your Product Market Fit ROADMAP: 6 Parts
We're in the business of creating products that our customers love, can't live without -- and are willing to pay for them. That's product market fit. But how to we actually get there? How do we find and serve our best customers and identify where our product needs to be, to do that?
I've helped companies of all shapes, sizes and industries answer these questions for the past 8+ years. I've found that to do so, there's a non-linear, non-trivial, 5-step iterative process, regardless of whether you're going from idea to Minimum Viable Product (MVP) or MVP and beyond.
Create the right product for your customers
Please see blog post for tips: Dear Advisor: I have a startup idea, now what?
Understand how your customers will be using your product/platform/hardware
Map out your customer journeys, as shown in Phil Libin's talk.
If you have a 2-sided marketplace or HaaS, you have two sets of customers: buyers and sellers/hardware; I recommend tracking the journeys of each.
Identify what data you need to capture the customer journey
Please see blog post for 5 aspects of your business to track today
Make sure your MVP is converting prospects into early adopters
Please see blog post for tips: Dear Advisor: My customer demos are not converting
Use data to:
Find out how your customers are using your product and identify who your current best customers are, based on Step 2 (above)
See where the business can improve: OMTM and other metrics you should be tracking in your business
Iterate on your product based on your customers' activity, to help you create products that customers care about, to help your company grow.
Talk defining product market fit and systematizing advice on how to iterate on product market fit based on customer engagement.
Are you ready to improve your product/service? Schedule your complimentary, 30-minute, NDA-free strategy session.