Product Market Fit FTW by dave

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Slide Notes

Product Market Fit FTW

Published on Nov 18, 2015

Product Market Fit presentation delivered on May 14 2014 at UP Global NEXT LA

Presenter - Dave Schappell (@DaveSchappell), Amazon Web Services Startup BD Manager.

Former founder/CEO at TeachStreet and early Amazon employee.

http://www.linkedin.com/in/daveschappell

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PRESENTATION OUTLINE

Product Market Fit FTW

@DaveSchappell Nov 2014 NEXT LA

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Joanna Lord PMF
bitly.com/joanna-lord-pmf
bit.ly/joanna-lord-video

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BPMF

Wondering where the value is?
Customers are confused?
No organic traction.
Hard to pitch press.
Long/no sales cycle.

PMF

Customers buying as fast as you can build
You're understaffed
WOM is on fire
Random emails/feedback thanking you
Investment/press/buzz/$ You'll know...

So, how do you get there?

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Lessons learned

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Lesson 1 - The Market Wins

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Untitled Slide

4 Types of Market:
1) Existing market
2) Resegmented market
3) New market
4) Clone market

Untitled Slide

Assumptions:
* Massive/frequent lifelong learner market
* Teachers needed (and would pay) for students
* SEO possible
* Technical Savviness

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5 Years fighting market

Investor $
Friendships & Family Stress
Confidence
Time

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Lesson 2 -

Your product is not THE product

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Lesson 3 -
Start at the Pain Point

Forget the vitamin. Be the painkiller.

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QUESTIONS?

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"Help connect with customers"

or

"Feed your CRM"

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"Help Encourage Social Advocacy"

or

"Drive Referrals"

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Lesson 4 -
Ask All the Questions

* Who needs your solution?
* Who would pay for your solution?
* Who approves that charge
* What are they doing now to solve for that?
* What is the minimum solution?
* How would they feel if it was solved?
* How much of their monthly budget would they put toward a solution?
* If presented with solution, what can stop them f/ using it?

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