market Size vs Business Model
  82. 82. •Build-Measure-Learn • •User Interview • • •Main Flow Funnel, … •Pivot • • PMF •Growth

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